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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Rental income $ 144,425 $ 270,320 $ 409,071
Total revenues 197,022 340,571 500,680
Expenses:      
Operating expenses 79,916 141,425 200,706
Depreciation and amortization 49,041 90,708 131,806
General and administrative 44,439 47,760 50,256
Loss on asset impairment 12,087 19,714 58,476
Total expenses 185,483 299,607 441,244
Operating income 11,539 40,964 59,436
Interest and other income, net 46,815 26,380 10,331
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $2,553, $3,135, and $3,725, respectively) (26,585) (52,183) (84,329)
Loss on early extinguishment of debt (7,122) (493) (2,680)
Foreign currency exchange loss 0 0 (5)
Gain on sale of properties, net 251,417 15,498 250,886
Income before income taxes 276,064 30,166 233,639
Income tax expense (3,156) (500) (745)
Net income 272,908 29,666 232,894
Net income attributable to noncontrolling interest (95) (10) 0
Net income attributable to Equity Commonwealth 272,813 29,656 232,894
Preferred distributions (7,988) (7,988) (17,956)
Excess fair value of consideration paid over carrying value of preferred shares 0 0 (9,609)
Net income attributable to Equity Commonwealth common shareholders $ 264,825 $ 21,668 $ 205,329
Weighted average common shares outstanding — basic (in shares) 122,314 124,125 125,474
Weighted average common shares outstanding — diluted (in shares) 123,385 125,129 126,768
Earnings per common share attributable to Equity Commonwealth common shareholders:      
Basic (in dollars per share) $ 2.17 $ 0.17 $ 1.64
Diluted (in dollars per share) $ 2.15 $ 0.17 $ 1.62
Tenant reimbursements and other income      
Revenues:      
Revenues $ 52,597 $ 70,251 $ 91,609