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Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUE        
Rental income $ 286,323 $ 273,179 $ 839,509 $ 793,516
Mortgage interest income 281 272 833 805
Total revenue 286,604 273,451 840,342 794,321
EXPENSES        
Rental expenses 58,595 58,809 169,410 166,189
Real estate taxes 33,045 32,803 97,992 94,628
General and administrative 13,149 13,100 37,607 39,046
Depreciation and amortization 81,731 77,109 239,342 223,244
Total operating expenses 186,520 181,821 544,351 523,107
Gain on deconsolidation of VIE 0 70,374 0 70,374
Gain on sale of real estate 0 29,723 1,702 29,723
OPERATING INCOME 100,084 191,727 297,693 371,311
OTHER INCOME/(EXPENSE)        
Other interest income 721 234 3,775 487
Interest expense (42,726) (35,060) (124,835) (98,707)
Income from partnerships 1,313 1,873 3,494 4,878
NET INCOME 59,392 158,774 180,127 277,969
Net income attributable to noncontrolling interests (2,344) (2,636) (7,245) (8,171)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 57,048 156,138 172,882 269,798
Dividends on preferred shares (2,008) (2,008) (6,024) (6,026)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 55,040 $ 154,130 $ 166,858 $ 263,772
EARNINGS PER COMMON SHARE, BASIC:        
Net income available for common shareholders $ 0.67 $ 1.90 $ 2.04 $ 3.31
Weighted average number of common shares 81,274 80,765 81,210 79,480
EARNINGS PER COMMON SHARE, DILUTED:        
Net income available for common shareholders $ 0.67 $ 1.89 $ 2.04 $ 3.31
Weighted average number of common shares 81,274 81,511 81,210 80,137
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 60,787 $ 161,569 $ 181,248 $ 286,902
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 58,325 158,672 173,898 277,929
Federal Realty OP LP        
REVENUE        
Rental income 286,323 273,179 839,509 793,516
Mortgage interest income 281 272 833 805
Total revenue 286,604 273,451 840,342 794,321
EXPENSES        
Rental expenses 58,595 58,809 169,410 166,189
Real estate taxes 33,045 32,803 97,992 94,628
General and administrative 13,149 13,100 37,607 39,046
Depreciation and amortization 81,731 77,109 239,342 223,244
Total operating expenses 186,520 181,821 544,351 523,107
Gain on deconsolidation of VIE 0 70,374 0 70,374
Gain on sale of real estate 0 29,723 1,702 29,723
OPERATING INCOME 100,084 191,727 297,693 371,311
OTHER INCOME/(EXPENSE)        
Other interest income 721 234 3,775 487
Interest expense (42,726) (35,060) (124,835) (98,707)
Income from partnerships 1,313 1,873 3,494 4,878
NET INCOME 59,392 158,774 180,127 277,969
Net income attributable to noncontrolling interests (2,344) (2,636) (7,245) (8,171)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 57,048 156,138 172,882 269,798
Distributions declared to preferred unit holders (2,008) (2,008) (6,024) (6,026)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 55,040 $ 154,130 $ 166,858 $ 263,772
EARNINGS PER COMMON UNIT, BASIC:        
Net income available for common unit holders $ 0.67 $ 1.90 $ 2.04 $ 3.31
Weighted average common units outstanding 81,274 80,765 81,210 79,480
EARNINGS PER COMMON UNIT, DILUTED:        
Net income available for common unit holders $ 0.67 $ 1.89 $ 2.04 $ 3.31
Weighted average common units outstanding 81,274 81,511 81,210 80,137
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 60,787 $ 161,569 $ 181,248 $ 286,902
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 58,325 $ 158,672 $ 173,898 $ 277,929