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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, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Rental revenue, net $ 291,293 $ 242,439 $ 826,877 $ 741,022
Escalation and reimbursement 43,826 42,026 120,209 114,850
Investment income 43,969 44,448 137,767 143,887
Other income 11,186 9,869 48,498 20,855
Total revenues 390,274 338,782 1,133,351 1,020,614
Expenses        
Operating expenses, including $5,104 and $13,183 (2014) and $4,698 and $12,858 (2013) of related party expenses 72,111 72,784 211,118 205,921
Real estate taxes 55,548 51,529 159,702 149,857
Ground rent 8,088 7,930 24,161 23,988
Interest expense, net of interest income 82,376 78,226 236,424 232,862
Amortization of deferred financing costs 6,679 4,121 15,737 12,404
Depreciation and amortization 94,443 84,162 274,337 238,666
Transaction related costs, net of recoveries 2,383 (2,368) 6,554 717
Marketing, general and administrative 22,649 20,869 69,778 63,450
Total expenses 344,277 317,253 997,811 927,865
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, loss on sale of investment in marketable securities, purchase price fair value adjustment and loss on early extinguishment of debt 45,997 21,529 135,540 92,749
Equity in net income from unconsolidated joint ventures 6,034 2,939 20,781 4,251
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 16,496 (354) 122,580 (3,937)
Loss on sale of investment in marketable securities 0 0 0 (65)
Purchase price fair value adjustment (4,000) 0 67,446 (2,305)
Loss on early extinguishment of debt (24,475) 0 (25,500) (18,523)
Income from continuing operations 40,052 24,114 320,847 72,170
Net income from discontinued operations 4,035 7,435 15,449 19,851
Gain on sale of discontinued operations 29,507 13,787 144,242 14,900
Net income 73,594 45,336 480,538 106,921
Net income attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (2,636) (1,110) (16,010) (1,909)
Noncontrolling interests in other partnerships (1,712) (2,901) (5,045) (8,806)
Preferred units distribution (820) (562) (1,950) (1,692)
Net income attributable to SL Green 68,426 40,763 457,533 94,514
Preferred stock redemption costs 0 0 0 (12,160)
Perpetual preferred stock dividends (3,738) (3,738) (11,214) (18,144)
Net income attributable to SL Green common stockholders 64,688 37,025 446,319 64,210
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 20,312 16,772 108,710 36,518
Purchase price fair value adjustment (3,856) 0 65,111 (2,239)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 15,901 (344) 118,336 (3,824)
Net income from discontinued operations 3,889 7,216 14,914 19,282
Gain on sale of discontinued operations 28,442 13,381 139,248 14,473
Net income attributable to SL Green common stockholders 64,688 37,025 446,319 64,210
Basic earnings per share:        
Income from continuing operations before gains (loss) on sale and discontinued operations (usd per share) $ 0.17 $ 0.18 $ 1.82 $ 0.37
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate $ 0.17 $ 0.00 $ 1.24 $ (0.04)
Net income from discontinued operations (usd per share) $ 0.04 $ 0.07 $ 0.16 $ 0.21
Gain on sale of discontinued operations (usd per share) $ 0.30 $ 0.15 $ 1.46 $ 0.16
Net income attributable to SL Green common stockholders (usd per share) $ 0.68 $ 0.40 $ 4.68 $ 0.70
Diluted earnings per share:        
Income from continuing operations before gains (loss) on sale and discontinued operations (usd per share) $ 0.17 $ 0.18 $ 1.82 $ 0.37
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate $ 0.17 $ 0.00 $ 1.23 $ (0.04)
Net income from discontinued operations (usd per share) $ 0.04 $ 0.07 $ 0.16 $ 0.21
Gain on sale of discontinued operations (usd per share) $ 0.30 $ 0.15 $ 1.45 $ 0.16
Net income attributable to SL Green common stockholders (usd per share) $ 0.68 $ 0.40 $ 4.66 $ 0.70
Dividends per share (usd per share) $ 0.50 $ 0.33 $ 1.50 $ 0.99
Basic weighted average common shares outstanding (in shares) 95,734 91,988 95,437 91,684
Diluted weighted average common shares and common share equivalents outstanding (usd per share) 99,706 95,016 99,322 94,631
