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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Other expense (income):        
Income tax expense (benefit) of taxable REIT subsidiary $ 0 $ 490 $ 0 $ (118)
Discontinued operations, net:        
Gain on sale of operating properties, net 16,052 0 27,462 8,605
Parent Company [Member]
       
Revenues:        
Minimum rent 90,178 84,382 266,104 261,519
Percentage rent 415 378 2,257 1,935
Recoveries from tenants and other income 25,823 24,388 80,917 79,606
Management, transaction, and other fees 5,694 6,441 19,195 20,060
Total revenues 122,110 115,589 368,473 363,120
Operating expenses:        
Depreciation and amortization 33,184 28,529 96,241 90,934
Operating and maintenance 17,040 15,808 52,222 51,012
General and administrative 15,001 15,641 47,942 45,783
Real estate taxes 13,553 12,884 41,030 41,212
Other expenses 917 1,150 3,986 3,596
Total operating expenses 79,695 74,012 241,421 232,537
Other expense (income):        
Interest expense, net of interest income of $350 and $379, and $1,101 and $1,291 for the three and nine months ended September 30, 2013 and 2012, respectively 26,750 27,462 82,363 84,796
Provision for impairment 6,000 1,147 6,000 20,155
Gains (Losses) on Extinguishment of Debt 0 852 0 852
Net investment income from deferred compensation plan, including unrealized gains of $875 and $618, and $1,724 and $1,343 for the three and nine months ended September 30, 2013 and 2012, respectively (963) (752) (1,998) (1,836)
Total other expense (31,787) (28,709) (86,365) (103,967)
Income before equity in income of investments in real estate partnerships 10,628 12,868 40,687 26,616
Equity in income of investments in real estate partnerships 13,262 5,403 25,150 19,173
Income from continuing operations before tax 23,890 18,271 65,837 45,789
Income tax expense (benefit) of taxable REIT subsidiary 0 490 0 (118)
Income from continuing operations 23,890 17,781 65,837 45,907
Discontinued operations, net:        
Operating income 666 1,811 4,196 1,350
Gain on sale of operating properties, net 16,052 0 27,462 8,605
Income from discontinued operations 16,718 1,811 31,658 9,955
Income before gain on sale of real estate 40,608 19,592 97,495 55,862
Gain on sale of real estate (56) (228) (1,773) (2,041)
Net income 40,664 19,820 99,268 57,903
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders (Deprecated 2013-01-31) 0 0 0 629
Noncontrolling interests:        
Exchangeable operating partnership units (73) (39) (183) (116)
Limited partners’ interests in consolidated partnerships (327) (212) (872) (636)
(Income) loss attributable to noncontrolling interests (400) (251) (1,055) (123)
Net income attributable to the Company 40,264 19,569 98,213 57,780
Preferred stock dividends (5,266) (7,932) (15,797) (27,265)
Net Income (Loss) attributable to Common Stockholders 34,998 11,637 82,416 30,515
Income per common share/unit - basic:        
Continuing operations (in dollars per share) $ 0.20 $ 0.11 $ 0.55 $ 0.23
Discontinued operations (in dollars per share) $ 0.18 $ 0.02 $ 0.35 $ 0.11
Net income attributable to common stockholders (in dollars per share) $ 0.38 $ 0.13 $ 0.90 $ 0.34
Income per common share/unit - diluted:        
Continuing operations (in dollars per share) $ 0.20 $ 0.11 $ 0.55 $ 0.23
Discontinued operations (in dollars per share) $ 0.18 $ 0.02 $ 0.35 $ 0.11
Net income attributable to common stockholders (in dollars per share) $ 0.38 $ 0.13 $ 0.90 $ 0.34
Partnership Interest [Member]
       
Revenues:        
Minimum rent 90,178 84,382 266,104 261,519
Percentage rent 415 378 2,257 1,935
Recoveries from tenants and other income 25,823 24,388 80,917 79,606
Management, transaction, and other fees 5,694 6,441 19,195 20,060
Total revenues 122,110 115,589 368,473 363,120
Operating expenses:        
Depreciation and amortization 33,184 28,529 96,241 90,934
Operating and maintenance 17,040 15,808 52,222 51,012
General and administrative 15,001 15,641 47,942 45,783
Real estate taxes 13,553 12,884 41,030 41,212
Other expenses 917 1,150 3,986 3,596
Total operating expenses 79,695 74,012 241,421 232,537
Other expense (income):        
Interest expense, net of interest income of $350 and $379, and $1,101 and $1,291 for the three and nine months ended September 30, 2013 and 2012, respectively 26,750 27,462 82,363 84,796
Provision for impairment 6,000 1,147 6,000 20,155
Gains (Losses) on Extinguishment of Debt 0 852 0 852
Net investment income from deferred compensation plan, including unrealized gains of $875 and $618, and $1,724 and $1,343 for the three and nine months ended September 30, 2013 and 2012, respectively (963) (752) (1,998) (1,836)
Total other expense (31,787) (28,709) (86,365) (103,967)
Income before equity in income of investments in real estate partnerships 10,628 12,868 40,687 26,616
Equity in income of investments in real estate partnerships 13,262 5,403 25,150 19,173
Income from continuing operations before tax 23,890 18,271 65,837 45,789
Income tax expense (benefit) of taxable REIT subsidiary 0 490 0 (118)
Income from continuing operations 23,890 17,781 65,837 45,907
Discontinued operations, net:        
Operating income 666 1,811 4,196 1,350
Gain on sale of operating properties, net 16,052 0 27,462 8,605
Income from discontinued operations 16,718 1,811 31,658 9,955
Income before gain on sale of real estate 40,608 19,592 97,495 55,862
Gain on sale of real estate (56) (228) (1,773) (2,041)
Net income 40,664 19,820 99,268 57,903
Noncontrolling interests:        
Limited partners’ interests in consolidated partnerships (327) (212) (872) (636)
(Income) loss attributable to noncontrolling interests (327) (212) (872) (636)
Net income attributable to the Company 40,337 19,608 98,396 57,267
Preferred unit distributions (5,266) (7,932) (15,797) (26,636)
Net income attributable to common unit holders $ 35,071 $ 11,676 $ 82,599 $ 30,631
Income per common share/unit - basic:        
Continuing operations (in dollars per share) $ 0.20 $ 0.11 $ 0.55 $ 0.23
Discontinued operations (in dollars per share) $ 0.18 $ 0.02 $ 0.35 $ 0.11
Net income attributable to common unit holders (in dollars per share) $ 0.38 $ 0.13 $ 0.90 $ 0.34
Income per common share/unit - diluted:        
Continuing operations (in dollars per share) $ 0.20 $ 0.11 $ 0.55 $ 0.23
Discontinued operations (in dollars per share) $ 0.18 $ 0.02 $ 0.35 $ 0.11
Net income attributable to common unit holders (in dollars per share) $ 0.38 $ 0.13 $ 0.90 $ 0.34