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Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE        
Rental income $ 273,179 $ 247,024 $ 793,516 $ 694,954
Mortgage interest income 272 260 805 2,116
Total revenue 273,451 247,284 794,321 697,070
EXPENSES        
Rental expenses 58,809 49,318 166,189 141,474
Real estate taxes 32,803 29,529 94,628 88,272
General and administrative 13,100 12,253 39,046 35,357
Depreciation and amortization 77,109 70,611 223,244 202,160
Total operating expenses 181,821 161,711 523,107 467,263
Gain on deconsolidation of VIE 70,374 0 70,374 0
Gain on sale of real estate and change in control of interest 29,723 0 29,723 17,428
OPERATING INCOME 191,727 85,573 371,311 247,235
OTHER INCOME/(EXPENSE)        
Other interest income 234 88 487 701
Interest expense (35,060) (32,249) (98,707) (95,511)
Income (loss) from partnerships 1,873 1,129 4,878 (86)
NET INCOME 158,774 54,541 277,969 152,339
Net income attributable to noncontrolling interests (2,636) (2,419) (8,171) (5,777)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 156,138 52,122 269,798 146,562
Dividends on preferred shares (2,008) (2,010) (6,026) (6,031)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 154,130 $ 50,112 $ 263,772 $ 140,531
EARNINGS PER COMMON SHARE, BASIC:        
Net income available for common shareholders $ 1.90 $ 0.64 $ 3.31 $ 1.81
Weighted average number of common shares 80,765 77,485 79,480 77,269
EARNINGS PER COMMON SHARE, DILUTED:        
Net income available for common shareholders $ 1.89 $ 0.64 $ 3.31 $ 1.81
Weighted average number of common shares 81,511 77,575 80,137 77,287
EARNINGS PER COMMON UNIT, DILUTED:        
COMPREHENSIVE INCOME $ 161,569 $ 55,095 $ 286,902 $ 155,530
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 158,672 52,634 277,929 149,480
Federal Realty OP LP        
REVENUE        
Rental income 273,179 247,024 793,516 694,954
Mortgage interest income 272 260 805 2,116
Total revenue 273,451 247,284 794,321 697,070
EXPENSES        
Rental expenses 58,809 49,318 166,189 141,474
Real estate taxes 32,803 29,529 94,628 88,272
General and administrative 13,100 12,253 39,046 35,357
Depreciation and amortization 77,109 70,611 223,244 202,160
Total operating expenses 181,821 161,711 523,107 467,263
Gain on deconsolidation of VIE 70,374 0 70,374 0
Gain on sale of real estate and change in control of interest 29,723 0 29,723 17,428
OPERATING INCOME 191,727 85,573 371,311 247,235
OTHER INCOME/(EXPENSE)        
Other interest income 234 88 487 701
Interest expense (35,060) (32,249) (98,707) (95,511)
Income (loss) from partnerships 1,873 1,129 4,878 (86)
NET INCOME 158,774 54,541 277,969 152,339
Net income attributable to noncontrolling interests (2,636) (2,419) (8,171) (5,777)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 156,138 52,122 269,798 146,562
Distributions declared to preferred unit holders (2,008) (2,010) (6,026) (6,031)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 154,130 $ 50,112 $ 263,772 $ 140,531
EARNINGS PER COMMON UNIT, BASIC:        
Net income available for common unit holders $ 1.90 $ 0.64 $ 3.31 $ 1.81
Weighted average common units outstanding 80,765 77,485 79,480 77,269
EARNINGS PER COMMON UNIT, DILUTED:        
Net income available for common unit holders $ 1.89 $ 0.64 $ 3.31 $ 1.81
Weighted average common units outstanding 81,511 77,575 80,137 77,287
COMPREHENSIVE INCOME $ 161,569 $ 55,095 $ 286,902 $ 155,530
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 158,672 $ 52,634 $ 277,929 $ 149,480