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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Rental revenue, net $ 211,369 $ 279,407 $ 426,738 $ 560,736
Escalation and reimbursement 27,052 42,620 53,451 86,812
Investment income 49,273 60,622 94,563 100,921
Other income 13,422 15,501 28,059 27,062
Total revenues 301,116 398,150 602,811 775,531
Expenses        
Operating expenses, including related party expenses of $4,665 and $8,499 in 2018 and $5,262 and $9,436 in 2017, respectively. 56,237 70,852 116,019 145,358
Real estate taxes 45,322 60,945 90,983 122,013
Ground rent 8,846 8,308 17,154 16,616
Interest expense, net of interest income 53,611 64,856 101,527 130,478
Amortization of deferred financing costs 3,546 3,432 7,083 8,193
Depreciation and amortization 67,914 133,054 137,302 227,188
Transaction related costs 348 46 510 179
Marketing, general and administrative 22,479 24,256 46,007 48,399
Total expenses 258,303 365,749 516,585 698,424
Net income before equity in net income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price and other fair value adjustments, (loss) gain on sale of real estate net, depreciable real estate reserves, and gain on sale of marketable securities 42,813 32,401 86,226 77,107
Equity in net income from unconsolidated joint ventures 4,702 3,412 8,738 10,026
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 72,025 13,089 65,585 15,136
Purchase price and other fair value adjustments 11,149 0 60,442 0
(Loss) gain on sale of real estate, net (14,790) (3,823) 8,731 (3,256)
Depreciable real estate reserves 0 (29,064) 0 (85,336)
Gain on sale of investment in marketable securities 0 0 0 3,262
Net income 115,899 16,015 229,722 16,939
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (5,586) (419) (10,858) (895)
Noncontrolling interests in other partnerships (173) (786) (371) 16,705
Preferred units distributions (2,847) (2,851) (5,696) (5,701)
Net income (loss) attributable to SL Green/SLGOP 107,293 11,959 212,797 27,048
Perpetual preferred stock dividends (3,737) (3,737) (7,475) (7,475)
Amounts attributable to SL Green common stockholders:        
Income before depreciable real estate reserves and gains on sale and fair value adjustments 38,674 27,156 77,333 89,818
Purchase price and other fair value adjustments 10,578 0 57,406 0
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 68,336 12,517 62,291 14,474
(Loss) gain on sale of real estate, net (14,032) (3,656) 8,292 (3,114)
Depreciable real estate reserves 0 (27,795) 0 (81,605)
Net income attributable to SL Green common stockholders $ 103,556 $ 8,222 $ 205,322 $ 19,573
Basic earnings per share:        
Income (loss) before depreciable real estate reserves and gains (losses) on sale (in dollars per share) $ 0.44 $ 0.27 $ 0.87 $ 0.90
Purchase price and other fair value adjustments (in dollars per share) 0.12 0.00 0.65 0.00
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (in dollars per share) 0.79 0.13 0.70 0.14
Gain on sale of real estate, net (in dollars per share) (0.16) (0.04) 0.09 (0.03)
Depreciable real estate reserves (in dollars per share) 0.00 (0.28) 0.00 (0.81)
Net income attributable to SL Green common stockholders (usd per share) 1.19 0.08 2.31 0.20
Diluted earnings per share:        
Purchase price and other fair value adjustments (in dollars per share) 0.12 0.00 0.65 0.00
Income (loss) before depreciable real estate reserves and gains (losses) on sale (in dollars per share) 0.44 0.27 0.87 0.89
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (in dollars per share) 0.79 0.12 0.70 0.14
Gain on sale of real estate (in dollars per share) (0.16) (0.04) 0.09 (0.03)
Depreciable real estate reserves (in dollars per share) 0.00 (0.27) 0.00 (0.81)
Net income attributable to SL Green common stockholders (usd per share) 1.19 0.08 2.31 0.19
Dividends per share/unit (usd per share) $ 0.8125 $ 0.775 $ 1.625 $ 1.55
Basic weighted average common shares outstanding (in shares) 87,176 99,900 88,772 100,268
Diluted weighted average common shares and common share equivalents outstanding (in shares) 92,083 104,732 93,667 105,140
