XML 47 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Document Fiscal Year Focus     2015  
Discontinued operations, net:        
Gain on sale of real estate $ (27,755) $ (27,558) $ (34,215) $ (29,598)
Parent Company [Member]        
Revenues:        
Minimum rent 105,071 98,620 308,766 290,935
Percentage rent 486 371 2,593 2,301
Recoveries from tenants and other income 30,725 28,787 94,205 90,144
Management, transaction, and other fees 5,786 5,781 18,032 18,353
Total revenues 142,068 133,559 423,596 401,733
Operating expenses:        
Depreciation and amortization 37,032 36,417 109,249 110,345
Operating and maintenance 19,761 18,149 61,119 58,152
General and administrative 14,750 14,463 46,227 43,883
Real estate taxes 16,044 14,832 46,842 44,529
Other operating expenses 1,880 2,062 4,825 5,665
Total operating expenses 89,467 85,923 268,262 262,574
Other expense (income):        
Interest expense, net 25,099 27,561 78,407 82,141
Provision for impairment 0 0 0 225
Early extinguishment of debt 0 0 61 0
Net investment loss (income), including unrealized losses of $1,296 and $472, and $1,771 and $289 for the three and nine months ended September 30, 2015 and 2014, respectively 1,190 (94) 190 (915)
Total other expense 26,289 27,467 78,536 81,451
Income from operations before equity in income of investments in real estate partnerships 26,312 20,169 76,798 57,708
Equity in income of investments in real estate partnerships 5,667 5,713 17,991 22,353
Income from operations 31,979 25,882 94,789 80,061
Discontinued operations, net:        
Gain on sale of real estate (27,755) (27,558) (34,215) (29,598)
Net income 59,734 53,440 129,004 109,659
Noncontrolling interests:        
Exchangeable operating partnership units (94) (90) (204) (185)
Limited partners’ interests in consolidated partnerships (643) (142) (1,619) (863)
Income attributable to noncontrolling interests (737) (232) (1,823) (1,048)
Net income attributable to the Company 58,997 53,208 127,181 108,611
Preferred stock dividends (5,266) (5,266) (15,797) (15,797)
Net income attributable to common stockholders $ 53,731 $ 47,942 $ 111,384 $ 92,814
Income per common share/unit - basic:        
Continuing operations (in dollars per share) $ 0.57 $ 0.52 $ 1.18 $ 1.00
Income per common share/unit - diluted:        
Continuing operations (in dollars per share) $ 0.57 $ 0.52 $ 1.18 $ 1.00
Partnership Interest [Member]        
Revenues:        
Minimum rent $ 105,071 $ 98,620 $ 308,766 $ 290,935
Percentage rent 486 371 2,593 2,301
Recoveries from tenants and other income 30,725 28,787 94,205 90,144
Management, transaction, and other fees 5,786 5,781 18,032 18,353
Total revenues 142,068 133,559 423,596 401,733
Operating expenses:        
Depreciation and amortization 37,032 36,417 109,249 110,345
Operating and maintenance 19,761 18,149 61,119 58,152
General and administrative 14,750 14,463 46,227 43,883
Real estate taxes 16,044 14,832 46,842 44,529
Other operating expenses 1,880 2,062 4,825 5,665
Total operating expenses 89,467 85,923 268,262 262,574
Other expense (income):        
Interest expense, net 25,099 27,561 78,407 82,141
Provision for impairment 0 0 0 225
Early extinguishment of debt 0 0 61 0
Net investment loss (income), including unrealized losses of $1,296 and $472, and $1,771 and $289 for the three and nine months ended September 30, 2015 and 2014, respectively 1,190 (94) 190 (915)
Total other expense 26,289 27,467 78,536 81,451
Income from operations before equity in income of investments in real estate partnerships 26,312 20,169 76,798 57,708
Equity in income of investments in real estate partnerships 5,667 5,713 17,991 22,353
Income from operations 31,979 25,882 94,789 80,061
Discontinued operations, net:        
Gain on sale of real estate (27,755) (27,558) (34,215) (29,598)
Net income 59,734 53,440 129,004 109,659
Noncontrolling interests:        
Limited partners’ interests in consolidated partnerships (643) (142) (1,619) (863)
Income attributable to noncontrolling interests (643) (142) (1,619) (863)
Net income attributable to the Company 59,091 53,298 127,385 108,796
Preferred unit distributions (5,266) (5,266) (15,797) (15,797)
Net income attributable to common unit holders $ 53,825 $ 48,032 $ 111,588 $ 92,999
Income per common share/unit - basic:        
Continuing operations (in dollars per share) $ 0.57 $ 0.52 $ 1.18 $ 1.00
Income per common share/unit - diluted:        
Continuing operations (in dollars per share) $ 0.57 $ 0.52 $ 1.18 $ 1.00