2017 Q2 Form 10-Q Financial Statement

#000162828017008459 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $61.30M $68.36M
YoY Change -10.33% -1.27%
Cost Of Revenue $35.11M $40.68M
YoY Change -13.69% -3.49%
Gross Profit $26.19M $27.69M
YoY Change -5.42% -4.81%
Gross Profit Margin 42.73% 40.51%
Selling, General & Admin $13.26M $2.250M
YoY Change 489.33% -25.0%
% of Gross Profit 50.63% 8.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.76M $18.48M
YoY Change -20.13% 5.24%
% of Gross Profit 56.36% 66.74%
Operating Expenses $28.03M $20.72M
YoY Change 35.28% 0.73%
Operating Profit $32.47M $6.970M
YoY Change 365.84% -18.19%
Interest Expense $9.513M $7.295M
YoY Change 30.4% -221.38%
% of Operating Profit 29.3% 104.66%
Other Income/Expense, Net
YoY Change
Pretax Income $91.83M -$339.0K
YoY Change -27189.68% -113.45%
Income Tax $462.0K $471.0K
% Of Pretax Income 0.5%
Net Earnings $91.36M $849.0K
YoY Change 10661.25% -82.94%
Net Earnings / Revenue 149.04% 1.24%
Basic Earnings Per Share $1.16
Diluted Earnings Per Share $1.16 $26.37K
COMMON SHARES
Basic Shares Outstanding 78.87M shares 96.68M shares
Diluted Shares Outstanding 78.87M shares 96.68M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.0M $37.60M
YoY Change 243.09% 66.37%
Cash & Equivalents $129.0M $53.52M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $15.50M $11.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $144.5M $48.70M
YoY Change 196.71% 38.75%
LONG-TERM ASSETS
Property, Plant & Equipment $1.142B $1.625B
YoY Change -29.76% -4.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $247.2M $366.6M
YoY Change -32.57% 12.77%
Total Long-Term Assets $1.493B $2.102B
YoY Change -28.96% 2.27%
TOTAL ASSETS
Total Short-Term Assets $144.5M $48.70M
Total Long-Term Assets $1.493B $2.102B
Total Assets $1.638B $2.151B
YoY Change -23.86% 2.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.30M $39.60M
YoY Change 6.82% 32.89%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.30M $49.40M
YoY Change 5.87% 24.75%
LONG-TERM LIABILITIES
Long-Term Debt $846.8M $939.8M
YoY Change -9.9% 45.12%
Other Long-Term Liabilities $85.30M $97.90M
YoY Change -12.87% 25.67%
Total Long-Term Liabilities $932.1M $1.038B
YoY Change -10.18% 43.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.30M $49.40M
Total Long-Term Liabilities $932.1M $1.038B
Total Liabilities $984.4M $1.088B
YoY Change -9.52% 42.02%
SHAREHOLDERS EQUITY
Retained Earnings -$432.2M
YoY Change
Common Stock $58.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $645.6M $1.063B
YoY Change
Total Liabilities & Shareholders Equity $1.638B $2.151B
YoY Change -23.86% 2.88%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $91.36M $849.0K
YoY Change 10661.25% -82.94%
Depreciation, Depletion And Amortization $14.76M $18.48M
YoY Change -20.13% 5.24%
Cash From Operating Activities $5.250M $14.52M
YoY Change -63.84% -47.45%
INVESTING ACTIVITIES
Capital Expenditures -$6.610M -$10.75M
YoY Change -38.51% 49.51%
Acquisitions
YoY Change
Other Investing Activities $352.4M -$13.76M
YoY Change -2661.26% -629.23%
Cash From Investing Activities $345.8M -$24.51M
YoY Change -1510.98% 432.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -627.5M -38.95M
YoY Change 1510.99% 86.72%
NET CHANGE
Cash From Operating Activities 5.250M 14.52M
Cash From Investing Activities 345.8M -24.51M
Cash From Financing Activities -627.5M -38.95M
Net Change In Cash -276.4M -48.94M
YoY Change 464.77% -2355.3%
FREE CASH FLOW
Cash From Operating Activities $5.250M $14.52M
Capital Expenditures -$6.610M -$10.75M
Free Cash Flow $11.86M $25.27M
YoY Change -53.07% -27.43%

Facts In Submission

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us-gaap Dividends Common Stock
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40544000 USD
us-gaap Dividends Common Stock
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25620000 USD
CY2016Q2 us-gaap Dividends Payable Current And Noncurrent
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0 USD
CY2017Q2 us-gaap Dividends Payable Current And Noncurrent
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72000 USD
us-gaap Dividends Preferred Stock Cash
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103000 USD
CY2016Q4 us-gaap Due To Related Parties Current And Noncurrent
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10196000 USD
CY2017Q2 us-gaap Due To Related Parties Current And Noncurrent
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10005000 USD
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
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0.01
us-gaap Earnings Per Share Basic And Diluted
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0.29
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1.16
us-gaap Earnings Per Share Basic And Diluted
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3.50
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
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17623000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Net
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15610000 USD
us-gaap Impairment Of Real Estate
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13100000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
25471000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations
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91291000 USD
CY2016Q4 us-gaap Fixtures And Equipment Gross
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4955000 USD
CY2017Q2 us-gaap Fixtures And Equipment Gross
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3525000 USD
CY2016Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
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0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
24739000 USD
CY2017Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
116283000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
304017000 USD
CY2016Q2 us-gaap General And Administrative Expense
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2131000 USD
us-gaap General And Administrative Expense
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4073000 USD
CY2017Q2 us-gaap General And Administrative Expense
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1647000 USD
us-gaap General And Administrative Expense
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3326000 USD
CY2016Q2 us-gaap Impairment Of Real Estate
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0 USD
CY2016Q2 us-gaap Impairment Of Real Estate
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0 USD
us-gaap Impairment Of Real Estate
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0 USD
us-gaap Impairment Of Real Estate
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0 USD
CY2017Q2 us-gaap Impairment Of Real Estate
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13100000 USD
us-gaap Income Loss From Continuing Operations
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285190000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-339000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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26144000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
91834000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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286161000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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-810000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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25483000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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91372000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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285307000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
