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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Rental revenue $ 62,134,000 $ 116,869,000 $ 184,368,000
Other revenue 4,144,000 10,981,000 12,654,000
Revenues, Total 66,278,000 127,850,000 197,022,000
Expenses:      
Operating expenses 28,858,000 46,418,000 79,916,000
Depreciation and amortization 19,329,000 28,122,000 49,041,000
General and administrative 33,233,000 38,442,000 44,439,000
Loss on asset impairment 0 0 12,087,000
Total expenses 81,420,000 112,982,000 185,483,000
Interest and other income, net 21,228,000 72,392,000 46,815,000
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $(119), $204 and $2,553, respectively) (620,000) (8,908,000) (26,585,000)
Gain (loss) on early extinguishment of debt 131,000 (6,374,000) (7,122,000)
Gain on sale of properties, net 446,744,000 422,172,000 251,417,000
Income before income taxes 452,341,000 494,150,000 276,064,000
Income tax expense (248,000) (1,284,000) (3,156,000)
Net income 452,093,000 492,866,000 272,908,000
Net income attributable to noncontrolling interest (799,000) (186,000) (95,000)
Net income attributable to Equity Commonwealth 451,294,000 492,680,000 272,813,000
Preferred distributions (7,988,000) (7,988,000) (7,988,000)
Net income attributable to Equity Commonwealth common shareholders $ 443,306,000 $ 484,692,000 $ 264,825,000
Weighted average common shares outstanding — basic (in shares) 121,786 122,091 122,314
Weighted average common shares outstanding — diluted (in shares) 126,606 126,260 123,385
Earnings per common share attributable to Equity Commonwealth common shareholders:      
Basic (in dollars per share) $ 3.64 $ 3.97 $ 2.17
Diluted (in dollars per share) $ 3.56 $ 3.90 $ 2.15