Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Operations

 v2.3.0.11
Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES        
Base rents $ 149,652 $ 149,692 $ 299,075 $ 302,385
Escalations and recoveries from tenants 24,026 25,837 51,610 51,956
Construction services 2,826 22,357 6,625 33,219
Real estate services 1,151 1,669 2,383 3,646
Other income 3,452 3,230 7,744 6,162
Total revenues 181,107 202,785 367,437 397,368
EXPENSES        
Real estate taxes 24,386 25,912 49,431 48,073
Utilities 16,887 16,409 36,992 36,235
Operating services 28,648 28,073 59,464 56,754
Direct construction costs 2,784 21,411 6,366 31,704
General and administrative 9,226 8,658 17,855 17,072
Depreciation and amortization 48,268 47,474 96,416 95,964
Total expenses 130,199 147,937 266,524 285,802
Operating income 50,908 54,848 100,913 111,566
OTHER (EXPENSE) INCOME        
Interest expense (31,363) (37,335) (62,702) (76,406)
Interest and other investment income 10 18 20 39
Equity in earnings (loss) of unconsolidated joint ventures 736 260 635 (262)
Total other (expense) income (30,617) (37,057) (62,047) (76,629)
Income from continuing operations 20,291 17,791 38,866 34,937
Discontinued operations:        
Income (loss) from discontinued operations   11   242
Realized gains (losses) and unrealized losses on disposition of rental property, net   4,447   4,447
Total discontinued operations, net   4,458   4,689
Net income 20,291 22,249 38,866 39,626
Noncontrolling interest in consolidated joint ventures 102 86 212 173
Noncontrolling interest in Operating Partnership (2,560) (2,475) (5,016) (4,897)
Noncontrolling interest in discontinued operations   (635)   (668)
Preferred stock dividends (500) (500) (1,000) (1,000)
Net income available to common shareholders $ 17,333 $ 18,725 $ 33,062 $ 33,234
Basic earnings per common share:        
Income from continuing operations $ 0.20 $ 0.19 $ 0.39 $ 0.37
Discontinued operations   $ 0.05   $ 0.05
Net income available to common shareholders $ 0.20 $ 0.24 $ 0.39 $ 0.42
Diluted earnings per common share:        
Income from continuing operations $ 0.20 $ 0.19 $ 0.39 $ 0.37
Discontinued operations   $ 0.05   $ 0.05
Net income available to common shareholders $ 0.20 $ 0.24 $ 0.39 $ 0.42
Basic weighted average shares outstanding 86,936 79,203 84,953 79,089
Diluted weighted average shares outstanding 99,887 92,489 97,963 92,482