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Consolidated Statements of Operations (Partnership) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Rental revenue, net $ 150,632 $ 185,945 $ 292,136 $ 380,987
SUMMIT Operator revenue 32,602 28,180 58,206 47,951
Investment income 6,191 9,103 13,594 18,160
Other income 33,395 22,808 46,766 44,702
Total revenues 222,820 246,036 410,702 491,800
Expenses        
Operating expenses 46,333 46,957 89,941 99,021
Real estate taxes 32,058 39,885 63,664 81,268
Operating lease rent 6,368 6,655 12,773 12,956
SUMMIT Operator expenses 23,188 22,836 45,046 43,524
Interest expense, net of interest income 35,803 40,621 66,976 82,274
Amortization of deferred financing costs 1,677 2,154 3,216 4,175
SUMMIT Operator tax expense 1,855 1,879 560 3,146
Depreciation and amortization 52,247 69,335 100,831 148,117
Loan loss and other investment reserves, net of recoveries 0 0 0 6,890
Transaction related costs 76 33 92 917
Marketing, general and administrative 20,032 22,974 41,345 46,259
Total expenses 219,637 253,329 424,444 528,547
Equity in net income (loss) from unconsolidated joint ventures 4,325 (21,932) 115,485 (29,344)
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (8,129) 0 18,635 (79)
Purchase price and other fair value adjustments 1,265 (17,409) (49,227) (17,170)
Loss on sale of real estate, net (2,741) (26,678) (2,741) (28,329)
Depreciable real estate reserves and impairment (13,721) (305,916) (65,839) (305,916)
Gain on early extinguishment of debt 17,777 0 17,777 0
Net income (loss) 1,959 (379,228) 20,348 (417,585)
Net loss attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships 1,871 1,040 3,165 2,665
Preferred units distributions (2,406) (1,851) (4,309) (3,449)
Net income (loss) attributable to SL Green 1,577 (356,457) 18,456 (392,450)
Perpetual preferred stock dividends (3,737) (3,737) (7,475) (7,475)
SL Green Operating Partnership        
Revenues        
Rental revenue, net 150,632 185,945 292,136 380,987
SUMMIT Operator revenue 32,602 28,180 58,206 47,951
Investment income 6,191 9,103 13,594 18,160
Other income 33,395 22,808 46,766 44,702
Total revenues 222,820 246,036 410,702 491,800
Expenses        
Operating expenses 46,333 46,957 89,941 99,021
Real estate taxes 32,058 39,885 63,664 81,268
Operating lease rent 6,368 6,655 12,773 12,956
SUMMIT Operator expenses 23,188 22,836 45,046 43,524
Interest expense, net of interest income 35,803 40,621 66,976 82,274
Amortization of deferred financing costs 1,677 2,154 3,216 4,175
SUMMIT Operator tax expense 1,855 1,879 560 3,146
Depreciation and amortization 52,247 69,335 100,831 148,117
Loan loss and other investment reserves, net of recoveries 0 0 0 6,890
Transaction related costs 76 33 92 917
Marketing, general and administrative 20,032 22,974 41,345 46,259
Total expenses 219,637 253,329 424,444 528,547
Equity in net income (loss) from unconsolidated joint ventures 4,325 (21,932) 115,485 (29,344)
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (8,129) 0 18,635 (79)
Purchase price and other fair value adjustments 1,265 (17,409) (49,227) (17,170)
Loss on sale of real estate, net (2,741) (26,678) (2,741) (28,329)
Depreciable real estate reserves and impairment (13,721) (305,916) (65,839) (305,916)
Gain on early extinguishment of debt 17,777 0 17,777 0
Net income (loss) 1,959 (379,228) 20,348 (417,585)
Net loss attributable to noncontrolling interests:        
Noncontrolling interests in other partnerships 1,871 1,040 3,165 2,665
Preferred units distributions (2,406) (1,851) (4,309) (3,449)
Net income (loss) attributable to SL Green   (380,039) 19,204 (418,369)
Perpetual preferred stock dividends (3,737) (3,737) (7,475) (7,475)
Net (loss) income attributable to SLGOP common unitholders $ (2,313) $ (383,776) $ 11,729 $ (425,844)
Basic earnings (loss) per unit (in dollars per share) $ (0.04) $ (5.63) $ 0.16 $ (6.25)
Diluted earnings (loss) per unit (in dollars per share) $ (0.04) $ (5.63) $ 0.16 $ (6.25)
Basic weighted average common units outstanding (in shares) 68,740 68,341 68,753 68,263
Diluted weighted average common units and common unit equivalents outstanding (in shares) 68,740 68,341 70,137 68,263