$ELME
Elme Communities

2016 Q2 Form 10-Q Financial Statement

#000010489416000189 Filed on August 01, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $79.41M $74.23M
YoY Change 6.98% 2.73%
Cost Of Revenue $28.18M $27.23M
YoY Change 3.49% 6.66%
Gross Profit $51.23M $47.00M
YoY Change 9.01% 0.57%
Gross Profit Margin 64.52% 63.32%
Selling, General & Admin $4.970M $4.280M
YoY Change 16.12% -11.39%
% of Gross Profit 9.7% 9.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.20M $25.50M
YoY Change -1.18% 4.51%
% of Gross Profit 49.19% 54.26%
Operating Expenses $58.65M $63.91M
YoY Change -8.23% 12.74%
Operating Profit $44.87M $11.77M
YoY Change 281.21% -27.05%
Interest Expense $13.82M $14.70M
YoY Change -5.99% -1.9%
% of Operating Profit 30.8% 124.9%
Other Income/Expense, Net -$13.04M -$14.66M
YoY Change -10.99% -0.75%
Pretax Income $31.13M -$2.860M
YoY Change -1188.46% -308.76%
Income Tax -$693.0K $28.00K
% Of Pretax Income -2.23%
Net Earnings $31.84M -$2.546M
YoY Change -1350.43% -334.22%
Net Earnings / Revenue 40.09% -3.43%
Basic Earnings Per Share $0.44 -$0.04
Diluted Earnings Per Share $0.44 -$0.04
COMMON SHARES
Basic Shares Outstanding 71.72M shares 68.18M shares
Diluted Shares Outstanding 71.91M shares 68.18M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.40M $22.80M
YoY Change -1.75% -0.87%
Cash & Equivalents $22.38M $22.78M
Short-Term Investments
Other Short-Term Assets $99.20M $117.7M
YoY Change -15.72% 4.62%
Inventory
Prepaid Expenses
Receivables $59.00M $61.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $180.6M $202.1M
YoY Change -10.64% 5.76%
LONG-TERM ASSETS
Property, Plant & Equipment $2.068B $1.875B
YoY Change 10.32% 0.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $57.90M $13.70M
YoY Change 322.63% 20.18%
Total Long-Term Assets $2.126B $1.883B
YoY Change 12.88% 0.76%
TOTAL ASSETS
Total Short-Term Assets $180.6M $202.1M
Total Long-Term Assets $2.126B $1.883B
Total Assets $2.306B $2.085B
YoY Change 10.6% 1.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.70M $50.30M
YoY Change 4.77% -15.75%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.00M $59.40M
YoY Change 2.69% -13.16%
LONG-TERM LIABILITIES
Long-Term Debt $1.265B $1.202B
YoY Change 5.21% 4.19%
Other Long-Term Liabilities $12.50M $13.70M
YoY Change -8.76% 3.79%
Total Long-Term Liabilities $1.277B $1.216B
YoY Change 5.05% 4.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.00M $59.40M
Total Long-Term Liabilities $1.277B $1.216B
Total Liabilities $1.338B $1.275B
YoY Change 4.95% 3.22%
SHAREHOLDERS EQUITY
Retained Earnings -$366.4M -$379.6M
YoY Change -3.48% 14.55%
Common Stock $737.0K $682.0K
YoY Change 8.06% 2.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $966.9M $812.7M
YoY Change
Total Liabilities & Shareholders Equity $2.306B $2.090B
YoY Change 10.35% 1.46%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $31.84M -$2.546M
YoY Change -1350.43% -334.22%
Depreciation, Depletion And Amortization $25.20M $25.50M
YoY Change -1.18% 4.51%
Cash From Operating Activities $28.20M $18.60M
YoY Change 51.61% 12.05%
INVESTING ACTIVITIES
Capital Expenditures $226.6M $11.00M
YoY Change 1960.0% -91.09%
Acquisitions
YoY Change
Other Investing Activities $103.2M -$6.300M
YoY Change -1738.1% -107.11%
Cash From Investing Activities -$123.4M -$17.40M
YoY Change 609.2% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 94.00M -18.50M
YoY Change -608.11% -11.48%
NET CHANGE
Cash From Operating Activities 28.20M 18.60M
Cash From Investing Activities -123.4M -17.40M
Cash From Financing Activities 94.00M -18.50M
Net Change In Cash -1.200M -17.30M
YoY Change -93.06% -55.75%
FREE CASH FLOW
Cash From Operating Activities $28.20M $18.60M
Capital Expenditures $226.6M $11.00M
Free Cash Flow -$198.4M $7.600M
YoY Change -2710.53% -107.11%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Period End Date
DocumentPeriodEndDate
2016-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000104894
CY2016Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
73633233 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
WASHINGTON REAL ESTATE INVESTMENT TRUST
CY2015Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
62890000 USD
CY2016Q2 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
58970000 USD
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
45367000 USD
CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
52722000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-550000 USD
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-5609000 USD
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1193298000 USD
CY2016Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1338101000 USD
CY2015Q4 us-gaap Advance Rent
AdvanceRent
12744000 USD
CY2016Q2 us-gaap Advance Rent
AdvanceRent
10178000 USD
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3100000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1008000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
36389000 USD
CY2015Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
79609000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
159789000 USD
CY2016Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
82304000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
164823000 USD
CY2015Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
992000 USD
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
900000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2400000 USD
CY2015Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
2297000 USD
CY2016Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
2010000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1854000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1604000 USD
CY2015Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
197000 sqft
CY2016Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
1183000 sqft
CY2015Q2 us-gaap Assets
Assets
2085389000 USD
CY2015Q4 us-gaap Assets
Assets
2191168000 USD
CY2016Q2 us-gaap Assets
Assets
2306451000 USD
CY2015Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-0.02
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.43
CY2016Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.45
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.52
CY2015Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-1136000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
29765000 USD
CY2016Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
32595000 USD
CY2016Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1024000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1178000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15827000 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22778000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23825000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22379000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
6951000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1446000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
1700000 USD
CY2015Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.6
CY2016Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.6
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
68191000 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
73651000 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
68191000 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
73651000 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
682000 USD
CY2016Q2 us-gaap Common Stock Value
CommonStockValue
737000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2546000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
26960000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30452000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
29161000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2886000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
