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Quarterly Financial Information (unaudited)
12 Months Ended
Dec. 31, 2011
Quarterly Financial Information (unaudited) [Abstract]  
Quarterly Financial Information (unaudited)

19. Quarterly Financial Information (unaudited)

The following table summarizes our quarterly financial information. The first, second and third fiscal quarters of 2011 and all fiscal quarters in 2010 have been revised in accordance with guidance on accounting for discontinued operations. The results of operations for the fourth quarter of 2010 include $2,387 which should have been recorded as part of the impairment charge recorded during the third quarter in 2010. Management evaluated this impairment charge and believes it is not material to the results of operations of either quarter.

 

Net loss available to unitholders and basic and diluted EPU from net loss available to unitholders has not been affected.

 

                                 
    Year Ended December 31, 2011  
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 

Total Revenues

  $ 70,318     $ 69,754     $ 68,856     $ 70,766  

Equity in Income of Joint Ventures

    36       99       772       73  

Equity in Income of Other Real Estate Partnerships

    4,855       2,852       1,878       2,306  

Loss from Continuing Operations, Net of Income Tax

    (5,982     (3,541     (11,476     (8,404

Income from Discontinued Operations, Net of Income Tax

    1,581       3,453       6,047       8,442  

Gain on Sale of Real Estate, Net of Income Tax

    —         —         918       —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Net (Loss) Income

    (4,401     (88     (4,511     38  

Preferred Unit Distributions

    (4,927     (4,947     (4,928     (4,763
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss Available to Unitholders

  $ (9,328   $ (5,035   $ (9,439   $ (4,725
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic and Diluted Earnings Per Unit:

                               

Loss From Continuing Operations Available to Unitholders

  $ (0.14   $ (0.10   $ (0.17   $ (0.14
   

 

 

   

 

 

   

 

 

   

 

 

 

Income From Discontinued Operations

  $ 0.02     $ 0.04     $ 0.07     $ 0.09  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss Available to Unitholders

  $ (0.12   $ (0.06   $ (0.10   $ (0.05
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted Average Units Outstanding—Basic and Diluted

    76,002       85,029       91,196       91,200  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

                                 
    Year Ended December 31, 2010  
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 

Total Revenues

  $ 72,562     $ 70,909     $ 68,990     $ 70,542  

Equity in (Loss) Income of Joint Ventures

    (459     582       (398     950  

Equity in Income (Loss) of Other Real Estate Partnerships

    2,833       3,049       (4,144     1,756  

Loss from Continuing Operations, Net of Income Tax

    (24,019     (19,106     (89,981     (23,473

Income (Loss) from Discontinued Operations, Net of Income Tax

    4,485       4,006       (72,213     (1,723

Gain (Loss) on Sale of Real Estate, Net of Income Tax

    731       —         (214     —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss

    (18,803     (15,100     (162,408     (25,196

Preferred Unit Distributions

    (4,960     (4,979     (4,884     (4,854
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss Available to Unitholders

  $ (23,763   $ (20,079   $ (167,292   $ (30,050
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic and Diluted Earnings Per Unit:

                               

Loss From Continuing Operations Available to Unitholders

  $ (0.42   $ (0.35   $ (1.39   $ (0.41
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (Loss) From Discontinued Operations

  $ 0.07     $ 0.06     $ (1.05   $ (0.02
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss Available to Unitholders

  $ (0.35   $ (0.29   $ (2.44   $ (0.43
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted Average Units Outstanding—Basic and Diluted

    67,187       68,214       68,466       69,413