2016 Q4 Form 10-Q Financial Statement
#000165642316000023 Filed on November 07, 2016
Income Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
Revenue | $636.1M | $625.2M | $629.9M |
YoY Change | 1.89% | -0.74% | 1.79% |
Cost Of Revenue | $231.8M | $236.7M | $227.9M |
YoY Change | 3.25% | 3.86% | 2.29% |
Gross Profit | $404.2M | $388.6M | $402.0M |
YoY Change | 1.13% | -3.33% | 1.52% |
Gross Profit Margin | 63.55% | 62.15% | 63.82% |
Selling, General & Admin | $25.30M | $25.20M | $20.90M |
YoY Change | 4.12% | 20.57% | -7.52% |
% of Gross Profit | 6.26% | 6.48% | 5.2% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $178.0M | $203.8M | $153.0M |
YoY Change | 8.27% | 33.2% | -2.67% |
% of Gross Profit | 44.04% | 52.44% | 38.06% |
Operating Expenses | $203.4M | $228.9M | $173.9M |
YoY Change | 7.73% | 31.63% | -3.28% |
Operating Profit | $200.8M | $157.6M | $227.8M |
YoY Change | -4.79% | -30.8% | 6.03% |
Interest Expense | -$94.20M | $104.6M | $108.7M |
YoY Change | -8.54% | -3.76% | -4.04% |
% of Operating Profit | -46.91% | 66.39% | 47.74% |
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | $164.9M | $71.50M | $323.3M |
YoY Change | -1.08% | -77.88% | 114.11% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $147.2M | $76.75M | $184.1M |
YoY Change | 6.79% | -58.3% | 44.12% |
Net Earnings / Revenue | 23.14% | 12.28% | 29.22% |
Basic Earnings Per Share | $0.96 | $0.50 | $1.20 |
Diluted Earnings Per Share | $0.96 | $0.50 | $1.20 |
COMMON SHARES | |||
Basic Shares Outstanding | 153.8M shares | 153.8M shares | 153.6M shares |
Diluted Shares Outstanding | 154.1M shares | 153.8M shares |
Balance Sheet
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $380.7M | $442.3M | $1.407B |
YoY Change | -48.83% | -68.55% | 62.53% |
Cash & Equivalents | $356.9M | $419.3M | $1.387B |
Short-Term Investments | $23.81M | $23.02M | $19.65M |
Other Short-Term Assets | $130.0M | $177.0M | $143.0M |
YoY Change | -29.73% | 23.78% | -34.7% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $93.00M | $76.00M | $66.00M |
Other Receivables | $799.0M | $786.0M | $738.0M |
Total Short-Term Assets | $1.379B | $1.458B | $2.334B |
YoY Change | -21.74% | -37.53% | 29.74% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $15.93B | $15.79B | $15.57B |
YoY Change | 2.37% | 1.41% | -2.0% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $799.0M | $799.0M | $237.0M |
YoY Change | 212.11% | 237.13% | 19.1% |
Other Assets | $749.0M | $744.0M | $840.0M |
YoY Change | -3.85% | -11.43% | -15.24% |
Total Long-Term Assets | $17.47B | $17.33B | $16.65B |
YoY Change | 5.32% | 4.12% | -2.52% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.379B | $1.458B | $2.334B |
Total Long-Term Assets | $17.47B | $17.33B | $16.65B |
Total Assets | $18.85B | $18.79B | $18.98B |
YoY Change | 2.73% | -1.0% | 0.56% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $299.0M | $313.0M | $245.0M |
YoY Change | 8.73% | 27.76% | -3.54% |
Accrued Expenses | $244.0M | $235.0M | $201.0M |
YoY Change | 28.42% | 16.92% | 10.44% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $673.0M | $661.0M | $559.0M |
YoY Change | -15.03% | 18.25% | 1.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $9.796B | $9.809B | $9.910B |
YoY Change | 6.61% | -1.02% | -7.0% |
Other Long-Term Liabilities | $451.0M | $461.0M | $449.0M |
YoY Change | -6.82% | 2.67% | -13.15% |
Total Long-Term Liabilities | $10.25B | $10.27B | $10.36B |
YoY Change | 5.93% | -0.86% | -7.29% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $673.0M | $661.0M | $559.0M |
Total Long-Term Liabilities | $10.25B | $10.27B | $10.36B |
Total Liabilities | $10.92B | $10.93B | $10.92B |
YoY Change | 4.35% | 0.12% | -6.86% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$693.7M | -$725.5M | -$627.1M |
YoY Change | -11.17% | 15.7% | 322.07% |
Common Stock | $1.538M | $1.538M | $1.536M |
YoY Change | 0.13% | 0.13% | 0.33% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $2.722M | $2.722M | $2.722M |
YoY Change | 0.0% | 0.0% | 0.0% |
Treasury Stock Shares | 78.90K shares | 78.90K shares | 78.90K shares |
Shareholders Equity | $5.786B | $5.726B | $5.852B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $18.85B | $18.79B | $18.98B |
YoY Change | 2.73% | -1.0% | 0.56% |
Cashflow Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $147.2M | $76.75M | $184.1M |
YoY Change | 6.79% | -58.3% | 44.12% |
Depreciation, Depletion And Amortization | $178.0M | $203.8M | $153.0M |
YoY Change | 8.27% | 33.2% | -2.67% |
Cash From Operating Activities | $293.1M | $159.6M | $165.8M |
YoY Change | 53.86% | -3.74% | 3.17% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$272.0M | -$201.1M | -$168.7M |
YoY Change | 29.96% | 19.21% | -31.23% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $47.30M | -$477.7M | $388.3M |
YoY Change | -110.07% | -223.02% | 274.81% |
Cash From Investing Activities | -$224.7M | -$678.8M | $219.6M |
YoY Change | -66.91% | -409.11% | -254.98% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -130.8M | -241.6M | -341.2M |
YoY Change | -25.13% | -29.19% | 63.33% |
NET CHANGE | |||
Cash From Operating Activities | 293.1M | 159.6M | 165.8M |
Cash From Investing Activities | -224.7M | -678.8M | 219.6M |
Cash From Financing Activities | -130.8M | -241.6M | -341.2M |
Net Change In Cash | -62.40M | -760.8M | 44.20M |
YoY Change | -90.59% | -1821.27% | -123.28% |
FREE CASH FLOW | |||
Cash From Operating Activities | $293.1M | $159.6M | $165.8M |
Capital Expenditures | -$272.0M | -$201.1M | -$168.7M |
Free Cash Flow | $565.1M | $360.7M | $334.5M |
YoY Change | 41.35% | 7.83% | -17.61% |
Facts In Submission
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TransactionCostsExpensed
|
254000 | USD |
bxp |
Transaction Costs Expensed
TransactionCostsExpensed
|
789000 | USD | |
CY2016Q3 | bxp |
