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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Rental income $ 40,722 $ 36,587 $ 118,693 $ 106,517
Interest income 5,728 3,006 13,121 9,219
Expense reimbursements 8,020 7,386 25,911 24,008
Other 2,382 681 4,769 4,112
Total revenues 56,852 47,660 162,494 143,856
Operating Expenses        
Property operating 6,304 5,170 20,231 18,031
Other operating 396 1,588 3,115 3,183
Real estate taxes 6,153 5,666 18,864 16,905
General and administrative 7,603 7,123 23,140 20,898
Depreciation and amortization 17,461 12,884 45,022 36,055
Impairment of asset 0 0 5,000 0
Total operating expenses 37,917 32,431 115,372 95,072
Operating income 18,935 15,229 47,122 48,784
Equity in earnings of unconsolidated affiliates 2,195 2,923 12,194 7,382
Gain on disposition of property of unconsolidated affiliates 6,938 102,855 24,043 102,855
Loss on debt extinguishment 0 0 (134) (269)
Gain on disposition of properties 79 190 89,063 13,138
Interest and other finance expense (9,345) (10,142) (28,130) (30,327)
Income from continuing operations before income tax (provision) benefit 18,802 111,055 144,158 141,563
Income tax (provision) benefit (698) 17 (2,059) (68)
Income from continuing operations 18,104 111,072 142,099 141,495
Discontinued Operations        
Gain on disposition of property 0 0 0 560
Income from discontinued operations 0 0 0 560
Net income 18,104 111,072 142,099 142,055
Continuing operations (4,328) (82,508) (85,281) (79,971)
Discontinued operations 0 0 0 (461)
Net income attributable to noncontrolling interests (4,328) (82,508) (85,281) (80,432)
Net income attributable to Common Shareholders $ 13,776 $ 28,564 $ 56,818 $ 61,623
Basic and diluted earnings per share $ 0.20 $ 0.47 $ 0.82 $ 1.04