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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Apr. 30, 2015
Apr. 30, 2014
Real estate investments    
Property owned $ 1,546,367 $ 1,450,216
Less accumulated depreciation (313,308) (302,405)
Total property owned 1,233,059 1,147,811
Development in progress 153,994 104,609
Unimproved land 25,827 22,864
Total real estate investments [1] 1,412,880 1,275,284
Other assets    
Assets held for sale and assets of discontinued operations 463,103 457,307
Cash and cash equivalents 48,970 47,267
Other investments 329 329
Receivable arising from straight-lining of rents, net of allowance of $718 and $796, respectively 15,617 16,009
Accounts receivable, net of allowance of $438 and $248, respectively 2,865 8,454
Real estate deposits 2,489 145
Prepaid and other assets 3,174 3,948
Intangible assets, net of accumulated amortization of $19,610 and $17,286, respectively 26,213 30,895
Tax, insurance, and other escrow 10,073 16,225
Property and equipment, net of accumulated depreciation of $1,464 and $2,041, respectively 1,542 1,674
Goodwill 1,718 1,100
Deferred charges and leasing costs, net of accumulated amortization of $8,077 and $8,892, respectively 8,864 10,584
TOTAL ASSETS 1,997,837 1,869,221
LIABILITIES    
Liabilities held for sale and liabilities of discontinued operations 321,393 332,731
Accounts payable and accrued expenses 56,399 45,117
Revolving line of credit 60,500 22,500
Mortgages payable 668,112 678,955
Construction debt and other 144,111 63,169
TOTAL LIABILITIES $ 1,250,515 $ 1,142,472
COMMITMENTS AND CONTINGENCIES (NOTE 15)
REDEEMABLE NONCONTROLLING INTERESTS - CONSOLIDATED REAL ESTATE ENTITIES $ 6,368 $ 6,203
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 124,455,624 shares issued and outstanding at April 30, 2015, and 109,019,341 shares issued and outstanding at April 30, 2014) 951,868 843,268
Accumulated distributions in excess of net income (438,432) (389,758)
Total Investors Real Estate Trust shareholders' equity 652,110 592,184
Noncontrolling interests - Operating Partnership (13,999,725 units at April 30, 2015 and 21,093,445 units at April 30, 2014) 58,325 105,724
Noncontrolling interests - consolidated real estate entities 30,519 22,638
Total equity 740,954 720,546
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY 1,997,837 1,869,221
Preferred Class A [Member]    
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares) 27,317 27,317
Preferred Class B [Member]    
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares) $ 111,357 $ 111,357
[1] The net basis of the Company's real estate investments for Federal Income Tax purposes was $1.7 billion, $1.5 billion and $1.5 billion at April 30, 2015, 2014 and 2013, respectively.