Transaction Costs Expensed
TransactionCostsExpensed
|
249000 | USD |
bxp |
Transaction Costs Expensed
TransactionCostsExpensed
|
1187000 | USD | |
CY2015Q3 | bxp |
Weighted Average Number Of Shares Outstanding After Allocationof Undistributed Earningsto Participating Securities Basicinshares
WeightedAverageNumberOfSharesOutstandingAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasicinshares
|
153595000 | shares |
bxp |
Weighted Average Number Of Shares Outstanding After Allocationof Undistributed Earningsto Participating Securities Basicinshares
WeightedAverageNumberOfSharesOutstandingAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasicinshares
|
153426000 | shares | |
bxp |
Weighted Average Number Of Shares Outstanding After Allocationof Undistributed Earningsto Participating Securities Basicinshares
WeightedAverageNumberOfSharesOutstandingAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasicinshares
|
153681000 | shares | |
bxp |
Writeoffoffullydepreciatedrealestate
Writeoffoffullydepreciatedrealestate
|
33532000 | USD | |
bxp |
Writeoffoffullydepreciatedrealestate
Writeoffoffullydepreciatedrealestate
|
168861000 | USD | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2016-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001037540 | ||
CY2016Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
153773460 | shares |
dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
BOSTON PROPERTIES INC | ||
CY2015Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
274709000 | USD |
CY2016Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
312979000 | USD |
CY2015Q4 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
97865000 | USD |
CY2016Q3 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
76258000 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-9304000 | USD |
CY2015Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-20625000 | USD |
CY2015Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-14114000 | USD |
CY2016Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-73943000 | USD |
CY2015Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
6305687000 | USD |
CY2016Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
6326580000 | USD |
us-gaap |
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
-24302000 | USD | |
us-gaap |
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
338702000 | USD | |
CY2015Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5900000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
21000000 | USD | |
CY2016Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7100000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
23600000 | USD | |
CY2015Q4 | us-gaap |
Assets
Assets
|
18351486000 | USD |
CY2016Q3 | us-gaap |
Assets
Assets
|
18789899000 | USD |
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1763079000 | USD |
CY2015Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1387007000 | USD |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
723718000 | USD |
CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
419323000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-376072000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-304395000 | USD | |
CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
CY2016Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
CY2016Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
1.90 | |
CY2016Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.65 | |
CY2016Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.65 | |
CY2015Q3 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.65 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.95 | ||
CY2016Q3 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.65 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.95 | ||
CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
153658866 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
153851912 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
153579966 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
153773012 | shares |
CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
1536000 | USD |
CY2016Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
1538000 | USD |
us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
1783000 | USD | |
CY2015Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
164256000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
431235000 | USD | |
CY2016Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
85147000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
303081000 | USD | |
CY2015Q3 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
136542000 | USD |
us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
190624000 | USD | |
CY2016Q3 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-7838000 | USD |
us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
42173000 | USD | |
CY2015Q3 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
293742000 | USD |
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
617012000 | USD | |
CY2016Q3 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
78406000 | USD |
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
322243000 | USD | |
us-gaap |
Construction And Development Costs
ConstructionAndDevelopmentCosts
|
-251984000 | USD | |
us-gaap |
Construction And Development Costs
ConstructionAndDevelopmentCosts
|
-359716000 | USD | |
CY2015Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
763935000 | USD |
CY2016Q3 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
954013000 | USD |
us-gaap |
Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
|
173694 | shares | |
CY2015Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
402134000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
1227696000 | USD | |
CY2016Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
