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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Gross revenues:        
Rental $ 98,952 $ 98,095 $ 304,158 $ 300,551
Tenant reimbursements 7,379 7,343 23,366 23,662
Total gross revenues 106,331 105,438 327,524 324,213
Expense applicable to revenues:        
Depreciation and amortization (40,288) (39,712) (124,687) (121,795)
Property operating (11,472) (13,484) (34,843) (45,600)
General and administrative (7,510) (6,734) (23,032) (22,526)
Non-operating income 3,080 2,515 9,500 8,213
Interest and amortization expense (23,001) (21,931) (68,573) (68,273)
Debt satisfaction gains (charges), net 2,538 (398) (818) 13,753
Impairment charges (72,890) (32,818) (75,904) (34,070)
Gains on sales of properties 16,072 1,733 58,413 23,307
Income (loss) before provision for income taxes, equity in earnings of non-consolidated entities and discontinued operations (27,140) (5,391) 67,580 77,222
Provision for income taxes (462) (75) (1,099) (464)
Equity in earnings of non-consolidated entities 340 266 6,394 938
Income (loss) from continuing operations (27,262) (5,200) 72,875 77,696
Discontinued operations:        
Income from discontinued operations 0 0 0 109
Provision for income taxes 0 0 0 (4)
Gain on sale of property 0 0 0 1,577
Total discontinued operations 0 0 0 1,682
Net income (loss) (27,262) (5,200) 72,875 79,378
Less net (income) loss attributable to noncontrolling interests 2,232 (784) 340 (2,525)
Net income (loss) attributable to Lexington Realty Trust shareholders (25,030) (5,984) 73,215 76,853
Allocation to participating securities (50) (72) (187) (264)
Net income (loss) attributable to common shareholders $ (26,653) $ (7,629) $ 68,310 $ 71,871
Income (loss) per common share – basic:        
Income (loss) from continuing operations (in dollars per share) $ (0.11) $ (0.03) $ 0.29 $ 0.30
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) $ (0.11) $ (0.03) $ 0.29 $ 0.31
Weighted-average common shares outstanding – basic (in shares) 234,207,396 234,018,062 233,151,600 233,457,400
Income (loss) per common share – diluted:        
Income from continuing operations (in dollars per share) $ (0.11) $ (0.03) $ 0.28 $ 0.30
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) $ (0.11) $ (0.03) $ 0.28 $ 0.31
Weighted-average common shares outstanding – diluted (in shares) 234,207,396 234,018,062 237,215,883 233,776,838
Amounts attributable to common shareholders:        
Income (loss) from continuing operations $ (26,653) $ (7,629) $ 68,310 $ 70,189
Income from discontinued operations 0 0 0 1,682
Net income (loss) attributable to common shareholders (26,653) (7,629) 68,310 71,871
Series C [Member]        
Discontinued operations:        
Dividends attributable to preferred shares – Series C (1,573) (1,573) (4,718) (4,718)
LCIF [Member]        
Gross revenues:        
Rental 28,846 28,336 92,002 87,587
Tenant reimbursements 2,062 2,426 6,782 7,435
Total gross revenues 30,908 30,762 98,784 95,022
Expense applicable to revenues:        
Depreciation and amortization (7,793) (7,308) (25,402) (21,847)
Property operating (3,372) (4,244) (11,057) (12,412)
General and administrative (2,290) (2,235) (6,777) (6,598)
Non-operating income 44 1 299 38
Interest and amortization expense (7,133) (7,200) (23,400) (21,918)
Debt satisfaction gains (charges), net (5,773) 0 (7,388) (33)
Impairment charges (65,509) 0 (67,935) 0
Gains on sales of properties 0 0 16,029 0
Income (loss) before provision for income taxes, equity in earnings of non-consolidated entities and discontinued operations (60,918) 9,776 (26,847) 32,252
Provision for income taxes (32) (8) (57) (41)
Equity in earnings of non-consolidated entities 49 59 252 135
Income (loss) from continuing operations $ (60,901) $ 9,827 $ (26,652) $ 32,346
Net income per unit (in dollars per unit) $ (0.73) $ 0.13 $ (0.32) $ 0.45
Weighted-average units outstanding (in units) 83,241,396 74,449,266 83,241,396 71,965,530
Discontinued operations:        
Net income (loss)     $ (26,652) $ 32,346