26512000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
30437000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
29141000 USD
CY2015Q2 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
27229000 USD
us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
56437000 USD
CY2016Q2 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
28175000 USD
us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
56909000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-732000 USD
CY2015Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25503000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
50778000 USD
CY2016Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25161000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
51199000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
50778000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
51199000 USD
CY2015Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
550000 USD
CY2016Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
5609000 USD
CY2015Q4 us-gaap Development In Process
DevelopmentInProcess
36094000 USD
CY2016Q2 us-gaap Development In Process
DevelopmentInProcess
35760000 USD
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
137100000 USD
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
0 USD
CY2016Q2 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
5147000 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
8288000 USD
us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
15882000 USD
CY2016Q2 us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
8147000 USD
us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
16577000 USD
CY2015Q2 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
1454000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
31731000 USD
CY2015 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
89653000 USD
CY2016Q2 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
24112000 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
24112000 USD
us-gaap Dividends
Dividends
42791000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
20434000 USD
CY2016Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2015Q2 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
2719000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
4437000 USD
CY2016Q2 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
4176000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
6902000 USD
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2015Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-119000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-119000 USD
CY2016Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
31731000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
24112000 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4278000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10358000 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4968000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10479000 USD
CY2015Q2 us-gaap Gross Profit
GrossProfit
46997000 USD
us-gaap Gross Profit
GrossProfit
92645000 USD
CY2016Q2 us-gaap Gross Profit
GrossProfit
51230000 USD
us-gaap Gross Profit
GrossProfit
99633000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2886000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
26512000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
31821000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
34200000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-693000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-693000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2550000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3175000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
758000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
983000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
2392000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-2001000 USD
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
124000 shares
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
193000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
190000 shares
CY2015Q2 us-gaap Interest Expense
InterestExpense
14700000 USD
us-gaap Interest Expense
InterestExpense
30048000 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
13820000 USD
us-gaap Interest Expense
InterestExpense
28180000 USD
us-gaap Interest Paid Net
InterestPaidNet
30117000 USD
us-gaap Interest Paid Net
InterestPaidNet
27154000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
60454000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-2546000 USD
us-gaap Net Income Loss
NetIncomeLoss
26960000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
31836000 USD
CY2016Q2 us-gaap Land
Land
573315000 USD
us-gaap Net Income Loss
NetIncomeLoss
34220000 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-340000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-448000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-15000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-20000 USD
CY2015Q4 us-gaap Land
Land
561256000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-14655000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-29811000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
1354156000 USD
CY2016Q2 us-gaap Liabilities
Liabilities
1338341000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2191168000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2306451000 USD
CY2015Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
0 USD
CY2016Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
2338000 USD
CY2015Q4 us-gaap Line Of Credit
LineOfCredit
105000000 USD
CY2016Q2 us-gaap Line Of Credit
LineOfCredit
269000000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
1363000 USD
CY2016Q2 us-gaap Minority Interest
MinorityInterest
1233000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
110000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-53489000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
77511000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6108000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-139411000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
54332000 USD
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-13044000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-27365000 USD
CY2015Q4 us-gaap Notes Payable
NotesPayable
743181000 USD
CY2016Q2 us-gaap Notes Payable
NotesPayable
743769000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
63911000 USD
us-gaap Operating Expenses
OperatingExpenses
124490000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
58652000 USD
us-gaap Operating Expenses
OperatingExpenses
119089000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
11769000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
56323000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
44865000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
61565000 USD
CY2015Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
1408000 USD
CY2015Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
0 USD
CY2016Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
-1384000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
-5059000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5059000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
192000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
384000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
83000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
122000 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
3755000 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
236000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
12391000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
16356000 USD
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
3000000 USD
