XML 26 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Gross revenues:      
Rental $ 359,832 $ 398,065 $ 399,485
Tenant reimbursements 31,809 31,431 31,354
Total gross revenues 391,641 429,496 430,839
Expense applicable to revenues:      
Depreciation and amortization (173,968) (166,048) (163,198)
Property operating (49,194) (47,355) (59,655)
General and administrative (34,158) (31,104) (29,276)
Litigation settlement (2,050) 0 0
Non-operating income 10,378 13,043 11,429
Interest and amortization expense (77,883) (88,032) (89,739)
Debt satisfaction gains (charges), net 6,196 (975) 25,150
Impairment charges and loan losses (44,996) (100,236) (36,832)
Gains on sales of properties 63,428 81,510 23,307
Income (loss) before provision for income taxes and equity in earnings of non-consolidated entities 89,394 90,299 112,025
Provision for income taxes (1,917) (1,439) (568)
Equity in earnings (losses) of non-consolidated entities (848) 7,590 1,752
Income (loss) from continuing operations 86,629 96,450 113,209
Discontinued operations:      
Income from discontinued operations 0 0 109
Provision for income taxes 0 0 (4)
Gains on sales of properties 0 0 1,577
Total discontinued operations 0 0 1,682
Net income (loss) 86,629 96,450 114,891
Less net income attributable to noncontrolling interests (1,046) (826) (3,188)
Net income attributable to Lexington Realty Trust shareholders 85,583 95,624 111,703
Dividends attributable to preferred shares (6,290) (6,290) (6,290)
Allocation to participating securities (226) (225) (313)
Net income attributable to common shareholders $ 79,067 $ 89,109 $ 105,100
Income per common share – basic:      
Income from continuing operations, basic (usd per share) $ 0.33 $ 0.38 $ 0.44
Income from discontinued operations, basic (usd per share) 0.00 0.00 0.01
Net income attributable to common shareholders, basic (usd per share) $ 0.33 $ 0.38 $ 0.45
Weighted-average common shares outstanding - basic (in shares) 237,758,408 233,633,058 233,455,056
Income per common share – diluted:      
Income from continuing operations, diluted (usd per share) $ 0.33 $ 0.37 $ 0.44
Income from discontinued operations, diluted (usd per share) 0.00 0.00 0.01
Net income attributable to common shareholders, diluted (usd per share) $ 0.33 $ 0.37 $ 0.45
Weighted-average common shares outstanding (in shares) 241,537,837 237,679,031 233,751,775
Amounts attributable to common shareholders:      
Income from continuing operations $ 79,067 $ 89,109 $ 103,418
Income from discontinued operations 0 0 1,682
Net income attributable to common shareholders 79,067 89,109 105,100
LCIF [Member]      
Gross revenues:      
Rental 74,707 115,403 117,847
Tenant reimbursements 8,066 8,766 10,154
Total gross revenues 82,773 124,169 128,001
Expense applicable to revenues:      
Depreciation and amortization (37,266) (34,264) (30,651)
Property operating (12,516) (14,414) (17,046)
General and administrative (6,721) (9,570) (8,541)
Non-operating income 386 299 531
Interest and amortization expense (15,969) (27,313) (29,269)
Debt satisfaction gains (charges), net 0 (7,388) (33)
Impairment charges and loan losses (12,061) (72,072) (787)
Gains on sales of properties 4,491 36,380 0
Income (loss) before provision for income taxes and equity in earnings of non-consolidated entities 3,117 (4,173) 42,205
Provision for income taxes (34) (72) (48)
Equity in earnings (losses) of non-consolidated entities 476 324 158
Discontinued operations:      
Net income (loss) $ 3,559 $ (3,921) $ 42,315
Amounts attributable to common shareholders:      
Net income (loss) (usd per unit) $ 0.04 $ (0.05) $ 0.58
Weighted-average units outstanding (in units) 82,537,628 83,241,396 72,615,795