XML 19 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Gross revenues:        
Rental $ 101,647 $ 102,440 $ 205,206 $ 202,456
Tenant reimbursements 7,930 7,893 15,987 16,319
Total gross revenues 109,577 110,333 221,193 218,775
Expense applicable to revenues:        
Depreciation and amortization (41,272) (41,808) (84,399) (82,083)
Property operating (11,293) (15,534) (23,371) (32,116)
General and administrative (7,747) (7,971) (15,522) (15,792)
Non-operating income 3,553 3,084 6,420 5,698
Interest and amortization expense (22,679) (23,339) (45,572) (46,342)
Debt satisfaction gains (charges), net (3,194) 3,776 (3,356) 14,151
Impairment charges (3,014) (113) (3,014) (1,252)
Gains on sales of properties 25,326 21,426 42,341 21,574
Income before benefit (provision) for income taxes, equity in earnings of non-consolidated entities and discontinued operations 49,257 49,854 94,720 82,613
Benefit (provision) for income taxes (224) 52 (637) (389)
Equity in earnings of non-consolidated entities 312 306 6,054 672
Income from continuing operations 49,345 50,212 100,137 82,896
Discontinued operations:        
Income (loss) from discontinued operations 0 (1) 0 109
Provision for income taxes 0 (4) 0 (4)
Gain on sale of property 0 0 0 1,577
Total discontinued operations 0 (5) 0 1,682
Net income 49,345 50,207 100,137 84,578
Less net income attributable to noncontrolling interests (869) (875) (1,892) (1,741)
Net income attributable to Lexington Realty Trust shareholders 48,476 49,332 98,245 82,837
Allocation to participating securities (73) (105) (163) (192)
Net income attributable to common shareholders $ 46,830 $ 47,654 $ 94,937 $ 79,500
Income per common share – basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.20 $ 0.20 $ 0.41 $ 0.33
Income (loss) from discontinued operations (in dollars per share) 0.00 0.00 0.00 0.01
Net income (loss) attributable to common shareholders (in dollars per share) $ 0.20 $ 0.20 $ 0.41 $ 0.34
Weighted-average common shares outstanding – basic (in shares) 232,592,998 233,812,062 232,617,901 233,172,422
Income per common share – diluted:        
Income from continuing operations (in dollars per share) $ 0.20 $ 0.20 $ 0.41 $ 0.33
Income (loss) from discontinued operations (in dollars per share) 0.00 0.00 0.00 0.01
Net income (loss) attributable to common shareholders (in dollars per share) $ 0.20 $ 0.20 $ 0.41 $ 0.34
Weighted-average common shares outstanding – diluted (in shares) 239,046,004 239,903,370 238,970,754 239,559,842
Amounts attributable to common shareholders:        
Income from continuing operations $ 46,830 $ 47,659 $ 94,937 $ 77,818
Income (loss) from discontinued operations 0 (5) 0 1,682
Net income attributable to common shareholders 46,830 47,654 94,937 79,500
Series C [Member]        
Discontinued operations:        
Dividends attributable to preferred shares – Series C (1,573) (1,573) (3,145) (3,145)
LCIF [Member]        
Gross revenues:        
Rental 31,222 29,771 63,156 59,251
Tenant reimbursements 2,215 2,530 4,720 5,009
Total gross revenues 33,437 32,301 67,876 64,260
Expense applicable to revenues:        
Depreciation and amortization (8,171) (7,306) (17,609) (14,539)
Property operating (3,482) (4,216) (7,685) (8,168)
General and administrative (2,414) (2,345) (4,487) (4,363)
Non-operating income 255 23 255 37
Interest and amortization expense (7,928) (7,317) (16,267) (14,718)
Debt satisfaction gains (charges), net (1,615) 0 (1,615) (33)
Impairment charges (2,426) 0 (2,426) 0
Gains on sales of properties 8,190 0 16,029 0
Income before benefit (provision) for income taxes, equity in earnings of non-consolidated entities and discontinued operations 15,846 11,140 34,071 22,476
Benefit (provision) for income taxes (6) (11) (25) (33)
Equity in earnings of non-consolidated entities 67 34 203 76
Income from continuing operations $ 15,907 $ 11,163 $ 34,249 $ 22,519
Net income per unit (in dollars per unit) $ 0.19 $ 0.16 $ 0.41 $ 0.32
Weighted-average units outstanding (in units) 83,241,396 70,723,662 83,241,396 70,703,078
Discontinued operations:        
Net income     $ 34,249 $ 22,519