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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Rental revenue   $ 184,368,000 $ 324,415,000
Rental revenue $ 116,869,000    
Other revenue 10,981,000 12,654,000 16,156,000
Revenues, Total 127,850,000 197,022,000 340,571,000
Expenses:      
Operating expenses 46,418,000 79,916,000 141,425,000
Depreciation and amortization 28,122,000 49,041,000 90,708,000
General and administrative 38,442,000 44,439,000 47,760,000
Loss on asset impairment 0 12,087,000 19,714,000
Total expenses 112,982,000 185,483,000 299,607,000
Interest and other income, net 72,392,000 46,815,000 26,380,000
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $204, $2,553 and $3,135, respectively) (8,908,000) (26,585,000) (52,183,000)
Loss on early extinguishment of debt (6,374,000) (7,122,000) (493,000)
Gain on sale of properties, net 422,172,000 251,417,000 15,498,000
Income before income taxes 494,150,000 276,064,000 30,166,000
Income tax expense (1,284,000) (3,156,000) (500,000)
Net income 492,866,000 272,908,000 29,666,000
Net income attributable to noncontrolling interest (186,000) (95,000) (10,000)
Net income attributable to Equity Commonwealth 492,680,000 272,813,000 29,656,000
Preferred distributions (7,988,000) (7,988,000) (7,988,000)
Net income attributable to Equity Commonwealth common shareholders $ 484,692,000 $ 264,825,000 $ 21,668,000
Weighted average common shares outstanding — basic (in shares) 122,091 122,314 124,125
Weighted average common shares outstanding — diluted (in shares) 126,260 123,385 125,129
Earnings per common share attributable to Equity Commonwealth common shareholders:      
Basic (in dollars per share) $ 3.97 $ 2.17 $ 0.17
Diluted (in dollars per share) $ 3.90 $ 2.15 $ 0.17