Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

v2.4.0.6
Consolidated Statements Of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
REVENUES      
Base rents $ 582,565 $ 586,710 $ 590,936
Escalations and recoveries from tenants 81,556 92,343 99,672
Construction services 13,557 12,058 62,997
Real estate services 8,769 5,199 7,874
Other income 18,296 12,796 12,264
Total revenues 704,743 709,106 773,743
EXPENSES      
Real estate taxes 93,377 85,887 91,976
Utilities 63,046 72,026 72,461
Operating services 111,067 114,313 111,159
Direct construction costs 12,647 11,458 60,255
General and administrative 47,868 35,444 34,876
Depreciation and amortization 189,008 190,050 187,592
Impairments 18,245    
Total expenses 535,258 509,178 558,319
Operating income 169,485 199,928 215,424
OTHER (EXPENSE) INCOME      
Interest expense (122,368) (124,187) (148,363)
Interest and other investment income 35 39 86
Equity in earnings (loss) of unconsolidated joint ventures 4,089 [1] 2,022 [1] 2,276 [1]
Loss from early extinguishment of debt (4,960)   (3,752)
Total other (expense) income (123,204) (122,126) (149,753)
Income from continuing operations 46,281 77,802 65,671
Discontinued operations:      
Income (loss) from discontinued operations 4,763 3,585 2,842
Realized gains (losses) and unrealized losses on disposition of rental property, net (4,775)   (5,074)
Total discontinued operations, net (12) 3,585 (2,232)
Net income 46,269 81,387 63,439
Noncontrolling interest in consolidated joint ventures 330 402 262
Noncontrolling interest in Operating Partnership (5,679) (9,908) (9,102)
Noncontrolling interest in discontinued operations 2 (461) 301
Preferred stock dividends   (1,736) (2,000)
Net income available to common shareholders $ 40,922 $ 69,684 $ 52,900
Basic earnings per common share:      
Income from continuing operations $ 0.47 $ 0.77 $ 0.69
Discontinued operations   $ 0.04 $ (0.02)
Net income available to common shareholders $ 0.47 $ 0.81 $ 0.67
Diluted earnings per common share:      
Income from continuing operations $ 0.47 $ 0.77 $ 0.69
Discontinued operations   $ 0.04 $ (0.02)
Net income available to common shareholders $ 0.47 $ 0.81 $ 0.67
Basic weighted average shares outstanding 87,742,000 86,047,000 79,224,000
Diluted weighted average shares outstanding 99,996,000 98,962,000 92,477,000
[1] Included in the real estate segment for these items are the effects of the Roseland Assets acquired in 2012.