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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Gross revenues:        
Rental revenue $ 83,844 $ 78,274 $ 252,326 $ 234,749
Other revenue 1,578 1,814 5,221 5,392
Total gross revenues 85,422 80,088 257,547 240,141
Expense applicable to revenues:        
Depreciation and amortization (45,570) (44,946) (137,304) (134,645)
Property operating (14,693) (13,961) (45,681) (42,279)
General and administrative (8,614) (9,060) (26,866) (29,093)
Non-operating income 394 242 731 353
Interest and amortization expense (10,965) (11,255) (32,502) (32,758)
Debt satisfaction losses, net 0 (119) 0 (119)
Impairment charges 0 (628) (16,490) (2,457)
Change in allowance for credit loss (2) 0 29 0
Gains on sales of properties 7,154 24,841 15,033 52,951
Selling profit from sales-type lease 0 0 0 9,314
Income before provision for income taxes and equity in earnings (losses) of non-consolidated entities 13,126 25,202 14,497 61,408
Provision for income taxes (220) (271) (646) (951)
Equity in earnings (losses) of non-consolidated entities (5) (1,340) 2,585 15,580
Net income 12,901 23,591 16,436 76,037
Less net income attributable to noncontrolling interests (237) (201) (654) (727)
Net income attributable to LXP Industrial Trust shareholders 12,664 23,390 15,782 75,310
Dividends attributable to preferred shares – Series C (1,573) (1,573) (4,718) (4,718)
Allocation to participating securities (52) (41) (186) (151)
Net income attributable to common shareholders $ 11,039 $ 21,776 $ 10,878 $ 70,441
Net income attributable to common shareholders – per common share basic (in dollars per share) $ 0.04 $ 0.08 $ 0.04 $ 0.25
Weighted-average common shares outstanding – basic (in shares) 290,291,609 277,535,717 290,187,124 281,559,058
Net income attributable to common shareholders – per common share diluted (in dollars per share) $ 0.04 $ 0.08 $ 0.04 $ 0.25
Weighted-average common shares outstanding – diluted (in shares) 291,253,005 278,521,946 291,148,809 284,609,950