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PRESS RELEASE CBL Properties Reports Results For Second Quarter 2021 08/17/2021 CHATTANOOGA , Tenn .-- ( BUSINESS WIRE ) -- CBL Properties ( OTCMKTS : CBLAQ ) announced results for the second quarter ended June 30 , 2021. A description of each supplemental non - GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release . Three Months Ended June 30 , Six Months Ended June 30 , 2021 2020 % 2021 2020 % Net loss attributable to common shareholders per diluted share $ ( 0.05 ) $ ( 0.42 ) 88.1 % $ ( 0.18 ) $ ( 1.16 ) 84.5 % Funds from Operations ( " FFO " ) per diluted share $ 0.25 $ ( 0.03 ) 933.3 % $ 0.70 $ 0.23 204.3 % FFO , as adjusted , per diluted share ( 1 ) $ 0.39 $ 0.02 1,850.0 % $ 0.73 $ 0.28 160.7 % ( 1 ) For a reconciliation of FFO to FFO , as adjusted , for the periods presented , please refer to the footnotes to the Company's reconciliation of net loss attributable to common shareholders to FFO allocable to Operating Partnership common unitholders on page 8 of this news release . KEY TAKEAWAYS : • FFO , as adjusted , per diluted share , was $ 0.39 for the second quarter 2021 , compared with $ 0.02 per share for the second quarter 2020. The increase in FFO , as adjusted , per diluted share , as compared with the prior year period is principally a result of $ 0.15 per diluted share lower net interest expense and a $ 0.17 per diluted share positive variance in the estimate for uncollectable revenues , rent abatements and write - offs for past due rents . The decline in net interest expense was primarily due to the post - petition interest expense payments that are not required to be made on the senior unsecured notes and secured credit facility subsequent to the Company's bankruptcy filing on November 1 , 2020. The positive variance in the estimate for uncollectable revenues , abatements and write - offs for past due rents was primarily a result of the tenant accommodations that were made in the prior - year period due to the impact of the pandemic . • Other major variances in the second quarter 2021 FFO , as adjusted , per diluted share , compared with the prior year period included $ 0.07 per diluted share of higher property NOI , including the estimate for uncollectable revenues , rent abatements and write - offs for past due rents . The second quarter