$LXP
LXP Industrial Trust

2021 Q2 Form 10-Q Financial Statement

#000144483821000023 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $81.54M $81.79M
YoY Change -0.31% 2.07%
Cost Of Revenue $20.74M $9.300M
YoY Change 122.97% 5.68%
Gross Profit $153.4M $72.50M
YoY Change 111.53% 1.68%
Gross Profit Margin 188.08% 88.64%
Selling, General & Admin $18.16M $8.600M
YoY Change 111.12% 3.61%
% of Gross Profit 11.84% 11.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $85.22M $39.80M
YoY Change 114.12% 8.15%
% of Gross Profit 55.57% 54.9%
Operating Expenses $103.4M $48.40M
YoY Change 113.59% 7.32%
Operating Profit $49.99M $24.10M
YoY Change 107.41% -8.02%
Interest Expense $11.47M $14.17M
YoY Change -19.0% -16.8%
% of Operating Profit 22.95% 58.78%
Other Income/Expense, Net $4.000K $84.00K
YoY Change -95.24% -90.81%
Pretax Income $74.22M $19.65M
YoY Change 277.68% -18.94%
Income Tax $344.0K $422.0K
% Of Pretax Income 0.46% 2.15%
Net Earnings $72.68M $18.87M
YoY Change 285.23% -19.14%
Net Earnings / Revenue 89.13% 23.07%
Basic Earnings Per Share $0.26 $0.07
Diluted Earnings Per Share $0.26 $0.06
COMMON SHARES
Basic Shares Outstanding 275.6M shares 264.8M shares
Diluted Shares Outstanding 277.5M shares 269.1M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $196.4M $67.00M
YoY Change 193.11% 52.97%
Cash & Equivalents $196.4M $67.04M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $2.160M $1.841M
Other Receivables $0.00 $0.00
Total Short-Term Assets $265.7M $139.1M
YoY Change 91.04% 27.26%
LONG-TERM ASSETS
Property, Plant & Equipment $3.295B $3.142B
YoY Change 4.85% 21.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $54.06M $56.04M
YoY Change -3.54% -6.39%
Other Assets $33.19M $44.90M
YoY Change -26.08% -79.52%
Total Long-Term Assets $3.396B $3.254B
YoY Change 4.33% 12.7%
TOTAL ASSETS
Total Short-Term Assets $265.7M $139.1M
Total Long-Term Assets $3.396B $3.254B
Total Assets $3.661B $3.394B
YoY Change 7.89% 13.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.36M $49.70M
YoY Change 3.35% 108.82%
Accrued Expenses $36.66M $47.40M
YoY Change -22.66% 0.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $121.5M $131.3M
YoY Change -7.47% 31.17%
LONG-TERM LIABILITIES
Long-Term Debt $1.460B $1.336B
YoY Change 9.25% -5.25%
Other Long-Term Liabilities $28.71M $34.00M
YoY Change -15.57% -76.14%
Total Long-Term Liabilities $1.488B $1.370B
YoY Change 8.63% -11.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $121.5M $131.3M
Total Long-Term Liabilities $1.488B $1.370B
Total Liabilities $1.610B $1.501B
YoY Change 7.23% -9.16%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $28.00K $28.00K
YoY Change 0.0% 21.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.026B $1.873B
YoY Change
Total Liabilities & Shareholders Equity $3.661B $3.394B
YoY Change 7.89% 13.23%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $72.68M $18.87M
YoY Change 285.23% -19.14%
Depreciation, Depletion And Amortization $85.22M $39.80M
YoY Change 114.12% 8.15%
Cash From Operating Activities $50.24M $47.80M
YoY Change 5.1% 16.59%
INVESTING ACTIVITIES
Capital Expenditures -$234.6M -$176.7M
YoY Change 32.75% -14.26%
Acquisitions
YoY Change
Other Investing Activities $119.2M $43.90M
YoY Change 171.42% 12.56%
Cash From Investing Activities -$115.4M -$133.0M
YoY Change -13.22% -20.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 92.07M 78.80M
YoY Change 16.84% 964.86%
NET CHANGE
Cash From Operating Activities 50.24M 47.80M
Cash From Investing Activities -115.4M -133.0M
Cash From Financing Activities 92.07M 78.80M
Net Change In Cash 26.89M -6.400M
YoY Change -520.17% -94.6%
FREE CASH FLOW
Cash From Operating Activities $50.24M $47.80M
Capital Expenditures -$234.6M -$176.7M
Free Cash Flow $284.8M $224.5M
YoY Change 26.87% -9.15%

