MACERICH CO Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator | |||||||||||||||||
| Net loss | $ | (201,059) | $ | (197,665) | $ | (278,099) | |||||||||||
| Less: net loss attributable to noncontrolling interests | (3,910) | (3,545) | (4,034) | ||||||||||||||
| Net loss attributable to the Company | (197,149) | (194,120) | (274,065) | ||||||||||||||
| Allocation of earnings to participating securities | (774) | (906) | (870) | ||||||||||||||
Numerator for basic and diluted EPS—net loss attributable to common stockholders | $ | (197,923) | $ | (195,026) | $ | (274,935) | |||||||||||
| Denominator | |||||||||||||||||
| Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1) | 254,216 | 221,845 | 215,548 | ||||||||||||||
| EPS—net loss attributable to common stockholders: | |||||||||||||||||
| Basic and diluted | $ | (0.78) | $ | (0.88) | $ | (1.28) | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 25, 2019 | |
| 2017 | Feb 23, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 23, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.