10-Q 1 kim-20240930.htm 10-Q 10-Q
false00019594720000879101--12-31Q3.001.001http://fasb.org/us-gaap/2024#SecuredOvernightFinancingRateSofrMemberhttp://fasb.org/us-gaap/2024#SecuredOvernightFinancingRateSofrMember0000879101us-gaap:InterestRateSwapMember2024-09-300000879101kim:AcquiredJointVenture1Memberkim:RPTMember2024-09-300000879101kim:ClassNPreferredStockMember2023-07-012023-09-300000879101us-gaap:FairValueMeasurementsRecurringMember2023-12-310000879101kim:KimcoRealtyOpLlcMemberkim:OtherRealEstateInvestmentsMember2024-07-012024-09-300000879101kim:FinancingReceivableMaturingOctober2034Member2024-09-300000879101kim:CherryHillNJMemberkim:MarltonPlazaParcelMember2024-09-300000879101kim:OtherIncomeNetAndSpecialDividendIncomeMember2024-01-012024-09-300000879101us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2022-12-310000879101kim:PreferredEquityInvestmentsMember2024-09-300000879101us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-12-310000879101us-gaap:NoncontrollingInterestMember2024-01-012024-09-300000879101kim:CommonUnitsMemberkim:LongIslandNYMember2022-01-012022-12-310000879101kim:SeriesLPreferredStockMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2023-07-012023-09-300000879101kim:AlbertsonsCompaniesIncMemberus-gaap:CommonStockMember2024-01-012024-09-300000879101kim:InterestRateSwap4Member2024-01-012024-09-300000879101kim:OPUnitsMemberkim:RPTMember2024-01-020000879101us-gaap:PerformanceSharesMember2024-01-012024-09-300000879101kim:SeriesMPreferredStockMember2024-01-012024-09-300000879101kim:OPUnitsMember2024-01-012024-09-300000879101us-gaap:PerformanceSharesMember2023-01-012023-09-300000879101us-gaap:BuildingImprovementsMember2023-09-300000879101kim:KimcoRealtyOpLlcMember2023-09-300000879101us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Memberkim:TermLoansMember2024-09-300000879101kim:ClassNPreferredStockMember2023-01-012023-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2023-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2022-12-310000879101kim:ClassNCumulativeConvertiblePreferredStockDepositarySharesMemberkim:ShareRepurchaseProgramMember2024-01-310000879101kim:SeniorUnsecuredNotes2Member2024-09-300000879101us-gaap:CommonStockMember2023-06-300000879101kim:SeniorUnsecuredNotes5Member2024-09-300000879101us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-01-012023-09-300000879101us-gaap:RetainedEarningsMember2023-06-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:AssetPledgedAsCollateralMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101us-gaap:BuildingMemberkim:RPTMember2024-01-012024-09-300000879101kim:OtherRealEstateInvestmentsMember2024-01-012024-09-300000879101us-gaap:FairValueMeasurementsRecurringMember2024-09-300000879101kim:AcquiredJointVenture2Memberkim:RPTMember2024-09-300000879101kim:UnsecuredTermLoanCreditFacilityMember2024-01-020000879101kim:RPTRealtyMember2024-01-012024-09-300000879101us-gaap:PreferredStockMember2024-06-300000879101us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300000879101us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300000879101kim:ConversionOfRPTRealtySharesIntoKimcoCommonSharesMemberkim:RPTRealtyMember2024-01-022024-01-020000879101us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2023-12-310000879101us-gaap:BuildingMember2023-09-300000879101kim:OtherPropertyInterestsMember2024-01-012024-09-300000879101us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Memberkim:SeniorUnsecuredNotesMember2024-09-300000879101kim:R2gVentureLlcMember2024-01-012024-09-300000879101us-gaap:AdditionalPaidInCapitalMember2022-12-310000879101kim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:SeriesMPreferredStockMember2024-07-012024-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2024-06-300000879101kim:CrossroadsPlazaParcelMemberkim:CaryNCMember2024-01-012024-09-300000879101us-gaap:CommonStockMemberkim:CommonStock1Member2024-01-012024-09-300000879101kim:RPTMemberus-gaap:LineOfCreditMember2024-01-022024-01-020000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2024-07-012024-09-300000879101kim:CherryHillNJMemberkim:MarltonPlazaParcelMember2024-01-012024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:PreferredStockIssuedMember2024-01-012024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2022-12-310000879101kim:SeniorUnsecuredNotes1Member2024-09-300000879101us-gaap:ParentMember2022-12-310000879101us-gaap:NoncontrollingInterestMember2023-09-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:AssetPledgedAsCollateralMemberkim:KimcoRealtyOpLlcMember2023-12-3100008791012023-12-310000879101kim:AociCashFlowHedgesForInterestPaymentsParentMember2024-07-012024-09-300000879101kim:JointVenturesMemberkim:KimcoRealtyOpLlcMember2023-07-012023-09-300000879101kim:InterestRateSwap4Member2024-09-300000879101us-gaap:RetainedEarningsMember2023-09-300000879101us-gaap:PreferredStockMember2023-06-300000879101kim:PerformanceBasedLtipUnitsMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMember2024-01-020000879101us-gaap:CommonStockMember2024-07-012024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300000879101kim:OtherJointVentureProgramsMemberkim:RPTMember2024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2023-12-310000879101us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-09-300000879101stpr:FLkim:WaterfordLakesTownCenterMember2024-10-310000879101kim:SecondOtherJointVentureProgramsMemberkim:RPTMember2024-01-012024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000879101kim:OtherIncomeNetAndSpecialDividendIncomeMember2023-01-012023-09-300000879101us-gaap:RevolvingCreditFacilityMemberus-gaap:SecuredOvernightFinancingRateSofrMember2024-01-012024-09-300000879101kim:FinancingReceivableMaturingJune2034Member2024-09-300000879101us-gaap:PreferredStockMemberkim:PreferredStockIssuedMember2024-01-012024-09-3000008791012024-01-012024-09-300000879101kim:RPTMember2023-07-012023-09-300000879101kim:KimcoRealtyOpLlcMember2022-12-3100008791012024-10-220000879101kim:Portfolio2PropertiesMember2024-01-012024-09-300000879101us-gaap:RevolvingCreditFacilityMember2023-02-280000879101kim:ConsolidatedOperatingPropertiesMember2024-09-300000879101kim:RPTMemberkim:CumulativeConvertiblePerpetualPreferredSharesMember2024-01-022024-01-020000879101us-gaap:UnsecuredDebtMember2024-01-022024-01-020000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2023-12-310000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101us-gaap:CommonStockMemberkim:RPTMember2024-01-020000879101kim:CommonUnitsMember2024-09-300000879101us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Memberkim:SeniorUnsecuredNotesMember2023-12-310000879101us-gaap:InterestRateSwapMemberkim:UnconsolidatedJointVentureMember2024-09-300000879101kim:TustinCAMemberkim:TustinHeightsMember2024-01-012024-09-300000879101us-gaap:LetterOfCreditMember2024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101us-gaap:FairValueInputsLevel3Memberkim:TermLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000879101kim:JointVenturesMember2024-01-012024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2024-06-300000879101us-gaap:ParentMember2023-06-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300000879101kim:FinancingReceivableMaturingDecember2024Member2024-09-300000879101us-gaap:FairValueInputsLevel2Memberkim:SeniorUnsecuredNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000879101us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-09-300000879101us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000879101kim:KIRMember2023-01-012023-12-310000879101us-gaap:RetainedEarningsMember2023-12-310000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2024-07-012024-09-300000879101us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-07-012023-09-300000879101kim:RPTMemberkim:CumulativeConvertiblePerpetualPreferredSharesMember2024-01-020000879101us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101kim:BelowMarketLeasesMember2023-01-012023-09-300000879101kim:WoodbridgeVAMemberkim:StonebridgeAtPotomacTownCenterMember2024-09-300000879101kim:ClassMCumulativeRedeemablePreferredStockMember2024-01-012024-09-300000879101kim:SecondOtherJointVentureProgramsMemberkim:RPTMember2024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2024-06-300000879101kim:ConversionOfRPTRealtySharesIntoKimcoCommonSharesMemberkim:RPTMember2024-01-022024-01-0200008791012022-12-310000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310000879101us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000879101us-gaap:FairValueInputsLevel3Memberus-gaap:MortgagesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000879101kim:InterestRateSwap1Member2024-09-300000879101kim:SeniorUnsecuredNotes7Member2024-01-012024-09-300000879101us-gaap:NoncontrollingInterestMember2023-07-012023-09-300000879101kim:SeriesMPreferredStockMember2023-07-012023-09-300000879101us-gaap:CommonStockMember2024-06-300000879101us-gaap:CommonStockMember2024-01-012024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-09-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberkim:ConsolidatedOperatingPropertiesMember2024-09-300000879101us-gaap:RetainedEarningsMember2024-06-300000879101kim:PropertyNetLeaseJointVentureMemberkim:RPTRealtyMember2024-01-022024-01-020000879101us-gaap:ConsolidatedPropertiesMemberkim:RPTRealtyMember2024-01-022024-01-020000879101kim:KimcoRealtyOpLlcMemberkim:OtherRealEstateInvestmentsMember2024-09-300000879101kim:SeniorUnsecuredNotes6Member2024-09-300000879101us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300000879101kim:ClassNPreferredStockMember2024-01-012024-09-300000879101kim:R2gVentureLlcMember2023-07-012023-09-300000879101us-gaap:LeasesAcquiredInPlaceMember2023-09-300000879101kim:ATMProgramMember2024-09-300000879101us-gaap:ParentMember2023-12-310000879101kim:KimcoRealtyOpLlcMemberkim:OPUnitsMemberkim:RPTMember2024-01-022024-01-020000879101kim:SeriesLPreferredStockMember2024-07-012024-09-300000879101us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000879101kim:UnsecuredTermLoanCreditFacilityMember2024-09-300000879101us-gaap:AdditionalPaidInCapitalMember2023-06-300000879101kim:CPPMember2023-07-012023-09-300000879101us-gaap:RetainedEarningsMember2024-07-012024-09-300000879101us-gaap:NoncontrollingInterestMember2022-12-310000879101kim:KimcoRealtyOpLlcMemberkim:OtherRealEstateInvestmentsMember2023-12-310000879101us-gaap:CommonStockMember2023-07-012023-09-300000879101kim:R2gVentureLlcMember2023-12-310000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2023-07-012023-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000879101kim:KIRMember2023-07-012023-09-300000879101kim:KimcoRealtyOpLlcMember2023-12-310000879101kim:OtherInstitutionalJointVenturesMember2024-09-300000879101kim:SeniorUnsecuredNotes1Membersrt:MaximumMember2024-01-012024-09-300000879101kim:SeriesMPreferredStockMember2023-01-012023-09-300000879101kim:FinancingReceivableMaturingBetweenMarch2029AndMarch2034Member2024-09-300000879101srt:MinimumMemberkim:SeniorUnsecuredNotes1Member2024-01-012024-09-300000879101us-gaap:PerformanceSharesMember2024-09-300000879101kim:OtherInstitutionalJointVenturesMember2024-07-012024-09-300000879101kim:KimcoRealtyOpLlcMember2024-06-300000879101us-gaap:PreferredStockMemberkim:PreferredStockIssuedMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:SeniorUnsecuredNotes1Membersrt:MaximumMember2024-09-300000879101kim:CommonUnitsMember2024-01-012024-09-300000879101kim:InterestRateSwap6Member2024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2022-12-310000879101kim:OPUnitsMemberkim:RPTMember2024-01-022024-01-020000879101us-gaap:NoncontrollingInterestMemberkim:LongIslandNYMember2024-01-012024-09-300000879101kim:ClassNCumulativeRedeemablePreferredStockDepositarySharesMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMember2024-09-300000879101us-gaap:RetainedEarningsMember2024-09-300000879101kim:OtherRealEstateInvestmentsMember2024-09-300000879101kim:RPTMemberkim:ClassNPreferredStockMember2024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2024-07-012024-09-300000879101kim:PrudentialInvestmentProgramMember2023-01-012023-09-300000879101kim:InvestmentsInAndAdvancesToRealEstateJointVenturesMember2023-12-310000879101kim:OtherJointVentureProgramsMember2023-01-012023-12-310000879101kim:OperatingPropertiesMemberkim:PrudentialInvestmentProgramMember2023-01-012023-09-300000879101kim:PreviouslyHeldEquityInvestmentsMember2024-01-012024-09-300000879101kim:PreferredStockIssuedMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2023-06-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2024-07-012024-09-300000879101kim:SeniorUnsecuredNotesMember2024-09-300000879101kim:OtherJointVentureProgramsMember2023-07-012023-09-300000879101kim:CrossroadsPlazaParcelMemberkim:CaryNCMember2024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2023-01-012023-09-300000879101us-gaap:ParentMemberkim:CommonStock1Member2024-01-012024-09-300000879101kim:InplaceLeasesMemberkim:RPTMember2024-01-012024-09-300000879101us-gaap:ParentMember2023-09-300000879101kim:SeriesMPreferredStockMember2024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:LimitedPartnerMember2024-06-300000879101kim:PreferredUnitsMemberkim:LongIslandNYMember2024-01-012024-09-300000879101kim:OtherInstitutionalJointVenturesMember2023-01-012023-09-300000879101us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000879101kim:InterestRateSwap2Member2024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2023-06-300000879101kim:OtherRealEstateInvestmentsMember2024-07-012024-09-300000879101kim:SeniorUnsecuredNotes6Member2024-01-012024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2024-06-300000879101us-gaap:ParentMember2024-06-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2024-09-300000879101kim:CPPMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300000879101us-gaap:RestrictedStockMember2022-12-310000879101us-gaap:ParentMember2024-09-300000879101kim:KimcoIncomeFundMember2023-12-310000879101us-gaap:BuildingMember2023-01-012023-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2023-09-300000879101kim:FinancingReceivableMaturingOctober2024Member2024-01-012024-09-300000879101kim:AlbertsonsCompaniesIncMember2023-01-012023-09-3000008791012024-06-300000879101kim:PropertyMember2023-01-012023-09-300000879101kim:FinancingReceivableMaturingJuly2029Member2024-09-300000879101us-gaap:RestrictedStockMember2024-01-012024-09-300000879101kim:AcquiredJointVenture1Memberkim:RPTMember2024-01-012024-09-300000879101kim:TimeBasedLtipUnitsMember2024-01-012024-09-300000879101us-gaap:AdditionalPaidInCapitalMember2024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsParentMember2023-12-310