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1.16
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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3.50
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
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1668000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2358000 USD
CY2017Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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0.02
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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0.02
CY2017Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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0.00
CY2016Q2 us-gaap Income Tax Expense Benefit
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471000 USD
us-gaap Income Tax Expense Benefit
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661000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
462000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
854000 USD
us-gaap Income Taxes Paid
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50000 USD
us-gaap Income Taxes Paid
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259000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-1779000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
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6532000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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5631000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
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2557000 USD
us-gaap Increase Decrease In Due To Related Parties
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301000 USD
us-gaap Increase Decrease In Due To Related Parties
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4000 USD
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1107000 USD
us-gaap Increase Decrease In Other Operating Assets
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1653000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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2063000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-1748000 USD
us-gaap Increase Decrease In Receivables
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1574000 USD
us-gaap Increase Decrease In Receivables
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2682000 USD
us-gaap Increase Decrease In Restricted Cash
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76956000 USD
us-gaap Increase Decrease In Restricted Cash
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-5403000 USD
CY2016Q2 us-gaap Interest Expense
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7295000 USD
us-gaap Interest Expense
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14110000 USD
CY2017Q2 us-gaap Interest Expense
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9513000 USD
us-gaap Interest Expense
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19286000 USD
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13717000 USD
us-gaap Interest Paid
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19303000 USD
CY2016Q4 us-gaap Investment Building And Building Improvements
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1064191000 USD
CY2016Q4 us-gaap Land
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343564000 USD
CY2017Q2 us-gaap Land
Land
244072000 USD
CY2016Q4 us-gaap Land Improvements
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26177000 USD
CY2017Q2 us-gaap Land Improvements
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17746000 USD
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1054869000 USD
CY2017Q2 us-gaap Liabilities
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984424000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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2022884000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
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1637955000 USD
CY2016Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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0 USD
CY2017Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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52886000 USD
CY2017Q2 us-gaap Long Term Debt
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CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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847185000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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940000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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902000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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867000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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835000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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605000 USD
CY2016Q4 us-gaap Minority Interest
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912000 USD
CY2017Q2 us-gaap Minority Interest
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889000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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36000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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37000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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637968000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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33558000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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21760000 USD
CY2016Q2 us-gaap Net Income Loss
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849000 USD
us-gaap Net Income Loss
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27829000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
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129705000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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578000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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541000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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503000 USD
CY2017Q2 us-gaap Net Income Loss
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91363000 USD
us-gaap Net Income Loss
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285293000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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9000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
12000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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14000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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849000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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27829000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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91291000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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285190000 USD
