XML 17 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
REVENUE:    
Rental income $ 67,245 $ 62,753
Other property income 3,486 3,282
Total revenue 70,731 66,035
EXPENSES:    
Rental expenses 18,453 16,620
Real estate taxes 6,633 6,048
General and administrative 4,549 5,016
Depreciation and amortization 17,453 15,107
Total operating expenses 47,088 42,791
OPERATING INCOME 23,643 23,244
Interest expense 12,946 11,795
Other income (expense), net 24 (70)
NET INCOME 10,721 11,379
Net income attributable to restricted shares (43) (43)
Net income attributable to unitholders in the Operating Partnership (3,027) (3,309)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 7,651 $ 8,027
EARNINGS PER COMMON SHARE    
Earnings per common share, basic (in USD per share) $ 0.17 $ 0.18
Weighted average shares of common stock outstanding-basic (in shares) 45,233,873 43,419,762
EARNINGS PER COMMON SHARE, DILUTED    
Earnings per common share, diluted (in USD per share) $ 0.17 $ 0.18
Weighted average shares of common stock outstanding-diluted (in shares) 63,133,389 61,321,447
Dividends declared per common share (in USD per share) $ 0.25 $ 0.2325
COMPREHENSIVE INCOME    
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ (3,969) $ (943)
Reclassification of amortization of forward-starting swap included in interest expense (57) (58)
Comprehensive income 6,695 10,378
Comprehensive income attributable to non-controlling interest (1,886) (3,018)
Comprehensive income attributable to American Assets Trust, Inc. 4,809 7,360
American Assets Trust, L.P.    
REVENUE:    
Rental income 67,245 62,753
Other property income 3,486 3,282
Total revenue 70,731 66,035
EXPENSES:    
Rental expenses 18,453 16,620
Real estate taxes 6,633 6,048
General and administrative 4,549 5,016
Depreciation and amortization 17,453 15,107
Total operating expenses 47,088 42,791
OPERATING INCOME 23,643 23,244
Interest expense 12,946 11,795
Other income (expense), net 24 (70)
NET INCOME 10,721 11,379
Net income attributable to restricted shares (43) (43)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 10,678 $ 11,336
EARNINGS PER COMMON SHARE    
Earnings per common share, basic (in USD per share) $ 0.17 $ 0.18
Weighted average shares of common stock outstanding-basic (in shares) 63,133,389 61,321,447
EARNINGS PER COMMON SHARE, DILUTED    
Earnings per common share, diluted (in USD per share) $ 0.17 $ 0.18
Weighted average shares of common stock outstanding-diluted (in shares) 63,133,389 61,321,447
Distributions per unit (in USD per share) $ 0.25 $ 0.2325
COMPREHENSIVE INCOME    
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ (3,969) $ (943)
Reclassification of amortization of forward-starting swap included in interest expense (57) (58)
Comprehensive income 6,695 10,378
Limited Partner | American Assets Trust, L.P.    
EXPENSES:    
NET INCOME [1] 3,027  
COMPREHENSIVE INCOME    
Comprehensive income attributable to American Assets Trust, Inc. (1,886) (3,018)
General Partner | American Assets Trust, L.P.    
EXPENSES:    
NET INCOME [2] 7,694  
COMPREHENSIVE INCOME    
Comprehensive income attributable to American Assets Trust, Inc. $ 4,809 $ 7,360
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general and limited partnership interests held by American Assets Trust, Inc.