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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Lease revenues $ 27,508 $ 35,149 $ 54,900 $ 73,463
Income from finance leases 0 0 0 89
Other lease-related income 1,666 3,880 3,487 9,484
Revenues 29,174 39,029 58,387 83,036
Operating Expenses        
Impairment charges — real estate 81,817 8,222 82,737 12,287
Depreciation and amortization 9,687 15,122 19,412 33,092
Reimbursable tenant costs 6,537 7,189 12,677 13,389
Property expenses, excluding reimbursable tenant costs 2,244 2,652 4,699 4,903
General and administrative 2,144 1,880 3,951 3,781
Asset management fees 1,209 1,599 2,469 3,403
Other expenses 0 0 0 16
Total operating expenses 103,638 36,664 125,945 70,871
Other Income and Expenses        
Interest expense (4,400) (27,798) (10,146) (48,598)
(Loss) gain on sale of real estate, net (3,251) 37,723 (4,259) 21,947
Other gains and (losses) 697 332 1,140 (489)
Total other income and expenses (6,954) 10,257 (13,265) (27,140)
(Loss) income before income taxes (81,418) 12,622 (80,823) (14,975)
Provision for income taxes (100) (149) (182) (373)
Net (Loss) Income (81,518) 12,473 (81,005) (15,348)
Net income attributable to noncontrolling interests (22) (22) (43) (43)
Net (Loss) Income Attributable to NLOP $ (81,540) $ 12,451 $ (81,048) $ (15,391)
Basic (Loss) Earnings Per Share (per share) $ (5.50) $ 0.84 $ (5.47) $ (1.04)
Diluted (Loss) Earnings Per Share (per share) $ (5.50) $ 0.84 $ (5.47) $ (1.04)
Weighted-Average Shares Outstanding        
Basic (in shares) 14,814,075 14,785,118 14,814,075 14,785,118
Diluted (in shares) 14,814,075 14,807,960 14,814,075 14,785,118