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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES        
Property rentals $ 34,554 $ 34,046 $ 69,055 $ 68,182
Expense reimbursements 16,092 15,937 33,627 31,269
Total revenues 50,646 49,983 102,682 99,451
EXPENSES        
Operating, including fees to Vornado of $1,071, $1,057, $2,217 and $2,146, respectively 17,549 17,150 36,595 33,640
Depreciation and amortization 7,341 7,280 14,691 14,541
General and administrative, including management fees to Vornado of $595 and $1,190 in each three and six month period, respectively 1,900 1,558 3,170 2,745
Total expenses 26,790 25,988 54,456 50,926
OPERATING INCOME 23,856 23,995 48,226 48,525
Interest and other income, net 410 425 810 826
Interest and debt expense (6,924) (7,590) (13,869) (17,274)
Income before income taxes 17,342 16,830 35,167 32,077
Income tax expense (1) (2) (4) (5)
Net income $ 17,341 $ 16,828 $ 35,163 $ 32,072
Income per common share- basic and diluted:        
Net income per common share- basic and diluted (in dollars per share) $ 3.39 $ 3.29 $ 6.88 $ 6.28
Weighted average shares outstanding- basic and diluted (in shares) 5,112,026 5,110,369 5,111,616 5,110,045
Dividends per common share (in dollars per share) $ 3.50 $ 3.25 $ 7.00 $ 6.50