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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Property rentals $ 38,878 $ 34,554 $ 75,531 $ 69,055
Expense reimbursements 18,127 16,092 37,032 33,627
Total revenues 57,005 50,646 112,563 102,682
EXPENSES        
Operating, including fees to Vornado of $1,048, $1,071, $2,309 and $2,217, respectively 19,334 17,549 38,988 36,595
Depreciation and amortization 9,367 7,341 17,700 14,691
General and administrative, including management fees to Vornado of $595 and $1,190 in each three and six month period, respectively 1,825 1,900 3,060 3,170
Total expenses 30,526 26,790 59,748 54,456
OPERATING INCOME 26,479 23,856 52,815 48,226
Interest and other income, net 775 410 1,866 810
Interest and debt expense (5,455) (6,924) (10,861) (13,869)
Income before income taxes 21,799 17,342 43,820 35,167
Income tax expense (32) (1) (34) (4)
Net income $ 21,767 $ 17,341 $ 43,786 $ 35,163
Income per common share- basic and diluted:        
Net income per common share- basic and diluted (in dollars per share) $ 4.26 $ 3.39 $ 8.56 $ 6.88
Weighted average shares outstanding - basic and diluted (in shares) 5,113,844 5,112,026 5,113,461 5,111,616
Dividends per common share (in dollars per share) $ 4.00 $ 3.50 $ 8.00 $ 7.00