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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues        
Rental revenue, net $ 264,349 $ 277,676 $ 804,104 $ 798,271
Escalation and reimbursement 45,091 42,194 125,018 124,273
Investment and preferred equity income 44,448 27,869 143,887 87,655
Other income 9,877 9,272 21,369 25,931
Total revenues 363,765 357,011 1,094,378 1,036,130
Expenses        
Operating expenses, including approximately $4,876 and $13,345 (2013) and $4,670 and $12,914 (2012) paid to related parties 77,272 82,351 218,901 221,670
Real estate taxes 55,511 53,293 161,625 156,746
Ground rent 10,127 8,874 29,767 26,570
Interest expense, net of interest income 82,973 85,659 247,420 247,789
Amortization of deferred financing costs 4,331 4,493 13,034 11,626
Depreciation and amortization 87,473 81,827 248,587 233,566
Loan loss and other investment reserves, net of recoveries 0 0 0 564
Transaction related costs, net of recoveries (2,349) 1,372 719 4,398
Marketing, general and administrative 20,869 20,551 63,450 61,469
Total expenses 336,207 338,420 983,503 964,398
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate, gain (loss) on sale of investment in marketable securities, purchase price fair value adjustment and loss on early extinguishment of debt 27,558 18,591 110,875 71,732
Equity in net income from unconsolidated joint ventures 2,939 11,658 4,251 80,988
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (354) (4,807) (3,937) 17,776
Gain (loss) on sale of investment in marketable securities 0 2,237 (65) 2,237
Purchase price fair value adjustment 0 0 (2,305) 0
Loss on early extinguishment of debt 0 0 (18,523) 0
Income from continuing operations 30,143 27,679 90,296 172,733
Net income from discontinued operations 1,406 951 1,725 2,883
Gain on sale of discontinued operations 13,787 0 14,900 6,627
Net income 45,336 28,630 106,921 182,243
Net income attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (1,110) (567) (1,909) (4,876)
Noncontrolling interests in other partnerships (2,901) (1,835) (8,806) (6,792)
Preferred unit distributions (562) (571) (1,692) (1,533)
Net income attributable to SL Green 40,763 25,657 94,514 169,042
Preferred stock redemption costs 0 (10,010) (12,160) (10,010)
Perpetual preferred stock dividends (3,738) (7,915) (18,144) (23,004)
Net income attributable to SL Green common stockholders 37,025 7,732 64,210 136,028
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 22,623 11,451 54,125 109,687
Purchase price fair value adjustment 0 0 (2,239) 0
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (344) (4,636) (3,825) 17,160
Net income from discontinued operations 1,365 917 1,676 2,783
Gain on sale of discontinued operations 13,381 0 14,473 6,398
Net income 37,025 7,732 64,210 136,028
Basic earnings per share:        
Income from continuing operations before discontinued operations (in dollars per share) $ 0.25 $ 0.13 $ 0.57 $ 1.24
Gain (Loss) on Sale of Unconsolidated Joint Ventures or Real Estate, Per Basic Share $ 0.00 $ (0.05) $ (0.04) $ 0.19
Net (loss) income from discontinued operations (in dollars per share) $ 0.00 $ 0.01 $ 0.01 $ 0.03
Gain (Loss) on Sale of Discontinued Operations, Net of Noncontrolling Interest, Per Basic Share $ 0.15 $ 0.00 $ 0.16 $ 0.07
Net income attributable to SL Green common stockholders (in dollars per share) $ 0.40 $ 0.09 $ 0.70 $ 1.53
Diluted earnings per share:        
Net income from continuing operations before discontinued operations (in dollars per share) $ 0.25 $ 0.13 $ 0.56 $ 1.23
Gain (Loss) on Sale of Unconsolidated Joint Ventures or Real Estate, Per Diluted Share $ 0.00 $ (0.05) $ (0.04) $ 0.19
Net (loss) income from discontinued operations (in dollars per share) $ 0.00 $ 0.01 $ 0.02 $ 0.03
Gain (Loss) on Sale of Discontinued Operations, Per Diluted Share $ 0.15 $ 0.00 $ 0.16 $ 0.07
Income attributable to SL Green common stockholders (in dollars per share) $ 0.40 $ 0.09 $ 0.70 $ 1.52
Dividends per share (in dollars per share) $ 0.33 $ 0.25 $ 0.99 $ 0.75
Basic weighted average common shares outstanding (in shares) 91,988 90,241 91,684 88,929
