XML 43 R59.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Debt Summary of Total Unsecured Notes Payable Outstanding (Details)
$ in Thousands
12 Months Ended
Jul. 17, 2019
USD ($)
Jan. 09, 2019
Extension_Option
Jun. 23, 2017
USD ($)
May 31, 2017
May 11, 2017
USD ($)
Apr. 25, 2017
Jan. 18, 2017
USD ($)
May 02, 2016
Apr. 07, 2016
Mar. 29, 2016
Mar. 23, 2016
Mar. 01, 2016
Jan. 29, 2016
Sep. 19, 2014
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Jul. 19, 2017
May 23, 2017
Mar. 01, 2017
Jan. 09, 2014
USD ($)
Debt Instrument [Line Items]                                        
Debt issuance costs, net                             $ (1,256) $ 0        
Unsecured notes payable                             1,195,780 1,045,863        
Debt issuance costs, accumulated amortization                             814 0        
American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Unsecured notes payable                             $ 1,195,780 $ 1,045,863        
American Assets Trust, L.P. | Interest Rate Swap                                        
Debt Instrument [Line Items]                                        
Fixed interest rate on derivative                             3.08%          
Term of derivative contract       7 years   10 years     10 years 10 years         7 years          
American Assets Trust, L.P. | Forward Contracts                                        
Debt Instrument [Line Items]                                        
Term of derivative contract                             1 month          
Gain on derivatives $ 500       $ 700   $ 10,400             $ 1,600            
Loss on derivatives     $ 500                                  
Term Loan A | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Unsecured notes payable                                       $ 100,000
Term Loan A | American Assets Trust, L.P. | Interest Rate Swap                                        
Debt Instrument [Line Items]                                        
Fixed interest rate on derivative                             4.13%          
Senior Guaranteed Notes, Series A | American Assets Trust, L.P. | Forward Contracts                                        
Debt Instrument [Line Items]                                        
Effective interest rate (percent)                             3.88%          
Term Loan B | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Stated Maturity Date                       Mar. 01, 2023 Mar. 01, 2023              
Term Loan B | American Assets Trust, L.P. | Interest Rate Swap                                        
Debt Instrument [Line Items]                                        
Fixed interest rate on derivative                             2.75% 3.15%        
Term Loan C | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Stated Maturity Date               Mar. 01, 2023     Mar. 01, 2023                  
Term Loan C | American Assets Trust, L.P. | Interest Rate Swap                                        
Debt Instrument [Line Items]                                        
Fixed interest rate on derivative                             2.74% 3.14%        
Senior Guaranteed Notes, Series F | American Assets Trust, L.P. | Forward Contracts                                        
Debt Instrument [Line Items]                                        
Effective interest rate (percent)                             3.85%          
Senior Guaranteed Notes, Series D | American Assets Trust, L.P. | Forward Contracts                                        
Debt Instrument [Line Items]                                        
Effective interest rate (percent)                             3.87%          
Senior Guaranteed Notes, Series E | American Assets Trust, L.P. | Forward Contracts                                        
Debt Instrument [Line Items]                                        
Effective interest rate (percent)                             4.18%          
Senior Guaranteed Notes, Series G [Member] | American Assets Trust, L.P. | Forward Contracts                                        
Debt Instrument [Line Items]                                        
Effective interest rate (percent)                             3.88%          
Unsecured debt | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 1,200,000 $ 1,050,000        
Debt issuance costs, net                             (4,220) (4,137)        
Unsecured notes payable                             1,195,780 1,045,863        
Debt issuance costs, accumulated amortization                             7,835 6,844        
Unsecured debt | Term Loan A | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 100,000 100,000        
Stated Maturity Date                             Jan. 09, 2021          
Number of extensions available | Extension_Option   3                                    
Extension term (in months)   1 year                                    
Unsecured debt | Senior Guaranteed Notes, Series A | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 150,000 150,000        
Stated Interest Rate [1]                             4.04%          
Stated Maturity Date                             Oct. 31, 2021          
Unsecured debt | Term Loan B | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 100,000 100,000        
Stated Maturity Date                             Mar. 01, 2023          
Unsecured debt | Term Loan C | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 50,000 50,000        
Stated Maturity Date                             Mar. 01, 2023          
Unsecured debt | Senior Guaranteed Notes, Series F | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 100,000 100,000        
Stated Interest Rate                             3.78% [2]   3.78%      
Stated Maturity Date                             Jul. 19, 2024          
Unsecured debt | Senior Guaranteed Notes, Series B | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 100,000 100,000        
Stated Interest Rate                             4.45%          
Stated Maturity Date                             Feb. 02, 2025          
Unsecured debt | Senior Guaranteed Notes, Series C | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 100,000 100,000        
Stated Interest Rate                             4.50%          
Stated Maturity Date                             Apr. 01, 2025          
Unsecured debt | Senior Guaranteed Notes, Series D | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 250,000 250,000        
Stated Interest Rate                             4.29% [3]       4.29%  
Stated Maturity Date                             Mar. 01, 2027          
Unsecured debt | Senior Guaranteed Notes, Series E | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 100,000 100,000        
Stated Interest Rate                             4.24% [4]     4.24%    
Stated Maturity Date                             May 23, 2029          
Unsecured debt | Senior Guaranteed Notes, Series G [Member] | American Assets Trust, L.P.                                        
Debt Instrument [Line Items]                                        
Long-term Debt, Principal Balance                             $ 150,000 $ 0        
Stated Interest Rate [5]                             3.91%          
Stated Maturity Date                             Jul. 30, 2030          
[1]
The company entered into a one month forward-starting seven years swap contract on August 19, 2014, which was settled on September 19, 2014 at a gain of approximately $1.6 million (see Note 8). The forward-starting seven-year swap contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.88% per annum.
[2]
The Operating Partnership entered into a treasury lock contract on May 31, 2017, which was settled on June 23, 2017 at a loss of approximately $0.5 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.85% per annum.
[3]
The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million. The forward-starting interest swap rate contracts were deemed to be highly effective cash flow hedges, accordingly, the effective interest rate is approximately 3.87% per annum.
[4]
The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum.
[5]
The Operating Partnership entered into a treasury lock contract on June 20, 2019, which was settled on July 17, 2019 at a gain of approximately $0.5 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.88% per annum.