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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Rental income $ 35,710 $ 40,722 $ 109,486 $ 118,693
Interest income 7,245 5,728 19,298 13,121
Expense reimbursements 7,192 8,020 22,920 25,911
Other 953 2,382 3,412 4,769
Total revenues 51,100 56,852 155,116 162,494
Operating Expenses        
Property operating 5,055 6,304 15,697 20,231
Other operating 3,265 396 4,094 3,115
Real estate taxes 6,195 6,153 18,000 18,864
General and administrative 12,869 7,603 30,742 23,140
Depreciation and amortization 15,217 17,461 46,744 45,022
Impairment of asset 0 0 0 5,000
Total operating expenses 42,601 37,917 115,277 115,372
Operating income 8,499 18,935 39,839 47,122
Equity in (losses) earnings of unconsolidated affiliates (102) 2,195 3,592 12,194
Gain on disposition of property of unconsolidated affiliates 0 6,938 0 24,043
Loss on debt extinguishment 0 0 (15) (134)
Gain on disposition of properties 0 79 81,965 89,063
Interest and other finance expense (7,982) (9,345) (24,902) (28,130)
Income before income tax provision 415 18,802 100,479 144,158
Income tax provision (89) (698) (123) (2,059)
Net income 326 18,104 100,356 142,099
Net loss (income) attributable to noncontrolling interests 5,786 (4,328) (47,401) (85,281)
Net income attributable to Common Shareholders $ 6,112 $ 13,776 $ 52,955 $ 56,818
Basic and diluted earnings per share (in dollars per share) $ 0.08 $ 0.20 $ 0.71 $ 0.82