XML 42 R27.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Federal Income Tax Reporting (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Income Taxes |
Schedule of income tax expense reflected in the condensed consolidated statements of income |
|  | For the Year Ended December 31, |
(Dollars in thousands) |  | 2017 |  | 2016 |  | 2015 |
Revised Texas franchise tax |  | $ | 355 |  | $ | 352 |  | $ | 398 |
Other Taxes |  |  | 45 |  |  | 66 |  |  | 35 |
Taxes on income |  | $ | 400 |  | $ | 418 |  | $ | 433 |
Schedule of reconciliation of book net income to taxable income |
|  | For the year ended December 31, |
(in thousands) |  | 2017 |  | 2016 |  | 2015 |
Net income (loss) per books |  | $ | (15,944) |  | $ | 8,378 |  | $ | 35,014 |
Adjustments to book income (loss): |  |  |  |  |  |  |  |  |  |
Book depreciation and amortization |  |  | 100,227 |  |  | 92,557 |  |  | 91,201 |
Tax depreciation and amortization |  |  | (62,653) |  |  | (59,171) |  |  | (53,089) |
Tax basis more than book basis on assets sold |  |  | (907) |  |  | (576) |  |  | (2,739) |
Straight line rent adjustment, net |  |  | (2,977) |  |  | (2,976) |  |  | (3,493) |
Deferred rent, net |  |  | 1,226 |  |  | 2 |  |  | 618 |
Non-taxable distributions |  |  | (1,289) |  |  | (970) |  |  | — |
Other, net |  |  | 6,582 |  |  | (1,648) |  |  | 995 |
Taxable income |  |  | 24,265 |  |  | 35,596 |  |  | 68,507 |
Less: Capital gains recognized |  |  | — |  |  | — |  |  | 10,360 |
Taxable income subject to distribution requirement |  | $ | 24,265 |  | $ | 35,596 |  | $ | 58,147 |
Summary of tax components of Company's common distribution paid per share |
|  | 2017 |  | 2016 |  | 2015 |
|  | Per Share |  | % |  | Per Share |  | % |  | Per Share |  | % |
Ordinary income |  | $ | 0.24 |  | 31.74 | % | $ | 0.39 |  | 50.82 | % | $ | 0.60 |  | 79.17 | %
Capital gain (1) |  |  | — |  | — | % |  | — |  | — | % |  | 0.09 |  | 11.60 | %
Return of capital |  |  | 0.52 |  | 68.26 | % |  | 0.37 |  | 49.18 | % |  | 0.07 |  | 9.23 | %
Total |  | $ | 0.76 |  | 100 | % | $ | 0.76 |  | 100 | % | $ | 0.76 |  | 100 | %
| (1) |  | For 2015, 11.6% of the total distributions are taxed as capital gains, and, 5.96%, was taxed as an Unrecaptured Section 1250 gain.

X
- Definition Tabular disclosure of income tax classification of the per share common stock dividend distributions into ordinary taxable distribution, long-term capital gain and return of capital. + References No definition available. + Details
Name: | fsp_ScheduleOfIncomeTaxClassificationOfDividendDistributionsPerCommonStockTableTextBlock
Namespace Prefix: | fsp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reconciliation of book net income to taxable income. + References No definition available. + Details
Name: | fsp_ScheduleOfReconciliationOfIncomeFromBookBasisToTaxBasisTableTextBlock
Namespace Prefix: | fsp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration