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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUE:        
Rental income $ 72,925 $ 68,221 $ 142,965 $ 135,466
Other property income 4,181 3,598 7,933 7,084
Total revenue 77,106 71,819 150,898 142,550
EXPENSES:        
Rental expenses 19,841 19,590 39,700 38,043
Real estate taxes 7,904 6,417 15,440 13,050
General and administrative 5,131 4,394 10,213 8,943
Depreciation and amortization 24,182 17,714 42,168 35,167
Total operating expenses 57,058 48,115 107,521 95,203
OPERATING INCOME 20,048 23,704 43,377 47,347
Interest expense (12,652) (13,153) (25,983) (26,099)
Other income, net 192 99 502 123
NET INCOME 7,588 10,650 17,896 21,371
Net income attributable to restricted shares (61) (43) (121) (86)
Net income attributable to unitholders in the Operating Partnership (2,008) (3,008) (4,869) (6,035)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 5,519 $ 7,599 $ 12,906 $ 15,250
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.12 $ 0.17 $ 0.28 $ 0.34
Weighted average shares of common stock outstanding-basic (in shares) 46,871,377 45,235,292 46,524,510 45,234,583
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.12 $ 0.17 $ 0.28 $ 0.34
Weighted average shares of common stock outstanding-diluted (in shares) 64,089,081 63,134,808 64,075,919 63,134,099
Dividends declared per common share (in USD per share) $ 0.26 $ 0.25 $ 0.52 $ 0.5
COMPREHENSIVE INCOME        
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period $ (518) $ (9,906) $ (1,514) $ (13,875)
Reclassification of amortization of forward-starting swap included in interest expense (330) (58) (475) (115)
Comprehensive income 6,740 686 15,907 7,381
Comprehensive income attributable to non-controlling interest (1,700) (182) (4,184) (2,068)
Comprehensive income attributable to American Assets Trust, Inc. 5,040 504 11,723 5,313
American Assets Trust, L.P.        
REVENUE:        
Rental income 72,925 68,221 142,965 135,466
Other property income 4,181 3,598 7,933 7,084
Total revenue 77,106 71,819 150,898 142,550
EXPENSES:        
Rental expenses 19,841 19,590 39,700 38,043
Real estate taxes 7,904 6,417 15,440 13,050
General and administrative 5,131 4,394 10,213 8,943
Depreciation and amortization 24,182 17,714 42,168 35,167
Total operating expenses 57,058 48,115 107,521 95,203
OPERATING INCOME 20,048 23,704 43,377 47,347
Interest expense (12,652) (13,153) (25,983) (26,099)
Other income, net 192 99 502 123
NET INCOME 7,588 10,650 17,896 21,371
Net income attributable to restricted shares (61) (43) (121) (86)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 7,527 $ 10,607 $ 17,775 $ 21,285
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.12 $ 0.17 $ 0.28 $ 0.34
Weighted average shares of common stock outstanding-basic (in shares) 64,089,081 63,134,808 64,075,919 63,134,099
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.12 $ 0.17 $ 0.28 $ 0.34
Weighted average shares of common stock outstanding-diluted (in shares) 64,089,081 63,134,808 64,075,919 63,134,099
Distributions per unit (in USD per share) $ 0.26 $ 0.25 $ 0.52 $ 0.5
COMPREHENSIVE INCOME        
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period $ (518) $ (9,906) $ (1,514) $ (13,875)
Reclassification of amortization of forward-starting swap included in interest expense (330) (58) (475) (115)
Comprehensive income 6,740 686 15,907 7,381
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1]     4,869  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (1,700) (182) (4,184) (2,068)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2]     13,027  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 5,040 $ 504 $ 11,723 $ 5,313
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.