000879101srt:MinimumMemberkim:SeniorUnsecuredNotes1Member2024-09-300000879101kim:InvestmentWithFundingCommitmentsMember2024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2023-06-300000879101kim:JointVenturesMember2023-07-012023-09-300000879101kim:InterestRateSwap7Member2024-09-300000879101kim:SeniorUnsecuredNotes4Member2024-09-300000879101us-gaap:ParentMemberkim:CommonStock1Memberkim:KimcoRealtyOpLlcMember2024-01-012024-09-3000008791012024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2024-01-012024-09-300000879101srt:RestatementAdjustmentMemberkim:RPTMember2024-09-300000879101kim:ATMProgramMember2023-09-012023-09-300000879101kim:StaffordVAMemberkim:StaffordMarketplaceMember2024-09-300000879101kim:InterestRateSwap5Member2024-09-300000879101kim:FinancingReceivableMaturingJune2025Member2024-09-300000879101us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgagesMember2023-12-310000879101kim:VariableInterestEntityEncumberedByThirdPartyNonRecourseMortgageDebtMember2023-12-310000879101kim:KIRMember2024-01-012024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-3000008791012023-07-012023-09-300000879101us-gaap:LandMember2023-09-300000879101kim:VariableInterestEntityUnencumberedMember2024-09-3000008791012023-01-012023-09-300000879101kim:KimcoIncomeFundMember2024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2024-06-300000879101us-gaap:RetainedEarningsMember2023-01-012023-09-300000879101kim:BelowMarketLeasesMember2023-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsParentMember2024-06-300000879101kim:MortgageRelatingToAnOperatingPropertyMember2024-09-300000879101kim:OtherIncomeNetAndSpecialDividendIncomeMember2024-07-012024-09-300000879101us-gaap:NonrecourseMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberkim:KimcoRealtyOpLlcMember2023-12-310000879101us-gaap:PreferredStockMember2023-09-300000879101us-gaap:NonrecourseMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310000879101us-gaap:BuildingImprovementsMemberkim:RPTMember2024-01-012024-09-300000879101kim:SeniorUnsecuredNotes4Member2024-01-012024-09-300000879101us-gaap:InterestRateSwapMemberkim:UnconsolidatedJointVentureMember2023-12-310000879101kim:CPPMember2024-07-012024-09-300000879101kim:SeriesDCumulativeConvertiblePerpetualPreferredSharesMemberkim:RPTMember2024-01-022024-01-020000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2024-01-012024-09-300000879101us-gaap:CommonStockMember2024-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2023-09-300000879101us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000879101kim:KimcoRealtyOpLlcMemberkim:OtherRealEstateInvestmentsMember2024-01-012024-09-300000879101kim:PrudentialInvestmentProgramMember2024-07-012024-09-300000879101kim:The2020EquityParticipationPlanMember2024-09-300000879101kim:TheWeingartenRealtyNoncontributoryQualifiedCashBalanceRetirementPlanMember2023-07-012023-09-300000879101us-gaap:RevolvingCreditFacilityMember2023-02-282023-02-280000879101kim:OtherInstitutionalJointVenturesMember2023-12-310000879101kim:ConsolidatedOperatingPropertiesMember2023-12-310000879101us-gaap:RevolvingCreditFacilityMember2024-09-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000879101kim:ArvadaCOMemberkim:NorthridgeShoppingCenterParcelMember2024-01-012024-09-300000879101us-gaap:PerformanceSharesMember2023-09-300000879101kim:SanAntonioTexasMemberkim:FinancingReceivableMaturingJune2025Member2024-09-300000879101kim:VariableInterestEntityEncumberedByThirdPartyNonRecourseMortgageDebtMember2024-09-300000879101kim:RPTMember2024-01-022024-01-020000879101us-gaap:AboveMarketLeasesMember2023-09-300000879101kim:OtherRealEstateInvestmentsMember2023-12-310000879101us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberkim:MortgageAndOtherFinancingReceivablesMember2024-09-300000879101us-gaap:LimitedPartnerMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101us-gaap:ParentMember2024-07-012024-09-300000879101kim:SeniorUnsecuredNotes3Member2024-09-300000879101kim:RPTMember2024-09-300000879101kim:FinancingReceivableMaturingAugust2028MemberMember2024-09-300000879101kim:AdmorePaPropertyMemberkim:PreferredEquityInvestmentsMember2023-09-300000879101kim:RPTRealtyMember2024-01-020000879101kim:PropertyNetLeaseJointVentureMemberkim:RPTRealtyMember2024-01-020000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2022-12-310000879101us-gaap:CommonStockMember2023-12-310000879101kim:PreviouslyHeldEquityInvestmentsMember2024-09-300000879101us-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300000879101kim:OtherJointVentureProgramsMember2024-07-012024-09-300000879101kim:OtherInstitutionalJointVenturesMember2024-01-012024-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2023-06-300000879101kim:RPTRealtyMemberus-gaap:WhollyOwnedPropertiesMember2024-01-022024-01-020000879101stpr:FLkim:WaterfordLakesTownCenterMember2024-10-012024-10-310000879101kim:CommonStock1Memberkim:KimcoRealtyOpLlcMemberus-gaap:LimitedPartnerMember2024-01-012024-09-300000879101us-gaap:NonrecourseMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101kim:PerformanceBasedLtipUnitsMember2024-09-300000879101kim:UnconsolidatedRedevelopmentPropertiesMember2024-09-300000879101kim:KIRMember2023-01-012023-09-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000879101us-gaap:FairValueInputsLevel2Memberkim:SeniorUnsecuredNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000879101kim:SeniorUnsecuredNotesMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:QualifiedReplacementPlanMember2023-07-012023-09-300000879101kim:PrudentialInvestmentProgramMember2024-01-012024-09-300000879101us-gaap:ParentMember2024-01-012024-09-300000879101kim:RPTMemberkim:ClassNPreferredStockMember2024-01-020000879101us-gaap:ParentMemberkim:PreferredStockIssuedMember2024-01-012024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300000879101us-gaap:NonrecourseMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-09-300000879101us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000879101kim:OtherRealEstateInvestmentsMember2023-01-012023-09-300000879101kim:TenantImprovementsMember2023-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2022-12-310000879101kim:InvestmentWithFundingCommitmentsMember2024-01-012024-09-300000879101kim:PropertyMember2024-01-012024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101kim:DispositionActivityRelatingToConsolidatedOperatingPropertiesAndParcelsMember2023-01-012023-09-300000879101kim:R2gVentureLlcMember2023-01-012023-09-300000879101us-gaap:InterestRateSwapMembersrt:MinimumMember2024-09-300000879101us-gaap:LeasesAcquiredInPlaceMember2023-01-012023-09-300000879101kim:SeriesLPreferredStockMember2023-01-012023-09-300000879101kim:SeriesMPreferredStockMember2023-01-012023-12-310000879101kim:JointVenturesMemberkim:KimcoRealtyOpLlcMember2024-07-012024-09-300000879101kim:WoodbridgeVAMemberkim:StonebridgeAtPotomacTownCenterMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2023-09-300000879101us-gaap:RetainedEarningsMember2024-01-012024-09-300000879101kim:SeriesLPreferredStockMember2023-12-310000879101kim:PrudentialInvestmentProgramMember2023-01-012023-12-310000879101us-gaap:FairValueInputsLevel3Memberkim:MortgageAndOtherFinancingReceivablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000879101kim:Portfolio2PropertiesMember2024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