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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUE:    
Total rental income $ 92,070 $ 76,831
Other property income 4,673 8,488
Total revenue 96,743 85,319
EXPENSES:    
Rental expenses 22,568 20,796
Real estate taxes 11,045 9,046
General and administrative 6,820 6,073
Depreciation and amortization 27,462 20,583
Total operating expenses 67,895 56,498
OPERATING INCOME 28,848 28,821
Interest expense (13,472) (13,349)
Other income (expense), net 108 (229)
NET INCOME 15,484 15,243
Net income attributable to restricted shares (104) (93)
Net income attributable to unitholders in the Operating Partnership (3,312) (4,055)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 12,068 $ 11,095
EARNINGS PER COMMON SHARE    
Earnings per common share, basic (in USD per share) $ 0.20 $ 0.24
Weighted average shares of common stock outstanding-basic (in shares) 59,723,072 47,004,465
EARNINGS PER COMMON SHARE, DILUTED    
Earnings per common share, diluted (in USD per share) $ 0.20 $ 0.24
Weighted average shares of common stock outstanding-diluted (in shares) 76,113,620 64,182,073
Dividends declared per common share (in USD per share) $ 0.30 $ 0.28
COMPREHENSIVE INCOME    
Net income $ 15,484 $ 15,243
Reclassification of amortization of forward-starting swap included in interest expense 333 320
Comprehensive income 9,036 12,791
Comprehensive income attributable to non-controlling interests (1,941) (3,398)
Comprehensive income attributable to American Assets Trust, Inc. 7,095 9,393
American Assets Trust, L.P.    
REVENUE:    
Total rental income 92,070 76,831
Other property income 4,673 8,488
Total revenue 96,743 85,319
EXPENSES:    
Rental expenses 22,568 20,796
Real estate taxes 11,045 9,046
General and administrative 6,820 6,073
Depreciation and amortization 27,462 20,583
Total operating expenses 67,895 56,498
OPERATING INCOME 28,848 28,821
Interest expense (13,472) (13,349)
Other income (expense), net 108 (229)
NET INCOME 15,484 15,243
Net income attributable to restricted shares (104) (93)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 15,380 $ 15,150
EARNINGS PER COMMON SHARE    
Earnings per common share, basic (in USD per share) $ 0.20 $ 0.24
Weighted average shares of common stock outstanding-basic (in shares) 76,113,620 64,182,073
EARNINGS PER COMMON SHARE, DILUTED    
Earnings per common share, diluted (in USD per share) $ 0.20 $ 0.24
Weighted average shares of common stock outstanding-diluted (in shares) 76,113,620 64,182,073
Distributions per unit (in USD per share) $ 0.30 $ 0.28
COMPREHENSIVE INCOME    
Net income $ 15,484 $ 15,243
Reclassification of amortization of forward-starting swap included in interest expense 333 320
Comprehensive income 9,036 12,791
Limited Partner | American Assets Trust, L.P.    
EXPENSES:    
NET INCOME [1] 3,312 4,055
COMPREHENSIVE INCOME    
Net income [1] 3,312 4,055
Comprehensive income attributable to American Assets Trust, Inc. (1,941) (3,398)
General Partner | American Assets Trust, L.P.    
EXPENSES:    
NET INCOME [2] 12,172 11,188
COMPREHENSIVE INCOME    
Net income [2] 12,172 11,188
Comprehensive income attributable to American Assets Trust, Inc. 7,095 9,393
Interest Rate Swap    
COMPREHENSIVE INCOME    
Other comprehensive loss - change in value of interest rate swaps (6,115) (2,132)
Interest Rate Swap | American Assets Trust, L.P.    
COMPREHENSIVE INCOME    
Other comprehensive loss - change in value of interest rate swaps $ (6,115) $ (2,132)
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.