XML 145 R123.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment Information - Reconciliation of Consolidated Net Income (Loss) to Consolidated NOI (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2018
 [1]
Sep. 30, 2018
 [2]
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Jun. 30, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Segment Reporting [Abstract]                        
Net income $ 122,710 $ (43,262) $ 13,136 $ 44,705 $ 73,844 $ 19,046 $ 7,698 $ 21,271   $ 137,289 $ 121,859 $ 40,501
Plus:                        
Interest expense                   78,199 81,886 84,708
Interest expense - amortization of deferred financing costs                   2,498 2,435 2,696
Interest expense - financing obligation                   0 0 679
Depreciation and amortization                   174,259 179,357 189,676
General and administrative expenses                   27,802 28,538 26,596
Equity in loss of Real Estate Ventures                   15,231 8,306 11,503
Provision for impairment                 $ 1,800 71,707 3,057 40,517
Loss on early extinguishment of debt                   105 3,933 66,590
Less:                        
Interest income                   4,703 1,113 1,236
Income tax (provision) benefit                   (423) 628 0
Net gain on disposition of real estate                   2,932 31,657 116,983
Net gain on sale of undepreciated real estate                   3,040 953 9,232
Net gain on real estate venture transactions                   142,233 80,526 20,000
Gain on promoted interest in unconsolidated real estate venture                   28,283 0 0
Consolidated net operating income                   $ 326,322 $ 314,494 $ 316,015
[1] The increase in net income for the fourth quarter primarily relates to gains of $103.8 million and $28.3 million, recorded in the “Net gain on real estate venture transactions” and “Gain on promoted interest in unconsolidated real estate venture” captions within the Company’s consolidated statements of operations, respectively, from the Austin Portfolio transaction. For further details, see Note 3, "Real Estate Investments."
[2] The decrease in third quarter net income primarily relates to a $56.9 million impairment charge which related to eight office properties in the Company’s Metropolitan Washington, D.C. segment. See Note 3, “Real Estate Investments,” for further information.