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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Gross revenues:        
Rental revenue $ 78,274 $ 82,353 $ 234,749 $ 254,570
Total gross revenues 80,088 83,417 240,141 257,515
Expense applicable to revenues:        
Depreciation and amortization (44,946) (45,359) (134,645) (130,579)
General and administrative (9,060) (8,363) (29,093) (24,695)
Non-operating income 242 472 353 953
Interest and amortization expense (11,255) (12,210) (32,758) (35,170)
Debt satisfaction losses, net (119) (13,222) (119) (13,222)
Impairment charges (628) (2,048) (2,457) (2,048)
Gains on sales of properties 24,841 16,122 52,951 104,767
Selling profit from sales-type lease 0 0 9,314 0
Income before provision for income taxes and equity in earnings (losses) of non-consolidated entities 25,202 7,403 61,408 123,555
Provision for income taxes (271) (270) (951) (986)
Equity in earnings (losses) of non-consolidated entities (1,340) (75) 15,580 (249)
Net income 23,591 7,058 76,037 122,320
Less net income attributable to noncontrolling interests (201) (420) (727) (1,962)
Net income attributable to LXP Industrial Trust shareholders 23,390 6,638 75,310 120,358
Allocation to participating securities (41) (37) (151) (170)
Net income attributable to common shareholders $ 21,776 $ 5,028 $ 70,441 $ 115,470
Net income attributable to common shareholders - per common share basic (in dollars per share) $ 0.08 $ 0.02 $ 0.25 $ 0.42
Weighted-average common shares outstanding – basic (in shares) 277,535,717 278,124,204 281,559,058 276,379,718
Net income attributable to common shareholders – per common share diluted (in dollars per share) $ 0.08 $ 0.02 $ 0.25 $ 0.41
Weighted-average common shares outstanding – diluted (in shares) 278,521,946 282,048,458 284,609,950 278,581,849
Series C        
Expense applicable to revenues:        
Dividends attributable to preferred shares – Series C $ (1,573) $ (1,573) $ (4,718) $ (4,718)
Other revenue        
Gross revenues:        
Other revenue 1,814 1,064 5,392 2,945
Property operating        
Expense applicable to revenues:        
Property operating $ (13,961) $ (11,406) $ (42,279) $ (33,966)