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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUE:        
Rental income $ 78,135 $ 71,852 $ 221,100 $ 207,318
Other property income 4,204 4,124 12,137 11,208
Total revenue 82,339 75,976 233,237 218,526
EXPENSES:        
Rental expenses 21,177 20,591 60,877 58,634
Real estate taxes 8,535 7,396 23,975 20,446
General and administrative 4,958 4,513 15,171 13,456
Depreciation and amortization 21,192 17,992 63,360 53,159
Total operating expenses 55,862 50,492 163,383 145,695
OPERATING INCOME 26,477 25,484 69,854 72,831
Interest expense (13,873) (13,049) (39,856) (39,148)
Other (expense) income, net (99) (577) 403 (454)
NET INCOME 12,505 11,858 30,401 33,229
Net income attributable to restricted shares (60) (42) (181) (128)
Net income attributable to unitholders in the Operating Partnership (3,351) (3,342) (8,220) (9,377)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 9,094 $ 8,474 $ 22,000 $ 23,724
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.19 $ 0.19 $ 0.47 $ 0.52
Weighted average shares of common stock outstanding-basic (in shares) 46,898,086 45,377,719 46,650,403 45,282,643
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.19 $ 0.19 $ 0.47 $ 0.52
Weighted average shares of common stock outstanding-diluted (in shares) 64,093,066 63,272,702 64,081,697 63,180,637
Dividends declared per common share (in USD per share) $ 0.26 $ 0.25 $ 0.78 $ 0.75
COMPREHENSIVE INCOME        
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period $ 87 $ 2,432 $ (1,427) $ (11,443)
Reclassification of amortization of forward-starting swap included in interest expense (319) (58) (794) (173)
Comprehensive income 12,273 14,232 28,180 21,613
Comprehensive income attributable to non-controlling interest (3,263) (4,018) (7,447) (6,086)
Comprehensive income attributable to American Assets Trust, Inc. 9,010 10,214 20,733 15,527
American Assets Trust, L.P.        
REVENUE:        
Rental income 78,135 71,852 221,100 207,318
Other property income 4,204 4,124 12,137 11,208
Total revenue 82,339 75,976 233,237 218,526
EXPENSES:        
Rental expenses 21,177 20,591 60,877 58,634
Real estate taxes 8,535 7,396 23,975 20,446
General and administrative 4,958 4,513 15,171 13,456
Depreciation and amortization 21,192 17,992 63,360 53,159
Total operating expenses 55,862 50,492 163,383 145,695
OPERATING INCOME 26,477 25,484 69,854 72,831
Interest expense (13,873) (13,049) (39,856) (39,148)
Other (expense) income, net (99) (577) 403 (454)
NET INCOME 12,505 11,858 30,401 33,229
Net income attributable to restricted shares (60) (42) (181) (128)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 12,445 $ 11,816 $ 30,220 $ 33,101
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.19 $ 0.19 $ 0.47 $ 0.52
Weighted average shares of common stock outstanding-basic (in shares) 64,093,066 63,272,702 64,081,697 63,180,637
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.19 $ 0.19 $ 0.47 $ 0.52
Weighted average shares of common stock outstanding-diluted (in shares) 64,093,066 63,272,702 64,081,697 63,180,637
Distributions per unit (in USD per share) $ 0.26 $ 0.25 $ 0.78 $ 0.75
COMPREHENSIVE INCOME        
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period $ 87 $ 2,432 $ (1,427) $ (11,443)
Reclassification of amortization of forward-starting swap included in interest expense (319) (58) (794) (173)
Comprehensive income 12,273 14,232 28,180 21,613
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1]     8,220  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (3,263) (4,018) (7,447) (6,086)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2]     22,181  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 9,010 $ 10,214 $ 20,733 $ 15,527
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.