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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Rental revenue, net $ 285,234 $ 262,743 $ 551,755 $ 518,560
Escalation and reimbursement 39,529 38,747 79,912 78,551
Investment income 39,714 46,731 93,798 99,439
Other income 22,750 5,723 37,331 11,015
Total revenues 387,227 353,944 762,796 707,565
Expenses        
Operating expenses, including $4,450 and $7,861 (2014) and $3,953 and $7,842 (2013) of related party expenses 70,675 68,611 144,160 139,780
Real estate taxes 53,267 51,749 108,583 104,203
Ground rent 8,040 7,930 16,073 16,058
Interest expense, net of interest income 78,611 79,551 156,330 157,860
Amortization of deferred financing costs 5,500 4,229 9,357 8,681
Depreciation and amortization 94,838 81,577 184,217 160,200
Transaction related costs, net of recoveries 1,697 1,706 4,171 3,085
Marketing, general and administrative 23,872 21,514 47,128 42,582
Total expenses 336,500 316,867 670,019 632,449
Income from continuing operations before equity in net income (loss) from unconsolidated joint ventures, equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, loss on sale of investment in marketable securities and loss on early extinguishment of debt 50,727 37,077 92,777 75,116
Equity in net income (loss) from unconsolidated joint ventures 8,619 (3,761) 14,748 1,313
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 1,444 (3,583) 106,084 (3,583)
Purchase price fair value adjustment 71,446 (2,305) 71,446 (2,305)
Loss on sale of investment in marketable securities 0 (8) 0 (65)
Loss on early extinguishment of debt (1,028) (10) (1,025) (18,523)
Income from continuing operations 131,208 27,410 284,030 51,953
Net income from discontinued operations 4,389 3,838 8,178 8,519
Gain on sale of discontinued operations 114,735 0 114,735 1,113
Net income 250,332 31,248 406,943 61,585
Net income attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (8,645) (244) (13,374) (799)
Noncontrolling interests in other partnerships (1,843) (3,004) (3,333) (5,905)
Preferred units distribution (565) (565) (1,130) (1,130)
Net income attributable to SL Green 239,279 27,435 389,106 53,751
Preferred stock redemption costs 0 (12,160) 0 (12,160)
Perpetual preferred stock dividends (3,738) (6,999) (7,475) (14,406)
Net income attributable to SL Green common stockholders 235,541 8,276 381,631 27,185
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 50,346 10,268 91,361 23,549
Purchase price fair value adjustment 68,909 (2,240) 69,027 (2,239)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 1,393 (3,482) 102,492 (3,481)
Net income from discontinued operations 4,233 3,730 7,901 8,275
Gain on sale of discontinued operations 110,660 0 110,850 1,081
Net income attributable to SL Green common stockholders 235,541 8,276 381,631 27,185
Basic earnings per share:        
Income from continuing operations before gains (loss) on sale and discontinued operations (usd per share) $ 1.25 $ 0.09 $ 1.69 $ 0.23
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) $ 0.02 $ (0.04) $ 1.08 $ (0.03)
Net income from discontinued operations (usd per share) $ 0.04 $ 0.04 $ 0.08 $ 0.09
Gain on sale of discontinued operations (usd per share) $ 1.16 $ 0.00 $ 1.16 $ 0.01
Net income attributable to SL Green common stockholders (usd per share) $ 2.47 $ 0.09 $ 4.01 $ 0.30
Diluted earnings per share:        
Income from continuing operations before gains (loss) on sale and discontinued operations (usd per share) $ 1.24 $ 0.09 $ 1.68 $ 0.23
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) $ 0.02 $ (0.04) $ 1.07 $ (0.03)
Net income from discontinued operations (usd per share) $ 0.05 $ 0.04 $ 0.08 $ 0.09
Gain on sale of discontinued operations (usd per share) $ 1.15 $ 0.00 $ 1.16 $ 0.01
Net income attributable to SL Green common stockholders (usd per share) $ 2.46 $ 0.09 $ 3.99 $ 0.30
Dividends per share (usd per share) $ 0.50 $ 0.33 $ 1.00 $ 0.66
Basic weighted average common shares outstanding (in shares) 95,455 91,660 95,288 91,530
Diluted weighted average common shares and common share equivalents outstanding (usd per share) 99,484 94,536 99,128 94,452
SL Green Operating Partnership
       
