2016 Q4 Form 10-Q Financial Statement
#000010489416000203 Filed on November 02, 2016
Income Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
Revenue | $76.95M | $79.77M | $78.24M |
YoY Change | -2.72% | 1.95% | 6.58% |
Cost Of Revenue | $28.94M | $29.16M | $28.11M |
YoY Change | 4.51% | 3.74% | 8.49% |
Gross Profit | $48.01M | $50.61M | $50.13M |
YoY Change | -6.61% | 0.94% | 5.55% |
Gross Profit Margin | 62.39% | 63.44% | 64.07% |
Selling, General & Admin | $4.530M | $4.540M | $4.910M |
YoY Change | -7.93% | -7.54% | 8.63% |
% of Gross Profit | 9.44% | 8.97% | 9.79% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $26.30M | $30.90M | $29.30M |
YoY Change | -8.68% | 5.46% | 20.58% |
% of Gross Profit | 54.78% | 61.06% | 58.44% |
Operating Expenses | $30.83M | $64.61M | $63.30M |
YoY Change | -8.6% | 2.07% | 15.38% |
Operating Profit | $17.18M | $92.75M | $14.95M |
YoY Change | -2.83% | 520.64% | -19.45% |
Interest Expense | -$11.77M | $13.17M | $14.49M |
YoY Change | -21.59% | -9.06% | -3.98% |
% of Operating Profit | -68.51% | 14.2% | 96.93% |
Other Income/Expense, Net | $90.00K | -$13.09M | -$14.37M |
YoY Change | -43.75% | -8.86% | -3.56% |
Pretax Income | $5.500M | $79.66M | $620.0K |
YoY Change | -91.14% | 12748.39% | -83.06% |
Income Tax | $80.00K | $2.000K | $42.00K |
% Of Pretax Income | 1.45% | 0.0% | 6.77% |
Net Earnings | $5.445M | $79.67M | $647.0K |
YoY Change | -91.24% | 12214.37% | -82.36% |
Net Earnings / Revenue | 7.08% | 99.88% | 0.83% |
Basic Earnings Per Share | $0.07 | $1.07 | $0.01 |
Diluted Earnings Per Share | $0.07 | $1.07 | $0.01 |
COMMON SHARES | |||
Basic Shares Outstanding | 74.58M shares | 73.99M shares | 68.19M shares |
Diluted Shares Outstanding | 74.13M shares | 68.31M shares |
Balance Sheet
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $11.30M | $8.600M | $21.00M |
YoY Change | -52.52% | -59.05% | 144.19% |
Cash & Equivalents | $11.31M | $8.588M | $21.01M |
Short-Term Investments | |||
Other Short-Term Assets | $103.5M | $100.8M | $122.6M |
YoY Change | -5.74% | -17.78% | 5.42% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $64.30M | $63.00M | $62.30M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $179.1M | $172.4M | $205.9M |
YoY Change | -8.85% | -16.27% | 12.51% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.068B | $2.068B | $2.005B |
YoY Change | 4.39% | 3.14% | 7.41% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $6.300M | $10.10M | $17.80M |
YoY Change | -52.99% | -43.26% | 87.37% |
Total Long-Term Assets | $2.075B | $2.078B | $2.017B |
YoY Change | 4.0% | 3.0% | 7.52% |
TOTAL ASSETS | |||
Total Short-Term Assets | $179.1M | $172.4M | $205.9M |
Total Long-Term Assets | $2.075B | $2.078B | $2.017B |
Total Assets | $2.254B | $2.250B | $2.223B |
YoY Change | 2.85% | 1.22% | 7.96% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $47.00M | $54.60M | $54.10M |
YoY Change | 3.52% | 0.92% | -15.73% |
Accrued Expenses | |||
YoY Change | |||
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 | $78.20M | $63.20M | $63.30M |
YoY Change | 3.99% | -0.16% | -13.05% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.112B | $1.120B | $1.362B |
YoY Change | -12.21% | -17.73% | 16.85% |
Other Long-Term Liabilities | $11.80M | $10.50M | $11.10M |
YoY Change | -7.09% | -5.41% | -9.02% |
Total Long-Term Liabilities | $1.123B | $1.131B | $1.373B |
YoY Change | -12.16% | -17.63% | 16.58% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $78.20M | $63.20M | $63.30M |
Total Long-Term Liabilities | $1.123B | $1.131B | $1.373B |
Total Liabilities | $1.202B | $1.194B | $1.436B |
YoY Change | -11.27% | -16.87% | 14.87% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$326.0M | -$309.0M | -$399.4M |
YoY Change | -8.87% | -22.63% | 14.87% |
Common Stock | $746.0K | $745.0K | $682.0K |
YoY Change | 9.38% | 9.24% | 2.25% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.051B | $1.055B | $791.2M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $2.254B | $2.250B | $2.229B |
YoY Change | 2.85% | 0.97% | 8.23% |
Cashflow Statement
Concept | 2016 Q4 | 2016 Q3 | 2015 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $5.445M | $79.67M | $647.0K |
YoY Change | -91.24% | 12214.37% | -82.36% |
Depreciation, Depletion And Amortization | $26.30M | $30.90M | $29.30M |
YoY Change | -8.68% | 5.46% | 20.58% |
Cash From Operating Activities | $28.90M | $25.30M | $21.90M |
YoY Change | -12.69% | 15.53% | -7.98% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $19.50M | $22.10M | $159.7M |
YoY Change | 4.28% | -86.16% | 1024.65% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$4.900M | $122.4M | -$1.800M |
YoY Change | -105.82% | -6900.0% | -88.16% |
Cash From Investing Activities | -$24.40M | $100.3M | -$161.5M |
YoY Change | -137.2% | -162.11% | 447.46% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -8.900M | -139.4M | 137.8M |
YoY Change | -90.4% | -201.16% | -1683.91% |
NET CHANGE | |||
Cash From Operating Activities | 28.90M | 25.30M | 21.90M |
Cash From Investing Activities | -24.40M | 100.3M | -161.5M |
Cash From Financing Activities | -8.900M | -139.4M | 137.8M |
Net Change In Cash | -4.400M | -13.80M | -1.800M |
YoY Change | -173.33% | 666.67% | -87.5% |
FREE CASH FLOW | |||
Cash From Operating Activities | $28.90M | $25.30M | $21.90M |
Capital Expenditures | $19.50M | $22.10M | $159.7M |
Free Cash Flow | $9.400M | $3.200M | -$137.8M |
YoY Change | -34.72% | -102.32% | -1535.42% |
Facts In Submission
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General And Administrative Expense
GeneralAndAdministrativeExpense
|
4911000 | USD |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
2897000 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
15269000 | USD | |
CY2016Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4539000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
