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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUE:        
Rental income $ 68,221 $ 63,552 $ 135,466 $ 126,305
Other property income 3,598 3,217 7,084 6,499
Total revenue 71,819 66,769 142,550 132,804
EXPENSES:        
Rental expenses 19,590 17,205 38,043 33,825
Real estate taxes 6,417 5,986 13,050 12,034
General and administrative 4,394 4,788 8,943 9,804
Depreciation and amortization 17,714 15,286 35,167 30,393
Total operating expenses 48,115 43,265 95,203 86,056
OPERATING INCOME 23,704 23,504 47,347 46,748
Interest expense 13,153 11,197 26,099 22,992
Other income (expense), net 99 (23) 123 (93)
NET INCOME 10,650 12,284 21,371 23,663
Net income attributable to restricted shares (43) (40) (86) (83)
Net income attributable to unitholders in the Operating Partnership (3,008) (3,536) (6,035) (6,845)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 7,599 $ 8,708 $ 15,250 $ 16,735
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.17 $ 0.20 $ 0.34 $ 0.38
Weighted average shares of common stock outstanding-basic (in shares) 45,235,292 44,092,631 45,234,583 43,758,055
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.17 $ 0.20 $ 0.34 $ 0.38
Weighted average shares of common stock outstanding-diluted (in shares) 63,134,808 61,992,147 63,134,099 61,658,650
Dividends declared per common share (in USD per share) $ 0.25 $ 0.2325 $ 0.5 $ 0.465
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ (9,906) $ 457 $ (13,875) $ (486)
Reclassification of amortization of forward-starting swap included in interest expense (58) (58) (115) (116)
Comprehensive income 686 12,683 7,381 23,061
Comprehensive income attributable to non-controlling interest (182) (3,656) (2,068) (6,674)
Comprehensive income attributable to American Assets Trust, Inc. 504 9,027 5,313 16,387
American Assets Trust, L.P.        
REVENUE:        
Rental income 68,221 63,552 135,466 126,305
Other property income 3,598 3,217 7,084 6,499
Total revenue 71,819 66,769 142,550 132,804
EXPENSES:        
Rental expenses 19,590 17,205 38,043 33,825
Real estate taxes 6,417 5,986 13,050 12,034
General and administrative 4,394 4,788 8,943 9,804
Depreciation and amortization 17,714 15,286 35,167 30,393
Total operating expenses 48,115 43,265 95,203 86,056
OPERATING INCOME 23,704 23,504 47,347 46,748
Interest expense 13,153 11,197 26,099 22,992
Other income (expense), net 99 (23) 123 (93)
NET INCOME 10,650 12,284 21,371 23,663
Net income attributable to restricted shares (43) (40) (86) (83)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 10,607 $ 12,244 $ 21,285 $ 23,580
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.17 $ 0.20 $ 0.34 $ 0.38
Weighted average shares of common stock outstanding-basic (in shares) 63,134,808 61,992,147 63,134,099 61,658,650
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.17 $ 0.20 $ 0.34 $ 0.38
Weighted average shares of common stock outstanding-diluted (in shares) 63,134,808 61,992,147 63,134,099 61,658,650
Distributions per unit (in USD per share) $ 0.25 $ 0.2325 $ 0.5 $ 0.465
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ (9,906) $ 457 $ (13,875) $ (486)
Reclassification of amortization of forward-starting swap included in interest expense (58) (58) (115) (116)
Comprehensive income 686 12,683 7,381 23,061
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1]     6,035  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (182) (3,656) (2,068) (6,674)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2]     15,336  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 504 $ 9,027 $ 5,313 $ 16,387
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.