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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Rental revenue $ 110,903 $ 106,152 $ 333,827 $ 288,566
Tenant expense reimbursement 23,096 20,034 59,878 49,491
Observatory revenue 35,702 35,684 84,525 83,374
Construction revenue 0 5,804 1,981 33,730
Third-party management and other fees 618 561 1,658 1,925
Other revenue and fees 5,460 1,206 10,565 7,829
Total revenues 175,779 169,441 492,434 464,915
Operating expenses:        
Property operating expenses 41,664 38,291 122,051 109,300
Ground rent expenses 2,331 2,066 6,994 2,964
Marketing, general, and administrative expenses 10,182 10,071 28,395 29,786
Observatory expenses 7,284 7,109 21,681 21,210
Construction expenses 0 6,095 3,222 33,173
Real estate taxes 23,613 21,870 69,543 58,429
Acquisition expenses 193 2,647 193 3,382
Depreciation and amortization 45,169 37,880 126,216 96,632
Total operating expenses 130,436 126,029 378,295 354,876
Total operating income 45,343 43,412 114,139 110,039
Other income (expense):        
Interest expense (16,680) (17,674) (50,298) (46,640)
Income before income taxes 28,663 25,738 63,841 63,399
Income tax expense (2,578) (3,004) (3,283) (4,153)
Net income 26,085 22,734 60,558 59,246
Private perpetual preferred unit distributions (234) (241) (702) (241)
Net income attributable to common unitholders $ 25,851 $ 22,493 $ 59,856 $ 59,005
Total weighted average units:        
Basic (in units) 265,873 263,041 265,868 250,696
Diluted (in units) 265,873 263,041 265,868 250,696
Earnings per unit attributable to common unitholders:        
Basic earnings (per unit) $ 0.10 $ 0.09 $ 0.22 $ 0.23
Diluted earnings (per unit) 0.10 0.09 0.22 0.23
Dividends per unit (in dollars per unit) $ 0.085 $ 0.085 $ 0.255 $ 0.255