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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Rental income $ 39,784 $ 36,112 $ 77,971 $ 69,930
Interest income 3,985 3,049 7,393 6,213
Expense reimbursements 7,825 7,832 17,891 16,622
Other 1,567 2,518 2,387 3,431
Total revenues 53,161 49,511 105,642 96,196
Operating Expenses        
Property operating 6,196 5,737 13,927 12,861
Other operating 599 908 2,719 1,595
Real estate taxes 6,419 5,569 12,711 11,239
General and administrative 8,005 6,879 15,537 13,775
Depreciation and amortization 13,903 11,584 27,561 23,171
Total operating expenses 40,122 30,677 77,455 62,641
Operating income 13,039 18,834 28,187 33,555
Equity in earnings of unconsolidated affiliates 3,406 1,430 9,999 4,459
Gain on disposition of property of unconsolidated affiliates 17,105 0 17,105 0
Loss on debt extinguishment (25) (66) (134) (269)
Impairment of asset (5,000) 0 (5,000) 0
Gain on disposition of properties 61,841 561 88,984 12,948
Interest and other finance expense (9,964) (9,534) (18,785) (20,185)
Income from continuing operations before income tax benefit (provision) 85,402 11,225 125,356 30,508
Income tax benefit (provision) 56 83 (1,361) (85)
Income from continuing operations 85,458 11,308 123,995 30,423
Discontinued Operations        
Gain on disposition of property 0 560 0 560
Income from discontinued operations 0 560 0 560
Net income 85,458 11,868 123,995 30,983
Continuing operations (58,963) 57 (80,953) 2,537
Discontinued operations 0 (461) 0 (461)
Net (income) loss attributable to noncontrolling interests (58,963) (404) (80,953) 2,076
Net income attributable to Common Shareholders $ 26,495 $ 11,464 $ 43,042 $ 33,059
Basic and diluted earnings per share $ 0.38 $ 0.19 $ 0.62 $ 0.57