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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Gross revenues:        
Rental revenue $ 77,939 $ 80,572 $ 156,475 $ 172,217
Total gross revenues 79,775 81,541 160,053 174,098
Expense applicable to revenues:        
Depreciation and amortization (45,193) (43,044) (89,699) (85,220)
General and administrative (9,296) (7,912) (20,033) (16,332)
Non-operating income 79 4 111 481
Interest and amortization expense (10,821) (11,474) (21,503) (22,960)
Impairment charges (1,829) 0 (1,829) 0
Gains on sales of properties 27,855 66,726 28,110 88,645
Selling profit from sales-type lease 9,314 0 9,314 0
Income before provision for income taxes and equity in earnings (losses) of non-consolidated entities 36,182 74,215 36,206 116,152
Provision for income taxes (263) (344) (680) (716)
Equity in earnings (losses) of non-consolidated entities 5,619 (84) 16,920 (174)
Net income 41,538 73,787 52,446 115,262
Less net income attributable to noncontrolling interests (240) (1,109) (526) (1,542)
Net income attributable to LXP Industrial Trust shareholders 41,298 72,678 51,920 113,720
Allocation to participating securities (58) (105) (110) (178)
Net income attributable to common shareholders $ 39,667 $ 71,000 $ 48,665 $ 110,397
Net income attributable to common shareholders - per common share basic (in dollars per share) $ 0.14 $ 0.26 $ 0.17 $ 0.40
Weighted-average common shares outstanding – basic (in shares) 283,568,078 275,568,868 283,604,072 275,493,019
Net income attributable to common shareholders – per common share diluted (in dollars per share) $ 0.14 $ 0.26 $ 0.17 $ 0.40
Weighted-average common shares outstanding – diluted (in shares) 285,436,441 277,466,056 287,687,397 276,834,089
Series C        
Expense applicable to revenues:        
Dividends attributable to preferred shares – Series C $ (1,573) $ (1,573) $ (3,145) $ (3,145)
Other revenue        
Gross revenues:        
Other revenue 1,836 969 3,578 1,881
Property operating        
Expense applicable to revenues:        
Property operating $ (13,702) $ (11,626) $ (28,318) $ (22,560)