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Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUE      
Rental Income $ 1,073,292 $ 948,842 $ 832,171
Mortgage interest income 1,086 2,382 3,323
Total revenue 1,074,378 951,224 835,494
EXPENSES      
Rental expenses 228,958 198,121 170,920
Real estate taxes 127,824 118,496 119,242
General and administrative 52,636 49,856 41,680
Depreciation and amortization 302,409 279,976 255,027
Total operating expenses 711,827 646,449 586,869
Impairment charge 0 0 (57,218)
Gain on deconsolidation of VIE 70,374 0 0
Gain on sale of real estate and change in control of interest, net of tax 93,483 89,950 98,117
OPERATING INCOME 526,408 394,725 289,524
OTHER INCOME/(EXPENSE)      
Other interest income 1,072 809 1,894
Interest expense (136,989) (127,698) (136,289)
Early extinguishment of debt 0 0 (11,179)
Income (loss) from partnerships 5,170 1,245 (8,062)
NET INCOME 395,661 269,081 135,888
Net income attributable to noncontrolling interests (10,170) (7,583) (4,182)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 385,491 261,498 131,706
Dividends on preferred shares (8,034) (8,042) (8,042)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 377,457 $ 253,456 $ 123,664
EARNINGS PER COMMON SHARE, BASIC      
Net income available for common shareholders $ 4.71 $ 3.26 $ 1.62
Weighted average number of common shares 79,854 77,336 75,515
EARNINGS PER COMMON SHARE, DILUTED      
Net income available for common shareholders $ 4.71 $ 3.26 $ 1.62
Weighted average number of common shares 80,508 77,368 75,515
COMPREHENSIVE INCOME      
NET INCOME $ 395,661 $ 269,081 $ 135,888
Other comprehensive income (loss) - change in value of interest rate swaps 8,569 3,917 (5,302)
COMPREHENSIVE INCOME 404,230 272,998 130,586
Comprehensive income attributable to noncontrolling interests (10,935) (7,903) (3,711)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 393,295 265,095 126,875
Federal Realty OP LP      
REVENUE      
Rental Income 1,073,292 948,842 832,171
Mortgage interest income 1,086 2,382 3,323
Total revenue 1,074,378 951,224 835,494
EXPENSES      
Rental expenses 228,958 198,121 170,920
Real estate taxes 127,824 118,496 119,242
General and administrative 52,636 49,856 41,680
Depreciation and amortization 302,409 279,976 255,027
Total operating expenses 711,827 646,449 586,869
Impairment charge 0 0 (57,218)
Gain on deconsolidation of VIE 70,374 0 0
Gain on sale of real estate and change in control of interest, net of tax 93,483 89,950 98,117
OPERATING INCOME 526,408 394,725 289,524
OTHER INCOME/(EXPENSE)      
Other interest income 1,072 809 1,894
Interest expense (136,989) (127,698) (136,289)
Early extinguishment of debt 0 0 (11,179)
Income (loss) from partnerships 5,170 1,245 (8,062)
NET INCOME 395,661 269,081 135,888
Net income attributable to noncontrolling interests (10,170) (7,583) (4,182)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 385,491 261,498 131,706
Distributions declared to preferred unit holders (8,034) (8,042) (8,042)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 377,457 $ 253,456 $ 123,664
EARNINGS PER COMMON UNIT, BASIC      
Net income available for common unit holders, basic $ 4.71 $ 3.26 $ 1.62
Weighted average common units outstanding, basic 79,854 77,336 75,515
EARNINGS PER COMMON UNIT, DILUTED      
Net income available for common unit holders, diluted $ 4.71 $ 3.26 $ 1.62
Weighted average common units outstanding, diluted 80,508 77,368 75,515
COMPREHENSIVE INCOME      
NET INCOME $ 395,661 $ 269,081 $ 135,888
Other comprehensive income (loss) - change in value of interest rate swaps 8,569 3,917 (5,302)
COMPREHENSIVE INCOME 404,230 272,998 130,586
Comprehensive income attributable to noncontrolling interests (10,935) (7,903) (3,711)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 393,295 $ 265,095 $ 126,875