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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUE:        
Rental income $ 71,852 $ 67,471 $ 207,318 $ 193,776
Other property income 4,124 3,818 11,208 10,317
Total revenue 75,976 71,289 218,526 204,093
EXPENSES:        
Rental expenses 20,591 18,985 58,634 52,810
Real estate taxes 7,396 6,676 20,446 18,710
General and administrative 4,513 6,357 13,456 16,161
Depreciation and amortization 17,992 15,761 53,159 46,154
Total operating expenses 50,492 47,779 145,695 133,835
OPERATING INCOME 25,484 23,510 72,831 70,258
Interest expense 13,049 11,258 39,148 34,250
Gain on sale of real estate 0 7,121 0 7,121
Other expense, net (577) (347) (454) (440)
NET INCOME 11,858 19,026 33,229 42,689
Net income attributable to restricted shares (42) (32) (128) (115)
Net income attributable to unitholders in the Operating Partnership (3,342) (5,432) (9,377) (12,277)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 8,474 $ 13,562 $ 23,724 $ 30,297
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.19 $ 0.30 $ 0.52 $ 0.69
Weighted average shares of common stock outstanding-basic (in shares) 45,377,719 44,998,281 45,282,643 44,176,007
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.19 $ 0.30 $ 0.52 $ 0.69
Weighted average shares of common stock outstanding-diluted (in shares) 63,272,702 62,897,797 63,180,637 62,076,238
Dividends declared per common share (in USD per share) $ 0.25 $ 0.2325 $ 0.75 $ 0.6975
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ 2,432 $ (908) $ (11,443) $ (1,394)
Reclassification of amortization of forward-starting swap included in interest expense (58) (57) (173) (173)
Comprehensive income 14,232 18,061 21,613 41,122
Comprehensive income attributable to non-controlling interest (4,018) (5,155) (6,086) (11,829)
Comprehensive income attributable to American Assets Trust, Inc. 10,214 12,906 15,527 29,293
American Assets Trust, L.P.        
REVENUE:        
Rental income 71,852 67,471 207,318 193,776
Other property income 4,124 3,818 11,208 10,317
Total revenue 75,976 71,289 218,526 204,093
EXPENSES:        
Rental expenses 20,591 18,985 58,634 52,810
Real estate taxes 7,396 6,676 20,446 18,710
General and administrative 4,513 6,357 13,456 16,161
Depreciation and amortization 17,992 15,761 53,159 46,154
Total operating expenses 50,492 47,779 145,695 133,835
OPERATING INCOME 25,484 23,510 72,831 70,258
Interest expense 13,049 11,258 39,148 34,250
Gain on sale of real estate 0 7,121 0 7,121
Other expense, net (577) (347) (454) (440)
NET INCOME 11,858 19,026 33,229 42,689
Net income attributable to restricted shares (42) (32) (128) (115)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 11,816 $ 18,994 $ 33,101 $ 42,574
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.19 $ 0.30 $ 0.52 $ 0.69
Weighted average shares of common stock outstanding-basic (in shares) 63,272,702 62,897,797 63,180,637 62,076,238
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.19 $ 0.30 $ 0.52 $ 0.69
Weighted average shares of common stock outstanding-diluted (in shares) 63,272,702 62,897,797 63,180,637 62,076,238
Distributions per unit (in USD per share) $ 0.25 $ 0.2325 $ 0.75 $ 0.6975
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized gain (loss) on swap derivative during the period $ 2,432 $ (908) $ (11,443) $ (1,394)
Reclassification of amortization of forward-starting swap included in interest expense (58) (57) (173) (173)
Comprehensive income 14,232 18,061 21,613 41,122
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1]     9,377  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (4,018) (5,155) (6,086) (11,829)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2]     23,852  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 10,214 $ 12,906 $ 15,527 $ 29,293
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.