2023-07-012023-09-300000879101kim:OtherJointVentureProgramsMember2023-12-310000879101kim:RPTRealtyMemberkim:ClassNPreferredStockMember2024-01-022024-01-020000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2023-07-012023-09-300000879101kim:ClassNPreferredStockMember2024-09-300000879101kim:ConversionOfRPTRealtySharesIntoKimcoPreferredSharesMemberkim:RPTRealtyMember2024-01-022024-01-020000879101us-gaap:FairValueInputsLevel3Memberkim:TermLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000879101kim:FinancingReceivableMaturingFebruary2029Member2024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2024-07-012024-09-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberkim:ConsolidatedOperatingPropertiesMember2023-12-310000879101kim:KimcoRealtyOpLlcMemberkim:OtherRealEstateInvestmentsMember2023-07-012023-09-300000879101kim:LongTermIncentivePlanUnitsMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2023-12-310000879101kim:ClassNCumulativeConvertiblePreferredStockDepositarySharesMember2024-01-012024-09-300000879101kim:FinancingReceivableMaturingNovember2026Member2024-09-300000879101kim:SeniorUnsecuredNotes7Member2024-09-300000879101us-gaap:NoncontrollingInterestMember2023-01-012023-09-300000879101us-gaap:AboveMarketLeasesMemberkim:RPTMember2024-01-012024-09-300000879101kim:KIRMember2024-09-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberkim:TermLoansMember2023-12-310000879101kim:DispositionActivityRelatingToConsolidatedOperatingPropertiesAndParcelsMember2024-01-012024-09-300000879101us-gaap:PreferredStockMember2022-12-310000879101kim:SeniorUnsecuredNotesMember2024-01-012024-09-300000879101kim:PropertyNetLeaseJointVentureMemberkim:RPTMember2024-01-012024-09-300000879101us-gaap:FairValueInputsLevel3Memberkim:MortgageAndOtherFinancingReceivablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000879101kim:InterestRateSwap3Member2024-01-012024-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2023-12-310000879101kim:InterestRateSwap7Member2024-01-012024-09-3000008791012023-06-300000879101kim:PropertyNetLeaseJointVentureMemberkim:RPTMember2024-01-020000879101us-gaap:CommonStockMemberkim:CommonStock1Memberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:SeniorUnsecuredNotesMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101kim:UnsecuredTermLoanCreditFacilityMember2024-07-012024-09-300000879101kim:RPTRealtyMember2024-01-022024-01-020000879101kim:KIRMember2024-07-012024-09-300000879101us-gaap:CommonStockMember2022-12-310000879101kim:SeriesLPreferredStockMember2023-07-012023-09-300000879101us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310000879101kim:OperatingRightOfUseIntangibleAssetsMember2024-09-300000879101us-gaap:AdditionalPaidInCapitalMember2024-06-300000879101us-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000879101us-gaap:PerformanceSharesMember2023-12-310000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2024-09-300000879101us-gaap:PerformanceSharesMember2022-12-310000879101kim:RPTMember2024-01-012024-09-300000879101kim:TenantImprovementsMember2023-01-012023-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2024-09-300000879101kim:JointVenturesMember2023-01-012023-09-300000879101kim:StaffordVAMemberkim:StaffordMarketplaceMember2024-01-012024-09-300000879101kim:AllEquityMethodInvestmentsMember2024-09-300000879101kim:InterestRateSwap3Member2024-09-300000879101kim:InterestRateSwap2Member2024-01-012024-09-300000879101kim:InterestRateSwap6Member2024-01-012024-09-300000879101kim:ShareRepurchaseProgramMemberkim:ClassLCumulativeRedeemablePreferredStockDepositarySharesMember2024-01-310000879101kim:KimcoRealtyOpLlcMemberus-gaap:LimitedPartnerMember2024-01-012024-09-300000879101kim:UnsecuredTermLoanMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2023-01-012023-09-300000879101kim:OtherJointVentureProgramsMember2023-01-012023-09-300000879101kim:OtherJointVentureProgramsMember2024-09-300000879101kim:TustinCAMemberkim:TustinHeightsMember2024-09-300000879101kim:PrudentialInvestmentProgramMember2023-07-012023-09-300000879101kim:JointVenturesMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101kim:PrudentialInvestmentProgramMember2023-12-310000879101kim:SeniorUnsecuredNotesMember2023-01-012023-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2023-06-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:NoncontrollingInterestMember2024-06-300000879101us-gaap:InterestRateSwapMembersrt:MaximumMember2024-09-300000879101us-gaap:AboveMarketLeasesMember2023-01-012023-09-300000879101us-gaap:BuildingImprovementsMember2023-01-012023-09-300000879101kim:AllEquityMethodInvestmentsMember2023-12-310000879101kim:DispositionActivityRelatingToConsolidatedOperatingPropertiesAndParcelsMember2024-09-300000879101us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000879101kim:KimcoRealtyOpLlcMemberkim:OtherRealEstateInvestmentsMember2023-01-012023-09-300000879101kim:RPTMemberkim:ClassNPreferredStockMember2024-01-022024-01-020000879101us-gaap:RestrictedStockMember2024-09-300000879101kim:CPPMember2024-09-300000879101kim:PreferredUnitsMemberkim:LongIslandNYMember2022-01-012022-12-310000879101kim:R2gVentureLlcMember2024-07-012024-09-300000879101us-gaap:ParentMember2023-07-012023-09-300000879101kim:CommonStock1Member2024-01-012024-09-300000879101us-gaap:NoncontrollingInterestMember2024-07-012024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101kim:OtherJointVentureProgramsMember2024-01-012024-09-300000879101us-gaap:CommonStockMember2023-09-300000879101kim:RPTRealtyMemberkim:ClassNPreferredStockMember2024-01-020000879101us-gaap:WhollyOwnedPropertiesMemberkim:RPTMember2024-01-022024-01-020000879101kim:InvestmentsInAndAdvancesToRealEstateJointVenturesMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101kim:ClassLCumulativeRedeemablePreferredStockMember2024-01-012024-09-300000879101kim:FinancingReceivableMaturingOctober2024Member2024-09-300000879101us-gaap:CommonStockMember2024-01-012024-09-300000879101us-gaap:CommonStockMemberkim:RPTMember2024-01-022024-01-0200008791012023-09-300000879101kim:ATMProgramMember2023-09-300000879101srt:MinimumMemberkim:FinancingReceivableMaturingBetweenMarch2029AndMarch2034Member2024-09-300000879101kim:ShareRepurchaseProgramMember2024-01-012024-09-300000879101kim:R2gVentureLlcMember2024-09-300000879101kim:BelowMarketLeasesMemberkim:RPTMember2024-01-012024-09-300000879101kim:SeriesMPreferredStockMember2023-12-310000879101kim:LongIslandNYMember2024-09-300000879101kim:CityOfJacksonvilleSeries2005aBondsMember2024-09-300000879101kim:DispositionActivityRelatingToConsolidatedOperatingPropertiesAndParcelsMember2023-09-300000879101kim:UnsecuredTermLoanMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:PreferredUnitsMember2024-01-012024-09-300000879101kim:KimPruandKimPruIIMember2023-12-310000879101kim:KimPruandKimPruIIMember2024-09-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-09-300000879101kim:KimcoRealtyOpLlcMember2023-07-012023-09-300000879101us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:AssetPledgedAsCollateralMember2023-12-310000879101us-gaap:FairValueInputsLevel3Memberus-gaap:MortgagesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000879101us-gaap:RetainedEarningsMember2023-07-012023-09-300000879101us-gaap:PreferredStockMember2023-12-310000879101us-gaap:NoncontrollingInterestMember2