15018000 | USD | |
CY2015Q3 | us-gaap |
Gross Profit
GrossProfit
|
50134000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
142779000 | USD | |
CY2016Q3 | us-gaap |
Gross Profit
GrossProfit
|
50606000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
150239000 | USD | |
CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
580000 | USD |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
27092000 | USD | |
CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
79662000 | USD |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
113862000 | USD | |
CY2015Q3 | us-gaap |
Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
|
2415000 | USD |
us-gaap |
Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
|
6852000 | USD | |
CY2016Q3 | us-gaap |
Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
|
2474000 | USD |
us-gaap |
Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
|
9376000 | USD | |
CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
42000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
70000 | USD | |
CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-691000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-3531000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1394000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
9733000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
12864000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-1947000 | USD | |
CY2015Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
119000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
122000 | shares | |
CY2016Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
139000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
172000 | shares | |
CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
14486000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
44534000 | USD | |
CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
13173000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
41353000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
38023000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
34421000 | USD | |
CY2015Q4 | us-gaap |
Land
Land
|
561256000 | USD |
CY2016Q3 | us-gaap |
Land
Land
|
573315000 | USD |
CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
1354156000 | USD |
CY2016Q3 | us-gaap |
Liabilities
Liabilities
|
1194031000 | USD |
CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
2191168000 | USD |
CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
2250490000 | USD |
CY2015Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
105000000 | USD |
CY2016Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
125000000 | USD |
CY2015Q4 | us-gaap |
Minority Interest
MinorityInterest
|
1363000 | USD |
CY2016Q3 | us-gaap |
Minority Interest
MinorityInterest
|
1188000 | USD |
us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
143000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
84323000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-61015000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-155350000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-39097000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
76212000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
84875000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
647000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
27607000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
79674000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
113894000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-67000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-515000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-12000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-32000 | USD | |
CY2015Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-14365000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-44176000 | USD | |
CY2016Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-13092000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-40457000 | USD | |
CY2015Q4 | us-gaap |
Notes Payable
NotesPayable
|
743181000 | USD |
CY2016Q3 | us-gaap |
Notes Payable
NotesPayable
|
744063000 | USD |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | segment | |
CY2015Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
63298000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
187788000 | USD | |
CY2016Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
64608000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
183697000 | USD | |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
14945000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
71268000 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
92754000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
154319000 | USD | |
CY2015Q4 | us-gaap |
Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
|
1408000 | USD |
CY2015Q3 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
|
-2288000 | USD |
us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
|
-2288000 | USD | |
CY2016Q3 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
|
739000 | USD |
us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent
|
-4320000 | USD | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-4320000 | USD | |
CY2015Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
163000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
547000 | USD | |
CY2016Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
83000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
205000 | USD | |
us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
4910000 | USD | |
us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
1508000 | USD | |
us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
23085000 | USD | |
us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
