Net loss attributable to the Company was $190.4 million or $1.27 per share-diluted for the quarter ended December 31, 2020, compared to net income attributable to the Company of $26.9 million or $0.19 per share-diluted attributable to the Company for the quarter ended December 31, 2019. Included within net loss attributable to the Company for the 4th quarter of 2020 is a loss on remeasurement of assets pertaining to Fashion District Philadelphia of $163.3 million.

Funds from operations-diluted (“FFO”), excluding financing expense in connection with Chandler Freehold, was $72.9 million or $0.45 per share-diluted, compared to $148.1 million or $0.98 per share-diluted for the quarter ended December 31, 2019. The major items contributing to this quarterly FFO, excluding financing expense in connection with Chandler Freehold, decline were primarily the following:

$38 million revenue decline from COVID-19 related rent abatements across permanent and temporary leasing revenue lines.

$21 million COVID-19 related decline in common area and ancillary revenues, including specialty leasing/temporary tenant revenue, percentage rent revenue, business development revenue and parking revenue.

General top-line revenue decreases totaling approximately $12 million driven primarily by COVID-19 related occupancy decreases.

$6 million of bad debt expense, including revenue reversals from tenants on a cash basis per GAAP.

$8 million quarterly decrease from (loss)/gain on undepreciated asset sales or write-down from consolidated assets, including a $5 million impairment charge in the fourth quarter of 2020 for undeveloped land that is currently under contract for sale.

The dilutive impact of additional common shares issued resulting from the second quarter of 2020 stock dividend.

Same center net operating income, excluding lease termination income, decreased 22% in 2020 as compared to 2019 as a result of widespread mall closures and regional stay-at-home orders during 2020 caused by the COVID-19 pandemic.