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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental revenue $ 139,909 $ 150,225 $ 426,021 $ 434,713
Observatory revenue 4,419 37,575 24,049 91,039
Lease termination fees 331 2,361 1,575 3,112
Third-party management and other fees 283 304 930 955
Other revenue and fees 1,633 2,408 5,254 6,591
Total revenues 146,575 192,873 457,829 536,410
Operating expenses:        
Property operating expenses 33,836 47,894 105,054 131,076
Ground rent expenses 2,331 2,331 6,994 6,994
General and administrative expenses 14,517 14,421 48,617 44,445
Observatory expenses 5,931 9,089 18,087 25,024
Real estate taxes 31,196 29,599 90,029 86,098
Impairment charges 2,103 0 6,204 0
Depreciation and amortization 44,733 44,260 143,609 135,179
Total operating expenses 134,647 147,594 418,594 428,816
Total operating income 11,928 45,279 39,235 107,594
Other income (expense):        
Interest income 366 2,269 2,529 9,907
Interest expense (23,360) (19,426) (66,906) (60,712)
Loss on early extinguishment of debt 0 0 (86) 0
IPO litigation expense (1,165) 0 (1,165) 0
Income (loss) before income taxes (12,231) 28,122 (26,393) 56,789
Income tax benefit (expense) (38) (1,338) 2,794 (1,219)
Net income (loss) (12,269) 26,784 (23,599) 55,570
Private perpetual preferred unit distributions (1,050) (234) (3,147) (702)
Net income (loss) attributable to common unitholders $ (13,319) $ 26,550 $ (26,746) $ 54,868
Total weighted average units:        
Basic (in units) 280,940 298,151 285,640 298,117
Diluted (in units) 280,940 298,151 285,640 298,117
Earnings per unit attributable to common unitholders:        
Basic (in USD per unit) $ (0.05) $ 0.09 $ (0.10) $ 0.18
Diluted (in USD per unit) (0.05) 0.09 (0.10) 0.18
Dividends per unit (in USD per unit) $ 0 $ 0.105 $ 0.210 $ 0.315