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Consolidated Statements of Comprehensive Income (Unaudited) - LP - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE:    
Rental income $ 102,710 $ 96,986
Other property income 5,044 4,484
Total revenue 107,754 101,470
EXPENSES:    
Rental expenses 27,506 24,145
Real estate taxes 11,632 11,429
General and administrative 8,999 7,142
Depreciation and amortization 29,901 30,412
Total operating expenses 78,038 73,128
Operating income 29,716 28,342
Interest expense, net (15,729) (14,666)
Other (expense) income, net 6,679 (162)
NET INCOME 20,666 13,514
Net income attributable to restricted shares (189) (155)
Net income attributable to American Assets Trust, Inc. stockholders $ 16,136 $ 10,523
EARNINGS PER COMMON SHARE, BASIC    
Earnings per unit, basic (in USD per share) $ 0.27 $ 0.18
Weighted average units outstanding - basic (in shares) 60,144,609 60,038,683
EARNINGS PER COMMON SHARE, DILUTED    
Earnings per unit, diluted (in USD per share) $ 0.27 $ 0.18
Weighted average units outstanding - diluted (in shares) 76,326,146 76,220,220
COMPREHENSIVE INCOME    
Net income $ 20,666 $ 13,514
Other comprehensive income - unrealized (loss) income on swap derivatives during the period (2,269) 5,596
Reclassification of amortization of forward-starting swap included in interest expense (854) (275)
Comprehensive income 17,543 18,835
Comprehensive income attributable to American Assets Trust, Inc. 13,866 14,869
Interest Expense    
COMPREHENSIVE INCOME    
Reclassification of amortization of forward-starting swap included in interest expense (854) (275)
American Assets Trust, L.P.    
REVENUE:    
Rental income 102,710 96,986
Other property income 5,044 4,484
Total revenue 107,754 101,470
EXPENSES:    
Rental expenses 27,506 24,145
Real estate taxes 11,632 11,429
General and administrative 8,999 7,142
Depreciation and amortization 29,901 30,412
Total operating expenses 78,038 73,128
Operating income 29,716 28,342
Interest expense, net (15,729) (14,666)
Other (expense) income, net 6,679 (162)
NET INCOME 20,666 13,514
Net income attributable to restricted shares (189) (155)
Net income attributable to American Assets Trust, Inc. stockholders $ 20,477 $ 13,359
EARNINGS PER COMMON SHARE, BASIC    
Earnings per unit, basic (in USD per share) $ 0.27 $ 0.18
Weighted average units outstanding - basic (in shares) 76,326,146 76,220,220
EARNINGS PER COMMON SHARE, DILUTED    
Earnings per unit, diluted (in USD per share) $ 0.27 $ 0.18
Weighted average units outstanding - diluted (in shares) 76,326,146 76,220,220
Distributions per unit (in USD per share) $ 0.33 $ 0.32
COMPREHENSIVE INCOME    
Net income $ 20,666 $ 13,514
Other comprehensive income - unrealized (loss) income on swap derivatives during the period (2,269) 5,596
Reclassification of amortization of forward-starting swap included in interest expense (854) (275)
Comprehensive income 17,543 18,835
American Assets Trust, L.P. | Interest Expense    
COMPREHENSIVE INCOME    
Reclassification of amortization of forward-starting swap included in interest expense (854) (275)
Limited Partner | American Assets Trust, L.P.    
EXPENSES:    
NET INCOME [1] 4,341 2,836
COMPREHENSIVE INCOME    
Net income [1] 4,341 2,836
Comprehensive income attributable to American Assets Trust, Inc. (3,677) (3,966)
General Partner | American Assets Trust, L.P.    
EXPENSES:    
NET INCOME [2] 16,325 10,678
COMPREHENSIVE INCOME    
Net income [2] 16,325 10,678
Comprehensive income attributable to American Assets Trust, Inc. $ 13,866 $ 14,869
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.