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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Gross revenues:        
Rental revenue $ 85,065 $ 77,939 $ 168,482 $ 156,475
Total gross revenues 87,050 79,775 172,125 160,053
Expense applicable to revenues:        
Depreciation and amortization (45,993) (45,193) (91,734) (89,699)
General and administrative (9,010) (9,296) (18,252) (20,033)
Non-operating income 143 79 337 111
Interest and amortization expense (10,144) (10,821) (21,537) (21,503)
Impairment charges (12,967) (1,829) (16,490) (1,829)
Change in allowance for credit loss 110 0 31 0
Gains on sales of properties 0 27,855 7,879 28,110
Selling profit from sales-type lease 0 9,314 0 9,314
Income (loss) before provision for income taxes and equity in earnings (losses) of non-consolidated entities (6,556) 36,182 1,371 36,206
Provision for income taxes (210) (263) (426) (680)
Equity in earnings (losses) of non-consolidated entities (1,014) 5,619 2,590 16,920
Net income (loss) (7,780) 41,538 3,535 52,446
Less net income attributable to noncontrolling interests (268) (240) (417) (526)
Net income (loss) attributable to LXP Industrial Trust shareholders (8,048) 41,298 3,118 51,920
Allocation to participating securities (62) (58) (134) (110)
Net income (loss) attributable to common shareholders $ (9,683) $ 39,667 $ (161) $ 48,665
Net income (loss) attributable to common shareholders – per common share basic (in dollars per share) $ (0.03) $ 0.14 $ 0 $ 0.17
Weighted-average common shares outstanding – basic (in shares) 290,186,934 283,568,078 290,134,015 283,604,072
Net income (loss) attributable to common shareholders – per common share diluted (in dollars per share) $ (0.03) $ 0.14 $ 0 $ 0.17
Weighted-average common shares outstanding – diluted (in shares) 291,015,537 285,436,441 290,964,350 287,687,397
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 1,985 1,836 3,643 3,578
Property operating        
Expense applicable to revenues:        
Property operating $ (15,745) $ (13,702) $ (30,988) $ (28,318)