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Consolidated Statements of Comprehensive Income (Unaudited) - LP - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE:        
Rental income $ 105,468 $ 93,804 $ 301,470 $ 262,573
Other property income 5,555 4,482 15,178 11,508
Total revenue 111,023 98,286 316,648 274,081
EXPENSES:        
Rental expenses 28,438 23,466 78,436 61,916
Real estate taxes 11,477 9,644 34,193 31,610
General and administrative 8,376 6,827 23,130 20,574
Depreciation and amortization 31,729 30,680 93,228 85,827
Total operating expenses 80,020 70,617 228,987 199,927
Operating income 31,003 27,669 87,661 74,154
Interest expense (14,454) (14,722) (43,667) (43,589)
Loss on early extinguishment of debt 0 0 0 (4,271)
Other (expense) income, net (180) (52) (523) (179)
Net income 16,369 12,895 43,471 26,115
Net income attributable to restricted shares (155) (145) (464) (417)
Net income attributable to American Assets Trust, Inc. stockholders $ 12,772 $ 10,041 $ 33,877 $ 20,239
EARNINGS PER COMMON SHARE, BASIC        
Earnings per unit, basic (in USD per share) $ 0.21 $ 0.17 $ 0.56 $ 0.34
Weighted average units outstanding - basic (in shares) 60,044,117 59,990,343 60,041,034 59,986,844
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per unit, diluted (in USD per share) $ 0.21 $ 0.17 $ 0.56 $ 0.34
Weighted average units outstanding - diluted (in shares) 76,225,654 76,171,880 76,222,571 76,168,381
COMPREHENSIVE INCOME        
Net income $ 16,369 $ 12,895 $ 43,471 $ 26,115
Other comprehensive income - change in value of interest rate swaps 4,207 435 13,117 1,657
Comprehensive income 20,301 13,056 55,763 26,755
Comprehensive income attributable to American Assets Trust, Inc. 16,024 10,312 44,024 21,151
Interest Expense        
COMPREHENSIVE INCOME        
Reclassification of amortization of forward-starting swap realized gain (275) (274) (825) (824)
Early Extinguishment of Debt        
COMPREHENSIVE INCOME        
Reclassification of amortization of forward-starting swap realized gain 0 0 0 (193)
American Assets Trust, L.P.        
REVENUE:        
Rental income 105,468 93,804 301,470 262,573
Other property income 5,555 4,482 15,178 11,508
Total revenue 111,023 98,286 316,648 274,081
EXPENSES:        
Rental expenses 28,438 23,466 78,436 61,916
Real estate taxes 11,477 9,644 34,193 31,610
General and administrative 8,376 6,827 23,130 20,574
Depreciation and amortization 31,729 30,680 93,228 85,827
Total operating expenses 80,020 70,617 228,987 199,927
Operating income 31,003 27,669 87,661 74,154
Interest expense (14,454) (14,722) (43,667) (43,589)
Loss on early extinguishment of debt 0 0 0 (4,271)
Other (expense) income, net (180) (52) (523) (179)
Net income 16,369 12,895 43,471 26,115
Net income attributable to restricted shares (155) (145) (464) (417)
Net income attributable to American Assets Trust, Inc. stockholders $ 16,214 $ 12,750 $ 43,007 $ 25,698
EARNINGS PER COMMON SHARE, BASIC        
Earnings per unit, basic (in USD per share) $ 0.21 $ 0.17 $ 0.56 $ 0.34
Weighted average units outstanding - basic (in shares) 76,225,654 76,171,880 76,222,571 76,168,381
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per unit, diluted (in USD per share) $ 0.21 $ 0.17 $ 0.56 $ 0.34
Weighted average units outstanding - diluted (in shares) 76,225,654 76,171,880 76,222,571 76,168,381
Distributions per unit (in USD per share) $ 0.32 $ 0.30 $ 0.96 $ 0.86
COMPREHENSIVE INCOME        
Net income $ 16,369 $ 12,895 $ 43,471 $ 26,115
Other comprehensive income - change in value of interest rate swaps 4,207 435 13,117 1,657
Comprehensive income 20,301 13,056 55,763 26,755
American Assets Trust, L.P. | Interest Expense        
COMPREHENSIVE INCOME        
Reclassification of amortization of forward-starting swap realized gain (275) (274) (825) (824)
American Assets Trust, L.P. | Early Extinguishment of Debt        
COMPREHENSIVE INCOME        
Reclassification of amortization of forward-starting swap realized gain 0 0 0 (193)
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
Net income [1] 3,442 2,709    
COMPREHENSIVE INCOME        
Net income [1] 3,442 2,709    
Comprehensive income attributable to American Assets Trust, Inc. (4,277) (2,744) (11,739) (5,604)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
Net income [2] 12,927 10,186    
COMPREHENSIVE INCOME        
Net income [2] 12,927 10,186    
Comprehensive income attributable to American Assets Trust, Inc. $ 16,024 $ 10,312 $ 44,024 $ 21,151
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.