024-06-300000879101kim:InvestmentsInAndAdvancesToRealEstateJointVenturesMemberkim:KimcoRealtyOpLlcMember2023-12-310000879101us-gaap:ParentMemberkim:PreferredStockIssuedMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2023-09-300000879101kim:UnsecuredTermLoanMember2024-01-012024-09-300000879101kim:PreferredUnitsMember2024-09-300000879101kim:OtherRealEstateInvestmentsMember2023-07-012023-09-300000879101us-gaap:NoncontrollingInterestMember2023-12-310000879101kim:PreferredStockIssuedMemberus-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300000879101kim:ClassNPreferredStockMember2024-07-012024-09-300000879101us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Memberkim:MortgageAndOtherFinancingReceivablesMember2023-12-310000879101kim:VariableInterestEntityUnencumberedMember2023-12-310000879101kim:SeriesDCumulativeConvertiblePerpetualPreferredSharesMemberkim:RPTRealtyMember2024-01-022024-01-020000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2023-07-012023-09-300000879101kim:CommonStock1Memberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:OperatingRightOfUseIntangibleAssetsMemberkim:RPTMember2024-01-012024-09-300000879101kim:InterestRateSwap1Member2024-01-012024-09-300000879101kim:FinancingReceivableMaturingMarch2029Member2024-09-300000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:ShareRepurchaseProgramMember2024-09-300000879101kim:KimcoRealtyOpLlcMemberus-gaap:LimitedPartnerMember2024-07-012024-09-300000879101kim:UnsecuredTermLoanMember2023-01-012023-09-300000879101kim:KimcoRealtyOpLlcMember2023-06-300000879101us-gaap:RetainedEarningsMember2022-12-310000879101kim:ATMProgramMember2024-01-012024-09-300000879101us-gaap:RestrictedStockMember2023-01-012023-09-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:MortgagesMember2024-09-300000879101kim:TenantImprovementsMemberkim:RPTMember2024-01-012024-09-300000879101srt:MinimumMember2024-09-300000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2023-01-012023-09-300000879101kim:SeniorUnsecuredNotes3Member2024-01-012024-09-300000879101kim:InvestmentsInAndAdvancesToRealEstateJointVenturesMember2024-09-300000879101kim:OtherIncomeNetAndSpecialDividendIncomeMember2023-07-012023-09-300000879101kim:CommonUnitsMemberkim:LongIslandNYMember2024-01-012024-09-300000879101kim:CPPMember2023-01-012023-09-300000879101kim:AdmorePaPropertyMemberkim:PreferredEquityInvestmentsMember2023-12-310000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2024-07-012024-09-300000879101kim:AlbertsonsCompaniesIncMember2024-01-012024-09-300000879101kim:RPTMember2023-01-012023-09-300000879101us-gaap:AdditionalPaidInCapitalMember2023-01-012023-09-300000879101kim:KimcoRealtyOpLlcMember2024-09-300000879101us-gaap:RestrictedStockMember2023-09-300000879101us-gaap:NoncontrollingInterestMember2023-06-300000879101us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-09-300000879101kim:FinancingReceivableMaturingDecember2024Member2024-01-012024-09-300000879101kim:FinancingReceivableMaturingBetweenMarch2029AndMarch2034Membersrt:MaximumMember2024-09-300000879101kim:OtherInstitutionalJointVenturesMember2023-01-012023-12-310000879101us-gaap:AdditionalPaidInCapitalMember2023-09-300000879101us-gaap:RestrictedStockMember2023-12-310000879101us-gaap:InterestRateSwapMember2024-01-012024-09-300000879101kim:PropertyNetLeaseJointVentureMemberkim:RPTMember2024-01-022024-01-020000879101kim:CPPMember2023-01-012023-12-310000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2023-12-310000879101kim:JointVenturesMember2024-07-012024-09-300000879101kim:PrudentialInvestmentProgramMember2024-09-300000879101kim:CPPMember2023-12-310000879101us-gaap:AccountingStandardsUpdate202203Member2024-09-300000879101kim:SeriesLPreferredStockMember2024-09-300000879101kim:ClassNCumulativeConvertiblePreferredStockDepositarySharesMemberkim:RPTMember2024-01-022024-01-020000879101kim:FinancingReceivableMaturingApril2027Member2024-09-300000879101kim:FinancingReceivableMaturingBetweenMarch2029AndMarch2034Member2024-01-012024-09-300000879101us-gaap:NoncontrollingInterestMember2024-09-300000879101kim:KIRMember2023-12-310000879101kim:OtherInstitutionalJointVenturesMember2023-07-012023-09-300000879101kim:LongIslandNYMember2024-01-012024-09-300000879101kim:OtherJointVentureProgramsMemberkim:RPTMember2024-01-012024-09-300000879101us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:AssetPledgedAsCollateralMember2024-09-300000879101kim:UnsecuredTermLoanCreditFacilityMembersrt:MinimumMember2024-09-300000879101kim:CommonStock1Memberus-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300000879101kim:JointVenturesMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:TheWeingartenRealtyNoncontributoryQualifiedCashBalanceRetirementPlanMember2023-09-300000879101kim:InterestRateSwap5Member2024-01-012024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300000879101kim:RealEstateJointVenturesMember2024-01-012024-09-300000879101us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-06-300000879101kim:RPTMember2024-01-020000879101kim:OperatingPropertiesMemberkim:PrudentialInvestmentProgramMember2023-09-300000879101kim:SeriesABondMember2024-09-300000879101kim:ClassMCumulativeRedeemablePreferredStockDepositarySharesMemberkim:ShareRepurchaseProgramMember2024-01-310000879101us-gaap:ParentMemberkim:KimcoRealtyOpLlcMember2023-09-300000879101kim:UnsecuredTermLoanCreditFacilityMemberus-gaap:SecuredOvernightFinancingRateSofrMember2024-01-022024-01-020000879101us-gaap:CommonStockMember2023-01-012023-09-300000879101us-gaap:PreferredStockMember2024-09-300000879101srt:MaximumMember2024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsParentMember2024-01-012024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsParentMember2024-09-300000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2023-06-300000879101us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000879101us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-01-012024-09-300000879101kim:SeniorUnsecuredNotes2Member2024-01-012024-09-300000879101kim:SeniorUnsecuredNotes5Member2024-01-012024-09-300000879101kim:SanAntonioTexasMemberkim:FinancingReceivableMaturingJune2034Member2024-09-3000008791012024-07-012024-09-300000879101kim:MortgageRelatingToAnOperatingPropertyMember2024-01-012024-09-300000879101kim:KimcoRealtyOpLlcMember2024-07-012024-09-300000879101kim:SeriesLPreferredStockMember2023-01-012023-12-310000879101us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000879101us-gaap:CommonStockMemberkim:KimcoRealtyOpLlcMember2022-12-310000879101kim:ArvadaCOMemberkim:NorthridgeShoppingCenterParcelMember2024-09-300000879101us-gaap:PreferredStockMemberkim:KimcoRealtyOpLlcMember2024-09-300000879101us-gaap:ConsolidatedPropertiesMemberkim:RPTMember2024-01-022024-01-020000879101kim:The2020EquityParticipationPlanMember2020-05-310000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2024-01-012024-09-300000879101kim:AociCashFlowHedgesForInterestPaymentsOfUnconsolidatedInvesteeParentMember2023-12-310000879101us-gaap:AccumulatedOtherComprehensiveIncomeMemberkim:KimcoRealtyOpLlcMember2023-07-012023-09-300000879101us-gaap:ParentMember2023-01-012023-09-300000879101us-gaap:AdditionalPaidInCapitalMember2023-12-310000879101kim:RPTMember2024-07-012024-09-30xbrli:purekim:Propertyutr:sqftxbrli:sharesiso4217:USDxbrli:sharesiso4217:USDkim:Agreement

