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Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss) - 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 income $ 92,646 $ 106,017 $ 187,101 $ 215,991
Tenant recovery income 25,183 29,524 53,273 60,310
Other property income 1,335 1,798 3,632 4,731
Total revenues 119,164 137,339 244,006 281,032
Expenses        
Operating expenses 19,384 21,004 39,639 42,868
Real estate taxes 17,701 21,487 38,169 43,366
Depreciation and amortization 43,710 52,325 88,938 105,799
Provision for impairment of investment properties 724 13,034 1,316 13,034
General and administrative expenses 10,274 10,370 22,769 21,583
Total expenses 91,793 118,220 190,831 226,650
Operating income 27,371 19,119 53,175 54,382
Interest expense (16,817) (21,435) (35,582) (106,967)
Other income, net 328 451 550 456
Income (loss) from continuing operations 10,882 (1,865) 18,143 (52,129)
Gain on sales of investment properties 0 116,628 34,519 157,792
Net income 10,882 114,763 52,662 105,663
Preferred stock dividends 0 (2,363) 0 (4,725)
Net income attributable to common shareholders $ 10,882 $ 112,400 $ 52,662 $ 100,938
Earnings per common share – basic and diluted        
Net income per common share attributable to common shareholders $ 0.05 $ 0.48 $ 0.24 $ 0.43
Net income $ 10,882 $ 114,763 $ 52,662 $ 105,663
Other comprehensive income (loss):        
Net unrealized gain (loss) on derivative instruments (Note 9) 859 (145) 3,613 487
Comprehensive income attributable to the Company $ 11,741 $ 114,618 $ 56,275 $ 106,150
Weighted average number of common shares outstanding – basic 218,982 234,243 218,915 235,269
Weighted average number of common shares outstanding – diluted 219,410 234,818 219,406 235,842