XML 46 R35.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Information (Tables)
3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Schedule of Property Level Information by Operating Segment
Property level information by operating segment as of March 31, 2015, and for the three months ended March 31, 2015 and 2014, is as follows (in thousands):
 
As of March 31,
 
2015
 
2014
Square feet:
 
 
 
CBD properties
21,893

 
21,889

Suburban properties
20,859

 
21,024

Total properties(1)
42,752

 
42,913

 (1) Square footage of properties owned as of the respective dates and excludes properties held for sale as of March 31, 2014.
 
Three Months Ended March 31,
 
2015
 
2014
Rental income:
 
 
 
CBD properties
$
109,843

 
$
110,239

Suburban properties
58,129

 
61,801

Total properties
$
167,972

 
$
172,040

 
 
 
 
Tenant reimbursements and other income:
 
 
 
CBD properties
$
29,697

 
$
30,241

Suburban properties
15,386

 
14,979

Total properties
$
45,083

 
$
45,220

 
 
 
 
NOI:
 
 
 
CBD properties
$
73,947

 
$
73,170

Suburban properties
41,237

 
42,359

Total properties
$
115,184

 
$
115,529

Schedule of Reconciliation of NOI to Net Income
A reconciliation of NOI to net income for the three months ended March 31, 2015 and 2014, is as follows (in thousands):
 
Three Months Ended March 31,
 
2015
 
2014
Rental income
$
167,972

 
$
172,040

Tenant reimbursements and other income
45,083

 
45,220

Operating expenses
(97,871
)
 
(101,731
)
NOI
$
115,184

 
$
115,529

 
 
 
 
NOI
$
115,184

 
$
115,529

Depreciation and amortization
(62,699
)
 
(51,649
)
General and administrative
(16,558
)
 
(24,848
)
Loss (reversal of loss) on asset impairment
(1,904
)
 
4,761

Acquisition related costs

 
(5
)
Operating income
34,023

 
43,788

 
 
 
 
Interest and other income
3,448

 
384

Interest expense
(29,842
)
 
(37,935
)
Loss on early extinguishment of debt
(428
)
 

Gain on issuance of shares by an equity investee

 
109

Gain on sale of properties
5,868

 

Income from continuing operations before income taxes and equity in earnings of investees
13,069

 
6,346

Income tax benefit (expense)
561

 
(555
)
Equity in earnings of investees

 
10,934

Income from continuing operations
13,630

 
16,725

Income from discontinued operations

 
4,011

Loss on asset impairment from discontinued operations

 
(288
)
Net income
$
13,630

 
$
20,448