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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Rental revenue, net $ 195,515 $ 248,028 $ 614,032 $ 733,105
Investment income 22,988 51,518 101,464 153,167
Other income 31,341 14,088 102,350 44,641
Total revenues 249,844 313,634 817,846 930,913
Expenses        
Operating expenses, including related party expenses of $2,801 and $9,289 in 2020 and $5,460 and $13,575 in 2019 45,910 59,847 140,673 175,862
Real estate taxes 43,522 49,626 131,805 143,008
Operating lease rent 6,973 8,295 22,171 24,891
Interest expense, net of interest income 23,536 48,112 91,100 145,797
Amortization of deferred financing costs 3,151 3,112 8,312 8,566
Depreciation and amortization 92,516 70,464 256,736 208,268
Loan loss and other investment reserves, net of recoveries 8,957 0 27,018 0
Transaction related costs 45 44 483 360
Marketing, general and administrative 23,602 23,841 66,682 75,300
Total expenses 248,212 263,341 744,980 782,052
Equity in net loss from unconsolidated joint ventures (432) (9,864) (15,445) (22,644)
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate 0 0 0 76,181
Purchase price and other fair value adjustments 0 3,799 0 69,389
Gain on sale of real estate, net 26,104 3,541 163,624 2,492
Depreciable real estate reserves and impairment (6,627) (7,047) (6,627) (7,047)
Net income 20,677 40,722 214,418 267,232
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (802) (1,719) (10,073) (12,306)
Noncontrolling interests in other partnerships (414) 624 (1,145) 2,524
Preferred units distributions (1,864) (2,732) (6,883) (8,185)
Net income (loss) attributable to SL Green/SLGOP 17,597 36,895 196,317 249,265
Perpetual preferred stock dividends (3,738) (3,738) (11,213) (11,213)
Net income attributable to SL Green common stockholders $ 13,859 $ 33,157 $ 185,104 $ 238,052
Basic earnings per share (usd per share) $ 0.19 $ 0.40 $ 2.44 $ 2.87
Diluted earnings per share (usd per share) $ 0.19 $ 0.40 $ 2.44 $ 2.87
Basic weighted average common shares outstanding (in shares) 73,020 82,292 75,521 82,855
Diluted weighted average common shares and common share equivalents outstanding (in shares) 77,491 86,714 80,085 87,309
Operating expenses, paid to related parties $ 2,801 $ 5,460 $ 9,289 $ 13,575
SL Green Operating Partnership        
Revenues        
Rental revenue, net 195,515 248,028 614,032 733,105
Investment income 22,988 51,518 101,464 153,167
Other income 31,341 14,088 102,350 44,641
Total revenues 249,844 313,634 817,846 930,913
Expenses        
Operating expenses, including related party expenses of $2,801 and $9,289 in 2020 and $5,460 and $13,575 in 2019 45,910 59,847 140,673 175,862
Real estate taxes 43,522 49,626 131,805 143,008
Operating lease rent 6,973 8,295 22,171 24,891
Interest expense, net of interest income 23,536 48,112 91,100 145,797
Amortization of deferred financing costs 3,151 3,112 8,312 8,566
Depreciation and amortization 92,516 70,464 256,736 208,268
Loan loss and other investment reserves, net of recoveries 8,957 0 27,018 0
Transaction related costs 45 44 483 360
Marketing, general and administrative 23,602 23,841 66,682 75,300
Total expenses 248,212 263,341 744,980 782,052
Equity in net loss from unconsolidated joint ventures (432) (9,864) (15,445) (22,644)
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate 0 0 0 76,181
Purchase price and other fair value adjustments 0 3,799 0 69,389
Gain on sale of real estate, net 26,104 3,541 163,624 2,492
Depreciable real estate reserves and impairment (6,627) (7,047) (6,627) (7,047)
Net income 20,677 40,722 214,418 267,232
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships (414) 624 (1,145) 2,524
Preferred units distributions (1,864) (2,732) (6,883) (8,185)
Net income (loss) attributable to SL Green/SLGOP 18,399 38,614 206,390 261,571
Perpetual preferred unit distributions (3,738) (3,738) (11,213) (11,213)
Net income attributable to SLGOP common unitholders $ 14,661 $ 34,876 $ 195,177 $ 250,358
Basic earnings per unit (usd per share) $ 0.19 $ 0.40 $ 2.44 $ 2.87
Diluted earnings per unit (usd per share) $ 0.19 $ 0.40 $ 2.44 $ 2.87
Basic weighted average common units outstanding (in shares) 77,049 86,550 79,644 87,138
Diluted weighted average common units and common unit equivalents outstanding (in shares) 77,491 86,714 80,085 87,309
Operating expenses, paid to related parties $ 2,801 $ 5,460 $ 9,289 $ 13,575