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
41019000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
63284000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
243400000 USD
us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
184855000 USD
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
38922000 USD
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
15969000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1836000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
42000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
227413000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
13332000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
17997000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
110000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
109787000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
99150000 USD
us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
3425000 USD
us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
0 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
883000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5121000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
143357000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
5000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
0 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
135000000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
164000000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
39059000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
119513000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-2886000 USD
us-gaap Profit Loss
ProfitLoss
26512000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
31821000 USD
us-gaap Profit Loss
ProfitLoss
34200000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1126000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
708000 USD
CY2015Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2016Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
41704000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
692608000 USD
CY2016Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
613194000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2637797000 USD
CY2016Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2645481000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1981283000 USD
CY2016Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2068047000 USD
CY2015Q4 us-gaap Real Estate Investments
RealEstateInvestments
1945189000 USD
CY2016Q2 us-gaap Real Estate Investments
RealEstateInvestments
2032287000 USD
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
74226000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
149082000 USD
CY2016Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
79405000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
156542000 USD
CY2015Q4 us-gaap Rental Properties
RentalProperties
2076541000 USD
CY2016Q2 us-gaap Rental Properties
RentalProperties
2072166000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2266000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
166216000 USD
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
150000000 USD
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13383000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11054000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-357781000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-366352000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
418052000 USD
CY2016Q2 us-gaap Secured Debt
SecuredDebt
252044000 USD
CY2015Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
9378000 USD
CY2016Q2 us-gaap Security Deposit Liability
SecurityDepositLiability
8290000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3073000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2421000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
143357000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1501000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
835649000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
966877000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
837012000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
968110000 USD
CY2015Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
80000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
165000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
99000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
155000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68176000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68283000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71912000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70200000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68176000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68159000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71719000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70010000 shares
CY2015Q2 wre Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
-2626000 USD
wre Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
26795000 USD
CY2016Q2 wre Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
31737000 USD
wre Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
34065000 USD
CY2015Q2 wre Capital Expenditures
CapitalExpenditures
8070000 USD
wre Capital Expenditures
CapitalExpenditures
14227000 USD
CY2016Q2 wre Capital Expenditures
CapitalExpenditures
11669000 USD
wre Capital Expenditures
CapitalExpenditures
16398000 USD
CY2015Q2 wre Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
5909000 USD
wre Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
5909000 USD
CY2016Q2 wre Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
-676000 USD
wre Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
-676000 USD
wre Commercial Paper Maturity
CommercialPaperMaturity
90
CY2016Q2 wre Disposal Group Not Discontinued Operation Sale Price
DisposalGroupNotDiscontinuedOperationSalePrice
252100000 USD
wre Increase Decreasein Accrued Capital Improvements
IncreaseDecreaseinAccruedCapitalImprovements
-383000 USD
wre Increase Decreasein Accrued Capital Improvements
IncreaseDecreaseinAccruedCapitalImprovements
-3472000 USD
CY2016Q2 wre Leasing Commissions Absorption Costs
LeasingCommissionsAbsorptionCosts
4992000 USD
CY2016Q2 wre Net Lease Intangible Assets
NetLeaseIntangibleAssets
22000 USD
CY2016Q2 wre Net Lease Intangible Liabilities
NetLeaseIntangibleLiabilities
10000 USD
wre Percentage Of Distribution Of Ordinary Taxable Income
PercentageOfDistributionOfOrdinaryTaxableIncome
0.9
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">NATURE OF BUSINESS</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Washington Real Estate Investment Trust (&#8220;Washington REIT&#8221;), a Maryland real estate investment trust, is a self-administered, self-managed equity real estate investment trust, successor to a trust organized in 1960. Our business consists of the ownership and operation of income-producing real estate properties in the greater Washington metro region. We own a diversified portfolio of office buildings, multifamily buildings and retail centers. