XML 18 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUE:        
Rental income $ 79,656 $ 76,892 $ 156,487 $ 153,093
Other property income 4,457 8,131 12,945 12,662
Total revenue 84,113 85,023 169,432 165,755
EXPENSES:        
Rental expenses 21,826 20,882 42,622 41,302
Real estate taxes 9,275 8,628 18,321 17,174
General and administrative 5,943 5,396 12,016 10,963
Depreciation and amortization 22,582 32,868 43,165 66,147
Total operating expenses 59,626 67,774 116,124 135,586
OPERATING INCOME 24,487 17,249 53,308 30,169
Interest expense (13,129) (12,688) (26,478) (26,508)
Gain on sale of real estate 633 0 633 0
Other (expense) income, net (50) (148) (279) 61
NET INCOME 11,941 4,413 27,184 3,722
Net income attributable to restricted shares (92) (216) (185) (144)
Net income attributable to unitholders in the Operating Partnership (2,933) (1,125) (6,988) (959)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 8,916 $ 3,072 $ 20,011 $ 2,619
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.18 $ 0.07 $ 0.41 $ 0.06
Weighted average shares of common stock outstanding-basic (in shares) 50,135,978 46,939,449 48,578,872 46,937,645
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.18 $ 0.07 $ 0.41 $ 0.06
Weighted average shares of common stock outstanding-diluted (in shares) 66,889,784 64,132,520 65,543,409 64,131,665
Dividends declared per common share (in USD per share) $ 0.28 $ 0.27 $ 0.56 $ 0.54
COMPREHENSIVE INCOME        
Other comprehensive (loss) income - unrealized (loss) income on swap derivative during the period $ (3,891) $ 875 $ (6,023) $ 3,736
Reclassification of amortization of forward-starting swap included in interest expense (319) (319) (639) (639)
Comprehensive income 7,731 4,969 20,522 6,819
Comprehensive income attributable to non-controlling interest (1,820) (1,271) (5,218) (1,773)
Comprehensive income attributable to American Assets Trust, Inc. 5,911 3,698 15,304 5,046
American Assets Trust, L.P.        
REVENUE:        
Rental income 79,656 76,892 156,487 153,093
Other property income 4,457 8,131 12,945 12,662
Total revenue 84,113 85,023 169,432 165,755
EXPENSES:        
Rental expenses 21,826 20,882 42,622 41,302
Real estate taxes 9,275 8,628 18,321 17,174
General and administrative 5,943 5,396 12,016 10,963
Depreciation and amortization 22,582 32,868 43,165 66,147
Total operating expenses 59,626 67,774 116,124 135,586
OPERATING INCOME 24,487 17,249 53,308 30,169
Interest expense (13,129) (12,688) (26,478) (26,508)
Gain on sale of real estate 633 0 633 0
Other (expense) income, net (50) (148) (279) 61
NET INCOME 11,941 4,413 27,184 3,722
Net income attributable to restricted shares (92) (216) (185) (144)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 11,849 $ 4,197 $ 26,999 $ 3,578
EARNINGS PER COMMON SHARE        
Earnings per common share, basic (in USD per share) $ 0.18 $ 0.07 $ 0.41 $ 0.06
Weighted average shares of common stock outstanding-basic (in shares) 66,889,784 64,132,520 65,543,409 64,131,665
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per common share, diluted (in USD per share) $ 0.18 $ 0.07 $ 0.41 $ 0.06
Weighted average shares of common stock outstanding-diluted (in shares) 66,889,784 64,132,520 65,543,409 64,131,665
Distributions per unit (in USD per share) $ 0.28 $ 0.27 $ 0.56 $ 0.54
COMPREHENSIVE INCOME        
Other comprehensive (loss) income - unrealized (loss) income on swap derivative during the period $ (3,891) $ 875 $ (6,023) $ 3,736
Reclassification of amortization of forward-starting swap included in interest expense (319) (319) (639) (639)
Comprehensive income 7,731 4,969 20,522 6,819
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1] 2,933 1,125    
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. (1,820) (1,271) (5,218) (1,773)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2] 9,008 3,288    
COMPREHENSIVE INCOME        
Comprehensive income attributable to American Assets Trust, Inc. $ 5,911 $ 3,698 $ 15,304 $ 5,046
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.