us-gaap Number Of Businesses Acquired
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0 business
us-gaap Number Of Businesses Acquired
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0 business
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607000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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127101000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable
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825576000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
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92818000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
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115533000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
126432000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
132378000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
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66626000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
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291789000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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375000 USD
CY2016Q4 us-gaap Other Assets
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CY2017Q2 us-gaap Other Assets
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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1112000 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-10370000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-440000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1112000 USD
CY2016Q4 us-gaap Other Deferred Costs Gross
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135000 USD
CY2017Q2 us-gaap Other Deferred Costs Gross
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1414000 USD
CY2016Q4 us-gaap Other Liabilities
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34056000 USD
CY2017Q2 us-gaap Other Liabilities
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31275000 USD
us-gaap Other Operating Activities Cash Flow Statement
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1020000 USD
us-gaap Other Operating Activities Cash Flow Statement
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-441000 USD
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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22105000 USD
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
17906000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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210060000 USD
us-gaap Payments For Repurchase Of Common Stock
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576000000 USD
us-gaap Payments Of Capital Distribution
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0 USD
us-gaap Payments Of Capital Distribution
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4872000 USD
us-gaap Payments Of Dividends Minority Interest
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36000 USD
us-gaap Payments Of Dividends Minority Interest
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37000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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0 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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40000 USD
us-gaap Payments Of Loan Costs
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1076000 USD
us-gaap Payments Of Loan Costs
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4000 USD
us-gaap Payments Of Ordinary Dividends
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40544000 USD
us-gaap Payments Of Ordinary Dividends
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25620000 USD
us-gaap Payments Of Stock Issuance Costs
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362000 USD
us-gaap Payments Of Stock Issuance Costs
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862000 USD
us-gaap Payments To Acquire Loans Held For Investment
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27871000 USD
us-gaap Payments To Acquire Loans Held For Investment
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5969000 USD
us-gaap Payments To Develop Real Estate Assets
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18121000 USD
us-gaap Payments To Develop Real Estate Assets
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9915000 USD
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.6875
CY2016Q4 us-gaap Prepaid Expense And Other Assets
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19123000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
18717000 USD
us-gaap Proceeds From Collection Of Loans Held For Sale
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1883000 USD
us-gaap Proceeds From Collection Of Loans Held For Sale
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4935000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
5645000 USD
us-gaap Proceeds From Issuance Of Secured Debt
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9956000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
CY2017 us-gaap Proceeds From Issuance Of Warrants
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32000 USD
us-gaap Proceeds From Issuance Of Warrants
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0 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
27000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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26164000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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5496000 USD
us-gaap Proceeds From Repayments Of First Mortgage Bond
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309170000 USD
us-gaap Proceeds From Repayments Of First Mortgage Bond
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us-gaap Proceeds From Repayments Of Lines Of Credit
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-107000000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
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21579000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
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16737000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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42782000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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642886000 USD
CY2016Q2 us-gaap Profit Loss
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858000 USD
us-gaap Profit Loss
ProfitLoss
27841000 USD
CY2017Q2 us-gaap Profit Loss
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91372000 USD
us-gaap Profit Loss
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285307000 USD
us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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187000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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414552000 USD
CY2017Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
328083000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
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2021494000 USD
us-gaap Share Based Compensation
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78000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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65000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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78000 USD
us-gaap Revenues