SL Green Operating Partnership
       
Revenues        
Rental revenue, net 291,293 242,439 826,877 741,022
Escalation and reimbursement 43,826 42,026 120,209 114,850
Investment income 43,969 44,448 137,767 143,887
Other income 11,186 9,869 48,498 20,855
Total revenues 390,274 338,782 1,133,351 1,020,614
Expenses        
Operating expenses, including $5,104 and $13,183 (2014) and $4,698 and $12,858 (2013) of related party expenses 72,111 72,784 211,118 205,921
Real estate taxes 55,548 51,529 159,702 149,857
Ground rent 8,088 7,930 24,161 23,988
Interest expense, net of interest income 82,376 78,226 236,424 232,862
Amortization of deferred financing costs 6,679 4,121 15,737 12,404
Depreciation and amortization 94,443 84,162 274,337 238,666
Transaction related costs, net of recoveries 2,383 (2,368) 6,554 717
Marketing, general and administrative 22,649 20,869 69,778 63,450
Total expenses 344,277 317,253 997,811 927,865
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, loss on sale of investment in marketable securities, purchase price fair value adjustment and loss on early extinguishment of debt 45,997 21,529 135,540 92,749
Equity in net income from unconsolidated joint ventures 6,034 2,939 20,781 4,251
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 16,496 (354) 122,580 (3,937)
Loss on sale of investment in marketable securities 0 0 0 (65)
Purchase price fair value adjustment (4,000) 0 67,446 (2,305)
Loss on early extinguishment of debt (24,475) 0 (25,500) (18,523)
Income from continuing operations 40,052 24,114 320,847 72,170
Net income from discontinued operations 4,035 7,435 15,449 19,851
Gain on sale of discontinued operations 29,507 13,787 144,242 14,900
Net income 73,594 45,336 480,538 106,921
Net income attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships (1,712) (2,901) (5,045) (8,806)
Net income attributable to SL Green 71,062 41,873 473,543 96,423
Preferred stock redemption costs 0 0 0 (12,160)
Net income attributable to SL Green common stockholders 67,324 38,135 462,329 66,119
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 21,286 17,267 112,612 37,610
Purchase price fair value adjustment (4,000) 0 67,446 (2,305)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 16,496 (354) 122,580 (3,937)
Gain on sale of discontinued operations 29,507 13,787 144,242 14,900
Net income attributable to SL Green common stockholders 67,324 38,135 462,329 66,119
Basic earnings per share:        
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate $ 0.17 $ 0.00 $ 1.24 $ (0.04)
Gain on sale of discontinued operations (usd per share) $ 0.30 $ 0.15 $ 1.46 $ 0.16
Diluted earnings per share:        
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate $ 0.17 $ 0.00 $ 1.23 $ (0.04)
Gain on sale of discontinued operations (usd per share) $ 0.30 $ 0.15 $ 1.45 $ 0.16
Noncontrolling Interest [Abstract]        
Preferred unit distributions (820) (562) (1,950) (1,692)
Perpetual preferred unit distributions (3,738) (3,738) (11,214) (18,144)
Net income attributable to SLGOP common unitholders 67,324 38,135 462,329 66,119
Net income from discontinued operations $ 4,035 $ 7,435 $ 15,449 $ 19,851
Net income from continuing operations before gains (loss) on sale and discontinued operations (in dollars per share) $ 0.17 $ 0.18 $ 1.82 $ 0.37
Net income from discontinued operations (in dollars per share) $ 0.04 $ 0.07 $ 0.16 $ 0.21
Net income attributable to SLGOP common stockholders (in dollars per share) $ 0.68 $ 0.40 $ 4.68 $ 0.70
Income from continuing operations before gains (loss) on sale and discontinued operations (in dollars per share) $ 0.17 $ 0.18 $ 1.82 $ 0.37
Net income from discontinued operations (in dollars per share) $ 0.04 $ 0.07 $ 0.16 $ 0.21
Net income attributable to SLGOP common stockholders (in dollars per share) $ 0.68 $ 0.40 $ 4.66 $ 0.70
Dividends per unit (usd per share) $ 0.5 $ 0.33 $ 1.50 $ 0.99
Basic weighted average common shares outstanding (in shares) 99,319 94,780 98,860 94,389
Diluted weighted average common shares and common share equivalents outstanding (in shares) 99,706 95,016 99,322 94,631