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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Rental revenue $ 112,613 $ 112,866 $ 227,521 $ 222,924
Tenant expense reimbursement 19,054 18,582 37,174 36,782
Observatory revenue 31,838 30,600 53,019 48,823
Construction revenue 0 374 0 1,981
Third-party management and other fees 423 594 968 1,040
Other revenue and fees 1,887 1,757 4,207 5,105
Total revenues 165,815 164,773 322,889 316,655
Operating expenses:        
Property operating expenses 37,386 37,262 76,490 79,289
Ground rent expenses 2,330 2,332 4,663 4,663
General and administrative expenses 12,907 9,113 23,825 18,213
Observatory expenses 6,895 8,093 14,650 15,495
Construction expenses 0 353 0 3,222
Real estate taxes 23,557 22,952 47,082 45,930
Acquisition expenses 0 0 98 0
Depreciation and amortization 38,548 39,629 77,775 81,047
Total operating expenses 121,623 119,734 244,583 247,859
Total operating income (loss) 44,192 45,039 78,306 68,796
Interest expense (17,420) (17,571) (35,371) (33,618)
Income (loss) before income taxes 26,772 27,468 42,935 35,178
Income tax expense (2,132) (883) (1,590) (705)
Net income (loss) 24,640 26,585 41,345 34,473
Private perpetual preferred unit distributions (234) (234) (468) (468)
Net income attributable to common unitholders $ 24,406 $ 26,351 $ 40,877 $ 34,005
Total weighted average units:        
Basic (in units) 266,167 265,867 266,151 265,866
Diluted (in units) 266,167 265,867 266,151 265,866
Earnings per unit attributable to common unitholders:        
Basic earnings (in dollars per unit) $ 0.09 $ 0.10 $ 0.15 $ 0.13
Diluted earnings (in dollars per unit) 0.09 0.10 0.15 0.13
Dividends per unit (in dollars per unit) $ 0.105 $ 0.085 $ 0.19 $ 0.17