Facts In Submission

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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
277466056 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
269088631 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
276834089 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
263217352 shares
CY2021Q2 us-gaap Profit Loss
ProfitLoss
73787000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
19131000 USD
us-gaap Profit Loss
ProfitLoss
115262000 USD
us-gaap Profit Loss
ProfitLoss
37551000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
576000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-1806000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
5922000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-18802000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
576000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1806000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5922000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-18802000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
74363000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
17325000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
121184000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
18749000 USD
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1109000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
265000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1542000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
531000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
73254000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
17060000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2005326000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1991137000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
119642000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18218000 USD
CY2021Q2 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
2373000 USD
CY2021Q2 lxp Common Shares Issuance And Deferred Compensation Costs Amortization
CommonSharesIssuanceAndDeferredCompensationCostsAmortization
1425000 USD
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
32118000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
73787000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
576000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2051369000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1702670000 USD
CY2020Q2 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
466000 USD
CY2020Q2 lxp Common Shares Issuance And Deferred Compensation Costs Amortization
CommonSharesIssuanceAndDeferredCompensationCostsAmortization
203043000 USD
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
31318000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
19131000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1806000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1892186000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
5085000 USD
lxp Common Shares Issuance And Deferred Compensation Costs Amortization
CommonSharesIssuanceAndDeferredCompensationCostsAmortization
2942000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5120000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
63861000 USD
us-gaap Profit Loss
ProfitLoss
115262000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5922000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2051369000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1724719000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
887000 USD
lxp Common Shares Issuance And Deferred Compensation Costs Amortization
CommonSharesIssuanceAndDeferredCompensationCostsAmortization
221974000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11042000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2623000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
60479000 USD
us-gaap Profit Loss
ProfitLoss
37551000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-18802000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1892186000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
108687000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
93547000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
256578000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
359609000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
57176000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
10583000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
2918000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
9338000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
180133000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
66185000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
758000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2764000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
2991000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
4043000 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
3054000 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
4242000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
2957000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-141000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-140317000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-316167000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
64667000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
57617000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
7676000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
9972000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
125000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
170000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
130000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
4596000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
887000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1130000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1133000 USD
lxp Payment Tax Withholding Sharebased Payment Arrangementand Issuanceof Common Shares
PaymentTaxWithholdingSharebasedPaymentArrangementandIssuanceofCommonShares
5120000 USD
lxp Payment Tax Withholding Sharebased Payment Arrangementand Issuanceof Common Shares
PaymentTaxWithholdingSharebasedPaymentArrangementandIssuanceofCommonShares
2623000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-635000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
218644000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11042000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
50368000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
177144000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18738000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-45476000 USD
lxp Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified Within Assets Held For Sale Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedWithinAssetsHeldForSalePeriodIncreaseDecreaseIncludingExchangeRateEffect
-1047000 USD
lxp Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified Within Assets Held For Sale Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedWithinAssetsHeldForSalePeriodIncreaseDecreaseIncludingExchangeRateEffect
0 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179421000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129310000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
197112000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83834000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
178795000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
122666000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
626000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6644000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179421000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129310000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
196383000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67043000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
729000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
16791000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
197112000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83834000 USD
CY2021Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
135 property
CY2021Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
28 state
lxp Number Of Joint Ventures Acquired
NumberOfJointVenturesAcquired
2 joint_venture
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue Recognition</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The Company recognizes lease revenue on a straight-line basis over the term of the lease unless another systematic and rational basis is more representative of the time pattern in which the use benefit is derived from the leased property. Revenue is recognized on a contractual basis for leases with escalations tied to a consumer price index with no floor. The Company evaluates the collectability of its rental payments and recognizes revenue on a cash basis when the Company believes it is no longer probable that it will receive substantially all of the remaining lease payments. Renewal options in leases with rental terms that are lower than those in the primary term are excluded from the calculation of straight-line rent if the renewals are not reasonably certain. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. The Company recognizes lease termination fees as rental revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred on the condensed consolidated balance sheets.</span>
us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these condensed consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of current and deferred accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee and the useful lives of long-lived assets. Actual results could differ materially from those estimates.</span>
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71000000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17254000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
