XML 46 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Rental revenue $ 112,866 $ 92,210 $ 222,924 $ 182,414
Tenant expense reimbursement 18,582 14,304 36,782 29,457
Observatory revenue 30,600 30,389 48,823 47,690
Construction revenue 374 12,963 1,981 27,926
Third-party management and other fees 594 753 1,040 1,364
Other revenue and fees 1,757 4,549 5,105 6,623
Total revenues 164,773 155,168 316,655 295,474
Operating expenses:        
Property operating expenses 37,935 35,149 80,387 71,009
Ground rent expenses 2,332 447 4,663 898
Marketing, general, and administrative expenses 9,113 9,560 18,213 19,715
Observatory expenses 7,420 7,120 14,397 14,101
Construction expenses 353 12,795 3,222 27,078
Real estate taxes 22,952 18,186 45,930 36,559
Acquisition expenses 0 735 0 735
Depreciation and amortization 39,629 28,637 81,047 58,752
Total operating expenses 119,734 112,629 247,859 228,847
Total operating income 45,039 42,539 68,796 66,627
Other income (expense):        
Interest expense (17,571) (14,629) (33,618) (28,966)
Income before income taxes 27,468 27,910 35,178 37,661
Income tax expense (883) (2,629) (705) (1,149)
Net income 26,585 25,281 34,473 36,512
Private perpetual preferred unit distributions (234) 0 (468) 0
Net income attributable to non-controlling interests (15,231) (15,447) (19,747) (22,309)
Net income attributable to common stockholders $ 11,120 $ 9,834 $ 14,258 $ 14,203
Total weighted average shares:        
Basic (in shares) 112,852 95,466 111,136 95,466
Diluted (in shares) 265,867 244,436 265,866 244,431
Earnings per share attributable to common stockholders:        
Basic (USD per share) $ 0.10 $ 0.10 $ 0.13 $ 0.15
Diluted (USD pre share) 0.10 0.10 0.13 0.15
Dividends per share $ 0.085 $ 0.085 $ 0.17 $ 0.17