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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE:        
Rental income $ 67,471 $ 63,593 $ 193,776 $ 182,868
Other property income 3,818 3,750 10,317 10,654
Total revenue 71,289 67,343 204,093 193,522
EXPENSES:        
Rental expenses 18,985 17,374 52,810 50,494
Real estate taxes 6,676 5,899 18,710 17,054
General and administrative 6,357 4,682 16,161 13,929
Depreciation and amortization 15,761 16,352 46,154 50,902
Total operating expenses 47,779 44,307 133,835 132,379
OPERATING INCOME 23,510 23,036 70,258 61,143
Interest expense 11,258 13,325 34,250 40,396
Gain on sale of real estate 7,121 0 7,121 0
Other income (expense), net (347) (621) (440) 352
NET INCOME 19,026 9,090 42,689 21,099
Net income attributable to restricted shares (32) (95) (115) (259)
Net income attributable to unitholders in the Operating Partnership (5,432) (2,578) (12,277) (6,108)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 13,562 $ 6,417 $ 30,297 $ 14,732
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.30 $ 0.15 $ 0.69 $ 0.35
Weighted average shares of common stock outstanding-basic (in shares) 44,998,281 42,539,019 44,176,007 41,653,229
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.30 $ 0.15 $ 0.69 $ 0.35
Weighted average shares of common stock outstanding-diluted (in shares) 62,897,797 60,444,276 62,076,238 59,559,944
Dividends declared per common share (in USD per share) $ 0.2325 $ 0.22 $ 0.6975 $ 0.66
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ (908) $ 2,439 $ (1,394) $ 882
Reclassification of amortization of forward-starting swap included in interest expense (57) 0 (173) 0
Comprehensive income 18,061 11,529 41,122 21,981
Comprehensive income attributable to non-controlling interest (5,155) (3,300) (11,829) (6,366)
Comprehensive income attributable to American Assets Trust, Inc. 12,906 8,229 29,293 15,615
American Assets Trust, L.P.        
REVENUE:        
Rental income 67,471 63,593 193,776 182,868
Other property income 3,818 3,750 10,317 10,654
Total revenue 71,289 67,343 204,093 193,522
EXPENSES:        
Rental expenses 18,985 17,374 52,810 50,494
Real estate taxes 6,676 5,899 18,710 17,054
General and administrative 6,357 4,682 16,161 13,929
Depreciation and amortization 15,761 16,352 46,154 50,902
Total operating expenses 47,779 44,307 133,835 132,379
OPERATING INCOME 23,510 23,036 70,258 61,143
Interest expense 11,258 13,325 34,250 40,396
Gain on sale of real estate 7,121 0 7,121 0
Other income (expense), net (347) (621) (440) 352
NET INCOME 19,026 9,090 42,689 21,099
Net income attributable to restricted shares (32) (95) (115) (259)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 18,994 $ 8,995 $ 42,574 $ 20,840
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.30 $ 0.15 $ 0.69 $ 0.35
Weighted average shares of common stock outstanding-basic (in shares) 62,897,797 60,444,276 62,076,238 59,559,944
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.30 $ 0.15 $ 0.69 $ 0.35
Weighted average shares of common stock outstanding-diluted (in shares) 62,897,797 60,444,276 62,076,238 59,559,944
Distributions per unit (in USD per share) $ 0.2325 $ 0.22 $ 0.6975 $ 0.66
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ (908) $ 2,439 $ (1,394) $ 882
Reclassification of amortization of forward-starting swap included in interest expense (57) 0 (173) 0
Comprehensive income 18,061 11,529 41,122 21,981
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME     12,274  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (5,155) (3,300) (11,829) (6,366)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME     30,415  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 12,906 $ 8,229 $ 29,293 $ 15,615