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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Document Fiscal Year Focus     2015  
Discontinued operations, net:        
Gain on sale of real estate $ (5,657) $ (1,691) $ (6,460) $ (2,406)
Parent Company [Member]        
Revenues:        
Minimum rent 102,390 97,778 203,695 192,314
Percentage rent 300 545 2,108 1,930
Recoveries from tenants and other income 32,431 30,316 63,479 61,357
Management, transaction, and other fees 6,008 6,253 12,246 12,572
Total revenues 141,129 134,892 281,528 268,173
Operating expenses:        
Depreciation and amortization 36,225 36,023 72,218 73,929
Operating and maintenance 20,185 19,498 41,358 40,003
General and administrative 15,099 15,223 31,477 29,421
Real estate taxes 15,667 14,898 30,798 29,697
Other operating expenses 1,779 1,795 2,943 3,968
Total operating expenses 88,955 87,437 178,794 177,018
Other expense (income):        
Interest expense, net 26,675 27,445 53,308 54,580
Provision for impairment 0 0 0 225
Early extinguishment of debt 0 0 61 0
Net investment income, including unrealized losses (gains) of $892 and ($290), and $475 and ($183) for the three and six months ended June 30, 2015 and 2014, respectively (367) (628) (1,000) (821)
Total other expense 26,308 26,817 52,247 53,984
Income from operations before equity in income of investments in real estate partnerships 25,866 20,638 50,487 37,171
Equity in income of investments in real estate partnerships 6,757 8,832 12,324 16,640
Income from operations 32,623 29,470 62,811 53,811
Discontinued operations, net:        
Gain on sale of real estate (5,657) (1,691) (6,460) (2,406)
Net income 38,280 31,161 69,271 56,217
Noncontrolling interests:        
Exchangeable operating partnership units (61) (53) (110) (95)
Limited partners’ interests in consolidated partnerships (473) (360) (977) (719)
Income attributable to noncontrolling interests (534) (413) (1,087) (814)
Net income attributable to the Company 37,746 30,748 68,184 55,403
Preferred stock dividends (5,266) (5,266) (10,531) (10,531)
Net income attributable to common stockholders $ 32,480 $ 25,482 $ 57,653 $ 44,872
Income per common share/unit - basic:        
Continuing operations (in dollars per share) $ 0.35 $ 0.28 $ 0.61 $ 0.48
Income per common share/unit - diluted:        
Continuing operations (in dollars per share) $ 0.34 $ 0.28 $ 0.61 $ 0.48
Partnership Interest [Member]        
Revenues:        
Minimum rent $ 102,390 $ 97,778 $ 203,695 $ 192,314
Percentage rent 300 545 2,108 1,930
Recoveries from tenants and other income 32,431 30,316 63,479 61,357
Management, transaction, and other fees 6,008 6,253 12,246 12,572
Total revenues 141,129 134,892 281,528 268,173
Operating expenses:        
Depreciation and amortization 36,225 36,023 72,218 73,929
Operating and maintenance 20,185 19,498 41,358 40,003
General and administrative 15,099 15,223 31,477 29,421
Real estate taxes 15,667 14,898 30,798 29,697
Other operating expenses 1,779 1,795 2,943 3,968
Total operating expenses 88,955 87,437 178,794 177,018
Other expense (income):        
Interest expense, net 26,675 27,445 53,308 54,580
Provision for impairment 0 0 0 225
Early extinguishment of debt 0 0 61 0
Net investment income, including unrealized losses (gains) of $892 and ($290), and $475 and ($183) for the three and six months ended June 30, 2015 and 2014, respectively (367) (628) (1,000) (821)
Total other expense 26,308 26,817 52,247 53,984
Income from operations before equity in income of investments in real estate partnerships 25,866 20,638 50,487 37,171
Equity in income of investments in real estate partnerships 6,757 8,832 12,324 16,640
Income from operations 32,623 29,470 62,811 53,811
Discontinued operations, net:        
Gain on sale of real estate (5,657) (1,691) (6,460) (2,406)
Net income 38,280 31,161 69,271 56,217
Noncontrolling interests:        
Limited partners’ interests in consolidated partnerships (473) (360) (977) (719)
Income attributable to noncontrolling interests (473) (360) (977) (719)
Net income attributable to the Company 37,807 30,801 68,294 55,498
Preferred unit distributions (5,266) (5,266) (10,531) (10,531)
Net income attributable to common unit holders $ 32,541 $ 25,535 $ 57,763 $ 44,967
Income per common share/unit - basic:        
Continuing operations (in dollars per share) $ 0.35 $ 0.28 $ 0.61 $ 0.48
Income per common share/unit - diluted:        
Continuing operations (in dollars per share) $ 0.34 $ 0.28 $ 0.61 $ 0.48