XML 26 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Rental and related revenue $ 1,025,663 $ 929,194 $ 855,833
General contractor and service fee revenue 80,260 64,004 117,926
Revenues, Total 1,105,923 993,198 973,759
Expenses:      
Rental expenses 85,782 76,639 75,584
Real estate taxes 159,580 149,295 129,520
General contractor and other services expenses 68,118 57,976 111,566
Depreciation and amortization 362,148 353,013 327,223
Costs and expenses, total 675,628 636,923 643,893
Other Operating Activities      
Equity in earnings of unconsolidated joint ventures 32,804 11,944 31,406
Gain on sale of properties 585,685 127,700 234,653
Gain on land sales 12,917 10,458 7,445
Other operating expenses (3,607) (8,209) (5,318)
Impairment charges 0 (5,626) 0
Non-incremental costs related to successful leases (13,302) (12,292) (12,402)
General and administrative expenses (69,554) (62,404) (60,889)
Other operating activities, net 544,943 61,571 194,895
Operating income 975,238 417,846 524,761
Other income (expenses):      
Interest and other income, net 4,451 1,721 9,941
Interest expense (84,843) (93,442) (89,756)
Loss on debt extinguishment (17,901) (32,900) (6,320)
Gain on involuntary conversion 3,222 4,312 2,259
Income from continuing operations before income taxes 880,167 297,537 440,885
Income tax (expense) benefit (18,549) 5,112 (8,686)
Income from continuing operations 861,618 302,649 432,199
Discontinued operations:      
Gain on sale of properties 0 111 445
Income from discontinued operations 0 111 445
Net income 861,618 302,760 432,644
Net income attributable to noncontrolling interests (8,723) (2,845) (3,672)
Net income attributable to common shareholders $ 852,895 $ 299,915 $ 428,972
Basic net income per common share:      
Continuing operations attributable to common shareholders/unitholders $ 2.25 $ 0.81 $ 1.18
Total 2.25 0.81 1.18
Diluted net income per common share:      
Continuing operations attributable to common shareholders/unitholders 2.25 0.80 1.18
Total $ 2.25 $ 0.80 $ 1.18
Weighted average number of common shares/units outstanding 377,673 370,057 362,234
Weighted average number of common shares/units and potential dilutive securities 383,476 374,156 367,339
Comprehensive Income (Loss) [Abstract]      
Net income $ 861,618 $ 302,760 $ 432,644
Other comprehensive income (loss):      
Unrealized losses on interest rate swap contracts 0 0 (30,893)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 3,557 3,468 533
Total other comprehensive income (loss) 3,557 3,468 (30,360)
Comprehensive income 865,175 306,228 402,284
Duke Realty Limited Partnership [Member]      
Revenues:      
Rental and related revenue 1,025,663 929,194 855,833
General contractor and service fee revenue 80,260 64,004 117,926
Revenues, Total 1,105,923 993,198 973,759
Expenses:      
Rental expenses 85,782 76,639 75,584
Real estate taxes 159,580 149,295 129,520
General contractor and other services expenses 68,118 57,976 111,566
Depreciation and amortization 362,148 353,013 327,223
Costs and expenses, total 675,628 636,923 643,893
Other Operating Activities      
Equity in earnings of unconsolidated joint ventures 32,804 11,944 31,406
Gain on sale of properties 585,685 127,700 234,653
Gain on land sales 12,917 10,458 7,445
Other operating expenses (3,607) (8,209) (5,318)
Impairment charges 0 (5,626) 0
Non-incremental costs related to successful leases (13,302) (12,292) (12,402)
General and administrative expenses (69,554) (62,404) (60,889)
Other operating activities, net 544,943 61,571 194,895
Operating income 975,238 417,846 524,761
Other income (expenses):      
Interest and other income, net 4,451 1,721 9,941
Interest expense (84,843) (93,442) (89,756)
Loss on debt extinguishment (17,901) (32,900) (6,320)
Gain on involuntary conversion 3,222 4,312 2,259
Income from continuing operations before income taxes 880,167 297,537 440,885
Income tax (expense) benefit (18,549) 5,112 (8,686)
Income from continuing operations 861,618 302,649 432,199
Discontinued operations:      
Gain on sale of properties 0 111 445
Income from discontinued operations 0 111 445
Net income 861,618 302,760 432,644
Net (income) loss attributable to noncontrolling interests (369) (182) 6
Net income attributable to common shareholders $ 861,249 $ 302,578 $ 432,650
Basic net income per common share:      
Continuing operations attributable to common shareholders/unitholders $ 2.25 $ 0.81 $ 1.18
Total 2.25 0.81 1.18
Diluted net income per common share:      
Continuing operations attributable to common shareholders/unitholders 2.25 0.80 1.18
Total $ 2.25 $ 0.80 $ 1.18
Weighted average number of common shares/units outstanding 381,381 373,360 365,352
Weighted average number of common shares/units and potential dilutive securities 383,476 374,156 367,339
Comprehensive Income (Loss) [Abstract]      
Net income $ 861,618 $ 302,760 $ 432,644
Other comprehensive income (loss):      
Unrealized losses on interest rate swap contracts 0 0 (30,893)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 3,557 3,468 533
Total other comprehensive income (loss) 3,557 3,468 (30,360)
Comprehensive income $ 865,175 $ 306,228 $ 402,284