38202000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
61510000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
85648000 | USD | |
us-gaap |
Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
|
243400000 | USD | |
CY2016Q2 | us-gaap |
Payments To Acquire Buildings
PaymentsToAcquireBuildings
|
184855000 | USD |
CY2016Q2 | us-gaap |
Payments To Acquire Land
PaymentsToAcquireLand
|
38922000 | USD |
CY2016Q2 | us-gaap |
Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
|
15969000 | USD |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
2116000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
278000 | USD | |
us-gaap |
Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
|
151682000 | USD | |
us-gaap |
Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
|
227413000 | USD | |
us-gaap |
Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
|
29136000 | USD | |
us-gaap |
Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
|
19658000 | USD | |
us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
0 | USD | |
us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
143000 | 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
|
10000000 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2016Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2015Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
109787000 | USD |
CY2016Q3 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
100788000 | USD |
us-gaap |
Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
|
4017000 | 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
|
5079000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
172936000 | USD | |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
0 | USD | |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
545000 | 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
|
145000000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
20000000 | USD | |
us-gaap |
Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
|
150000000 | USD | |
us-gaap |
Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
|
0 | USD | |
us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
53566000 | USD | |
us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
243624000 | USD | |
CY2015Q3 | us-gaap |
Profit Loss
ProfitLoss
|
580000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
27092000 | USD | |
CY2016Q3 | us-gaap |
Profit Loss
ProfitLoss
|
79662000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
113862000 | USD | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
1337000 | USD | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
1163000 | USD | |
CY2015Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
692608000 | USD |
CY2016Q3 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
634945000 | USD |
CY2015Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
2637797000 | USD |
CY2016Q3 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
2665516000 | USD |
CY2015Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
1981283000 | USD |
CY2016Q3 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
2068034000 | USD |
CY2015Q4 | us-gaap |
Real Estate Investments
RealEstateInvestments
|
1945189000 | USD |
CY2015Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
47000 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
184000 | USD | |
CY2016Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
200000 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
329000 | USD | |
CY2016Q3 | us-gaap |
Real Estate Investments
RealEstateInvestments
|
2030571000 | USD |
CY2015Q3 | us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
78243000 | USD |
us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
227325000 | USD | |
CY2016Q3 | us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
79770000 | USD |
us-gaap |
Real Estate Revenue Net
RealEstateRevenueNet
|
236312000 | USD | |
CY2015Q4 | us-gaap |
Rental Properties
RentalProperties
|
2076541000 | USD |
CY2016Q3 | us-gaap |
Rental Properties
RentalProperties
|
2092201000 | USD |
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
3358000 | USD | |
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
167197000 | 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 |
CY2016Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
10091000 | USD |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-357781000 | USD |
CY2016Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-309042000 | USD |
CY2015Q4 | us-gaap |
Secured Debt
SecuredDebt
|
418052000 | USD |
CY2016Q3 | us-gaap |
Secured Debt
SecuredDebt
|
251232000 | USD |
CY2015Q4 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
9378000 | USD |
CY2016Q3 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
8634000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3962000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2736000 | USD | |
us-gaap |
Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
|
545000 | USD | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
172936000 | USD | |
us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
1722000 | USD | |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
835649000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1055271000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
837012000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1056459000 | USD |
CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68305000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68290000 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
74133000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
71520000 | shares | |
CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68186000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68168000 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
73994000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
