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Consolidated Statements of Comprehensive Income - LP - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE:      
Rental income $ 419,373 $ 402,507 $ 360,208
Other property income 21,791 20,141 15,620
Total revenue 441,164 422,648 375,828
EXPENSES:      
Rental expenses 118,801 107,645 86,980
Real estate taxes 45,156 44,788 42,794
General and administrative 35,960 32,143 29,879
Depreciation and amortization 119,500 123,338 116,306
Total operating expenses 319,417 307,914 275,959
OPERATING INCOME 121,747 114,734 99,869
Interest expense, net (64,706) (58,232) (58,587)
Loss on early extinguishment of debt 0 0 (4,271)
Other income (expense), net 7,649 (625) (418)
Net income 64,690 55,877 36,593
Net income attributable to restricted shares (761) (648) (564)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 50,378 $ 43,506 $ 28,376
EARNINGS PER COMMON SHARE, BASIC      
Earnings per unit, basic (in USD per share) $ 0.84 $ 0.72 $ 0.47
Weighted average units outstanding - basic (in shares) 60,158,976 60,048,970 59,990,740
EARNINGS PER COMMON SHARE, DILUTED      
Earnings per unit, diluted (in USD per share) $ 0.84 $ 0.72 $ 0.47
Weighted average units outstanding - diluted (in shares) 76,340,513 76,230,507 76,172,277
COMPREHENSIVE INCOME      
Net income $ 64,690 $ 55,877 $ 36,593
Other comprehensive (loss) income - unrealized (loss) income on swap derivatives during the period (1,827) 11,319 2,723
Comprehensive income 61,714 65,719 38,025
Comprehensive income attributable to American Assets Trust, Inc. 48,797 51,906 30,059
Forward starting swaps included in interest expense, net      
COMPREHENSIVE INCOME      
Reclassification of amortization of forward starting swaps (1,149) (1,477) (1,098)
Forward-starting swap realized gain included in loss on early extinguishment of debt      
COMPREHENSIVE INCOME      
Reclassification of amortization of forward starting swaps 0 0 (193)
American Assets Trust, L.P.      
REVENUE:      
Rental income 419,373 402,507 360,208
Other property income 21,791 20,141 15,620
Total revenue 441,164 422,648 375,828
EXPENSES:      
Rental expenses 118,801 107,645 86,980
Real estate taxes 45,156 44,788 42,794
General and administrative 35,960 32,143 29,879
Depreciation and amortization 119,500 123,338 116,306
Total operating expenses 319,417 307,914 275,959
OPERATING INCOME 121,747 114,734 99,869
Interest expense, net (64,706) (58,232) (58,587)
Loss on early extinguishment of debt 0 0 (4,271)
Other income (expense), net 7,649 (625) (418)
Net income 64,690 55,877 36,593
Net income attributable to restricted shares (761) (648) (564)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 63,929 $ 55,229 $ 36,029
EARNINGS PER COMMON SHARE, BASIC      
Earnings per unit, basic (in USD per share) $ 0.84 $ 0.72 $ 0.47
Weighted average units outstanding - basic (in shares) 76,340,513 76,230,507 76,172,277
EARNINGS PER COMMON SHARE, DILUTED      
Earnings per unit, diluted (in USD per share) $ 0.84 $ 0.72 $ 0.47
Weighted average units outstanding - diluted (in shares) 76,340,513 76,230,507 76,172,277
DISTRIBUTIONS PER UNIT (in dollars per share) $ 1.32 $ 1.28 $ 1.16
COMPREHENSIVE INCOME      
Net income $ 64,690 $ 55,877 $ 36,593
Other comprehensive (loss) income - unrealized (loss) income on swap derivatives during the period (1,827) 11,319 2,723
Comprehensive income 61,714 65,719 38,025
American Assets Trust, L.P. | Limited Partners      
EXPENSES:      
Net income [1] 13,551 11,723 7,653
COMPREHENSIVE INCOME      
Net income [1] 13,551 11,723 7,653
Comprehensive income attributable to American Assets Trust, Inc. (12,917) (13,813) (7,966)
American Assets Trust, L.P. | General Partner      
EXPENSES:      
Net income [2] 51,139 44,154 28,940
COMPREHENSIVE INCOME      
Net income [2] 51,139 44,154 28,940
Comprehensive income attributable to American Assets Trust, Inc. 48,797 51,906 30,059
American Assets Trust, L.P. | Forward starting swaps included in interest expense, net      
COMPREHENSIVE INCOME      
Reclassification of amortization of forward starting swaps (1,149) (1,477) (1,098)
American Assets Trust, L.P. | Forward-starting swap realized gain included in loss on early extinguishment of debt      
COMPREHENSIVE INCOME      
Reclassification of amortization of forward starting swaps $ 0 $ 0 $ (193)
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general and limited partnership interests held by American Assets Trust, Inc.