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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Rental revenue, net $ 184,611 $ 195,886 $ 372,700 $ 418,517
Investment income 20,107 39,943 39,380 78,476
Other income 13,389 17,870 32,129 71,009
Total revenues 218,107 253,699 444,209 568,002
Expenses        
Operating expenses, including related party expenses of $3,039 and $5,264 in 2021 and $2,739 and $6,488 in 2020 43,883 40,897 86,167 94,763
Real estate taxes 43,768 41,661 89,179 88,283
Operating lease rent 6,707 7,831 13,446 15,198
Interest expense, net of interest income 18,960 30,070 42,348 67,564
Amortization of deferred financing costs 3,386 2,661 7,160 5,161
Depreciation and amortization 57,261 95,941 120,257 164,220
Loan loss and other investment reserves, net of recoveries 0 6,813 0 18,061
Transaction related costs 3 373 25 438
Marketing, general and administrative 22,064 23,510 44,949 43,080
Total expenses 196,032 249,757 403,531 496,768
Equity in net loss from unconsolidated joint ventures (12,970) (2,199) (15,834) (15,013)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 8,471 0 (4,158) 0
Purchase price and other fair value adjustments (1,947) 0 717 0
Gain on sale of real estate, net 98,960 64,884 97,572 137,520
Depreciable real estate reserves and impairment 2,545 0 (5,696) 0
Net income 117,134 66,627 113,279 193,741
Net income attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (6,282) (3,070) (5,806) (9,272)
Noncontrolling interests in other partnerships 40 (1,023) 1,539 (730)
Preferred units distributions (1,823) (2,353) (3,669) (5,019)
Net income (loss) attributable to SL Green/SLGOP 109,069 60,181 105,343 178,720
Perpetual preferred stock dividends (3,737) (3,737) (7,475) (7,475)
Net income attributable to SL Green common stockholders $ 105,332 $ 56,444 $ 97,868 $ 171,245
Basic earnings per share (usd per share) $ 1.52 $ 0.76 $ 1.41 $ 2.28
Diluted earnings per share (usd per share) $ 1.51 $ 0.76 $ 1.40 $ 2.28
Basic weighted average common shares outstanding (in shares) 68,980 73,538 68,996 74,598
Diluted weighted average common shares and common share equivalents outstanding (in shares) 73,727 78,066 73,899 79,208
SL Green Operating Partnership        
Revenues        
Rental revenue, net $ 184,611 $ 195,886 $ 372,700 $ 418,517
Investment income 20,107 39,943 39,380 78,476
Other income 13,389 17,870 32,129 71,009
Total revenues 218,107 253,699 444,209 568,002
Expenses        
Operating expenses, including related party expenses of $3,039 and $5,264 in 2021 and $2,739 and $6,488 in 2020 43,883 40,897 86,167 94,763
Real estate taxes 43,768 41,661 89,179 88,283
Operating lease rent 6,707 7,831 13,446 15,198
Interest expense, net of interest income 18,960 30,070 42,348 67,564
Amortization of deferred financing costs 3,386 2,661 7,160 5,161
Depreciation and amortization 57,261 95,941 120,257 164,220
Loan loss and other investment reserves, net of recoveries 0 6,813 0 18,061
Transaction related costs 3 373 25 438
Marketing, general and administrative 22,064 23,510 44,949 43,080
Total expenses 196,032 249,757 403,531 496,768
Equity in net loss from unconsolidated joint ventures (12,970) (2,199) (15,834) (15,013)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 8,471 0 (4,158) 0
Purchase price and other fair value adjustments (1,947) 0 717 0
Gain on sale of real estate, net 98,960 64,884 97,572 137,520
Depreciable real estate reserves and impairment 2,545 0 (5,696) 0
Net income 117,134 66,627 113,279 193,741
Net income attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships 40 (1,023) 1,539 (730)
Preferred units distributions (1,823) (2,353) (3,669) (5,019)
Net income (loss) attributable to SL Green/SLGOP 115,351 63,251 111,149 187,992
Perpetual preferred unit distributions (3,737) (3,737) (7,475) (7,475)
Net income attributable to SLGOP common unitholders $ 111,614 $ 59,514 $ 103,674 $ 180,517
Basic earnings per unit (usd per share) $ 1.52 $ 0.76 $ 1.41 $ 2.28
Diluted earnings per unit (usd per share) $ 1.51 $ 0.76 $ 1.40 $ 2.28
Basic weighted average common units outstanding (in shares) 73,073 77,658 73,117 78,768
Diluted weighted average common units and common unit equivalents outstanding (in shares) 73,727 78,066 73,899 79,208