XML 48 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Schedule of ownership of properties that are primarily leased to government tenants and our equity method investment in SIR
We operate in two separate reportable business segments: direct ownership of real estate properties and our equity method investment in SIR:
 
 Year Ended December 31, 2017
 
Investment
in Real Estate
 
Investment
in SIR
 
Corporate
 
Consolidated
Rental income
$
316,532

 
$

 
$

 
$
316,532

Expenses:
 
 
 
 
 
 
 
Real estate taxes
37,942

 

 

 
37,942

Utility expenses
20,998

 

 

 
20,998

Other operating expenses
65,349

 

 

 
65,349

Depreciation and amortization
109,588

 

 

 
109,588

Loss on impairment of real estate
9,490

 

 

 
9,490

General and administrative

 

 
18,847

 
18,847

Total expenses
243,367

 

 
18,847

 
262,214

 
 
 
 
 
 
 
 
Operating income (loss)
73,165

 

 
(18,847
)
 
54,318

Dividend income

 

 
1,216

 
1,216

Interest income
196

 

 
1,766

 
1,962

Interest expense
(3,209
)
 

 
(62,197
)
 
(65,406
)
Loss on early extinguishment of debt

 

 
(1,715
)
 
(1,715
)
Gain on issuance of shares by Select Income REIT

 
72

 

 
72

Income (loss) from continuing operations before income taxes,
 
 
 
 
 
 
 
equity in earnings (losses) of investees and gain on sale of real estate
70,152

 
72

 
(79,777
)
 
(9,553
)
Income tax expense

 

 
(101
)
 
(101
)
Equity in earnings (losses) of investees
(621
)
 
21,584

 
608

 
21,571

Income (loss) from continuing operations
69,531

 
21,656

 
(79,270
)
 
11,917

Income from discontinued operations
173

 

 

 
173

Net income (loss)
69,704

 
21,656

 
(79,270
)
 
12,090

Preferred units of limited partnership distributions

 

 
(275
)
 
(275
)
Net income (loss) available for common shareholders
$
69,704

 
$
21,656

 
$
(79,545
)
 
$
11,815

 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
Investment
in Real Estate
 
Investment
in SIR
 
Corporate
 
Consolidated
Total Assets
$
3,138,764

 
$
467,499

 
$
97,302

 
$
3,703,565

 
 Year Ended December 31, 2016
 
Investment
in Real Estate
 
Investment
in SIR
 
Corporate
 
Consolidated
Rental income 
$
258,180

 
$

 
$

 
$
258,180

 
 
 
 
 
 
 
 
Expenses:
 

 
 

 
 

 
 

Real estate taxes
30,703

 

 

 
30,703

Utility expenses
17,269

 

 

 
17,269

Other operating expenses
54,290

 

 

 
54,290

Depreciation and amortization
73,153

 

 

 
73,153

Acquisition related costs
1,191

 

 

 
1,191

General and administrative

 

 
14,897

 
14,897

Total expenses
176,606

 

 
14,897

 
191,503

 
 
 
 
 
 
 
 
Operating income (loss)
81,574

 

 
(14,897
)
 
66,677

Dividend income

 

 
971

 
971

Interest income
124

 

 
34

 
158

Interest expense
(2,375
)
 

 
(42,685
)
 
(45,060
)
Gain on early extinguishment of debt
104

 

 

 
104

Net gain on issuance of shares by Select Income REIT

 
86

 

 
86

Income (loss) from continuing operations before income taxes,
 

 
 

 
 

 
 

equity in earnings (losses) of investees and gain on sale of real estate
79,427

 
86

 
(56,577
)
 
22,936

Income tax expense

 

 
(101
)
 
(101
)
Equity in earnings of investees

 
35,381

 
137

 
35,518

Income (loss) from continuing operations
79,427

 
35,467

 
(56,541
)
 
58,353

Loss from discontinued operations
(589
)
 

 

 
(589
)
Income (loss) before gain on sale of real estate
78,838

 
35,467

 
(56,541
)
 
57,764

Gain on sale of real estate
79

 

 

 
79

Net income (loss)
78,917

 
35,467

 
(56,541
)
 
57,843

Preferred units of limited partnership distributions

 

 

 

Net income (loss) available for common shareholders
$
78,917

 
$
35,467

 
$
(56,541
)
 
$
57,843

 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
Investment
in Real Estate
 
Investment
in SIR
 
Corporate
 
Consolidated
Total Assets
$
1,807,560

 
$
487,708

 
$
89,798

 
$
2,385,066



 
 
Year Ended December 31, 2015
 
 
Investment
in Real Estate
 
Investment
in SIR
 
Corporate
 
Consolidated
Rental income 
 
$
248,549

 
$

 
$

 
$
248,549

 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
Real estate taxes
 
29,906

 

 

 
29,906

Utility expenses
 
17,916

 

 

 
17,916

Other operating expenses
 
50,425

 

 

 
50,425

Depreciation and amortization
 
68,696

 

 

 
68,696

Acquisition related costs
 
561

 

 
250

 
811

General and administrative
 

 

 
14,826

 
14,826

Total expenses
 
167,504

 

 
15,076

 
182,580

 
 
 
 
 
 
 
 
 
Operating income (loss)
 
81,045

 

 
(15,076
)
 
65,969

Dividend income
 

 

 
811

 
811

Interest income
 
10

 

 
4

 
14

Interest expense
 
(7,908
)
 

 
(29,100
)
 
(37,008
)
Gain on early extinguishment of debt
 
34

 

 

 
34

Loss on distribution to common shareholders of The RMR Group Inc. common stock
 
 
 
 
 
(12,368
)
 
(12,368
)
Net loss on issuance of shares by Select Income REIT
 

 
(42,145
)
 

 
(42,145
)
Loss on impairment of Select Income REIT investment
 

 
(203,297
)
 

 
(203,297
)
Income (loss) from continuing operations before income taxes,
 
 
 
 
 
 
 
 
equity in earnings (losses) of investees and gain on sale of real estate
 
73,181

 
(245,442
)
 
(55,729
)
 
(227,990
)
Income tax expense
 

 

 
(86
)
 
(86
)
Equity in earnings of investees
 

 
18,620

 
20

 
18,640

Income (loss) from continuing operations
 
73,181

 
(226,822
)
 
(55,795
)
 
(209,436
)
Loss from discontinued operations
 
(525
)
 

 

 
(525
)
Net income (loss)
 
72,656

 
(226,822
)
 
(55,795
)
 
(209,961
)
Preferred units of limited partnership distributions
 

 

 

 

Net income (loss) available for common shareholders
 
$
72,656

 
$
(226,822
)
 
$
(55,795
)
 
$
(209,961
)
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
Investment
in Real Estate
 
Investment
in SIR
 
Corporate
 
Consolidated
Total Assets
 
$
1,639,462

 
$
491,369

 
$
37,679

 
$
2,168,510