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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Rental income $ 35,186 $ 39,784 $ 73,776 $ 77,971
Interest income 7,415 3,985 12,053 7,393
Expense reimbursements 7,769 7,825 15,728 17,891
Other 963 1,567 2,459 2,387
Total revenues 51,333 53,161 104,016 105,642
Operating Expenses        
Property operating 5,105 6,196 10,642 13,927
Other operating 538 599 829 2,719
Real estate taxes 5,640 6,419 11,805 12,711
General and administrative 8,521 8,005 17,873 15,537
Depreciation and amortization 14,678 13,903 31,527 27,561
Impairment of asset 0 5,000 0 5,000
Total operating expenses 34,482 40,122 72,676 77,455
Operating income 16,851 13,039 31,340 28,187
Equity in earnings of unconsolidated affiliates 1,740 3,406 3,694 9,999
Gain on disposition of property of unconsolidated affiliates 0 17,105 0 17,105
Loss on debt extinguishment (15) (25) (15) (134)
Gain on disposition of properties 16,572 61,841 81,965 88,984
Interest and other finance expense (8,882) (9,964) (16,920) (18,785)
Income before income tax (provision) benefit 26,266 85,402 100,064 125,356
Income tax (provision) benefit (111) 56 (34) (1,361)
Net income 26,155 85,458 100,030 123,995
Net income attributable to noncontrolling interests (8,237) (58,963) (53,187) (80,953)
Net income attributable to Common Shareholders $ 17,918 $ 26,495 $ 46,843 $ 43,042
Basic and diluted earnings per share (in dollars per share) $ 0.24 $ 0.38 $ 0.64 $ 0.62