110397000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33790000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
275568868 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
264785583 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
275493019 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
258911872 shares
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.26
CY2020Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.07
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.40
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.13
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71000000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17254000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
110397000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33790000 USD
CY2021Q2 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 USD
CY2020Q2 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
77000 USD
us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 USD
us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
184000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
71000000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
17331000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
110397000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
33974000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
275568868 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
264785583 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
275493019 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
258911872 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
1098031 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
553937 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
799157 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1210241 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
787133 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1185016 shares
CY2021Q2 lxp Incremental Common Shares Attributable To Operating Partnership Units
IncrementalCommonSharesAttributableToOperatingPartnershipUnits
0 shares
CY2020Q2 lxp Incremental Common Shares Attributable To Operating Partnership Units
IncrementalCommonSharesAttributableToOperatingPartnershipUnits
3092807 shares
lxp Incremental Common Shares Attributable To Operating Partnership Units
IncrementalCommonSharesAttributableToOperatingPartnershipUnits
0 shares
lxp Incremental Common Shares Attributable To Operating Partnership Units
IncrementalCommonSharesAttributableToOperatingPartnershipUnits
3120464 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
277466056 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
269088631 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
276834089 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
263217352 shares
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.26
CY2020Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.06
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.40
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.13
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
274777000 USD
CY2021Q2 us-gaap Land
Land
26563000 USD
CY2021Q2 lxp Investment Building And Building Improvements Acquired During Period
InvestmentBuildingAndBuildingImprovementsAcquiredDuringPeriod
235358000 USD
CY2021Q2 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
12841000 USD
CY2021Q2 lxp Finite Lived Intangible Assets Above Below Market Leases Acquired
FiniteLivedIntangibleAssetsAboveBelowMarketLeasesAcquired
15000 USD
CY2021Q2 lxp Number Of Real Estate Development Projects Under Construction
NumberOfRealEstateDevelopmentProjectsUnderConstruction
3 project
CY2021Q2 lxp Number Of Build To Suit Real Estate Development Projects Under Construction
NumberOfBuildToSuitRealEstateDevelopmentProjectsUnderConstruction
1 project
CY2021Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
116207000 USD
lxp Construction In Progress Capitalized Interest
ConstructionInProgressCapitalizedInterest
1141000 USD
lxp Construction In Progress Capitalized Interest
ConstructionInProgressCapitalizedInterest
325000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1396000 USD
us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
ExtinguishmentOfDebtGainLossNetOfTax
1393000 USD
CY2021Q2 lxp Numberof Real Estate Properties Held For Sale
NumberofRealEstatePropertiesHeldForSale
3 property
CY2020Q4 lxp Numberof Real Estate Properties Held For Sale
NumberofRealEstatePropertiesHeldForSale
2 property
lxp Number Of Impairment Charges
NumberOfImpairmentCharges
1 impairment_charge
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1617000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2021Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
4841000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
648000 USD
CY2021Q2 us-gaap Equity Method Investments
EquityMethodInvestments
54057000 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
56464000 USD
us-gaap Interest Expense
InterestExpense
22960000 USD
us-gaap Interest Expense
InterestExpense
28961000 USD
lxp Lessor Lease Execution Costs
LessorLeaseExecutionCosts
29000 USD
lxp Lessor Lease Execution Costs
LessorLeaseExecutionCosts
0 USD
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
70630000 USD
CY2020Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
73374000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
142572000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
144639000 USD
CY2021Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
9942000 USD
CY2020Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7720000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
29645000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
15190000 USD
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
80572000 USD
CY2020Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
81094000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
172217000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
159829000 USD
lxp Operating Lease Variable Lease Termination Fee Income
OperatingLeaseVariableLeaseTerminationFeeIncome
11827000 USD
lxp Operating Lease Variable Lease Termination Fee Income
OperatingLeaseVariableLeaseTerminationFeeIncome
439000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
133585000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
267171000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
266388000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
230957000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
203554000 USD
CY2021Q2 lxp Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
1094536000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
2196191000 USD
CY2021Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P42Y
CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P52Y
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y3M18D
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y4M24D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
us-gaap Operating Lease Cost
OperatingLeaseCost
2497000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
22000 USD
us-gaap Lease Cost
LeaseCost
2519000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2667000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
47000 USD
us-gaap Lease Cost
LeaseCost
2714000 USD
us-gaap Sublease Income
SubleaseIncome
1713000 USD
us-gaap Sublease Income
SubleaseIncome
1882000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2339000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5005000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5155000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5021000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5021000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3985000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
13486000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
40012000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9066000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
30946000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
438000 USD
CY2015Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
10000000 shares
CY2018Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
10000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1329940 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.28
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2021Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
8976315 shares
lxp Partners Capital Equivalent In Common Shares
PartnersCapitalEquivalentInCommonShares
1.13
CY2021Q2 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
2458000 shares
us-gaap Net Income Loss
NetIncomeLoss
113720000 USD
us-gaap Net Income Loss
NetIncomeLoss
37020000 USD
lxp Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Reallocation Of Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesReallocationOfInterest
435000 USD
lxp Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Reallocation Of Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesReallocationOfInterest
0 USD
lxp Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Redemption Of Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesRedemptionOfInterest
468000 USD
lxp Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Redemption Of Interest
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesRedemptionOfInterest
482000 USD
us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet
114623000 USD
us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet
37502000 USD
us-gaap Interest Paid Net
InterestPaidNet
23349000 USD
us-gaap Interest Paid Net
InterestPaidNet
25195000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1008000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
920000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
373000 USD

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