XML 13 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues:    
Rental income $ 43,549 $ 80,205
Tenant reimbursements and other income 15,039 19,346
Total revenues 58,588 99,551
Expenses:    
Operating expenses 24,599 41,087
Depreciation and amortization 13,903 26,915
General and administrative 13,339 12,078
Loss on asset impairment 12,087 1,286
Total expenses 63,928 81,366
Operating (loss) income (5,340) 18,185
Interest and other income, net 5,780 4,372
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $801 and $713, respectively) (10,115) (15,014)
Loss on early extinguishment of debt (4,867) 0
Gain on sale of properties, net 205,211 16,454
Income before income taxes 190,669 23,997
Income tax expense (3,007) (175)
Net income 187,662 23,822
Net income attributable to noncontrolling interest (63) (8)
Net income attributable to Equity Commonwealth 187,599 23,814
Preferred distributions (1,997) (1,997)
Net income attributable to Equity Commonwealth common shareholders $ 185,602 $ 21,817
Weighted average common shares outstanding — basic (in shares) 123,867 124,047
Weighted average common shares outstanding — diluted (in shares) 127,097 125,150
Earnings per common share attributable to Equity Commonwealth common shareholders:    
Basic (in dollars per share) $ 1.50 $ 0.18
Diluted (in dollars per share) $ 1.48 $ 0.17
Distributed Earnings $ 0 $ 1,997