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2024

or

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from _________to_________

 

Commission File Number: 1-10899 (Kimco Realty Corporation)

Commission File Number: 333-269102-01 (Kimco Realty OP, LLC)

 

KIMCO REALTY CORPORATION

KIMCO REALTY OP, LLC

(Exact name of registrant as specified in its charter)

 

Maryland (Kimco Realty Corporation)

Delaware (Kimco Realty OP, LLC)

 

13-2744380

92-1489725

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

500 North Broadway, Suite 201, Jericho, NY 11753

(Address of principal executive offices) (Zip Code)

(516) 869-9000

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year,

if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Kimco Realty Corporation

 

Title of each class

Trading

Symbol(s)

Name of each exchange on

which registered

Common Stock, par value $.01 per share.

KIM

New York Stock Exchange

Depositary Shares, each representing one one-thousandth of a share of 5.125% Class L Cumulative Redeemable, Preferred Stock, $1.00 par value per share.

KIMprL

New York Stock Exchange

Depositary Shares, each representing one one-thousandth of a share of 5.250% Class M Cumulative Redeemable, Preferred Stock, $1.00 par value per share.

KIMprM

New York Stock Exchange

Depositary Shares, each representing one one-thousandth of a share of 7.250% Class N Cumulative Convertible Preferred Stock, $1.00 par value per share.

KIMprN

New York Stock Exchange

 

Kimco Realty OP, LLC

 

Title of each class

Trading

Symbol(s)

Name of each exchange on

which registered

None

N/A

N/A

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

 

Kimco Realty Corporation Yes  No ☐

 

Kimco Realty OP, LLC Yes   No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 

 

Kimco Realty Corporation Yes  No ☐

 

Kimco Realty OP, LLC Yes   No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Kimco Realty Corporation:

Large accelerated filer

 

Accelerated filer

 

Non-accelerated filer

Smaller reporting company

 

Emerging growth company

 

 

 

 

Kimco Realty OP, LLC:

Large accelerated filer

 

Accelerated filer

 

Non-accelerated filer

Smaller reporting company

 

Emerging growth company

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Kimco Realty Corporation ☐

 

Kimco Realty OP, LLC ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Kimco Realty Corporation Yes ☐ No

 

Kimco Realty OP, LLC Yes ☐ No

 

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date.

As of October 22, 2024, Kimco Realty Corporation had 674,081,407 shares of common stock outstanding.

 

 


 

EXPLANATORY NOTE

This report combines the quarterly reports on Form 10-Q for the quarterly period ended September 30, 2024, of Kimco Realty Corporation (the “Company”) and Kimco Realty OP, LLC (“Kimco OP”). Prior to January 1, 2023, the Company’s business was conducted through a predecessor entity also known as Kimco Realty Corporation (the “Predecessor”). On December 14, 2022, the Predecessor’s Board of Directors approved the entry into an Agreement and Plan of Merger (the “UPREIT Merger”) with the company formerly known as New KRC Corp., which was a Maryland corporation and wholly owned subsidiary of the Predecessor (the “Parent Company”), and KRC Merger Sub Corp., which was a Maryland corporation and wholly owned subsidiary of the Parent Company (“Merger Sub”), to effect the reorganization (the “Reorganization”) of the Predecessor’s business into an umbrella partnership real estate investment trust, or “UPREIT”.

On January 1, 2023, pursuant to the UPREIT Merger, Merger Sub merged with and into the Predecessor, with the Predecessor continuing as the surviving entity and a wholly owned subsidiary of the Parent Company, and each outstanding share of capital stock of the Predecessor was converted into one equivalent share of capital stock of the Parent Company (each share of which has continued to trade under their respective existing ticker symbol with the same rights, powers and limitations that existed immediately prior to the Reorganization).

In connection with the Reorganization, the Parent Company changed its name to Kimco Realty Corporation, and replaced the Predecessor as the New York Stock Exchange-listed public company. Effective as of January 3, 2023, the Predecessor converted into a limited liability company, organized in the State of Delaware, known as Kimco Realty OP, LLC, the entity we refer to herein as “Kimco OP”.

Following the Reorganization, substantially all of the Company’s assets are held by, and substantially all of the Company’s operations are conducted through, Kimco OP (either directly or through its subsidiaries), as the Company’s operating company, and the Company is the managing member of Kimco OP. The officers and directors of the Company are the same as the officers and directors of the Predecessor immediately prior to the Reorganization.

The Parent Company is a real estate investment trust ("REIT") and is the managing member of Kimco OP. As of September 30, 2024, the Parent Company owned 99.84% of the outstanding limited liability company interests (the "OP Units") in Kimco OP.

Stockholders' equity and members’ capital are the primary areas of difference between the unaudited Condensed Consolidated Financial Statements of the Parent Company and those of Kimco OP. Kimco OP’s capital currently includes OP Units owned by the Parent and non-controlling OP Units owned by third parties. OP Units owned by third parties are accounted for within capital on Kimco OP’s financial statements and in non-controlling interests in the Parent Company’s financial statements.

