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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Gross revenues:      
Rental $ 392,480us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 335,721us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 272,343us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Advisory and incentive fees 554us-gaap_ManagementFeesRevenue 855us-gaap_ManagementFeesRevenue 1,806us-gaap_ManagementFeesRevenue
Tenant reimbursements 31,338us-gaap_TenantReimbursements 25,334us-gaap_TenantReimbursements 22,859us-gaap_TenantReimbursements
Total gross revenues 424,372us-gaap_RealEstateRevenueNet 361,910us-gaap_RealEstateRevenueNet 297,008us-gaap_RealEstateRevenueNet
Expense applicable to revenues:      
Depreciation and amortization (154,837)us-gaap_DepreciationAndAmortization (157,901)us-gaap_DepreciationAndAmortization (134,915)us-gaap_DepreciationAndAmortization
Property operating (63,673)us-gaap_CostOfRealEstateRevenue (54,757)us-gaap_CostOfRealEstateRevenue (48,757)us-gaap_CostOfRealEstateRevenue
General and administrative (28,255)us-gaap_GeneralAndAdministrativeExpense (28,426)us-gaap_GeneralAndAdministrativeExpense (23,689)us-gaap_GeneralAndAdministrativeExpense
Non-operating income 13,951us-gaap_NonoperatingIncomeExpense 8,305us-gaap_NonoperatingIncomeExpense 6,736us-gaap_NonoperatingIncomeExpense
Interest and amortization expense (97,303)us-gaap_InterestExpense (85,892)us-gaap_InterestExpense (84,250)us-gaap_InterestExpense
Gains on sales of financial assets, net 855us-gaap_GainLossOnSaleOfCapitalLeasesNet 0us-gaap_GainLossOnSaleOfCapitalLeasesNet 0us-gaap_GainLossOnSaleOfCapitalLeasesNet
Debt satisfaction charges, net (9,452)lxp_GainsLossesOnExtinguishmentOfDebtFromContinuingOperationsNet (25,347)lxp_GainsLossesOnExtinguishmentOfDebtFromContinuingOperationsNet (9,452)lxp_GainsLossesOnExtinguishmentOfDebtFromContinuingOperationsNet
Gain on acquisition 0lxp_GainLossOnAcquisitionOfRealEstate 0lxp_GainLossOnAcquisitionOfRealEstate 167,864lxp_GainLossOnAcquisitionOfRealEstate
Litigation reserve 0us-gaap_GainLossRelatedToLitigationSettlement 0us-gaap_GainLossRelatedToLitigationSettlement (2,775)us-gaap_GainLossRelatedToLitigationSettlement
Impairment charges and loan losses (37,333)lxp_ImpairmentChargesAndLoanLosses (35,579)lxp_ImpairmentChargesAndLoanLosses (4,262)lxp_ImpairmentChargesAndLoanLosses
Income (loss) before provision for income taxes, equity in earnings (losses) of non-consolidated entities and discontinued operations 48,325us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (17,687)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 163,508us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes (1,109)us-gaap_IncomeTaxExpenseBenefit (3,177)us-gaap_IncomeTaxExpenseBenefit (866)us-gaap_IncomeTaxExpenseBenefit
Equity in earnings (losses) of non-consolidated entities 626us-gaap_IncomeLossFromEquityMethodInvestments (157)us-gaap_IncomeLossFromEquityMethodInvestments 21,531us-gaap_IncomeLossFromEquityMethodInvestments
Income (loss) from continuing operations 47,842us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (21,021)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 184,173us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:      
Income (loss) from discontinued operations 6,252us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax 6,244us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax (6,676)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
Provision for income taxes (59)us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation (1,817)us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation (237)us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation
Debt satisfaction gains (charges), net (312)lxp_DiscontinuedOperationsGainLossOnDebtExtinguishmentNet 8,905lxp_DiscontinuedOperationsGainLossOnDebtExtinguishmentNet (206)lxp_DiscontinuedOperationsGainLossOnDebtExtinguishmentNet
Gains on sales of properties 57,507us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 24,472us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 13,291us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Impairment charges (13,767)lxp_DiscontinuedOperationAssetImpairmentCharges (12,920)lxp_DiscontinuedOperationAssetImpairmentCharges (5,707)lxp_DiscontinuedOperationAssetImpairmentCharges
Total discontinued operations 49,621us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 24,884us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 465us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income 97,463us-gaap_ProfitLoss 3,863us-gaap_ProfitLoss 184,638us-gaap_ProfitLoss
Less net income attributable to noncontrolling interests (4,359)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (2,233)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,322)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to Lexington Realty Trust shareholders 93,104us-gaap_NetIncomeLoss 1,630us-gaap_NetIncomeLoss 180,316us-gaap_NetIncomeLoss
Allocation to participating securities (490)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic (656)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic (1,097)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
