XML 15 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES    
Base rents$ 149,700$ 150,064$ 448,775$ 452,449
Escalations and recoveries from tenants21,60126,42073,21178,376
Construction services2,35916,4758,98449,694
Real estate services1,3542,0143,7375,660
Other income2,1412,9839,8859,145
Total revenues177,155197,956544,592595,324
EXPENSES    
Real estate taxes14,50324,91363,93472,986
Utilities20,14420,83157,13657,066
Operating services28,01427,34587,47884,099
Direct construction costs2,29015,8848,65647,588
General and administrative8,6838,99226,53826,064
Depreciation and amortization48,49847,978144,914143,942
Total expenses122,132145,943388,656431,745
Operating income55,02352,013155,936163,579
OTHER (EXPENSE) INCOME    
Interest expense(31,489)(36,941)(94,191)(113,347)
Interest and other investment income10343073
Equity in earnings (loss) of unconsolidated joint ventures5394751,174213
Total other (expense) income(30,940)(36,432)(92,987)(113,061)
Income from continuing operations24,08315,58162,94950,518
Discontinued operations:    
Income (loss) from discontinued operations   242
Realized gains (losses) and unrealized losses on disposition of rental property, net   4,447
Total discontinued operations, net   4,689
Net income24,08315,58162,94955,207
Noncontrolling interest in consolidated joint ventures96108308281
Noncontrolling interest in Operating Partnership(3,015)(2,150)(8,031)(7,047)
Noncontrolling interest in discontinued operations   (668)
Preferred stock dividends(664)(500)(1,664)(1,500)
Net income available to common shareholders$ 20,500$ 13,039$ 53,562$ 46,273
Basic earnings per common share:    
Income from continuing operations$ 0.24$ 0.16$ 0.63$ 0.53
Discontinued operations   $ 0.05
Net income available to common shareholders$ 0.24$ 0.16$ 0.63$ 0.58
Diluted earnings per common share:    
Income from continuing operations$ 0.24$ 0.16$ 0.62$ 0.53
Discontinued operations   $ 0.05
Net income available to common shareholders$ 0.24$ 0.16$ 0.62$ 0.58
Basic weighted average shares outstanding87,01979,30485,64979,161
Diluted weighted average shares outstanding99,91792,46498,63192,467