XML 54 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Rental revenue $ 92,210   $ 182,414  
Tenant expense reimbursement 14,304   29,457  
Observatory revenue 30,389   47,690  
Construction revenue 12,963   27,926  
Third-party management and other fees 753   1,364  
Other revenue and fees 4,549   6,623  
Total revenues 155,168 59,569 295,474 121,989
Operating expenses:        
Property operating expenses 35,596   71,907  
Marketing, general, and administrative expenses 12,189   20,864  
Observatory expenses 7,120   14,101  
Construction expenses 12,795   27,078  
Real estate taxes 18,186   36,559  
Formation transaction expenses 0   0  
Depreciation and amortization 28,637   58,752  
Total operating expenses 114,523   229,261  
Total operating income 40,645   66,213  
Other income (expense):        
Equity in net income of non-controlled entities 0 7,898 0 7,898
Interest expense (14,629)   (28,966)  
Business Combination, Acquisition Related Costs (735) 0 (735) 0
Net income 25,281 3,071 36,512 5,001
Net income attributable to the predecessor 0   0  
Net income attributable to non-controlling interests (15,447)   (22,309)  
Net income attributable to Empire State Realty Trust, Inc. 9,834   14,203  
Total weighted average shares:        
Basic 95,573   95,574  
Diluted 95,615   95,616  
Net income per share attributable to Empire State Realty Trust, Inc.:        
Basic $ 0.10   $ 0.15  
Diluted $ 0.10   $ 0.15  
Dividends per share $ 0.085   $ 0.17  
Predecessor [Member]
       
Revenues:        
Rental revenue   43,639   88,905
Tenant expense reimbursement   7,045   13,634
Observatory revenue   0   0
Construction revenue   6,218   12,400
Third-party management and other fees   1,526   4,183
Other revenue and fees   1,141   2,867
Total revenues   59,569   121,989
Operating expenses:        
Property operating expenses   12,152   25,958
Marketing, general, and administrative expenses   6,849   13,174
Observatory expenses   0   0
Construction expenses   6,529   12,789
Real estate taxes   7,916   15,787
Formation transaction expenses   1,305   3,000
Depreciation and amortization   13,111   25,267
Total operating expenses   47,862   95,975
Total operating income   11,707   26,014
Other income (expense):        
Equity in net income of non-controlled entities   6,079   7,898
Interest expense   (14,715)   (28,911)
Net income   3,071   5,001
Net income attributable to the predecessor   (3,071)   (5,001)
Net income attributable to non-controlling interests   0   0
Net income attributable to Empire State Realty Trust, Inc.   $ 0   $ 0