XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Rental income $ 92,722 $ 125,459 $ 324,345 $ 457,128
Tenant reimbursements and other income 21,910 33,749 72,789 118,829
Total revenues 114,632 159,208 397,134 575,957
Expenses:        
Operating expenses 49,313 73,571 157,964 261,128
Depreciation and amortization 29,184 40,522 102,766 156,858
General and administrative 13,277 16,249 38,766 43,718
Loss on asset impairment 0 0 43,736 17,162
Total expenses 91,774 130,342 343,232 478,866
Operating income 22,858 28,866 53,902 97,091
Interest and other income 3,013 637 7,184 4,813
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $948, $171, $2,880 and $23, respectively) (21,427) (25,111) (65,074) (82,926)
(Loss) gain on early extinguishment of debt 0 (3,887) (118) 6,111
Foreign currency exchange loss 0 (9,809) (5) (8,953)
Gain on sale of properties 82,169 39,793 225,210 42,953
Income before income taxes 86,613 30,489 221,099 59,089
Income tax expense (225) (23) (465) (2,377)
Net income 86,388 30,466 220,634 56,712
Preferred distributions (1,997) (6,981) (15,959) (20,943)
Excess fair value of consideration paid over carrying value of preferred shares 0 0 (9,609) 0
Net income attributable to Equity Commonwealth common shareholders $ 84,391 $ 23,485 $ 195,066 $ 35,769
Weighted average common shares outstanding — basic (in shares) 125,533 128,739 125,627 129,386
Weighted average common shares outstanding — diluted (in shares) 126,568 129,878 127,009 130,093
Earnings per common share attributable to Equity Commonwealth common shareholders:        
Basic (in USD per share) $ 0.67 $ 0.18 $ 1.55 $ 0.28
Diluted (in USD per share) $ 0.67 $ 0.18 $ 1.54 $ 0.27