467623000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
1288677000 | USD | |
us-gaap |
Decrease In Restricted Cash
DecreaseInRestrictedCash
|
634165000 | USD | |
us-gaap |
Decrease In Restricted Cash
DecreaseInRestrictedCash
|
122647000 | USD | |
CY2015Q4 | us-gaap |
Deferred Costs
DeferredCosts
|
704867000 | USD |
CY2016Q3 | us-gaap |
Deferred Costs
DeferredCosts
|
680192000 | USD |
CY2015Q4 | us-gaap |
Deferred Rent Receivables Net
DeferredRentReceivablesNet
|
754883000 | USD |
CY2016Q3 | us-gaap |
Deferred Rent Receivables Net
DeferredRentReceivablesNet
|
785569000 | USD |
CY2015Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
153015000 | USD |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
475082000 | USD | |
CY2016Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
203748000 | USD |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
516371000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
475082000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
516371000 | USD | |
CY2015Q3 | us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
-627000 | USD |
us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
-1882000 | USD | |
CY2016Q3 | us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
-1190000 | USD |
us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
-2445000 | USD | |
CY2015Q3 | us-gaap |
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
|
0 | USD |
us-gaap |
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
|
0 | USD | |
CY2016Q3 | us-gaap |
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
|
-140000 | USD |
us-gaap |
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
|
-140000 | USD | |
CY2015Q3 | us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
-30156000 | USD |
us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
-18050000 | USD | |
CY2016Q3 | us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
5712000 | USD |
us-gaap |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
|
-85285000 | USD | |
CY2015Q3 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | USD |
us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | USD | |
CY2016Q3 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | USD |
us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | USD | |
CY2015Q3 | us-gaap |
Direct Costs Of Hotels
DirectCostsOfHotels
|
8125000 | USD |
us-gaap |
Direct Costs Of Hotels
DirectCostsOfHotels
|
24196000 | USD | |
CY2016Q3 | us-gaap |
Direct Costs Of Hotels
DirectCostsOfHotels
|
8118000 | USD |
us-gaap |
Direct Costs Of Hotels
DirectCostsOfHotels
|
23730000 | USD | |
CY2015Q3 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
219796000 | USD |
us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
655610000 | USD | |
CY2016Q3 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
228560000 | USD |
us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
665670000 | USD | |
us-gaap |
Dividends
Dividends
|
342453000 | USD | |
us-gaap |
Dividends
Dividends
|
342980000 | USD | |
CY2016Q3 | us-gaap |
Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
|
0.65 | |
CY2015Q3 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
112912000 | USD |
CY2015Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
327320000 | USD |
CY2016Q3 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
113038000 | USD |
CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.20 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.83 | ||
CY2016Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.50 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.31 | ||
CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.20 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.82 | ||
CY2016Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.50 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.31 | ||
us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
6484000 | USD | |
us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
11645000 | USD | |
CY2015Q4 | us-gaap |
Excess Stock Shares Authorized
ExcessStockSharesAuthorized
|
150000000 | shares |
CY2016Q3 | us-gaap |
Excess Stock Shares Authorized
ExcessStockSharesAuthorized
|
150000000 | shares |
CY2015Q4 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
0 | shares |
CY2016Q3 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
0 | shares |
CY2015Q4 | us-gaap |
Excess Stock Shares Outstanding
ExcessStockSharesOutstanding
|
0 | shares |
CY2016Q3 | us-gaap |
Excess Stock Shares Outstanding
ExcessStockSharesOutstanding
|
0 | shares |
CY2015Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
29852000 | USD |
CY2016Q3 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
31724000 | USD |
CY2015Q3 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
0 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
0 | USD | |
CY2016Q3 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-140000 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-140000 | USD | |
CY2015Q3 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-1515000 | USD |
us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-1146000 | USD | |
CY2016Q3 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
976000 | USD |
us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
1713000 | USD | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-1146000 | USD | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
1713000 | USD | |
us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
294563000 | USD | |
us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
80606000 | USD | |
CY2015Q3 | us-gaap |
Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
|
199479000 | USD |
us-gaap |
Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
|
294563000 | USD | |
CY2016Q3 | us-gaap |
Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
