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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES:        
Minimum rents $ 169,081 $ 166,704 $ 340,765 $ 332,436
Percentage rents 2,078 2,138 5,854 6,078
Other rents 4,583 4,546 9,591 9,085
Tenant reimbursements 77,179 75,430 154,164 154,006
Management, development and leasing fees 1,568 1,601 2,905 3,307
Other Revenues 8,597 7,234 17,957 14,471
Total revenues 263,086 257,653 531,236 519,383
EXPENSES:        
Property operating 36,054 36,472 76,250 74,192
Depreciation and amortization 72,111 68,772 140,092 139,221
Real estate taxes 25,401 24,502 49,681 49,120
Maintenance and repairs 14,067 13,191 30,099 28,633
General and administrative 11,241 10,321 23,041 21,395
Loss on impairment of real estate 4,457 0 4,457 0
Other Expenses 7,046 6,415 15,349 13,116
Total operating expenses 170,377 159,673 338,969 325,677
Income from operations 92,709 97,980 192,267 193,706
Interest and other income 612 948 1,157 1,999
Interest expense (70,915) (72,494) (139,128) (144,874)
Gain on extinguishment of debt 0 0 581 0
Gain (loss) on sales of real estate assets (62) 1,149 747 2,015
Equity in earnings of unconsolidated affiliates 1,455 409 3,233 948
Income tax benefit 4,653 1,911 6,423 3,788
Income (loss) from continuing operations 28,452 29,903 65,280 57,582
Operating income (loss) of discontinued operations 977 (25,386) 28,043 (25,862)
Gain (loss) on discontinued operations 103 0 117 0
Net income (loss) 29,532 4,517 93,440 31,720
Net income attributable to noncontrolling interests in:        
Operating partnership (2,752) 2,723 (13,203) (1,387)
Other consolidated subsidiaries (6,404) (6,124) (12,542) (12,261)
Net income (loss) attributable to the Company 20,376 1,116 67,695 18,072
Preferred dividends (10,594) (8,358) (21,188) (14,386)
Net income (loss) attributable to common shareholders 9,782 (7,242) 46,507 3,686
Basic per share data attributable to common shareholders:        
Income (loss) from continuing operations, net of preferred dividends $ 0.06 $ 0.08 $ 0.17 $ 0.16
Discontinued operations $ 0.01 $ (0.13) $ 0.14 $ (0.13)
Net income (loss) attributable to common shareholders $ 0.07 $ (0.05) $ 0.31 $ 0.03
Weighted average common shares outstanding 148,356 138,068 148,214 138,018
Diluted earnings per share data attributable to common shareholders:        
Income (loss) from continuing operations, net of preferred dividends $ 0.06 $ 0.08 $ 0.17 $ 0.16
Discontinued operations $ 0.01 $ (0.13) $ 0.14 $ (0.13)
Net income (loss) attributable to common shareholders $ 0.07 $ (0.05) $ 0.31 $ 0.03
Weighted average common and potential dilutive common shares outstanding 148,398 138,112 148,262 138,059
Amounts attributable to common shareholders:        
Income (loss) from continuing operations, net of preferred dividends 8,941 11,203 24,574 22,475
Discontinued operations 841 (18,445) 21,933 (18,789)
Net income (loss) attributable to common shareholders $ 9,782 $ (7,242) $ 46,507 $ 3,686
Dividends declared per common share $ 0.21 $ 0.20 $ 0.42 $ 0.40