Net income (loss) attributable to common shareholders 86,324us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (14,089)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 156,811us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Income (loss) per common share – basic:      
Income (loss) from continuing operations, basic (usd per share) $ 0.17us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ (0.18)us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.99us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Income (loss) from discontinued operations, basic (usd per share) $ 0.21us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.11us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Net income (loss) attributable to common shareholders, basic (usd per share) $ 0.38us-gaap_EarningsPerShareBasic $ (0.07)us-gaap_EarningsPerShareBasic $ 0.99us-gaap_EarningsPerShareBasic
Weighted-average common shares outstanding – basic 228,966,253us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 209,797,238us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 159,109,424us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Income (loss) per common share – diluted:      
Income (loss) from continuing operations, diluted (usd per share) $ 0.17us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ (0.18)us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.94us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Income (loss) from discontinued operations, diluted (usd per share) $ 0.21us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.11us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ (0.01)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Net income (loss) attributable to common shareholders, diluted (usd per share) $ 0.38us-gaap_EarningsPerShareDiluted $ (0.07)us-gaap_EarningsPerShareDiluted $ 0.93us-gaap_EarningsPerShareDiluted
Weighted-average common shares outstanding – diluted 229,436,708us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 209,797,238us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 179,659,826us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Amounts attributable to common shareholders:      
Income (loss) from continuing operations 37,652lxp_IncomeLossFromContinuingOperationsAttributableToCommonShareholders (38,506)lxp_IncomeLossFromContinuingOperationsAttributableToCommonShareholders 157,974lxp_IncomeLossFromContinuingOperationsAttributableToCommonShareholders
Income (loss) from discontinued operations 48,672lxp_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToCommonShareholders 24,417lxp_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToCommonShareholders (1,163)lxp_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToCommonShareholders
Net income (loss) attributable to common shareholders 86,324us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (14,089)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 156,811us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Series B [Member]      
Discontinued operations:      
Dividends attributable to preferred shares 0us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesBPreferredStockMember
0us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesBPreferredStockMember
(2,298)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesBPreferredStockMember
Deemed dividend 0us-gaap_PreferredStockRedemptionPremium
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesBPreferredStockMember
0us-gaap_PreferredStockRedemptionPremium
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesBPreferredStockMember
[1] (2,346)us-gaap_PreferredStockRedemptionPremium
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesBPreferredStockMember
[1]
Series C [Member]      
Discontinued operations:      
Dividends attributable to preferred shares (6,290)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
(6,290)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
(6,290)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
Redemption discount – Series C 0us-gaap_PreferredStockRedemptionDiscount
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
0us-gaap_PreferredStockRedemptionDiscount
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
[1] 229us-gaap_PreferredStockRedemptionDiscount
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
[1]
Series D [Member]      
Discontinued operations:      
Dividends attributable to preferred shares 0us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesDPreferredStockMember
(3,543)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesDPreferredStockMember
(11,703)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesDPreferredStockMember
Deemed dividend $ 0us-gaap_PreferredStockRedemptionPremium
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesDPreferredStockMember
$ (5,230)us-gaap_PreferredStockRedemptionPremium
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesDPreferredStockMember
[1] $ 0us-gaap_PreferredStockRedemptionPremium
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesDPreferredStockMember
[1]
[1] Represents the difference between the redemption/repurchase cost and historical GAAP cost. Accordingly, net income (loss) was adjusted for the deemed dividends/deemed negative dividends to arrive at net income (loss) attributable to common shareholders.