|
12983000 | USD |
us-gaap |
Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
|
80606000 | USD | |
CY2015Q3 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | USD |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | USD | |
CY2016Q3 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-371000 | USD |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-371000 | USD | |
CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
20944000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
72019000 | USD | |
CY2016Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
25165000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
79936000 | USD | |
CY2016Q3 | us-gaap |
General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
|
1717752 | shares |
CY2015Q3 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
0 | USD |
CY2016Q3 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
1783000 | USD |
us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
0 | USD | |
us-gaap |
Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
|
324477000 | USD | |
CY2015Q3 | us-gaap |
Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
|
123792000 | USD |
us-gaap |
Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
|
338617000 | USD | |
CY2016Q3 | us-gaap |
Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
|
58521000 | USD |
CY2015Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
2647000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
20559000 | USD | |
CY2016Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
1464000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
5489000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-2937000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
16852000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
19851000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-22135000 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
37384000 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
44242000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-73370000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-114321000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-20988000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-4883000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
0 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-6694000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
|
32750000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
|
-1675000 | USD | |
us-gaap |
Increase In Restricted Cash
IncreaseInRestrictedCash
|
200612000 | USD | |
us-gaap |
Increase In Restricted Cash
IncreaseInRestrictedCash
|
122647000 | USD | |
CY2015Q3 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
3637000 | USD |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
6337000 | USD | |
CY2016Q3 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
3628000 | USD |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
6657000 | USD | |
us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
25915000 | USD | |
us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
28956000 | USD | |
CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
108727000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
326018000 | USD | |
CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
104641000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
314953000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
347367000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
327053000 | USD | |
CY2015Q4 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
190386000 | USD |
CY2016Q3 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
234628000 | USD |
CY2015Q4 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
11709285000 | USD |
CY2016Q3 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
11792853000 | USD |
CY2015Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
235224000 | USD |
CY2016Q3 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
775659000 | USD |
CY2015Q4 | us-gaap |
Land
Land
|
4806021000 | USD |
CY2016Q3 | us-gaap |
Land
Land
|
4879020000 | USD |
CY2015Q4 | us-gaap |
Land Available For Development
LandAvailableForDevelopment
|
252195000 | USD |
CY2016Q3 | us-gaap |
Land Available For Development
LandAvailableForDevelopment
|
243887000 | USD |
CY2015Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
1920247000 | USD |
CY2016Q3 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
2001259000 | USD |
CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
10464559000 | USD |
CY2016Q3 | us-gaap |
Liabilities
Liabilities
|
10930646000 | USD |
CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
18351486000 | USD |
CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
18789899000 | USD |
CY2016Q3 | us-gaap |
Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
|
152055260 | shares |
CY2015Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
0 | USD |
CY2016Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
0 | USD |
CY2015Q4 | us-gaap |
Marketable Securities
MarketableSecurities
|
20380000 | USD |
CY2016Q3 | us-gaap |
Marketable Securities
MarketableSecurities
|
23022000 | USD |
us-gaap |
Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
|
-1586000 | USD | |
CY2015Q4 | us-gaap |
Minority Interest In Limited Partnerships
MinorityInterestInLimitedPartnerships
|
1574400000 | USD |
CY2016Q3 | us-gaap |
Minority Interest In Limited Partnerships
MinorityInterestInLimitedPartnerships
|
1525042000 | USD |
CY2015Q4 | us-gaap |
Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
|
603092000 | USD |
CY2016Q3 | us-gaap |
Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
|
608280000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1383751000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
