XML 19 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Rental revenue, net $ 221,763,000 $ 274,765,000 $ 648,501,000 $ 835,501,000
Escalation and reimbursement 29,103,000 44,749,000 82,554,000 131,561,000
Investment income 48,977,000 47,820,000 143,540,000 148,741,000
Other income 7,702,000 7,266,000 35,761,000 34,328,000
Total revenues 307,545,000 374,600,000 910,356,000 1,150,131,000
Expenses        
Operating expenses, including related party expenses of $4,790 and $13,289 in 2018 and $5,505 and $14,941 in 2017, respectively. 56,852,000 75,927,000 172,871,000 221,285,000
Real estate taxes 48,805,000 64,160,000 139,788,000 186,173,000
Ground rent 9,507,000 8,307,000 26,661,000 24,923,000
Interest expense, net of interest income 55,168,000 65,634,000 156,695,000 196,112,000
Amortization of deferred financing costs 2,630,000 4,008,000 9,713,000 12,201,000
Depreciation and amortization 70,747,000 91,728,000 208,049,000 318,916,000
Loan loss and other investment reserves, net of recoveries 1,087,000 0 1,087,000 0
Transaction related costs 163,000 186,000 673,000 365,000
Marketing, general and administrative 20,594,000 23,963,000 66,601,000 72,362,000
Total expenses 265,553,000 333,913,000 782,138,000 1,032,337,000
Equity in net income from unconsolidated joint ventures 971,000 4,078,000 9,709,000 14,104,000
(Loss) gain on sale of real estate, net (2,504,000) 0 6,227,000 (3,256,000)
Depreciable real estate reserves (6,691,000) 0 (6,691,000) (85,336,000)
Purchase price and other fair value adjustments (3,057,000) 0 57,385,000 0
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 70,937,000 1,030,000 136,522,000 16,166,000
Gain on sale of investment in marketable securities 0 0 0 3,262,000
Loss on early extinguishment of debt (2,194,000) 0 (2,194,000) 0
Net income 99,454,000 45,795,000 329,176,000 62,734,000
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (4,797,000) (1,812,000) (15,656,000) (2,707,000)
Noncontrolling interests in other partnerships 136,000 1,474,000 (234,000) 18,179,000
Preferred units distributions (2,846,000) (2,850,000) (8,542,000) (8,551,000)
Net income (loss) attributable to SL Green/SLGOP 91,947,000 42,607,000 304,744,000 69,655,000
Perpetual preferred stock dividends (3,738,000) (3,738,000) (11,213,000) (11,213,000)
Net income attributable to SL Green common stockholders $ 88,209,000 $ 38,869,000 $ 293,531,000 $ 58,442,000
Basic Earnings per Share (usd per share) $ 1.03 $ 0.40 $ 3.34 $ 0.59
Diluted Earnings per Share (usd per share) $ 1.03 $ 0.40 $ 3.34 $ 0.59
Basic weighted average common shares outstanding (in shares) 85,566 97,783 87,692 99,431
Diluted weighted average common shares and common share equivalents outstanding (in shares) 90,428 102,570 92,580 104,280
Diluted weighted average common units and common unit equivalents outstanding (in shares) 90,428 102,570 92,580 104,280
SL Green Operating Partnership        
Revenues        
Rental revenue, net $ 221,763,000 $ 274,765,000 $ 648,501,000 $ 835,501,000
Escalation and reimbursement 29,103,000 44,749,000 82,554,000 131,561,000
Investment income 48,977,000 47,820,000 143,540,000 148,741,000
Other income 7,702,000 7,266,000 35,761,000 34,328,000
Total revenues 307,545,000 374,600,000 910,356,000 1,150,131,000
Expenses        
Operating expenses, including related party expenses of $4,790 and $13,289 in 2018 and $5,505 and $14,941 in 2017, respectively. 56,852,000 75,927,000 172,871,000 221,285,000
Real estate taxes 48,805,000 64,160,000 139,788,000 186,173,000
Ground rent 9,507,000 8,307,000 26,661,000 24,923,000
Interest expense, net of interest income 55,168,000 65,634,000 156,695,000 196,112,000
Amortization of deferred financing costs 2,630,000 4,008,000 9,713,000 12,201,000
Depreciation and amortization 70,747,000 91,728,000 208,049,000 318,916,000
Loan loss and other investment reserves, net of recoveries 1,087,000 0 1,087,000 0
Transaction related costs 163,000 186,000 673,000 365,000
Marketing, general and administrative 20,594,000 23,963,000 66,601,000 72,362,000
Total expenses 265,553,000 333,913,000 782,138,000 1,032,337,000
Equity in net income from unconsolidated joint ventures 971,000 4,078,000 9,709,000 14,104,000
(Loss) gain on sale of real estate, net (2,504,000) 0 6,227,000 (3,256,000)
Depreciable real estate reserves (6,691,000) 0 (6,691,000) (85,336,000)
Purchase price and other fair value adjustments (3,057,000) 0 57,385,000 0
Equity in net gain on sale of interest in unconsolidated joint venture/real estate 70,937,000 1,030,000 136,522,000 16,166,000
Gain on sale of investment in marketable securities 0 0 0 3,262,000
Loss on early extinguishment of debt (2,194,000) 0 (2,194,000) 0
Net income 99,454,000 45,795,000 329,176,000 62,734,000
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership     (15,656,000)  
Noncontrolling interests in other partnerships 136,000 1,474,000 (234,000) 18,179,000
Preferred units distributions (2,846,000) (2,850,000) (8,542,000) (8,551,000)
Net income (loss) attributable to SL Green/SLGOP 96,744,000 44,419,000 320,400,000 72,362,000
Perpetual preferred unit distributions (3,738,000) (3,738,000) (11,213,000) (11,213,000)
Net income attributable to SLGOP common unitholders $ 93,006,000 $ 40,681,000 $ 309,187,000 $ 61,149,000
Basic Earnings per Unit (usd per share) $ 1.03 $ 0.40 $ 3.34 $ 0.59
Diluted Earnings per Unit (usd per share) $ 1.03 $ 0.40 $ 3.34 $ 0.59
Basic weighted average common shares outstanding (in shares)   102,326 92,369 104,001
Basic weighted average common units outstanding (in shares) 90,209      
Diluted weighted average common units and common unit equivalents outstanding (in shares) 90,428 102,570 92,580 104,280