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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Rental and related revenue $ 253,971 $ 226,374 $ 512,150 $ 445,129
General contractor and service fee revenue 17,721 12,137 48,834 19,751
Revenues, total 271,692 238,511 560,984 464,880
Expenses:        
Rental expenses 18,515 17,557 46,645 36,400
Real estate taxes 41,368 36,763 82,538 73,490
General contractor and other services expenses 14,066 10,406 43,529 16,974
Depreciation and amortization 91,729 86,704 185,302 172,063
Costs and expenses, total 165,678 151,430 358,014 298,927
Other operating activities:        
Equity in earnings of unconsolidated joint ventures 10,590 2,396 26,858 4,935
Gain on sale of properties 95,183 0 116,543 8,937
Gain on land sales 9,900 6,070 11,138 6,205
Other operating expenses (338) (1,546) (1,483) (2,658)
Impairment charges 0 0 0 (5,626)
Non-incremental costs related to successful leases (4,027) (4,034) (6,985) (6,559)
General and administrative expenses (15,879) (13,606) (40,096) (35,369)
Other Operating Activities, Net 95,429 (10,720) 105,975 (30,135)
Operating income 201,443 76,361 308,945 135,818
Other income (expenses):        
Interest and other income, net 1,673 216 2,136 1,611
Interest expense (21,072) (22,841) (43,579) (46,335)
Loss on debt extinguishment (3,938) (14,972) (4,008) (32,778)
Gain on involuntary conversion 3,222 1,283 3,222 1,283
Income from continuing operations before income taxes 181,328 40,047 266,716 59,599
Income tax (expense) benefit (3,672) 150 (8,856) 210
Income from continuing operations 177,656 40,197 257,860 59,809
Discontinued operations:        
Gain on sale of properties 0 23 0 71
Income from discontinued operations 0 23 0 71
Net income 177,656 40,220 257,860 59,880
Net income attributable to noncontrolling interests (1,839) (400) (2,681) (604)
Net income attributable to common shareholders $ 175,817 $ 39,820 $ 255,179 $ 59,276
Basic net income per common share/unit:        
Continuing operations attributable to common shareholders/unitholders $ 0.47 $ 0.11 $ 0.68 $ 0.16
Diluted net income per common share/unit:        
Continuing operations attributable to common shareholders/unitholders $ 0.47 $ 0.11 $ 0.68 $ 0.16
Weighted average number of common shares/units outstanding 376,020 368,836 374,850 368,513
Weighted average number of common shares/units and potential dilutive securities 381,621 372,573 380,334 372,197
Comprehensive income:        
Net income $ 177,656 $ 40,220 $ 257,860 $ 59,880
Amortization of interest rate swap contracts 890 889 1,779 1,690
Comprehensive income 178,546 41,109 259,639 61,570
Duke Realty Limited Partnership [Member]        
Revenues:        
Rental and related revenue 253,971 226,374 512,150 445,129
General contractor and service fee revenue 17,721 12,137 48,834 19,751
Revenues, total 271,692 238,511 560,984 464,880
Expenses:        
Rental expenses 18,515 17,557 46,645 36,400
Real estate taxes 41,368 36,763 82,538 73,490
General contractor and other services expenses 14,066 10,406 43,529 16,974
Depreciation and amortization 91,729 86,704 185,302 172,063
Costs and expenses, total 165,678 151,430 358,014 298,927
Other operating activities:        
Equity in earnings of unconsolidated joint ventures 10,590 2,396 26,858 4,935
Gain on sale of properties 95,183 0 116,543 8,937
Gain on land sales 9,900 6,070 11,138 6,205
Other operating expenses (338) (1,546) (1,483) (2,658)
Impairment charges 0 0 0 (5,626)
Non-incremental costs related to successful leases (4,027) (4,034) (6,985) (6,559)
General and administrative expenses (15,879) (13,606) (40,096) (35,369)
Other Operating Activities, Net 95,429 (10,720) 105,975 (30,135)
Operating income 201,443 76,361 308,945 135,818
Other income (expenses):        
Interest and other income, net 1,673 216 2,136 1,611
Interest expense (21,072) (22,841) (43,579) (46,335)
Loss on debt extinguishment (3,938) (14,972) (4,008) (32,778)
Gain on involuntary conversion 3,222 1,283 3,222 1,283
Income from continuing operations before income taxes 181,328 40,047 266,716 59,599
Income tax (expense) benefit (3,672) 150 (8,856) 210
Income from continuing operations 177,656 40,197 257,860 59,809
Discontinued operations:        
Gain on sale of properties 0 23 0 71
Income from discontinued operations 0 23 0 71
Net income 177,656 40,220 257,860 59,880
Net income attributable to noncontrolling interests (101) (44) (182) (78)
Net income attributable to common shareholders $ 177,555 $ 40,176 $ 257,678 $ 59,802
Basic net income per common share/unit:        
Continuing operations attributable to common shareholders/unitholders $ 0.47 $ 0.11 $ 0.68 $ 0.16
Diluted net income per common share/unit:        
Continuing operations attributable to common shareholders/unitholders $ 0.47 $ 0.11 $ 0.68 $ 0.16
Weighted average number of common shares/units outstanding 379,790 372,167 378,523 371,790
Weighted average number of common shares/units and potential dilutive securities 381,621 372,573 380,334 372,197
Comprehensive income:        
Net income $ 177,656 $ 40,220 $ 257,860 $ 59,880
Amortization of interest rate swap contracts 890 889 1,779 1,690
Comprehensive income $ 178,546 $ 41,109 $ 259,639 $ 61,570