XML 48 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Gross revenues:    
Rental $ 100,016us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 96,365us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Advisory and incentive fees 146us-gaap_ManagementFeesRevenue 122us-gaap_ManagementFeesRevenue
Tenant reimbursements 8,426us-gaap_TenantReimbursements 7,651us-gaap_TenantReimbursements
Total gross revenues 108,588us-gaap_RealEstateRevenueNet 104,138us-gaap_RealEstateRevenueNet
Expense applicable to revenues:    
Depreciation and amortization (40,274)us-gaap_DepreciationAndAmortization (37,947)us-gaap_DepreciationAndAmortization
Property operating (16,582)us-gaap_CostOfRealEstateRevenue (15,621)us-gaap_CostOfRealEstateRevenue
General and administrative (7,822)us-gaap_GeneralAndAdministrativeExpense (8,037)us-gaap_GeneralAndAdministrativeExpense
Non-operating income 2,468us-gaap_NonoperatingIncomeExpense 2,951us-gaap_NonoperatingIncomeExpense
Interest and amortization expense (23,003)us-gaap_InterestExpense (23,816)us-gaap_InterestExpense
Debt satisfaction gains (charges), net 10,375us-gaap_GainsLossesOnExtinguishmentOfDebt (3,304)us-gaap_GainsLossesOnExtinguishmentOfDebt
Impairment charges (1,139)us-gaap_AssetImpairmentCharges (16,400)us-gaap_AssetImpairmentCharges
Gain on sale of property 148us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes 0us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
Income before provision for income taxes, equity in earnings of non-consolidated entities and discontinued operations 32,759us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 1,964us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes (441)us-gaap_IncomeTaxExpenseBenefit (591)us-gaap_IncomeTaxExpenseBenefit
Equity in earnings of non-consolidated entities 366us-gaap_IncomeLossFromEquityMethodInvestments 281us-gaap_IncomeLossFromEquityMethodInvestments
Income from continuing operations 32,684us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 1,654us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:    
Income from discontinued operations 110us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax 2,487us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
Provision for income taxes 0us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation (18)us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation
Gain on sale of property 1,577us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Impairment charges 0lxp_DiscontinuedOperationAssetImpairmentCharges (2,309)lxp_DiscontinuedOperationAssetImpairmentCharges
Total discontinued operations 1,687us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 160us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income 34,371us-gaap_ProfitLoss 1,814us-gaap_ProfitLoss
Less net income attributable to noncontrolling interests (866)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (928)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to Lexington Realty Trust shareholders 33,505us-gaap_NetIncomeLoss 886us-gaap_NetIncomeLoss
Allocation to participating securities (104)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic (153)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
Net income (loss) attributable to common shareholders 31,829us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (839)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Income (loss) per common share – basic:    
Income (loss) from continuing operations (in USD per share) $ 0.13us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.00us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Income from discontinued operations (in USD per share) $ 0.01us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Net income (loss) attributable to common shareholders $ 0.14us-gaap_EarningsPerShareBasic $ 0.00us-gaap_EarningsPerShareBasic
Weighted-average common shares outstanding – basic 232,525,675us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 227,156,690us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Income (loss) per common share – diluted:    
Income (loss) from continuing operations (USD per share) $ 0.13us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.00us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Income from discontinued operations (USD per share) $ 0.01us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Net income (loss) attributable to common shareholders (USD per share) $ 0.14us-gaap_EarningsPerShareDiluted $ 0.00us-gaap_EarningsPerShareDiluted
Weighted-average common shares outstanding – diluted 232,957,265us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 227,156,690us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Amounts attributable to common shareholders:    
Income (loss) from continuing operations 30,142lxp_IncomeLossFromContinuingOperationsAttributableToCommonShareholders (980)lxp_IncomeLossFromContinuingOperationsAttributableToCommonShareholders
Income from discontinued operations 1,687lxp_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToCommonShareholders 141lxp_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToCommonShareholders
Net income (loss) attributable to common shareholders 31,829us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (839)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Series C [Member]    
Discontinued operations:    
Dividends attributable to preferred shares – Series C $ (1,572)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember
$ (1,572)us-gaap_DividendsPreferredStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember