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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues    
Rental income$ 29,483$ 26,688$ 85,564$ 75,733
Interest income1,5855,2069,49315,437
Expense reimbursements5,4074,63616,21314,721
Management fee income2523461,1691,182
Other6667121,8491,786
Total revenues37,39337,588114,288108,859
Operating Expenses    
Property operating7,3476,88722,56520,324
Real estate taxes5,0034,52313,79212,902
General and administrative5,7585,31717,14715,852
Depreciation and amortization8,3988,68724,62623,651
Total operating expenses26,50625,41478,13072,729
Operating income10,88712,17436,15836,130
Equity in earnings of unconsolidated affiliates3,1101433,025610
Other interest income105175219462
Gain from bargain purchase00033,805
(Loss) gain on debt extinguishment(303)01,2680
Interest and other finance expense(9,742)(9,904)(27,598)(29,061)
Income from continuing operations before income taxes4,0572,58813,07241,946
Income tax (benefit) provision(488)78571,869
Income from continuing operations4,5451,80313,06540,077
Discontinued Operations    
Operating income from discontinued operations1024787021,208
Impairment of asset00(6,925)0
Gain on sale of property0032,4980
Income from discontinued operations10247826,2751,208
Net income4,6472,28139,34041,285
Noncontrolling interests    
Continuing operations(572)2,9083,597(18,045)
Discontinued operations(64)(72)731(195)
Net (income) loss attributable to noncontrolling interests(636)2,8364,328(18,240)
Net income attributable to Common Shareholders$ 4,011$ 5,117$ 43,668$ 23,045
Basic Earnings per Share    
Income from continuing operations$ 0.10$ 0.12$ 0.41$ 0.55
Income from discontinued operations$ 0.00$ 0.01$ 0.67$ 0.02
Basic earnings per share$ 0.10$ 0.13$ 1.08$ 0.57
Diluted Earnings per Share    
Income from continuing operations$ 0.10$ 0.12$ 0.41$ 0.55
Income from discontinued operations$ 0.00$ 0.01$ 0.67$ 0.02
Diluted earnings per share$ 0.10$ 0.13$ 1.08$ 0.57