XML 45 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:                              
Rental revenue                         $ 586,414    
Rental revenue                           $ 493,231 $ 483,944
Tenant expense reimbursement                         0 72,372 73,679
Observatory revenue                         128,769 131,227 127,118
Lease termination fees                         4,352 20,847 13,551
Third-party management and other fees                         1,254 1,440 1,400
Other revenue and fees                         10,554 12,394 9,834
Total revenues $ 194,933 $ 192,873 $ 176,244 $ 167,293 $ 199,309 $ 186,402 $ 178,529 $ 167,271 $ 182,297 $ 186,547 $ 176,349 $ 164,333 731,343 731,511 709,526
Operating expenses:                              
Property operating expenses                         174,977 167,379 163,531
Ground rent expenses                         9,326 9,326 9,326
General and administrative expenses                         61,063 52,674 50,315
Observatory expenses                         33,767 32,767 30,275
Real estate taxes                         115,916 110,000 102,466
Depreciation and amortization                         181,588 168,508 160,710
Total operating expenses                         576,637 540,654 516,623
Total operating income 47,112 45,279 36,239 26,076 58,490 48,538 49,665 34,164 50,191 56,008 50,659 36,045 154,706 190,857 192,903
Other income (expense):                              
Interest income                         11,259 10,661 2,942
Interest expense                         (79,246) (79,623) (68,473)
Loss on early extinguishment of debt                         0 0 (2,157)
Loss from derivative financial instruments                         0 0 (289)
Income before income taxes                         86,719 121,895 124,926
Income tax expense                         (2,429) (4,642) (6,673)
Net income $ 28,720 $ 26,784 $ 18,930 $ 9,856 $ 39,781 $ 29,230 $ 30,184 $ 18,058 $ 32,260 $ 35,489 $ 31,359 $ 19,145 84,290 117,253 118,253
Private perpetual preferred unit distributions                         (1,743) (936) (936)
Net income attributable to non-controlling interests                         (33,102) (50,714) (54,670)
Net income attributable to common stockholders                         $ 49,445 $ 65,603 $ 62,647
Total weighted average shares:                              
Basic (in shares)                         178,340 167,571 158,380
Diluted (in shares)                         297,798 297,259 298,049
Earnings per share attributable to common stockholders:                              
Basic (USD per share)                         $ 0.28 $ 0.39 $ 0.40
Diluted (USD per share)                         $ 0.28 $ 0.39 $ 0.39