56204000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
398801000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1104384000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
608878000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
743785000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
186729000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
442556000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
79342000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
362910000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
184082000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
434702000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
76753000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
355114000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
183861000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
434341000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
76753000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
354925000 | USD | |
CY2015Q3 | us-gaap |
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable
|
115240000 | USD |
us-gaap |
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable
|
139712000 | USD | |
CY2016Q3 | us-gaap |
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable
|
-17225000 | USD |
us-gaap |
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossLimitedPartnershipsNonredeemable
|
53000 | USD | |
CY2015Q3 | us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
21302000 | USD |
us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
50906000 | USD | |
CY2016Q3 | us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
9387000 | USD |
us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
42120000 | USD | |
CY2015Q3 | us-gaap |
Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
|
0 | USD |
us-gaap |
Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
|
6000 | USD | |
CY2016Q3 | us-gaap |
Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
|
0 | USD |
us-gaap |
Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
|
0 | USD | |
us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
0 | USD | |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
227750000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
638885000 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
157605000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
626082000 | USD | |
CY2015Q3 | us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
494300000 | USD |
us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
1471591000 | USD | |
CY2016Q3 | us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
489312000 | USD |
us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
1518826000 | USD | |
us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
-18050000 | USD | |
us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
-85285000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-29529000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-16168000 | USD | |
CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
6902000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-82840000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-7056000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-4847000 | USD | |
CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
1097000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-23011000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
-627000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
-1882000 | USD | |
CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
-1190000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
-2445000 | USD | |
us-gaap |
Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
|
1882000 | USD | |
us-gaap |
Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
|
2445000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
-30156000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
-18050000 | USD | |
CY2016Q3 | us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
5712000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
-85285000 | USD | |
CY2015Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
483601000 | USD |
CY2016Q3 | us-gaap |
Other Liabilities
OtherLiabilities
|
461079000 | USD |
CY2015Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
180000000 | USD |
CY2016Q3 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
180000000 | USD |
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
-32818000 | USD | |
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
-27386000 | USD | |
CY2015Q3 | us-gaap |
Parking Revenue
ParkingRevenue
|
25509000 | USD |
us-gaap |
Parking Revenue
ParkingRevenue
|
76849000 | USD | |
CY2016Q3 | us-gaap |
Parking Revenue
ParkingRevenue
|
24638000 | USD |
us-gaap |
Parking Revenue
ParkingRevenue
|
75576000 | USD | |
us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
84644000 | USD | |
us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
81842000 | USD | |
us-gaap |
Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
|
108499000 | USD | |
us-gaap |
Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
|
0 | USD | |
us-gaap |
Payments For Tenant Improvements
PaymentsForTenantImprovements
|
86052000 | USD | |
us-gaap |
Payments For Tenant Improvements
PaymentsForTenantImprovements
|
167762000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
1112019000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
557262000 | USD | |
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
1288000 | USD | |
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
16101000 | USD | |
us-gaap |
Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
|
0 | USD | |
us-gaap |
Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
|
78000000 | USD | |
us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
