FFO does not represent cash flows from operations as defined by accounting principles generally accepted in the United States, is not necessarily indicative of cash available to fund all cash flow needs and should not be considered as an alternative to net income (loss) for purposes of evaluating the Company’s operating performance or to cash flow as a measure of liquidity.During 2012, the Company recorded a gain on investment of $45.1 million related to the acquisition of the remaining interest in Imperial Valley Mall. During 2012 and 2011, the Company recorded gains on extinguishment of debt from both continuing and discontinued operations. Considering the significance and nature of these items, the Company believes that it is important to identify their impact on its FFO measures for a reader to have a complete understanding of the Company’s results of operations. Therefore, the Company has also presented its FFO measures excluding these items.
CBL & Associates Properties Reports Fourth Quarter 2012 Results
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