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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - 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        
Income from office and parking properties $ 114,252 $ 102,208 $ 231,167 $ 197,504
Management company income 2,821 5,446 5,586 11,429
Sale of condominium units 9,832 2,805 9,836 5,639
Total revenues 126,905 110,459 246,589 214,572
Expenses        
Property operating expenses 43,580 40,487 88,574 77,641
Management company expenses 2,571 7,356 5,291 12,006
Cost of sales – condominium units 9,889 2,319 10,091 4,338
Depreciation and amortization 47,056 44,981 96,192 85,261
Impairment loss on real estate 4,400 0 5,400 0
General and administrative 7,747 7,757 16,631 17,169
Acquisition costs 196 489 667 1,134
Total expenses 115,439 103,389 222,846 197,549
Operating income 11,466 7,070 23,743 17,023
Other income and expenses        
Interest and other income 312 463 482 832
Equity in earnings (losses) of unconsolidated joint ventures 422 (557) 584 (1,035)
Net gains on sale of real estate 45,246 0 59,562 6,289
Loss on extinguishment of debt (4,919) 0 (4,840) 0
Interest expense (17,676) (17,132) (36,874) (32,377)
Income (loss) before income taxes 34,851 (10,156) 42,657 (9,268)
Income tax expense (326) (257) (518) (599)
Income (loss) from continuing operations 34,525 (10,413) 42,139 (9,867)
Discontinued operations:        
Loss from discontinued operations 0 (50) 0 (93)
Net gains on sale of real estate from discontinued operations 0 0 0 10,463
Total discontinued operations 0 (50) 0 10,370
Net income (loss) 34,525 (10,463) 42,139 503
Net (income) loss attributable to noncontrolling interests – unit holders (607) 571 (955) 7
Net (income) loss attributable to noncontrolling interests – real estate partnerships (19,786) 47 (19,777) 490
Net income (loss) for Parkway Properties, Inc. and attributable to common stockholders 14,132 (9,845) 21,407 1,000
Net income (loss) 34,525 (10,463) 42,139 503
Other comprehensive income (loss) 3,635 (4,030) 412 (4,151)
Comprehensive income (loss) 38,160 (14,493) 42,551 (3,648)
Comprehensive (income) loss attributable to noncontrolling interests (21,444) 618 (21,613) 423
Comprehensive income (loss) attributable to common stockholders $ 16,716 $ (13,875) $ 20,938 $ (3,225)
Basic:        
Income (loss) from continuing operations attributable to Parkway Properties, Inc. (in dollars per share) $ 0.13 $ (0.10) $ 0.19 $ (0.09)
Discontinued operations (in dollars per share) 0.00 0.00 0.00 0.10
Basic net income (loss) attributable to Parkway Properties, Inc. (in dollars per share) 0.13 (0.10) 0.19 0.01
Diluted:        
Income (loss) from continuing operations attributable to Parkway Properties, Inc. (in dollars per share) 0.13 (0.10) 0.19 (0.09)
Discontinued operations (in dollars per share) 0.00 0.00 0.00 0.10
Diluted net income (loss) attributable to Parkway Properties, Inc. (in dollars per share) $ 0.13 $ (0.10) $ 0.19 $ 0.01
Weighted average shares outstanding:        
Basic (in shares) 111,543 99,092 111,381 98,219
Diluted (in shares) 116,666 99,092 116,638 103,619
Amounts attributable to Parkway Properties, Inc. common stockholders:        
Income (loss) from continuing operations attributable to Parkway Properties, Inc. $ 14,132 $ (9,798) $ 21,407 $ (8,854)
Discontinued operations 0 (47) 0 9,854
Net income (loss) attributable to common stockholders $ 14,132 $ (9,845) $ 21,407 $ 1,000