Business Combinations (Tables)

12 Months Ended

Dec. 31, 2014

The following table summarizes the transaction related to the business combination, including the assets acquired and liabilities assumed as indicated (in thousands):



	December 23, 2013
Fair value of our equity interest before business combination	$	90,935
Fair value of consideration transferred	$	3,342		⁽¹⁾
Amounts recognized for assets and liabilities assumed:
Assets:
Property	$	64,211
Unamortized debt and lease costs	9,213
Accrued rent and accounts receivable	2,868
Cash and cash equivalents	754
Other, net	15,840
Liabilities:
Accounts payable and accrued expenses	(166		)
Other, net	(1,452		)
Total net assets	$	91,268		⁽²⁾

Gain recognized on equity interest remeasured to fair value	$	20,234		⁽³⁾

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(1)	Consideration included $2.8 million of cash and a future obligation of $.5 million.


(2)	Excludes the effect of $54.8 million in intercompany debt that is eliminated upon consolidation.


(3)	Amount is included in Gain on Sale and Acquisition of Real Estate Joint Venture and Partnership Interests in our Consolidated Statement of Operations.

Schedule of Impact to Revenues and Earnings

The following table summarizes the impact to revenues and net income attributable to common shareholders from our business combination as follows (in thousands):



	Year Ended December 31, 2013
Increase in revenues	$	197
Increase in net income attributable to common shareholders	—

Pro Forma Impact Of Business Combination

The following table summarizes the supplemental pro forma data, as follows (in thousands, except per share amounts):



	Pro Forma 2013⁽¹⁾		Pro Forma 2012⁽¹⁾
Revenues	$	498,331	$	468,656
Net income	244,918		152,016
Net income attributable to common shareholders	163,907		108,805
Earnings per share – basic	1.35		0.90
Earnings per share – diluted	1.34		0.89

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(1)	There are no non-recurring pro forma adjustments included within or excluded from the amounts in the preceding table.