20863000 | USD | |
us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
546982000 | USD | |
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
1332000 | USD | |
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
929000 | USD | |
us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
147368000 | USD | |
us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
38694000 | USD | |
CY2015Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
2647000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
7854000 | USD | |
CY2016Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
2589000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
7796000 | USD | |
CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
200000000 | USD |
CY2016Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
200000000 | USD |
CY2015Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
185118000 | USD |
CY2016Q3 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
176693000 | USD |
us-gaap |
Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
|
1989790000 | USD | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
799000 | USD | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
-270000 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
1758000 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
6737000 | USD | |
us-gaap |
Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
|
1758000 | USD | |
us-gaap |
Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
|
6737000 | USD | |
us-gaap |
Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
|
24527000 | USD | |
us-gaap |
Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
|
0 | USD | |
us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
389457000 | USD | |
us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
122750000 | USD | |
CY2015Q3 | us-gaap |
Profit Loss
ProfitLoss
|
323271000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
633180000 | USD | |
CY2016Q3 | us-gaap |
Profit Loss
ProfitLoss
|
71504000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
405083000 | USD | |
CY2015Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
3925894000 | USD |
CY2016Q3 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
4113553000 | USD |
CY2015Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
19481535000 | USD |
CY2016Q3 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
19902756000 | USD |
CY2015Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
15555641000 | USD |
CY2016Q3 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
15789203000 | USD |
CY2015Q3 | us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
611353000 | USD |
us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
1815372000 | USD | |
CY2016Q3 | us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
606510000 | USD |
us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
1862254000 | USD | |
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
20137000 | USD | |
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
1323284000 | USD | |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-780952000 | USD |
us-gaap |
Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
|
35107000 | USD | |
CY2015Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
73790000 | USD |
CY2016Q3 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
63980000 | USD |
CY2016Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-725522000 | USD |
CY2015Q3 | us-gaap |
Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
|
12619000 | USD |
CY2016Q3 | us-gaap |
Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
|
12354000 | USD |
us-gaap |
Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
|
33919000 | USD | |
CY2015Q3 | us-gaap |
Revenues
Revenues
|
629884000 | USD |
us-gaap |
Revenues
Revenues
|
1866581000 | USD | |
CY2016Q3 | us-gaap |
Revenues
Revenues
|
625228000 | USD |
us-gaap |
Revenues
Revenues
|
1914759000 | USD | |
CY2015Q4 | us-gaap |
Secured Debt
SecuredDebt
|
3435242000 | USD |
CY2016Q3 | us-gaap |
Secured Debt
SecuredDebt
|
2077707000 | USD |
CY2015Q4 | us-gaap |
Senior Notes
SeniorNotes
|
5264819000 | USD |
CY2016Q3 | us-gaap |
Senior Notes
SeniorNotes
|
7243767000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
22825000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
25290000 | USD | |
us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
0 | USD | |
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
780000 | USD | |
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
730000 | USD | |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5709435000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5725931000 | USD |
CY2014Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
7902936000 | USD |
CY2015Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
8062759000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
7886927000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
7859253000 | USD |
us-gaap |
Straight Line Rent
StraightLineRent
|
55941000 | USD | |
us-gaap |
Straight Line Rent
StraightLineRent
|
14618000 | USD | |
CY2015Q4 | us-gaap |
Subordinated Debt
SubordinatedDebt
|
308482000 | USD |
CY2016Q3 | us-gaap |
Subordinated Debt
SubordinatedDebt
|
307448000 | USD |
CY2015Q3 | us-gaap |
Tenant Reimbursements
TenantReimbursements
|
91544000 | USD |
us-gaap |
Tenant Reimbursements
TenantReimbursements
|
266932000 | USD | |
CY2016Q3 | us-gaap |
Tenant Reimbursements
TenantReimbursements
|
92560000 | USD |
us-gaap |
Tenant Reimbursements
TenantReimbursements
|
267852000 | USD | |
CY2015Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
78900 | shares |
CY2016Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
78900 | shares |
CY2015Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2722000 | USD |
