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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Property rentals $ 38,618 $ 38,264 $ 76,859 $ 76,537
Expense reimbursements 19,635 18,926 39,274 37,882
Total revenues 58,253 57,190 116,133 114,419
EXPENSES        
Operating, including fees to Vornado of $1,109, $1,091, $2,275 and $2,219, respectively 21,511 20,744 43,788 41,665
Depreciation and amortization 8,700 8,138 16,983 16,183
General and administrative, including management fees to Vornado of $595 and $1,190 in each three and six month period, respectively 1,689 1,696 2,950 2,852
Total expenses 31,900 30,578 63,721 60,700
OPERATING INCOME 26,353 26,612 52,412 53,719
Interest and other income, net 1,730 1,297 4,768 2,024
Interest and debt expense (10,945) (7,255) (20,774) (13,415)
Change in fair value of marketable securities (see Note 7) 433 0 (4,737) 0
Income before income taxes 17,571 20,654 31,669 42,328
Income tax (expense) benefit (1) 6 (2) (1)
Income from continuing operations 17,570 20,660 31,667 42,327
Loss from discontinued operations (see Note 8) 0 0 (23,797) 0
Net income $ 17,570 $ 20,660 $ 7,870 $ 42,327
Income from continuing operations - basic and diluted (in usd per share) $ 3.43 $ 4.04 $ 6.19 $ 8.28
Loss from discontinuing operations (see Note 8) - basic and diluted (in usd per share) 0.00 0.00 (4.65) 0.00
Net income per common share - basic and diluted (in usd per share) $ 3.43 $ 4.04 $ 1.54 $ 8.28
Weighted average shares outstanding - basic and diluted 5,116,657 5,115,320 5,116,321 5,115,012
Dividends per common share (in usd per share) $ 4.5 $ 4.25 $ 9 $ 8.5