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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUE:        
Rental income $ 78,079 $ 78,135 $ 231,172 $ 221,100
Other property income 4,428 4,204 17,090 12,137
Total revenue 82,507 82,339 248,262 233,237
Cost of Other Property Operating Expense 21,383 21,177 62,685 60,877
EXPENSES:        
Real estate taxes 8,787 8,535 25,961 23,975
General and administrative 5,176 4,958 16,139 15,171
Depreciation and amortization 19,886 21,192 86,033 63,360
Total operating expenses 55,232 55,862 190,818 163,383
OPERATING INCOME 27,275 26,477 57,444 69,854
Interest expense (12,879) (13,873) (39,387) (39,856)
Other (expense) income, net (125) (99) (64) 403
NET INCOME 14,271 12,505 17,993 30,401
Net income attributable to restricted shares (71) (60) (215) (181)
Net income attributable to unitholders in the Operating Partnership (3,806) (3,351) (4,765) (8,220)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 10,394 $ 9,094 $ 13,013 $ 22,000
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.22 $ 0.19 $ 0.28 $ 0.47
Weighted average shares of common stock outstanding-basic (in shares) 46,959,752 46,898,086 46,945,095 46,650,403
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.22 $ 0.19 $ 0.28 $ 0.47
Weighted average shares of common stock outstanding-diluted (in shares) 64,137,360 64,093,066 64,133,584 64,081,697
Dividends declared per common share (in USD per share) $ 0.27 $ 0.26 $ 0.81 $ 0.78
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized income (loss) on swap derivative during the period $ 567 $ 87 $ 4,303 $ (1,427)
Reclassification of amortization of forward-starting swap included in interest expense (320) (319) (959) (794)
Comprehensive income 14,518 12,273 21,337 28,180
Comprehensive income attributable to non-controlling interest (3,872) (3,263) (5,645) (7,447)
Comprehensive income attributable to American Assets Trust, Inc. 10,646 9,010 15,692 20,733
American Assets Trust, L.P.        
REVENUE:        
Rental income 78,079 78,135 231,172 221,100
Other property income 4,428 4,204 17,090 12,137
Total revenue 82,507 82,339 248,262 233,237
Cost of Other Property Operating Expense 21,383 21,177 62,685 60,877
EXPENSES:        
Real estate taxes 8,787 8,535 25,961 23,975
General and administrative 5,176 4,958 16,139 15,171
Depreciation and amortization 19,886 21,192 86,033 63,360
Total operating expenses 55,232 55,862 190,818 163,383
OPERATING INCOME 27,275 26,477 57,444 69,854
Interest expense (12,879) (13,873) (39,387) (39,856)
Other (expense) income, net (125) (99) (64) 403
NET INCOME 14,271 12,505 17,993 30,401
Net income attributable to restricted shares (71) (60) (215) (181)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 14,200 $ 12,445 $ 17,778 $ 30,220
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.22 $ 0.19 $ 0.28 $ 0.47
Weighted average shares of common stock outstanding-basic (in shares) 64,137,360 64,093,066 64,133,584 64,081,697
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.22 $ 0.19 $ 0.28 $ 0.47
Weighted average shares of common stock outstanding-diluted (in shares) 64,137,360 64,093,066 64,133,584 64,081,697
Distributions per unit (in USD per share) $ 0.27 $ 0.26 $ 0.81 $ 0.78
COMPREHENSIVE INCOME        
Other comprehensive income (loss) - unrealized income (loss) on swap derivative during the period $ 567 $ 87 $ 4,303 $ (1,427)
Reclassification of amortization of forward-starting swap included in interest expense (320) (319) (959) (794)
Comprehensive income 14,518 12,273 21,337 28,180
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1]     4,765  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (3,872) (3,263) (5,645) (7,447)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2]     13,228  
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 10,646 $ 9,010 $ 15,692 $ 20,733
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.