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Federal Income Taxes</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We believe that we qualify as a real estate investment trust (&#8220;REIT&#8221;) under Sections 856-860 of the Internal Revenue Code and intend to continue to qualify as such. To maintain our status as a REIT, we are, among other things, required to distribute </font><font style="font-family:inherit;font-size:10pt;">90%</font><font style="font-family:inherit;font-size:10pt;"> of our REIT taxable income (which is, generally, our ordinary taxable income, with certain modifications), excluding any net capital gains and any deductions for dividends paid to our shareholders on an annual basis. When selling a property, we generally have the option of (a)&#160;reinvesting the sales proceeds of property sold, in a way that allows us to defer recognition of some or all taxable gain realized on the sale, (b)&#160;distributing the gain to the shareholders with no tax to us or (c)&#160;retaining our net long-term capital gain but treating it as having been distributed to our shareholders, paying the tax on the gain deemed distributed and allocating the tax paid as a credit to our shareholders. During the six months ended </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;">, we sold the following properties:</font></div><div style="line-height:120%;text-align:center;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;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:57%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" 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:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Disposition Date</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;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Name</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;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Segment</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;">&#160;</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;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gain on Sale<br clear="none"/>(in&#160;thousands)</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;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;">May&#160;26, 2016</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;">&#160;</font></div></td><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="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dulles Station, Phase II </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></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;">&#160;</font></div></td><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:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Office</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;">&#160;</font></div></td><td style="vertical-align:top;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:top;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;">527</font></div></td><td style="vertical-align:bottom;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></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;">June&#160;27, 2016</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;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maryland Office Portfolio Transaction I </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></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;">&#160;</font></div></td><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:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Office</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;">&#160;</font></div></td><td colspan="2" style="vertical-align:top;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;">23,585</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></tr><tr><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;">&#160;</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;">&#160;</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;">&#160;</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;">&#160;</font></div></td><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:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</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;">&#160;</font></div></td><td style="vertical-align:top;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:top;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;">24,112</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></tr></table></div></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" 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:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;font-style:italic;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">Land held for future development and an interest in a parking garage.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" 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:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;font-style:italic;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">Maryland Office Portfolio Transaction I consists of 6110 Executive Boulevard, Wayne Plaza, 600 Jefferson Plaza and West Gude Drive. Maryland Office Portfolio Transaction II, which consists of 51 Monroe Street and One Central Plaza, is scheduled to close in September 2016. </font><font style="font-family:inherit;font-size:8pt;font-style:italic;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#160;&#160;&#160;&#160;</sup>&#160;</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The taxable gains for the properties sold during the three months ended June 30, 2016 will be distributed to shareholders through the quarterly dividends. The properties included in Maryland Office Portfolio Transaction II have been identified for a reverse tax deferred exchange under Section 1031 of the Internal Revenue Code. We acquired the replacement property, Riverside Apartments, during the three months ended June 30, 2016 (see note 3, under "Acquisition").</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Generally, and subject to our ongoing qualification as a REIT, no provisions for income taxes are necessary except for taxes on undistributed taxable income and taxes on the income generated by our taxable REIT subsidiaries (&#8220;TRSs&#8221;). Our TRSs are subject to corporate federal and state income tax on their taxable income at regular statutory rates, or as calculated under the alternative minimum tax, as appropriate. During the second quarter of 2016, we recognized an income tax benefit of </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;"> from a reduction of the reserve for a deferred tax asset at one of our taxable REIT subsidiaries. As of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;">, our TRSs had net deferred tax assets of </font><font style="font-family:inherit;font-size:10pt;">$0.6 million</font><font style="font-family:inherit;font-size:10pt;">. Our TRSs had </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> net deferred tax assets as of December 31, 2015. As of June 30, 2016 and December 31, 2015, our TRSs had net deferred tax liabilities of </font><font style="font-family:inherit;font-size:10pt;">$0.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. These deferred tax liabilities are primarily related to temporary differences in the timing of the recognition of revenue, amortization and depreciation.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates in the Financial Statements</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

Files In Submission

Name View Source Status
0000104894-16-000189-index-headers.html Edgar Link pending
0000104894-16-000189-index.html Edgar Link pending
0000104894-16-000189.txt Edgar Link pending
0000104894-16-000189-xbrl.zip Edgar Link pending
ex1049-riversidepsa.htm Edgar Link pending
ex1050-marylandpsa1.htm Edgar Link pending
ex1051-marylandpsa2.htm Edgar Link pending
ex1052-firstamendmenttomar.htm Edgar Link pending
exhibit12-q2201610xq.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
wre-06302016x10xq.htm Edgar Link pending
wre-06302016xexhibit311.htm Edgar Link pending
wre-06302016xexhibit312.htm Edgar Link pending
wre-06302016xexhibit313.htm Edgar Link pending
wre-06302016xexhibit32.htm Edgar Link pending
wre-20160630.xml Edgar Link completed
wre-20160630.xsd Edgar Link pending
wre-20160630_cal.xml Edgar Link unprocessable
wre-20160630_def.xml Edgar Link unprocessable
wre-20160630_lab.xml Edgar Link unprocessable
wre-20160630_pre.xml Edgar Link unprocessable