Equity Investment in Select Income REIT (Tables) - SIR

9 Months Ended

Sep. 30, 2018

Schedule Of Summarized Balance Sheet Information Of Equity Method Investee

Condensed Consolidated Balance Sheets

	September 30,		December 31,
	2018		2017
Real estate properties, net	$	3,926,606	$	3,905,616
Acquired real estate leases, net	433,947		477,577
Properties held for sale	15,289		5,829
Cash and cash equivalents	25,982		658,719
Rents receivable, net	131,642		127,672
Other assets, net	188,033		127,617
Total assets	$	4,721,499	$	5,303,030
Unsecured revolving credit facility	$	108,000	$	—
Industrial Logistics Properties Trust revolving credit facility	380,000		750,000
Unsecured term loan, net	—		348,870
Senior unsecured notes, net	1,430,688		1,777,425
Mortgage notes payable, net	210,624		210,785
Assumed real estate lease obligations, net	62,176		68,783
Other liabilities	150,371		155,348
Total shareholders' equity attributable to SIR	2,061,556		1,991,819
Noncontrolling interest in consolidated subsidiary	318,084		—
Total liabilities and shareholders' equity	$	4,721,499	$	5,303,030

Schedule Of Summarized Income Statement Information Of Equity Method Investee

Condensed Consolidated Statements of Income

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Rental income	$	101,833		$	98,635		$	298,003		$	293,020
Tenant reimbursements and other income	20,048			19,379			60,514			57,158
Total revenues	121,881			118,014			358,517			350,178
Real estate taxes	12,518			11,489			36,748			33,168
Other operating expenses	14,814			14,649			43,714			41,039
Depreciation and amortization	35,371			34,713			105,326			102,770
Acquisition and transaction related costs	3,796			—			3,796			—
General and administrative	15,331			1,608			47,353			24,697
Write-off of straight line rents, net	—			—			10,626			12,517
Loss on asset impairment	—			—			—			4,047
Loss on impairment of real estate assets	9,706			—			9,706			229
Total expenses	91,536			62,459			257,269			218,467
Operating income	30,345			55,555			101,248			131,711
Dividend income	397			397			1,190			1,190
Unrealized gain on equity securities	22,771			—			53,159			—
Interest income	133			19			753			39
Interest expense	(23,287		)	(24,383		)	(69,446		)	(68,278		)
Loss on early extinguishment of debt	—			—			(1,192		)	—
Income before income tax expense, equity in earnings of an investee
and gain on of real estate	30,359			31,588			85,712			64,662
Income tax expense	(185		)	(177		)	(446		)	(364		)
Equity in earnings of an investee	831			31			882			533
Net income before gain on sale of real estate	31,005			31,442			86,148			64,831
Gain on sale of real estate	4,075			—			4,075			—
Net income	35,080			31,442			90,223			64,831
Net income allocated to noncontrolling interest	(5,597		)	—			(15,841		)	—
Net income attributed to SIR	$	29,483		$	31,442		$	74,382		$	64,831
Weighted average common shares outstanding (basic)	89,410			89,355			89,395			89,341
Weighted average common shares outstanding (diluted)	89,437			89,379			89,411			89,364
Net income attributed to SIR per common share (basic and diluted)	$	0.33		$	0.35		$	0.83		$	0.73