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Consolidated Statements of Comprehensive Income - LP - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE:    
Rental income $ 105,021 $ 102,710
Other property income 5,674 5,044
Total revenue 110,695 107,754
EXPENSES:    
Rental expenses 29,841 27,506
Real estate taxes 11,246 11,632
General and administrative 8,842 8,999
Depreciation and amortization 30,217 29,901
Total operating expenses 80,146 78,038
OPERATING INCOME 30,549 29,716
Interest expense, net (16,255) (15,729)
Other income, net 10,329 6,679
NET INCOME 24,623 20,666
Net income attributable to restricted shares (196) (189)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 19,260 $ 16,136
EARNINGS PER UNIT - BASIC    
Earnings per unit, basic (in dollars per share) $ 0.32 $ 0.27
Weighted average units outstanding - basic (in shares) 60,309,921 60,144,609
EARNINGS PER UNIT - DILUTED    
Earnings per unit, diluted (in dollars per share) $ 0.32 $ 0.27
Weighted average units outstanding - diluted (in shares) 76,491,458 76,326,146
COMPREHENSIVE INCOME    
Net income $ 24,623 $ 20,666
Other comprehensive income - unrealized income (loss) on swap derivatives during the period 1,392 (2,269)
Reclassification of amortization of forward-starting swap included in interest expense (98) (854)
Comprehensive income 25,917 17,543
Comprehensive income attributable to American Assets Trust, Inc. 20,478 13,866
American Assets Trust, L.P.    
REVENUE:    
Rental income 105,021 102,710
Other property income 5,674 5,044
Total revenue 110,695 107,754
EXPENSES:    
Rental expenses 29,841 27,506
Real estate taxes 11,246 11,632
General and administrative 8,842 8,999
Depreciation and amortization 30,217 29,901
Total operating expenses 80,146 78,038
OPERATING INCOME 30,549 29,716
Interest expense, net (16,255) (15,729)
Other income, net 10,329 6,679
NET INCOME 24,623 20,666
Net income attributable to restricted shares (196) (189)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS $ 24,427 $ 20,477
EARNINGS PER UNIT - BASIC    
Earnings per unit, basic (in dollars per share) $ 0.32 $ 0.27
Weighted average units outstanding - basic (in shares) 76,491,458 76,326,146
EARNINGS PER UNIT - DILUTED    
Earnings per unit, diluted (in dollars per share) $ 0.32 $ 0.27
Weighted average units outstanding - diluted (in shares) 76,491,458 76,326,146
DISTRIBUTIONS PER UNIT (in USD per share) $ 0.335 $ 0.330
COMPREHENSIVE INCOME    
Net income $ 24,623 $ 20,666
Other comprehensive income - unrealized income (loss) on swap derivatives during the period 1,392 (2,269)
Reclassification of amortization of forward-starting swap included in interest expense (98) (854)
Comprehensive income 25,917 17,543
American Assets Trust, L.P. | Limited Partners    
EXPENSES:    
NET INCOME [1] 5,167 4,341
COMPREHENSIVE INCOME    
Net income [1] 5,167 4,341
Comprehensive income attributable to American Assets Trust, Inc. (5,439) (3,677)
American Assets Trust, L.P. | General Partners    
EXPENSES:    
NET INCOME [2] 19,456 16,325
COMPREHENSIVE INCOME    
Net income [2] 19,456 16,325
Comprehensive income attributable to American Assets Trust, Inc. $ 20,478 $ 13,866
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.