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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Rental revenue $ 483,944 $ 460,653 $ 447,784
Tenant expense reimbursement 73,679 73,459 79,516
Observatory revenue 127,118 124,814 112,172
Construction revenue 0 0 1,981
Third-party management and other fees 1,400 1,766 2,133
Other revenue and fees 26,327 17,308 14,048
Total revenues 712,468 678,000 657,634
Operating expenses:      
Property operating expenses 163,531 153,850 158,638
Ground rent expense 9,326 9,326 9,326
General and administrative expenses 50,315 49,078 38,073
Observatory expenses 30,275 29,833 32,174
Construction expenses 0 0 3,222
Real estate taxes 102,466 96,061 93,165
Acquisition expenses 0 98 193
Depreciation and amortization 160,710 155,211 171,474
Total operating expenses 516,623 493,457 506,265
Total operating income 195,845 184,543 151,369
Interest expense (68,473) (70,595) (65,743)
Loss on early extinguishment of debt (2,157) (552) (1,749)
Loss from derivative financial instruments (289) 0 0
Income before income taxes 124,926 113,396 83,877
Income tax expense (6,673) (6,146) (3,949)
Net income 118,253 107,250 79,928
Private perpetual preferred unit distributions (936) (936) (936)
Net income attributable to common unitholders $ 117,317 $ 106,314 $ 78,992
Total weighted average units:      
Basic (in units) 296,455 276,848 265,914
Diluted (in units) 298,049 277,568 265,914
Net income per unit:      
Basic net income per unit (in dollars per unit) $ 0.39 $ 0.38 $ 0.29
Diluted net income per unit (in dollars per unit) $ 0.39 $ 0.38 $ 0.29