XML 19 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Rental income $ 158,632 $ 145,103 $ 122,730
Interest income 16,603 12,607 11,800
Expense reimbursements 36,306 32,642 28,373
Other 5,721 4,660 5,383
Total revenues 217,262 195,012 168,286
Operating Expenses      
Property operating 28,423 24,833 21,026
Other operating 4,675 3,776 4,605
Real estate taxes 25,384 23,062 20,922
General and administrative 30,368 27,433 25,555
Depreciation and amortization 60,751 49,645 40,299
Impairment of asset 5,000 0 1,500
Total operating expenses 154,601 128,749 113,907
Operating income 62,661 66,263 54,379
Equity in earnings of unconsolidated affiliates 13,287 8,723 12,382
Gain on disposition of properties of unconsolidated affiliates 24,043 102,855 0
Loss on debt extinguishment (135) (335) (765)
Interest and other finance expense (37,162) (39,091) (39,474)
Gain on disposition of properties 89,063 13,138 0
Income from continuing operations before income taxes 151,757 151,553 26,522
Income tax provision (1,787) (629) (19)
Income from continuing operations 149,970 150,924 26,503
Discontinued operations      
Operating income from discontinued operations 0 0 6,818
Impairment of asset 0 0 (6,683)
Loss on debt extinguishment 0 0 (800)
Gain on disposition of properties 0 1,222 18,802
Income from discontinued operations 0 1,222 18,137
Net income 149,970 152,146 44,640
Noncontrolling interests      
Continuing operations (84,262) (80,059) 7,523
Discontinued operations 0 (1,023) (12,048)
Net income attributable to noncontrolling interests (84,262) (81,082) (4,525)
Net income attributable to Common Shareholders $ 65,708 $ 71,064 $ 40,115
Basic earnings per share      
Income from continuing operations (in dollars per share) $ 0.94 $ 1.18 $ 0.61
Income from discontinued operations (in dollars per share) 0.00 0.00 0.11
Basic earnings per share (in dollars per share) 0.94 1.18 0.72
Diluted earnings per share      
Income from continuing operations (in dollars per share) 0.94 1.18 0.61
Income from discontinued operations (in dollars per share) 0.00 0.00 0.11
Diluted earnings per share (in dollars per share) $ 0.94 $ 1.18 $ 0.72