XML 59 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2014
Dec. 31, 2013
Real estate, at cost:    
Real estate, at cost $ 3,671,560,000us-gaap_RealEstateInvestmentPropertyAtCost $ 3,812,294,000us-gaap_RealEstateInvestmentPropertyAtCost
Real estate - intangible assets 705,566,000us-gaap_FiniteLivedIntangibleAssetsGross 762,157,000us-gaap_FiniteLivedIntangibleAssetsGross
Investments in real estate under construction 106,238,000us-gaap_ConstructionInProgressGross 74,350,000us-gaap_ConstructionInProgressGross
Real estate, gross 4,483,364,000lxp_RealEstateInvestmentPropertyFiniteLivedIntangibleAssetsAndConstructionInProgressGross 4,648,801,000lxp_RealEstateInvestmentPropertyFiniteLivedIntangibleAssetsAndConstructionInProgressGross
Less: accumulated depreciation and amortization 1,196,114,000us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation [1] 1,223,381,000us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation [1]
Real estate, net 3,287,250,000lxp_RealEstateInvestmentPropertyFiniteLivedIntangibleAssetsAndConstructionInProgressNet 3,425,420,000lxp_RealEstateInvestmentPropertyFiniteLivedIntangibleAssetsAndConstructionInProgressNet
Assets held for sale 3,379,000us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation 0us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation
Cash and cash equivalents 191,077,000us-gaap_CashAndCashEquivalentsAtCarryingValue 77,261,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 17,379,000us-gaap_RestrictedCashAndCashEquivalents 19,953,000us-gaap_RestrictedCashAndCashEquivalents
Investment in and advances to non-consolidated entities 19,402,000us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures 18,442,000us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
Deferred expenses (net of accumulated amortization of $34,087 in 2014 and $28,587 in 2013) 65,860,000us-gaap_DeferredCosts 66,827,000us-gaap_DeferredCosts
Loans receivable, net 105,635,000us-gaap_NotesReceivableNet 99,443,000us-gaap_NotesReceivableNet
Rent receivable - current 6,311,000us-gaap_AccountsReceivableNet 10,087,000us-gaap_AccountsReceivableNet
Rent receivable – deferred 61,372,000us-gaap_DeferredRentReceivablesNet 19,473,000us-gaap_DeferredRentReceivablesNet
Other assets 20,229,000us-gaap_OtherAssets 35,375,000us-gaap_OtherAssets
Total assets 3,777,894,000us-gaap_Assets 3,772,281,000us-gaap_Assets
Liabilities:    
Mortgages and notes payable 945,216,000us-gaap_NotesPayable 1,197,489,000us-gaap_NotesPayable
Credit facility borrowings 0us-gaap_LineOfCredit 48,000,000us-gaap_LineOfCredit
Term loans payable 505,000,000us-gaap_LoansPayable 406,000,000us-gaap_LoansPayable
Senior notes payable 497,675,000us-gaap_SeniorNotes 247,707,000us-gaap_SeniorNotes
Convertible notes payable 15,664,000us-gaap_ConvertibleDebt 27,491,000us-gaap_ConvertibleDebt
Trust preferred securities 129,120,000us-gaap_UnsecuredDebt 129,120,000us-gaap_UnsecuredDebt
Dividends payable 42,864,000us-gaap_DividendsPayableCurrentAndNoncurrent 40,018,000us-gaap_DividendsPayableCurrentAndNoncurrent
Liabilities held for sale 2,843,000us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation 0us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
Accounts payable and other liabilities 37,740,000us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 39,642,000us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Accrued interest payable 8,301,000us-gaap_InterestPayableCurrentAndNoncurrent 9,627,000us-gaap_InterestPayableCurrentAndNoncurrent
Deferred revenue - including below market leases (net of accumulated accretion of $35,239 in 2014 and $40,740 in 2013) 68,215,000us-gaap_OffMarketLeaseUnfavorable 69,667,000us-gaap_OffMarketLeaseUnfavorable
Prepaid rent 16,336,000us-gaap_DeferredRevenueLeasesNet 18,037,000us-gaap_DeferredRevenueLeasesNet
Total liabilities 2,268,974,000us-gaap_Liabilities 2,232,798,000us-gaap_Liabilities
Commitments and contingencies      
Equity:    
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 233,278,037 and 228,663,022 shares issued and outstanding in 2014 and 2013, respectively 23,000us-gaap_CommonStockValue 23,000us-gaap_CommonStockValue
Additional paid-in-capital 2,763,374,000us-gaap_AdditionalPaidInCapital 2,717,787,000us-gaap_AdditionalPaidInCapital
Accumulated distributions in excess of net income (1,372,051,000)us-gaap_AccumulatedDistributionsInExcessOfNetIncome (1,300,527,000)us-gaap_AccumulatedDistributionsInExcessOfNetIncome
Accumulated other comprehensive income 404,000us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 4,439,000us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total shareholders’ equity 1,485,766,000us-gaap_StockholdersEquity 1,515,738,000us-gaap_StockholdersEquity
Noncontrolling interests 23,154,000us-gaap_MinorityInterest 23,745,000us-gaap_MinorityInterest
Total equity 1,508,920,000us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,539,483,000us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilities and equity 3,777,894,000us-gaap_LiabilitiesAndStockholdersEquity 3,772,281,000us-gaap_LiabilitiesAndStockholdersEquity
Series C [Member] | Convertible Preferred Stock [Member]    
Equity:    
Series C Cumulative Convertible Preferred, liquidation preference $96,770 and 1,935,400 shares issued and outstanding $ 94,016,000us-gaap_PreferredStockValue
/ lxp_PreferredStockTypeAxis
= us-gaap_ConvertiblePreferredStockMember
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
$ 94,016,000us-gaap_PreferredStockValue
/ lxp_PreferredStockTypeAxis
= us-gaap_ConvertiblePreferredStockMember
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
[1] Includes accumulated amortization of real estate intangible assets of $400,628 and $447,764 in 2014 and 2013, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $35,894 in 2015, $30,221 in 2016, $26,905 in 2017, $23,179 in 2018 and $18,014 in 2019.