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128248000 USD
us-gaap Share Based Compensation
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65000 USD
us-gaap Stock Repurchased And Retired During Period Value
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210332000 USD
us-gaap Stock Repurchased And Retired During Period Value
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576000000 USD
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CY2017Q2 us-gaap Stockholders Equity
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645592000 USD
CY2017Q2 us-gaap Real Estate Investment Property At Cost
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1469543000 USD
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1606942000 USD
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1141460000 USD
us-gaap Repayments Of Secured Debt
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11965000 USD
us-gaap Repayments Of Secured Debt
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4935000 USD
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32160000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents
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26706000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-432220000 USD
CY2016Q2 us-gaap Revenues
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68360000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1297347000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1063971000 USD
us-gaap Revenues
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136977000 USD
CY2017Q2 us-gaap Revenues
Revenues
61299000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
966589000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
646481000 USD
us-gaap Tenant Reimbursements
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6244000 USD
CY2016Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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1426000 USD
CY2017Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
7050000 USD
CY2016Q2 us-gaap Temporary Equity Dividends Adjustment
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0 USD
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 USD
CY2017Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
72000 USD
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
103000 USD
CY2017 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
24000 USD
CY2016Q4 us-gaap Tenant Improvements
TenantImprovements
159677000 USD
CY2017Q2 us-gaap Tenant Improvements
TenantImprovements
130481000 USD
CY2016Q2 us-gaap Tenant Reimbursements
TenantReimbursements
3316000 USD
CY2017Q2 us-gaap Tenant Reimbursements
TenantReimbursements
2526000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
5556000 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96683000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97173000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78871000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81445000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96683000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97173000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78871000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81445000 shares
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Interim Financial Information</font><font style="font-family:inherit;font-size:10pt;">&#8212;The accompanying interim consolidated financial statements of CIM Commercial have been prepared by our management in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Certain information and note disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the interim consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying financial information reflects all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods. Operating results for the </font><font style="font-family:inherit;font-size:10pt;">three and six</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2017</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the year ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. Our accompanying interim consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto, included in our Annual Report on Form&#160;10-K filed with the SEC on </font><font style="font-family:inherit;font-size:10pt;">March&#160;16, 2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ORGANIZATION AND OPERATIONS</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CIM Commercial Trust Corporation ("CIM Commercial" or the "Company"), a Maryland corporation and real estate investment trust ("REIT"), or together with its wholly-owned subsidiaries ("we," "us" or "our") primarily invests in, owns, and operates Class&#160;A and creative office investments in vibrant and improving urban communities throughout the United States. These communities are located in areas that include traditional downtown areas and suburban main streets, which have high barriers to entry, high population density, improving demographic trends and a propensity for growth. We were originally organized in 1993 as PMC Commercial Trust ("PMC Commercial"), a Texas real estate investment trust.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">July&#160;8, 2013</font><font style="font-family:inherit;font-size:10pt;">, PMC Commercial entered into a merger agreement (the "Merger Agreement") with CIM Urban REIT,&#160;LLC ("CIM REIT"), an affiliate of CIM Group, L.P. ("CIM Group" or "CIM"), and subsidiaries of the respective parties. CIM REIT was a private commercial REIT and was the owner of CIM Urban Partners,&#160;L.P. ("CIM Urban"). The transaction (the "Merger") was completed on </font><font style="font-family:inherit;font-size:10pt;">March&#160;11, 2014</font><font style="font-family:inherit;font-size:10pt;"> (the "Acquisition Date"). As a result of the Merger and related transactions, CIM Urban became our wholly-owned subsidiary.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our common stock, </font><font style="font-family:inherit;font-size:10pt;">$0.001</font><font style="font-family:inherit;font-size:10pt;"> par value per share ("Common Stock"), is currently traded on the NASDAQ Global Market under the ticker symbol "CMCT." We have authorized for issuance </font><font style="font-family:inherit;font-size:10pt;">900,000,000</font><font style="font-family:inherit;font-size:10pt;"> shares of Common Stock and </font><font style="font-family:inherit;font-size:10pt;">100,000,000</font><font style="font-family:inherit;font-size:10pt;"> shares of preferred stock.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CIM Commercial has qualified and intends to continue to qualify as a REIT, as defined in the Internal Revenue Code of 1986, as amended.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;">&#8212;Certain prior period amounts have been reclassified to conform with the current period presentation. These reclassifications had no effect on previously reported net income or cash flows.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;">&#8212;The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

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0001628280-17-008459-index-headers.html Edgar Link pending
0001628280-17-008459-index.html Edgar Link pending
0001628280-17-008459.txt Edgar Link pending
0001628280-17-008459-xbrl.zip Edgar Link pending
cmct-20170630.xml Edgar Link completed
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cmct-20170630_cal.xml Edgar Link unprocessable
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