CY2016Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2722000 | USD |
CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
153786000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
153825000 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
154136000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
153971000 | shares | |
CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
153595000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
153426000 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
153754000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
153681000 | shares | |
bxp |
Schedule Of Statements Of Operations Of Unconsolidated Joint Ventures Text Bock
ScheduleOfStatementsOfOperationsOfUnconsolidatedJointVenturesTextBock
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:17px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The combined summarized statements of operations of the Company’s unconsolidated joint ventures are as follows:</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="17" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:4%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three months ended September 30,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Nine months ended September 30,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(in thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenue (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">49,002</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">125,039</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">116,881</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,753</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,896</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54,779</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">47,995</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,038</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,832</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,306</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,854</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,791</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,728</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">85,085</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,849</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating income</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,211</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,469</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,954</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,032</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other expense</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,400</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,019</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,172</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,985</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,811</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,450</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,782</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,047</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company’s share of net income </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,179</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,481</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,830</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,025</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basis differential (3)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,715</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">166</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,341</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">534</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income from unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,464</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,647</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,489</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,559</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> _______________ </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes straight-line rent adjustments of approximately </font><font style="font-family:inherit;font-size:10pt;">$5.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$(0.3) million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, and approximately </font><font style="font-family:inherit;font-size:10pt;">$11.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company received a distribution of approximately </font><font style="font-family:inherit;font-size:10pt;">$24.5 million</font><font style="font-family:inherit;font-size:10pt;">, which was generated from the excess loan proceeds from the refinancing of 901 New York Avenue’s mortgage loan to a new </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;">-year mortgage loan totaling </font><font style="font-family:inherit;font-size:10pt;">$225.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company’s allocation of income and distributions for the </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> was not proportionate to its nominal ownership interest as a result of the achievement of specified investment return thresholds, as provided for in the joint venture agreement.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes a straight-line rent adjustment of approximately </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;"> and a net above-/below-market rent adjustment of approximately </font><font style="font-family:inherit;font-size:10pt;">$0.5 million</font><font style="font-family:inherit;font-size:10pt;"> for the three and nine months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;">. </font></div></td></tr></table></div> |