XML 99 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Information  
Schedule of property level information by geographic region and property type, property square feet

 

 

 
   As of December 31,  
 
   2013   2012  

Square feet (in thousands):

              

CBD properties

     20,975     21,224  

Suburban properties

     16,298     40,582  
           
​ ​ ​ ​ ​ ​ ​ ​

Total properties

     37,273     61,806  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           


 

 
   Year Ended December 31,  
 
   2013   2012   2011  

Rental income:

                    

CBD properties

   $ 432,812   $ 408,144   $ 320,564  

Suburban properties

     274,568     301,246     281,068  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total properties

   $ 707,380   $ 709,390   $ 601,632  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Tenant reimbursements and other income:

                    

CBD properties

   $ 118,314   $ 112,083   $ 79,277  

Suburban properties

     59,842     60,432     60,435  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total properties

   $ 178,156   $ 172,515   $ 139,712  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

NOI:

                    

CBD properties

   $ 291,544   $ 280,036   $ 221,737  

Suburban properties

     223,123     245,265     222,199  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total properties

   $ 514,667   $ 525,301   $ 443,936  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
Schedule of reconciliation of NOI to net income

 

 

 
   Year Ended December 31,  
 
   2013   2012   2011  

Rental income

   $ 707,380   $ 709,390   $ 601,632  

Tenant reimbursements and other income

     178,156     172,515     139,712  

Operating expenses

     (370,869 )   (356,604 )   (297,408 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

NOI

   $ 514,667   $ 525,301   $ 443,936  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

NOI

   $ 514,667   $ 525,301   $ 443,936  

Depreciation and amortization

     (218,854 )   (209,759 )   (171,662 )

General and administrative

     (77,209 )   (46,057 )   (38,221 )

Loss on asset impairment

     —     —     (3,036 )

Acquisition related costs

     (318 )   (5,648 )   (9,731 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating income

     218,286     263,837     221,286  

Interest and other income

     1,229     1,404     1,662  

Interest expense

     (173,011 )   (201,840 )   (191,876 )

Loss on early extinguishment of debt

     (60,052 )   (287 )   (35 )

Gain on sale of equity investment

     66,293     —     —  

Gain on issuance of shares by an equity investee

     —     7,246     11,177  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations before income tax expense and equity in earnings of investees

     52,745     70,360     42,214  

Income tax expense

     (2,634 )   (3,207 )   (1,347 )

Equity in earnings of investees

     25,754     11,420     11,377  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations

     75,865     78,573     52,244  

Income from discontinued operations

     15,867     9,783     22,307  

Loss on asset impairment from discontinued operations

     (227,122 )   (168,632 )   (7,319 )

Loss on early extinguishment of debt from discontinued operations

     (1,011 )   (1,608 )   —  

Net (loss) gain on sale of properties from discontinued operations

     (22,162 )   2,039     42,752  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

(Loss) income before gain on sale of properties

     (158,563 )   (79,845 )   109,984  

Gain on sale of properties

     1,596     —     —  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net (loss) income

   $ (156,967 ) $ (79,845 ) $ 109,984  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​