XML 15 R5.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ (19,141) $ 21,432 $ (41,768) $ 23,603
Other comprehensive income (loss):        
Interest rate caps and swaps [1] 2,748 8,465 (2,582) 23,542
Reclassification of the Company's share of previously deferred derivative gains to net income [2] 0 0 0 (6,723)
Other comprehensive income (loss) 2,748 8,465 (2,582) 16,819
Comprehensive income (loss) (16,393) 29,897 (44,350) 40,422
Comprehensive (income) loss attributable to noncontrolling interests (2) 132 (120) 83
Comprehensive income (loss) attributable to common stockholders $ (16,395) $ 30,029 $ (44,470) $ 40,505
[1] Amounts are shown net of tax expense of $0.8 million for the three months ended June 30, 2023, tax benefit of $0.8 million for the six months ended June 30, 2023, and tax expense of $2.5 million for the three months ended June 30, 2022, and $7.0 million for the six months ended June 30, 2022.
[2] In March 2022, the Company completed the sale of its ownership interest in 110 North Wacker and released a net of $6.7 million from Accumulated other comprehensive income (loss), representing the Company’s $8.6 million share of previously deferred gains associated with the Venture’s derivative instruments net of tax expense of $1.9 million. See Note 2 - Investments in Unconsolidated Ventures for additional information.