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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Rental revenue, net $ 281,482 $ 318,465 $ 1,043,898 $ 926,020
Escalation and reimbursement 53,130 48,254 147,357 130,630
Investment income 75,396 49,328 174,347 136,588
Other income 6,673 16,019 124,137 44,201
Total revenues 416,681 432,066 1,489,739 1,237,439
Expenses        
Operating expenses, including $5,042 and $15,171 in 2016 and $5,238 and $13,415 in 2015 of related party expenses 79,425 78,648 234,269 225,539
Real estate taxes 64,133 61,009 187,931 173,018
Ground rent 8,338 8,252 24,953 24,526
Interest expense, net of interest income 72,565 84,141 256,326 235,694
Amortization of deferred financing costs 4,815 7,160 20,180 19,727
Depreciation and amortization 112,665 146,185 717,015 454,087
Transaction related costs 2,593 5,829 5,987 10,039
Marketing, general and administrative 25,458 23,475 73,974 72,139
Total expenses 369,992 414,699 1,520,635 1,214,769
Income (loss) from continuing operations before equity in net (loss) income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate, gain on sale of real estate, net, depreciable real estate reserves, loss on sale of investment in marketable securities and loss on early extinguishment of debt 46,689 17,367 (30,896) 22,670
Equity in net (loss) income from unconsolidated joint ventures (3,968) 3,627 11,969 10,651
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 225 15,281 43,588 16,050
Gain on sale of real estate, net 397 159,704 210,750 159,704
Depreciable real estate reserves 0 (19,226) (10,387) (19,226)
Loss on sale of investment in marketable securities 0 0 (83) 0
Loss on early extinguishment of debt 0 0 0 (49)
Income from continuing operations 43,343 176,753 224,941 189,800
Net income from discontinued operations 0 0 0 427
Gain on sale of discontinued operations 0 0 0 12,983
Net income 43,343 176,753 224,941 203,210
Net income attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (1,663) (6,467) (8,171) (6,634)
Noncontrolling interests in other partnerships (836) (665) (6,245) (13,217)
Preferred units distributions (2,854) (2,225) (8,382) (4,316)
Net income (loss) attributable to SL Green/SLGOP 37,990 167,396 202,143 179,043
Perpetual preferred stock dividends (3,738) (3,738) (11,213) (11,214)
Amounts attributable to SL Green common stockholders:        
Income (loss) from continuing operations before depreciable real estate reserves, gains on sale and discontinued operations 33,657 13,768 (43,041) 4,357
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 215 14,705 41,805 15,439
Net income from discontinued operations 0 0 0 411
Gain on sale of discontinued operations 0 0 0 12,489
Gain on sale of real estate 380 153,687 202,128 153,628
Depreciable real estate reserves 0 (18,502) (9,962) (18,495)
Net income attributable to SL Green common stockholders $ 34,252 $ 163,658 $ 190,930 $ 167,829
Basic earnings per share:        
Income (loss) from continuing operations before depreciable real estate reserves, gains on sale and discontinued operations (in usd per share) $ 0.34 $ 0.14 $ (0.43) $ 0.04
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) 0.00 0.15 0.42 0.16
Net income from discontinued operations (usd per share) 0.00 0.00 0.00 0.00
Gain on sale of discontinued operations (usd per share) 0.00 0.00 0.00 0.13
Gain on sale of real estate (in dollars per share) 0.00 1.54 2.02 1.55
Depreciable Real Estate Reserves, Effect on Earnings, Per Basic Share 0.00 (0.19) (0.10) (0.19)
Net income attributable to SL Green common stockholders (usd per share) 0.34 1.64 1.91 1.69
Diluted earnings per share:        
Income (loss) from continuing operations before depreciable real estate reserves, gains on sale and discontinued operations (in usd per share) 0.34 0.14 (0.43) 0.04
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) 0.00 0.15 0.42 0.16
Net income from discontinued operations (in usd per share) 0.00 0.00 0.00 0.00
Gain on sale of discontinued operations (usd per share) 0.00 0.00 0.00 0.13
Gain on sale of real estate (in dollars per share) 0.00 1.54 2.01 1.54
Depreciable real estate reserves (in dollars per share) 0.00 (0.19) (0.10) (0.19)
Net income attributable to SL Green common stockholders (usd per share) 0.34 1.64 1.90 1.68
Dividends per share/unit (usd per share) $ 0.72 $ 0.60 $ 2.16 $ 1.80
Basic weighted average common shares outstanding (in shares) 100,233 99,621 100,140 99,205
Diluted weighted average common shares and common share equivalents outstanding (in shares) 105,143 103,929 104,761 103,609
