XML 34 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES        
Rental revenues $ 57,760 $ 59,125 $ 170,470 $ 175,258
EXPENSES        
Operating, including fees to Vornado of $1,310, $1,158, $3,930 and $3,433, respectively (23,389) (26,419) (66,905) (70,207)
Depreciation and amortization (7,831) (8,225) (23,528) (25,208)
General and administrative, including management fees to Vornado of $595 and $1,785 in each three and nine month period, respectively (1,333) (1,126) (4,471) (4,078)
Total expenses (32,553) (35,770) (94,904) (99,493)
Interest and other income, net 2,075 3,813 6,428 8,581
Interest and debt expense (9,772) (11,341) (30,096) (32,115)
Change in fair value of marketable securities (1,017) (824) (6,257) (5,561)
Income from continuing operations 16,493 15,003 45,641 46,670
Loss from discontinued operations (see Note 7) 0 0 0 (23,797)
Net income $ 16,493 $ 15,003 $ 45,641 $ 22,873
Income per common share – basic and diluted:        
Income from continuing operations - basic and diluted (in usd per share) $ 3.22 $ 2.93 $ 8.92 $ 9.12
Loss from discontinuing operations (see Note 7) - basic and diluted (in usd per share) 0 0 0 (4.65)
Net income per common share - basic and diluted (in usd per share) $ 3.22 $ 2.93 $ 8.92 $ 4.47
Weighted average shares outstanding - basic and diluted (in shares) 5,118,698 5,117,347 5,118,030 5,116,667