Revenues        
Rental revenue, net 285,234 262,743 551,755 518,560
Escalation and reimbursement 39,529 38,747 79,912 78,551
Investment income 39,714 46,731 93,798 99,439
Other income 22,750 5,723 37,331 11,015
Total revenues 387,227 353,944 762,796 707,565
Expenses        
Operating expenses, including $4,450 and $7,861 (2014) and $3,953 and $7,842 (2013) of related party expenses 70,675 68,611 144,160 139,780
Real estate taxes 53,267 51,749 108,583 104,203
Ground rent 8,040 7,930 16,073 16,058
Interest expense, net of interest income 78,611 79,551 156,330 157,860
Amortization of deferred financing costs 5,500 4,229 9,357 8,681
Depreciation and amortization 94,838 81,577 184,217 160,200
Transaction related costs, net of recoveries 1,697 1,706 4,171 3,085
Marketing, general and administrative 23,872 21,514 47,128 42,582
Total expenses 336,500 316,867 670,019 632,449
Income from continuing operations before equity in net income (loss) from unconsolidated joint ventures, equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, loss on sale of investment in marketable securities and loss on early extinguishment of debt 50,727 37,077 92,777 75,116
Equity in net income (loss) from unconsolidated joint ventures 8,619 (3,761) 14,748 1,313
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 1,444 (3,583) 106,084 (3,583)
Purchase price fair value adjustment 71,446 (2,305) 71,446 (2,305)
Loss on sale of investment in marketable securities 0 (8) 0 (65)
Loss on early extinguishment of debt (1,028) (10) (1,025) (18,523)
Income from continuing operations 131,208 27,410 284,030 51,953
Net income from discontinued operations 4,389 3,838 8,178 8,519
Gain on sale of discontinued operations 114,735 0 114,735 1,113
Net income 250,332 31,248 406,943 61,585
Net income attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships (1,843) (3,004) (3,333) (5,905)
Net income attributable to SL Green 247,924 27,679 402,480 54,550
Preferred stock redemption costs 0 (12,160) 0 (12,160)
Net income attributable to SL Green common stockholders 244,186 8,520 395,005 27,984
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 52,172 10,570 94,562 24,240
Purchase price fair value adjustment 71,446 (2,305) 71,446 (2,305)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 1,444 (3,583) 106,084 (3,583)
Gain on sale of discontinued operations 114,735 0 114,735 1,113
Net income attributable to SL Green common stockholders 244,186 8,520 395,005 27,984
Basic earnings per share:        
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) $ 0.02 $ (0.04) $ 1.08 $ (0.03)
Gain on sale of discontinued operations (usd per share) $ 1.16 $ 0.00 $ 1.16 $ 0.01
Diluted earnings per share:        
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) $ 0.02 $ (0.04) $ 1.07 $ (0.03)
Gain on sale of discontinued operations (usd per share) $ 1.15 $ 0.00 $ 1.16 $ 0.01
Dividends per share (usd per share)     $ 1.00  
Noncontrolling Interest [Abstract]        
Preferred unit distributions (565) (565) (1,130) (1,130)
Perpetual preferred unit distributions (3,738) (6,999) (7,475) (14,406)
Net income attributable to SLGOP common unitholders 244,186 8,520 395,005 27,984
Net income from discontinued operations $ 4,389 $ 3,838 $ 8,178 $ 8,519
Net income from continuing operations before gains (loss) on sale and discontinued operations (in dollars per share) $ 1.25 $ 0.09 $ 1.69 $ 0.23
Net income from discontinued operations (in dollars per share) $ 0.04 $ 0.04 $ 0.08 $ 0.09
Net income attributable to SLGOP common stockholders (in dollars per share) $ 2.47 $ 0.09 $ 4.01 $ 0.30
Income from continuing operations before gains (loss) on sale and discontinued operations (in dollars per share) $ 1.24 $ 0.09 $ 1.68 $ 0.23
Net income from discontinued operations (in dollars per share) $ 0.05 $ 0.04 $ 0.08 $ 0.09
Net income attributable to SLGOP common stockholders (in dollars per share) $ 2.46 $ 0.09 $ 3.99 $ 0.30
Dividends per unit (usd per share) $ 0.5 $ 0.33 $ 1.00 $ 0.66
Basic weighted average common shares outstanding (in shares) 98,970 94,312 98,627 94,224
Diluted weighted average common shares and common share equivalents outstanding (in shares) 99,484 94,536 99,128 94,452