SL Green Operating Partnership        
Revenues        
Rental revenue, net $ 281,482 $ 318,465 $ 1,043,898 $ 926,020
Escalation and reimbursement 53,130 48,254 147,357 130,630
Investment income 75,396 49,328 174,347 136,588
Other income 6,673 16,019 124,137 44,201
Total revenues 416,681 432,066 1,489,739 1,237,439
Expenses        
Operating expenses, including $5,042 and $15,171 in 2016 and $5,238 and $13,415 in 2015 of related party expenses 79,425 78,648 234,269 225,539
Real estate taxes 64,133 61,009 187,931 173,018
Ground rent 8,338 8,252 24,953 24,526
Interest expense, net of interest income 72,565 84,141 256,326 235,694
Amortization of deferred financing costs 4,815 7,160 20,180 19,727
Depreciation and amortization 112,665 146,185 717,015 454,087
Transaction related costs 2,593 5,829 5,987 10,039
Marketing, general and administrative 25,458 23,475 73,974 72,139
Total expenses 369,992 414,699 1,520,635 1,214,769
Income (loss) from continuing operations before equity in net (loss) income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate, gain on sale of real estate, net, depreciable real estate reserves, loss on sale of investment in marketable securities and loss on early extinguishment of debt 46,689 17,367 (30,896) 22,670
Equity in net (loss) income from unconsolidated joint ventures (3,968) 3,627 11,969 10,651
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 225 15,281 43,588 16,050
Gain on sale of real estate, net 397 159,704 210,750 159,704
Depreciable real estate reserves 0 (19,226) (10,387) (19,226)
Loss on sale of investment in marketable securities 0 0 (83) 0
Loss on early extinguishment of debt 0 0 0 (49)
Income from continuing operations 43,343 176,753 224,941 189,800
Net income from discontinued operations 0 0 0 427
Gain on sale of discontinued operations 0 0 0 12,983
Net income 43,343 176,753 224,941 203,210
Net income attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership     (8,171)  
Noncontrolling interests in other partnerships (836) (665) (6,245) (13,217)
Preferred units distributions (2,854) (2,225) (8,382) (4,316)
Net income (loss) attributable to SL Green/SLGOP 39,653 173,863 210,314 185,677
Perpetual preferred unit distributions (3,738) (3,738) (11,213) (11,214)
Net income attributable to SLGOP common unitholders 35,915 170,125 199,101 174,463
Amounts attributable to SL Green common stockholders:        
Income (loss) from continuing operations before depreciable real estate reserves, gains on sale and discontinued operations 35,293 14,366 (44,850) 4,525
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 225 15,281 43,588 16,050
Net income from discontinued operations 0 0 0 427
Gain on sale of discontinued operations 0 0 0 12,983
Gain on sale of real estate 397 159,704 210,750 159,704
Depreciable real estate reserves $ 0 $ (19,226) $ (10,387) $ (19,226)
Basic earnings per share:        
(Loss) income from continuing operations before gains on sale and discontinued operations (usd per share) $ 0.34 $ 0.14 $ (0.43) $ 0.04
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) 0.00 0.15 0.42 0.16
Net income from discontinued operations (usd per share) 0.00 0.00 0.00 0.00
Gain on sale of discontinued operations (usd per share) 0.00 0.00 0.00 0.13
Gain on sale of real estate (in dollars per share) 0.00 1.54 2.02 1.55
Depreciable Real Estate Reserves, Effect on Earnings, Per Basic Share 0.00 (0.19) (0.10) (0.19)
Net income attributable to SLGOP common unitholders (usd per share) 0.34 1.64 1.91 1.69
Diluted earnings per share:        
(Loss) income from continuing operations before gains on sale and discontinued operations (in usd per share) 0.34 0.14 (0.43) 0.04
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share) 0.00 0.15 0.42 0.16
Net income from discontinued operations (in usd per share) 0.00 0.00 0.00 0.00
Gain on sale of discontinued operations (usd per share) 0.00 0.00 0.00 0.13
Gain on sale of real estate (in dollars per share) 0.00 1.54 2.01 1.54
Depreciable real estate reserves (in dollars per share) 0.00 (0.19) (0.10) (0.19)
Net income attributable to SLGOP common unitholders (usd per share) 0.34 1.64 1.90 1.68
Dividends per share/unit (usd per share) $ 0.72 $ 0.60 $ 2.16 $ 1.80
Basic weighted average common shares outstanding (in shares) 104,730 103,522 104,412 103,129
Basic weighted average common units outstanding (in shares) 104,730 103,522 104,412 103,129
Diluted weighted average common units and common unit equivalents outstanding (in shares) 105,143 103,929 104,761 103,609