The Parent Company consolidates Kimco OP for financial reporting purposes, and the Parent Company does not have significant assets other than its investment in Kimco OP. Therefore, while stockholders’ equity, members’ capital and noncontrolling interests differ as discussed above, the assets and liabilities of the Parent Company and Kimco OP are the same on their respective financial statements.

The Company believes combining the quarterly reports on Form 10-Q of the Parent Company and Kimco OP into this single report provides the following benefits:

Enhances investors' understanding of the Parent Company and Kimco OP by enabling investors to view the businesses as a whole in the same manner as management views and operates the business;
Eliminates duplicative disclosure and provides a more concise and readable presentation, because a substantial portion of the disclosure applies to both the Parent Company and Kimco OP; and
Creates time and cost efficiencies through the preparation of one combined report instead of two separate reports.

In order to highlight the differences between the Parent Company and Kimco OP, there are sections in this Quarterly Report that separately discuss the Parent Company and Kimco OP, including separate financial statements (but combined footnotes), separate controls and procedures sections, and separate Exhibit 31 and 32 certifications. In the sections that combine disclosure for the Parent Company and Kimco OP, unless context otherwise requires, this Quarterly Report refers to actions or holdings of the Parent Company and/or Kimco OP as being the actions or holdings of the Company (either directly or through its subsidiaries, including Kimco OP).

Throughout this Quarterly Report, unless the context requires otherwise:

The “Company,” “we,” “our” or “us” refer to:
o
the Parent Company and its business and operations conducted through its directly or indirectly owned subsidiaries, including Kimco OP; and
o
in statements regarding qualification as a REIT, such terms refer solely to the Predecessor or Parent Company, as applicable.
“Kimco OP” refers to Kimco Realty OP, LLC, our operating company following the UPREIT Merger.
References to “shares” and “shareholders” refer to the shares and shareholders of the Parent Company and not the limited liability company interests of Kimco OP.

2


 

 

PART I - FINANCIAL INFORMATION

 

 

 

 

Item 1.

Financial Statements

 

4

 

 

 

 

Condensed Consolidated Financial Statements of Kimco Realty Corporation and Subsidiaries (unaudited)

 

 

 

 

 

 

 

Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023

 

4

 

 

 

 

 

Condensed Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023

 

5

 

 

 

 

 

Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023

 

6

 

 

 

 

 

Condensed Consolidated Statements of Changes in Equity for the Three and Nine Months Ended September 30, 2024 and 2023

 

7

 

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023

 

9

 

 

 

 

Condensed Consolidated Financial Statements of Kimco Realty OP, LLC and Subsidiaries (unaudited)

 

 

 

 

 

 

 

Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023

 

10

 

 

 

 

 

Condensed Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023

 

11

 

 

 

 

 

Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023

 

12

 

 

 

 

 

Condensed Consolidated Statements of Changes in Capital for the Three and Nine Months Ended September 30, 2024 and 2023

 

13

 

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023

 

15

 

 

 

 

Kimco Realty Corporation and Subsidiaries and Kimco Realty OP, LLC and Subsidiaries

 

 

 

 

 

 

 

Notes to Condensed Consolidated Financial Statements (unaudited)

 

16

 

 

 

 

Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations.

 

43

 

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk.

 

57

 

 

 

 

Item 4.

Controls and Procedures.

 

57

 

 

 

 

PART II - OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings.

 

59

 

 

 

 

Item 1A.

Risk Factors.

 

59

 

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds.

 

59

 

 

 

 

Item 3.

Defaults Upon Senior Securities.

 

59

 

 

 

 

Item 4.

Mine Safety Disclosures.

 

60

 

 

 

 

Item 5.

Other Information.

 

60

 

 

 

 

Item 6.

Exhibits.

 

60

 

 

 

 

Signatures

 

61

 

3


 

KIMCO REALTY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

(in thousands, except share information)

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Assets:

 

 

 

 

 

 

Real estate, net of accumulated depreciation and amortization of $4,225,563 and
    $
3,842,869, respectively

 

$

16,515,749

 

 

$

15,094,925

 

Investments in and advances to real estate joint ventures

 

 

1,492,211

 

 

 

1,087,804

 

Other investments

 

 

106,513

 

 

 

144,089

 

Cash, cash equivalents and restricted cash

 

 

790,044

 

 

 

783,757

 

Marketable securities

 

 

2,355

 

 

 

330,057

 

Accounts and notes receivable, net

 

 

320,361

 

 

 

307,617

 

Operating lease right-of-use assets, net

 

 

130,914

 

 

 

128,258

 

Other assets

 

 

770,849

 

 

 

397,515

 

Total assets (1)

 

$

20,128,996

 

 

$

18,274,022

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Notes payable, net

 

$

7,966,940

 

 

$

7,262,851

 

Mortgages payable, net

 

 

335,275

 

 

 

353,945

 

Accounts payable and accrued expenses

 

 

309,272

 

 

 

216,237

 

Dividends payable

 

 

6,722

 

 

 

5,308

 

Operating lease liabilities

 

 

121,417

 

 

 

109,985

 

Other liabilities

 

 

646,619

 

 

 

599,961

 

Total liabilities (1)

 

 

9,386,245

 

 

 

8,548,287

 

Redeemable noncontrolling interests

 

 

73,688

 

 

 

72,277

 

 

 

 

 

 

 

Commitments and Contingencies (Footnote 19)

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

Preferred stock, $1.00 par value, authorized 7,054,000 shares; Issued and
   outstanding (in series)
21,216 and 19,367 shares, respectively; Aggregate liquidation
   preference $
576,602 and $484,179, respectively

 

 

21

 

 

 

19

 

Common stock, $.01 par value, authorized 1,500,000,000 and 750,000,000 shares,
   respectively; Issued and outstanding
674,082,065 and 619,871,237 shares,
   respectively

 

 

6,741

 

 

 

6,199

 

Paid-in capital

 

 

10,917,003

 

 

 

9,638,494

 

Cumulative distributions in excess of net income

 

 

(387,067

)

 

 

(122,576

)

Accumulated other comprehensive (loss)/income

 

 

(13,485

)

 

 

3,329

 

Total stockholders' equity

 

 

10,523,213

 

 

 

9,525,465

 

Noncontrolling interests

 

 

145,850

 

 

 

127,993

 

Total equity

 

 

10,669,063

 

 

 

9,653,458

 

Total liabilities and equity

 

$

20,128,996

 

 

$

18,274,022

 

 

(1)
Total assets include restricted assets of consolidated variable interest entities (“VIEs”) at September 30, 2024 and December 31, 2023 of $333,749 and $388,626, respectively. Total liabilities include non-recourse liabilities of consolidated VIEs at September 30, 2024 and December 31, 2023 of $169,855 and $180,855, respectively. See Footnote 14 of the Notes to Condensed Consolidated Financial Statements.