SL Green Operating Partnership        
Revenues        
Rental revenue, net $ 211,369 $ 279,407 $ 426,738 $ 560,736
Escalation and reimbursement 27,052 42,620 53,451 86,812
Investment income 49,273 60,622 94,563 100,921
Other income 13,422 15,501 28,059 27,062
Total revenues 301,116 398,150 602,811 775,531
Expenses        
Operating expenses, including related party expenses of $4,665 and $8,499 in 2018 and $5,262 and $9,436 in 2017, respectively. 56,237 70,852 116,019 145,358
Real estate taxes 45,322 60,945 90,983 122,013
Ground rent 8,846 8,308 17,154 16,616
Interest expense, net of interest income 53,611 64,856 101,527 130,478
Amortization of deferred financing costs 3,546 3,432 7,083 8,193
Depreciation and amortization 67,914 133,054 137,302 227,188
Transaction related costs 348 46 510 179
Marketing, general and administrative 22,479 24,256 46,007 48,399
Total expenses 258,303 365,749 516,585 698,424
Net income before equity in net income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price and other fair value adjustments, (loss) gain on sale of real estate net, depreciable real estate reserves, and gain on sale of marketable securities 42,813 32,401 86,226 77,107
Equity in net income from unconsolidated joint ventures 4,702 3,412 8,738 10,026
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 72,025 13,089 65,585 15,136
Purchase price and other fair value adjustments 11,149 0    
(Loss) gain on sale of real estate, net (14,790) (3,823) 8,731 (3,256)
Depreciable real estate reserves 0 (29,064) 0 (85,336)
Gain on sale of investment in marketable securities 0 0 0 3,262
Net income 115,899 16,015 229,722 16,939
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership     (10,858)  
Noncontrolling interests in other partnerships (173) (786) (371) 16,705
Preferred units distributions (2,847) (2,851) (5,696) (5,701)
Net income (loss) attributable to SL Green/SLGOP 112,879 12,378 223,655 27,943
Perpetual preferred unit distributions (3,737) (3,737) (7,475) (7,475)
Net income attributable to SLGOP common unitholders 109,142 8,641 216,180 20,468
Amounts attributable to SL Green common stockholders:        
Income before depreciable real estate reserves and gains on sale and fair value adjustments 40,758 28,439 81,422 93,924
Purchase price and other fair value adjustments 11,149 0 60,442 0
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 72,025 13,089 65,585 15,136
(Loss) gain on sale of real estate, net (14,790) (3,823) 8,731 (3,256)
Depreciable real estate reserves $ 0 $ (29,064) $ 0 $ (85,336)
Basic earnings per share:        
Income (loss) before depreciable real estate reserves and gains (losses) on sale (in dollars per share) $ 0.44 $ 0.27 $ 0.87 $ 0.90
Purchase price and other fair value adjustments (in dollars per share) 0.12 0.00 0.65 0.00
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (in dollars per share) 0.79 0.13 0.70 0.14
Gain on sale of real estate, net (in dollars per share) (0.16) (0.04) 0.09 (0.03)
Depreciable real estate reserves (in dollars per share) 0.00 (0.28) 0.00 (0.81)
Net income attributable to SLGOP common unitholders (usd per share) 1.19 0.08 2.31 0.20
Diluted earnings per share:        
Income (loss) before depreciable real estate reserves and gains (losses) on sale (in dollars per share) 0.44 0.27 0.87 0.89
Purchase price and other fair value adjustments (in dollars per share) 0.12 0.00 0.65 0.00
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (in dollars per share) 0.79 0.12 0.70 0.14
Gain on sale of real estate (in dollars per share) (0.16) (0.04) 0.09 (0.03)
Depreciable real estate reserves (in dollars per share) 0.00 (0.27) 0.00 (0.81)
Net income attributable to SLGOP common unitholders (usd per share) 1.19 0.08 2.31 0.19
Dividends per share/unit (usd per share) $ 0.8125 $ 0.775 $ 1.625 $ 1.55
Basic weighted average common shares outstanding (in shares) 91,882 104,462 93,467 104,852
Basic weighted average common units outstanding (in shares) 91,882 104,462 93,467 104,852
Diluted weighted average common units and common unit equivalents outstanding (in shares) 92,083 104,732 93,667 105,140