71348000 | shares | |
CY2015Q3 | wre |
Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
|
600000 | USD |
wre |
Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
|
27423000 | USD | |
CY2016Q3 | wre |
Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
|
79474000 | USD |
wre |
Adjusted Net Income Attributable To Controlling Interests Income Numerator
AdjustedNetIncomeAttributableToControllingInterestsIncomeNumerator
|
113565000 | USD | |
CY2015Q3 | wre |
Capital Expenditures
CapitalExpenditures
|
10974000 | USD |
wre |
Capital Expenditures
CapitalExpenditures
|
25201000 | USD | |
CY2016Q3 | wre |
Capital Expenditures
CapitalExpenditures
|
22099000 | USD |
wre |
Capital Expenditures
CapitalExpenditures
|
38497000 | USD | |
CY2015Q3 | wre |
Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
|
0 | USD |
wre |
Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
|
5909000 | USD | |
CY2016Q3 | wre |
Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
|
0 | USD |
wre |
Casualtygainandrealestateimpairmentlossnet
Casualtygainandrealestateimpairmentlossnet
|
-676000 | USD | |
wre |
Commercial Paper Maturity
CommercialPaperMaturity
|
90 | ||
wre |
Increase Decreasein Accrued Capital Improvements
IncreaseDecreaseinAccruedCapitalImprovements
|
-656000 | USD | |
wre |
Increase Decreasein Accrued Capital Improvements
IncreaseDecreaseinAccruedCapitalImprovements
|
-2622000 | 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 |
Fiscal Period
FiscalPeriod
|
<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;">Significant Accounting Policies</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;">We have prepared our consolidated financial statements using the accounting policies described in our Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font></div></div> | ||
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 (“Washington REIT”), 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%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We believe that we qualify as a real estate investment trust (“REIT”) 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) 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) distributing the gain to the shareholders with no tax to us or (c) 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 </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;">, 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:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:56%;" 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;"> </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;"> </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;"> </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 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 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;"> </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;"> </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;"> </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 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;"> </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;"> </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;"> </font></div></td><td colspan="2" style="vertical-align:top;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;" 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;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;">September 22, 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;"> </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;">Maryland Office Portfolio Transaction II </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</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;"> </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;"> </font></div></td><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;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;">77,592</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;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></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;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 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 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 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;font-weight:bold;">Total</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 style="vertical-align:top;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom: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;">$</font></div></td><td style="vertical-align:top;border-bottom:3px double #000000;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;">101,704</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;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> </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> </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. </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">(3)</sup> </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 II consists of 51 Monroe Street and One Central Plaza. </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">    </sup> </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 Dulles Station II and the properties included in Maryland Office Portfolio Transaction I will be distributed to shareholders through the quarterly dividends. The properties included in Maryland Office Portfolio Transaction II were identified for a reverse tax deferred exchange under Section 1031 of the Internal Revenue Code. We acquired the replacement property, Riverside Apartments, during the second quarter of 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 (“TRSs”). 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;">September 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 </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;"> 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> |