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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES      
Property rentals $ 152,795 $ 152,857 $ 151,444
Expense reimbursements 80,030 77,717 75,492
Total revenues 232,825 230,574 226,936
EXPENSES      
Operating, including fees to Vornado of $4,700, $4,671 and $4,590, respectively 93,775 85,127 82,232
Depreciation and amortization 33,089 34,925 33,807
General and administrative, including management fees to Vornado of $2,380 in each year 5,339 5,252 5,436
Total expenses 132,203 125,304 121,475
OPERATING INCOME 100,622 105,270 105,461
Interest and other income, net 12,546 6,716 3,305
Interest and debt expense (44,533) (31,474) (22,241)
Change in fair value of marketable securities (see Note 5) (11,990) 0 0
Income before income taxes 56,645 80,512 86,525
Income tax expense (4) (3) (48)
Income from continuing operations 56,641 80,509 86,477
Loss from discontinued operations (see Note 6) (23,797) 0 0
Net income $ 32,844 $ 80,509 $ 86,477
Income from continuing operations - basic and diluted (in usd per share) $ 11.07 $ 15.74 $ 16.91
Loss from discontinued operations (see Note 6) - basic and diluted (in usd per share) (4.65) 0.00 0.00
Net income per common share - basic and diluted (in dollars per share) $ 6.42 $ 15.74 $ 16.91
Weighted average shares outstanding - basic and diluted (in shares) 5,116,838 5,115,501 5,114,084