Diluted weighted average common shares and common share equivalents outstanding (in shares) 95,016 93,891 94,631 92,485
Amounts attributable to SLGOP common unitholders:        
Purchase price fair value adjustment     (2,305) 0
SL Green Operating Partnership
       
Revenues        
Rental revenue, net 264,349 277,676 804,104 798,271
Escalation and reimbursement 45,091 42,194 125,018 124,273
Investment and preferred equity income 44,448 27,869 143,887 87,655
Other income 9,877 9,272 21,369 25,931
Total revenues 363,765 357,011 1,094,378 1,036,130
Expenses        
Operating expenses, including approximately $4,876 and $13,345 (2013) and $4,670 and $12,914 (2012) paid to related parties 77,272 82,351 218,901 221,670
Real estate taxes 55,511 53,293 161,625 156,746
Ground rent 10,127 8,874 29,767 26,570
Interest expense, net of interest income 82,973 85,659 247,420 247,789
Amortization of deferred financing costs 4,331 4,493 13,034 11,626
Depreciation and amortization 87,473 81,827 248,587 233,566
Loan loss and other investment reserves, net of recoveries 0 0 0 564
Transaction related costs, net of recoveries (2,349) 1,372 719 4,398
Marketing, general and administrative 20,869 20,551 63,450 61,469
Total expenses 336,207 338,420 983,503 964,398
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate, gain (loss) on sale of investment in marketable securities, purchase price fair value adjustment and loss on early extinguishment of debt 27,558 18,591 110,875 71,732
Equity in net income from unconsolidated joint ventures 2,939 11,658 4,251 80,988
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (354) (4,807) (3,937) 17,776
Gain (loss) on sale of investment in marketable securities 0 2,237 (65) 2,237
Purchase price fair value adjustment 0 0 (2,305) 0
Loss on early extinguishment of debt 0 0 (18,523) 0
Income from continuing operations 30,143 27,679 90,296 172,733
Net income from discontinued operations 1,406 951 1,725 2,883
Gain on sale of discontinued operations 13,787 0 14,900 6,627
Net income 45,336 28,630 106,921 182,243
Net income attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships (2,901) (1,835) (8,806) (6,792)
Net income attributable to SL Green 41,873 26,224 96,423 173,918
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 23,296 12,155 55,736 113,618
Gain on sale of discontinued operations 13,787 0 14,900 6,627
Basic earnings per share:        
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (in dollars per share) 0.00 (0.05) (0.04) 0.19
Gain on sale of discontinued operations (in dollars per share) 0.15 0.00 0.16 0.07
Diluted earnings per share:        
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (in dollars per share) 0.00 (0.05) (0.04) 0.19
Gain on sale of discontinued operations (in dollars per share) 0.15 0.00 0.16 0.07
Amounts attributable to SLGOP common unitholders:        
Purchase price fair value adjustment 0 0 (2,305) 0
Preferred unit distributions (562) (571) (1,692) (1,533)
Preferred unit redemption costs 0 (10,010) (12,160) (10,010)
Perpetual preferred unit distributions (3,738) (7,915) (18,144) (23,004)
Net income attributable to SLGOP common unitholders 38,135 8,299 66,119 140,904
Net income from discontinued operations $ 1,406 $ 951 $ 1,725 $ 2,883
Net income from continuing operations before discontinued operations (usd per share) 0.25 0.13 0.57 1.24
Net income from discontinued operations (usd per share) 0.00 0.01 0.01 0.03
Net Income attributable to SLGOP common unitholders (usd per share) 0.40 0.09 0.70 1.53
Net income from continuing operations before discontinued operations (usd per share) 0.25 0.13 0.56 1.23
Net income from discontinued operations (usd per share) 0.00 0.01 0.02 0.03
Net income attributable to SLGOP common unitholders (usd per share) 0.40 0.09 0.70 1.52
Dividends per unit (usd per share) $ 0.33 $ 0.25 $ 0.99 $ 0.75
Basic weighted average common units outstanding (shares) 94,780 93,561 94,389 92,117
Diluted weighted average common units and common unit equivalents outstanding (shares) 95,016 93,891 94,631 92,485