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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUE:        
Rental income $ 76,892 $ 72,925 $ 153,093 $ 142,965
Other property income 8,131 4,181 12,662 7,933
Total revenue 85,023 77,106 165,755 150,898
EXPENSES:        
Rental expenses 20,882 19,841 41,302 39,700
Real estate taxes 8,628 7,904 17,174 15,440
General and administrative 5,396 5,131 10,963 10,213
Depreciation and amortization 32,868 24,182 66,147 42,168
Total operating expenses 67,774 57,058 135,586 107,521
OPERATING INCOME 17,249 20,048 30,169 43,377
Interest expense (12,688) (12,652) (26,508) (25,983)
Other (expense) income, net (148) 192 61 502
NET INCOME 4,413 7,588 3,722 17,896
Net income attributable to restricted shares (216) (61) (144) (121)
Net income attributable to unitholders in the Operating Partnership (1,125) (2,008) (959) (4,869)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 3,072 $ 5,519 $ 2,619 $ 12,906
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.07 $ 0.12 $ 0.06 $ 0.28
Weighted average shares of common stock outstanding-basic (in shares) 46,939,449 46,871,377 46,937,645 46,524,510
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.07 $ 0.12 $ 0.06 $ 0.28
Weighted average shares of common stock outstanding-diluted (in shares) 64,132,520 64,089,081 64,131,665 64,075,919
Dividends declared per common share (in USD per share) $ 0.27 $ 0.26 $ 0.54 $ 0.52
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized income (loss) on swap derivative during the period $ 875 $ (518) $ 3,736 $ (1,514)
Reclassification of amortization of forward-starting swap included in interest expense (319) (330) (639) (475)
Comprehensive income 4,969 6,740 6,819 15,907
Comprehensive income attributable to non-controlling interest 1,271 1,700 1,773 4,184
Comprehensive income attributable to American Assets Trust, Inc. 3,698 5,040 5,046 11,723
American Assets Trust, L.P.        
REVENUE:        
Rental income 76,892 72,925 153,093 142,965
Other property income 8,131 4,181 12,662 7,933
Total revenue 85,023 77,106 165,755 150,898
EXPENSES:        
Rental expenses 20,882 19,841 41,302 39,700
Real estate taxes 8,628 7,904 17,174 15,440
General and administrative 5,396 5,131 10,963 10,213
Depreciation and amortization 32,868 24,182 66,147 42,168
Total operating expenses 67,774 57,058 135,586 107,521
OPERATING INCOME 17,249 20,048 30,169 43,377
Interest expense (12,688) (12,652) (26,508) (25,983)
Other (expense) income, net (148) 192 61 502
NET INCOME 4,413 7,588 3,722 17,896
Net income attributable to restricted shares (216) (61) (144) (121)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 4,197 $ 7,527 $ 3,578 $ 17,775
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.07 $ 0.12 $ 0.06 $ 0.28
Weighted average shares of common stock outstanding-basic (in shares) 64,132,520 64,089,081 64,131,665 64,075,919
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.07 $ 0.12 $ 0.06 $ 0.28
Weighted average shares of common stock outstanding-diluted (in shares) 64,132,520 64,089,081 64,131,665 64,075,919
Distributions per unit (in USD per share) $ 0.27 $ 0.26 $ 0.54 $ 0.52
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized income (loss) on swap derivative during the period $ 875 $ (518) $ 3,736 $ (1,514)
Reclassification of amortization of forward-starting swap included in interest expense (319) (330) (639) (475)
Comprehensive income 4,969 6,740 6,819 15,907
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1]     959  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (1,271) (1,700) (1,773) (4,184)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2]     2,763  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 3,698 $ 5,040 $ 5,046 $ 11,723
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.