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

4


 

KIMCO REALTY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited)

(in thousands, except per share data)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from rental properties, net

 

$

502,875

 

 

$

441,816

 

 

$

1,498,001

 

 

$

1,319,162

 

Management and other fee income

 

 

4,757

 

 

 

4,249

 

 

 

13,616

 

 

 

12,635

 

Total revenues

 

 

507,632

 

 

 

446,065

 

 

 

1,511,617

 

 

 

1,331,797

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Rent

 

 

(4,239

)

 

 

(3,939

)

 

 

(12,744

)

 

 

(12,097

)

Real estate taxes

 

 

(64,996

)

 

 

(57,875

)

 

 

(194,538

)

 

 

(173,002

)

Operating and maintenance

 

 

(88,744

)

 

 

(76,604

)

 

 

(262,267

)

 

 

(226,919

)

General and administrative

 

 

(33,850

)

 

 

(33,697

)

 

 

(103,238

)

 

 

(101,180

)

Impairment charges

 

 

(375

)

 

 

(2,237

)

 

 

(4,277

)

 

 

(14,043

)

Merger charges

 

 

-

 

 

 

(3,750

)

 

 

(25,246

)

 

 

(3,750

)

Depreciation and amortization

 

 

(144,688

)

 

 

(127,437

)

 

 

(447,555

)

 

 

(382,983

)

Total operating expenses

 

 

(336,892

)

 

 

(305,539

)

 

 

(1,049,865

)

 

 

(913,974

)

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of properties

 

 

551

 

 

 

-

 

 

 

944

 

 

 

52,376

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

171,291

 

 

 

140,526

 

 

 

462,696

 

 

 

470,199

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income/(expense)

 

 

 

 

 

 

 

 

 

 

 

 

Special dividend income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

194,116

 

Other income, net

 

 

22,203

 

 

 

8,377

 

 

 

39,953

 

 

 

19,080

 

Gain/(loss) on marketable securities, net

 

 

79

 

 

 

13,225

 

 

 

(27,613

)

 

 

17,642

 

Interest expense

 

 

(76,216

)

 

 

(60,424

)

 

 

(224,122

)

 

 

(182,404

)

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes, net, equity in income of joint ventures,
   net, and equity in income from other investments, net

 

 

117,357

 

 

 

101,704

 

 

 

250,914

 

 

 

518,633

 

 

 

 

 

 

 

 

 

 

 

 

 

(Provision)/benefit for income taxes, net

 

 

(128

)

 

 

729

 

 

 

(72,355

)

 

 

(61,127

)

Equity in income of joint ventures, net

 

 

20,981

 

 

 

16,257

 

 

 

63,413

 

 

 

57,589

 

Equity in income of other investments, net

 

 

216

 

 

 

2,100

 

 

 

9,468

 

 

 

8,741

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

138,426

 

 

 

120,790

 

 

 

251,440

 

 

 

523,836

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to noncontrolling interests

 

 

(2,443

)

 

 

(2,551

)

 

 

(6,693

)

 

 

(9,208

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to the Company

 

 

135,983

 

 

 

118,239

 

 

 

244,747

 

 

 

514,628

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred dividends, net

 

 

(7,961

)

 

 

(6,285

)

 

 

(23,864

)

 

 

(18,736

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to the Company's common shareholders

 

$

128,022

 

 

$

111,954

 

 

$

220,883

 

 

$

495,892

 

 

 

 

 

 

 

 

 

 

 

 

 

Per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to the Company's common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

-Basic

 

$

0.19

 

 

$

0.18

 

 

$

0.32

 

 

$

0.80

 

-Diluted

 

$

0.19

 

 

$

0.18

 

 

$

0.32

 

 

$

0.80

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares:

 

 

 

 

 

 

 

 

 

 

 

 

-Basic

 

 

671,231

 

 

 

617,090

 

 

 

670,851

 

 

 

616,888

 

-Diluted

 

 

671,577

 

 

 

617,271

 

 

 

671,096

 

 

 

619,495

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

5


 

KIMCO REALTY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited)

(in thousands)

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income

 

$

138,426

 

 

$

120,790

 

 

$

251,440

 

 

$

523,836

 

Other comprehensive (loss)/income:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains related to defined benefit plan

 

 

-

 

 

 

(10,581

)

 

 

-

 

 

 

(10,581

)

Unrealized losses on cash flow hedges for interest
   payments, net

 

 

(22,050

)

 

 

-

 

 

 

(14,230

)

 

 

-

 

Equity in unrealized (losses)/gains on cash flow hedges for interest
   payments of unconsolidated investee, net

 

 

(2,671

)

 

 

1,255

 

 

 

(2,584

)

 

 

6,616

 

Other comprehensive loss

 

 

(24,721

)

 

 

(9,326

)

 

 

(16,814

)

 

 

(3,965

)

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

 

113,705

 

 

 

111,464

 

 

 

234,626

 

 

 

519,871

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income attributable to noncontrolling interests

 

 

(2,443

)

 

 

(2,551

)

 

 

(6,693

)

 

 

(9,208

)

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income attributable to the Company

 

$

111,262

 

 

$

108,913

 

 

$

227,933

 

 

$

510,663

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

6


 

KIMCO REALTY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the Three Months Ended September 30, 2024 and 2023

(unaudited)

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retained

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Cumulative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distributions

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in Excess

 

 

Other

 

 

Total

 

 

 

 

 

 

 

 

Preferred Stock

 

 

Common Stock

 

 

Paid-in

 

 

of Net

 

 

Comprehensive

 

 

Stockholders'

 

 

Noncontrolling

 

 

Total

 

 

Issued

 

 

Amount

 

 

Issued

 

 

Amount

 

 

Capital

 

 

Income)

 

 

(Loss)/Income

 

 

Equity

 

 

Interests

 

 

Equity

 

Balance at July 1, 2023

 

 

19

 

 

$

19

 

 

 

619,889

 

 

$

6,199

 

 

$

9,621,686

 

 

$

(20,748

)

 

$

15,942

 

 

$

9,623,098

 

 

$

132,310

 

 

$

9,755,408

 

Contributions from noncontrolling interests

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

10

 

 

 

10

 

Net income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

118,239

 

 

 

-

 

 

 

118,239

 

 

 

2,551

 

 

 

120,790

 

Other comprehensive income:

 

 

 

Unrealized gains related to defined benefit plan

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(10,581

)

 

 

(10,581

)

 

 

-

 

 

 

(10,581

)

Equity in unrealized gains on cash flow hedges for
   interest payments of unconsolidated investee, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,255

 

 

 

1,255

 

 

 

-

 

 

 

1,255

 

Redeemable noncontrolling interests income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,525

)

 

 

(1,525

)

Dividends declared to preferred shares

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(6,285

)

 

 

-

 

 

 

(6,285

)

 

 

-

 

 

 

(6,285

)

Dividends declared to common shares

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(142,583

)

 

 

-

 

 

 

(142,583

)

 

 

-

 

 

 

(142,583

)

Distributions to noncontrolling interests

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,108

)

 

 

(1,108

)

Surrender of restricted common stock

 

 

-

 

 

 

-

 

 

 

(14

)

 

 

-

 

 

 

(134

)

 

 

-

 

 

 

-

 

 

 

(134

)

 

 

-

 

 

 

(134

)

Amortization of equity awards

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

7,896

 

 

 

-

 

 

 

-

 

 

 

7,896

 

 

 

-

 

 

 

7,896

 

Redemption/conversion of noncontrolling interests

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(788

)

 

 

-