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Consolidated Statements of Comprehensive Income (Unaudited) - LP - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE:        
Rental income $ 103,901 $ 99,016 $ 206,611 $ 196,002
Other property income 5,820 5,139 10,864 9,623
Total revenue 109,721 104,155 217,475 205,625
EXPENSES:        
Rental expenses 28,711 25,853 56,216 49,998
Real estate taxes 11,086 11,287 22,718 22,716
General and administrative 8,609 7,612 17,608 14,754
Depreciation and amortization 29,823 31,087 59,724 61,499
Total operating expenses 78,229 75,839 156,266 148,967
OPERATING INCOME 31,492 28,316 61,209 56,658
Interest expense, net (16,368) (14,547) (32,097) (29,213)
Other income (expense), net 273 (181) 6,951 (343)
NET INCOME 15,397 13,588 36,063 27,102
Net income attributable to restricted shares (190) (154) (379) (309)
Net income attributable to American Assets Trust, Inc. stockholders $ 11,983 $ 10,582 $ 28,119 $ 21,105
EARNINGS PER COMMON SHARE, BASIC        
Earnings per unit, basic (in USD per share) $ 0.20 $ 0.18 $ 0.47 $ 0.35
Weighted average units outstanding - basic (in shares) 60,146,210 60,040,243 60,145,414 60,039,467
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per unit, diluted (in USD per share) $ 0.20 $ 0.18 $ 0.47 $ 0.35
Weighted average units outstanding - diluted (in shares) 76,327,747 76,221,780 76,326,951 76,221,004
COMPREHENSIVE INCOME        
Net income $ 15,397 $ 13,588 $ 36,063 $ 27,102
Other comprehensive income - unrealized income on swap derivatives during the period 4,360 3,314 2,091 8,910
Reclassification of amortization of forward-starting swap included in interest expense (98) (275)    
Comprehensive income 19,659 16,627 37,202 35,462
Comprehensive income attributable to American Assets Trust, Inc. 15,532 13,131 29,398 28,000
Interest Expense        
COMPREHENSIVE INCOME        
Reclassification of amortization of forward-starting swap included in interest expense (98) (275) (952) (550)
American Assets Trust, L.P.        
REVENUE:        
Rental income 103,901 99,016 206,611 196,002
Other property income 5,820 5,139 10,864 9,623
Total revenue 109,721 104,155 217,475 205,625
EXPENSES:        
Rental expenses 28,711 25,853 56,216 49,998
Real estate taxes 11,086 11,287 22,718 22,716
General and administrative 8,609 7,612 17,608 14,754
Depreciation and amortization 29,823 31,087 59,724 61,499
Total operating expenses 78,229 75,839 156,266 148,967
OPERATING INCOME 31,492 28,316 61,209 56,658
Interest expense, net (16,368) (14,547) (32,097) (29,213)
Other income (expense), net 273 (181) 6,951 (343)
NET INCOME 15,397 13,588 36,063 27,102
Net income attributable to restricted shares (190) (154) (379) (309)
Net income attributable to American Assets Trust, Inc. stockholders $ 15,207 $ 13,434 $ 35,684 $ 26,793
EARNINGS PER COMMON SHARE, BASIC        
Earnings per unit, basic (in USD per share) $ 0.20 $ 0.18 $ 0.47 $ 0.35
Weighted average units outstanding - basic (in shares) 76,327,747 76,221,780 76,326,951 76,221,004
EARNINGS PER COMMON SHARE, DILUTED        
Earnings per unit, diluted (in USD per share) $ 0.20 $ 0.18 $ 0.47 $ 0.35
Weighted average units outstanding - diluted (in shares) 76,327,747 76,221,780 76,326,951 76,221,004
Distributions per unit (in USD per share) $ 0.33 $ 0.32 $ 0.66 $ 0.64
COMPREHENSIVE INCOME        
Net income $ 15,397 $ 13,588 $ 36,063 $ 27,102
Other comprehensive income - unrealized income on swap derivatives during the period 4,360 3,314 2,091 8,910
Reclassification of amortization of forward-starting swap included in interest expense (98) (275)    
Comprehensive income 19,659 16,627 37,202 35,462
American Assets Trust, L.P. | Interest Expense        
COMPREHENSIVE INCOME        
Reclassification of amortization of forward-starting swap included in interest expense (98) (275) (952) (550)
Limited Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [1] 3,224 2,852    
COMPREHENSIVE INCOME        
Net income [1] 3,224 2,852    
Comprehensive income attributable to American Assets Trust, Inc. (4,127) (3,496) (7,804) (7,462)
General Partner | American Assets Trust, L.P.        
EXPENSES:        
NET INCOME [2] 12,173 10,736    
COMPREHENSIVE INCOME        
Net income [2] 12,173 10,736    
Comprehensive income attributable to American Assets Trust, Inc. $ 15,532 $ 13,131 $ 29,398 $ 28,000
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.