Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

v3.3.1.900
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
REVENUES      
Base rents $ 487,041 $ 516,727 $ 540,165
Escalations and recoveries from tenants 62,481 78,554 72,758
Construction services     15,650
Real estate services 29,620 28,638 26,935
Parking income 11,124 9,107 6,840
Other income 4,617 3,773 4,683
Total revenues 594,883 636,799 667,031
EXPENSES      
Real estate taxes 82,688 90,750 85,574
Utilities 55,965 72,822 63,622
Operating services 107,951 112,621 105,278
Direct construction costs     14,945
Real estate services expenses 25,583 26,136 22,716
General and administrative 49,147 71,051 47,040
Acquisition-related costs 1,560 2,118 642
Depreciation and amortization 170,402 172,490 182,766
Impairments 197,919   110,853
Total expenses 691,215 547,988 633,436
Operating income (loss) (96,332) 88,811 33,595
OTHER (EXPENSE) INCOME      
Interest expense (103,051) (112,878) (123,701)
Interest and other investment income 794 3,615 2,903
Equity in earnings (loss) of unconsolidated joint ventures (3,172) (2,423) (2,327)
Realized gains (losses) on disposition of rental property, net 53,261 54,848  
Gain on sale of investment in unconsolidated joint ventures 6,448    
Loss from early extinguishment of debt   (582) (156)
Total other (expense) income (45,720) (57,420) (123,281)
Income (loss) from continuing operations (142,052) 31,391 (89,686)
Discontinued operations:      
Income from discontinued operations     11,811
Loss from early extinguishment of debt     (703)
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net     59,520
Total discontinued operations, net     70,628
Net income (loss) (142,052) 31,391 (19,058)
Noncontrolling interest in consolidated joint ventures 1,044 778 2,199
Noncontrolling interest in Operating Partnership 15,256 (3,602) 10,459
Noncontrolling interest in discontinued operations     (8,509)
Net income (loss) available to common shareholders $ (125,752) $ 28,567 $ (14,909)
Basic earnings per common share:      
Income (loss) from continuing operations $ (1.41) $ 0.32 $ (0.88)
Discontinued operations     0.71
Net income (loss) available to common shareholders (1.41) 0.32 (0.17)
Diluted earnings per common share:      
Income (loss) from continuing operations (1.41) 0.32 (0.88)
Discontinued operations     0.71
Net income (loss) available to common shareholders $ (1.41) $ 0.32 $ (0.17)
Basic weighted average shares outstanding 89,291 88,727 87,762
Diluted weighted average shares outstanding 100,222 100,041 99,785