2016 Q2 Form 10-Q Financial Statement

#000104097116000030 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $617.6M $409.1M
YoY Change 50.98% 7.47%
Cost Of Revenue $145.8M $134.5M
YoY Change 8.4% 4.34%
Gross Profit $471.9M $274.6M
YoY Change 71.85% 9.1%
Gross Profit Margin 76.41% 67.13%
Selling, General & Admin $24.48M $23.20M
YoY Change 5.53% -2.82%
% of Gross Profit 5.19% 8.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $432.5M $205.5M
YoY Change 110.46% 104.89%
% of Gross Profit 91.65% 74.84%
Operating Expenses $24.48M $23.20M
YoY Change 5.53% -2.82%
Operating Profit $447.4M $251.4M
YoY Change 77.97% 10.35%
Interest Expense $95.57M $84.08M
YoY Change 13.66% 7.22%
% of Operating Profit 21.36% 33.45%
Other Income/Expense, Net -$10.40M
YoY Change
Pretax Income -$76.30M -$32.94M
YoY Change 131.63% -166.59%
Income Tax $300.0K $1.100M
% Of Pretax Income
Net Earnings $137.2M -$35.37M
YoY Change -487.9% -114.78%
Net Earnings / Revenue 22.21% -8.65%
Basic Earnings Per Share $1.33 -$0.39
Diluted Earnings Per Share $1.33 -$0.39
COMMON SHARES
Basic Shares Outstanding 100.1M shares 99.58M shares
Diluted Shares Outstanding 104.8M shares 99.58M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $315.6M $262.1M
YoY Change 20.38% -24.67%
Cash & Equivalents $276.2M $215.9M
Short-Term Investments $39.34M $46.25M
Other Short-Term Assets
YoY Change
Inventory $40.00M $421.0M
Prepaid Expenses
Receivables $515.0M $510.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $831.0M $1.147B
YoY Change -27.55% 7.9%
LONG-TERM ASSETS
Property, Plant & Equipment $12.79B $11.52B
YoY Change 10.97% -3.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.126B $1.263B
YoY Change -10.79% 29.92%
Other Assets $423.0M $457.0M
YoY Change -7.44% 0.0%
Total Long-Term Assets $16.71B $16.12B
YoY Change 3.68% 2.97%
TOTAL ASSETS
Total Short-Term Assets $831.0M $1.147B
Total Long-Term Assets $16.71B $16.12B
Total Assets $17.54B $17.27B
YoY Change 1.61% 3.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $190.0M $147.0M
YoY Change 29.25% -10.37%
Accrued Expenses $36.00M $161.0M
YoY Change -77.64% 24.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $377.0M $443.0M
YoY Change -14.9% 7.52%
LONG-TERM LIABILITIES
Long-Term Debt $8.004B $8.227B
YoY Change -2.71% 0.49%
Other Long-Term Liabilities $627.0M $516.0M
YoY Change 21.51% 23.74%
Total Long-Term Liabilities $8.631B $8.743B
YoY Change -1.28% 1.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $377.0M $443.0M
Total Long-Term Liabilities $8.631B $8.743B
Total Liabilities $9.008B $9.186B
YoY Change -1.94% 1.89%
SHAREHOLDERS EQUITY
Retained Earnings $1.655B $1.658B
YoY Change -0.16% -7.77%
Common Stock $1.003M $1.033M
YoY Change -2.9% 4.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.00M $325.2M
YoY Change -96.93% 1.58%
Treasury Stock Shares 87.00K shares 3.643M shares
Shareholders Equity $7.318B $7.116B
YoY Change
Total Liabilities & Shareholders Equity $17.54B $17.27B
YoY Change 1.61% 3.29%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $137.2M -$35.37M
YoY Change -487.9% -114.78%
Depreciation, Depletion And Amortization $432.5M $205.5M
YoY Change 110.46% 104.89%
Cash From Operating Activities $259.3M $142.5M
YoY Change 81.96% -24.4%
INVESTING ACTIVITIES
Capital Expenditures -$94.60M -$111.7M
YoY Change -15.31% -62.1%
Acquisitions
YoY Change
Other Investing Activities $1.883B -$376.6M
YoY Change -599.87% -878.1%
Cash From Investing Activities $1.788B -$488.2M
YoY Change -466.2% 98.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.087B 230.9M
YoY Change -1003.94% -384.36%
NET CHANGE
Cash From Operating Activities 259.3M 142.5M
Cash From Investing Activities 1.788B -488.2M
Cash From Financing Activities -2.087B 230.9M
Net Change In Cash -40.10M -114.8M
YoY Change -65.07% -17.35%
FREE CASH FLOW
Cash From Operating Activities $259.3M $142.5M
Capital Expenditures -$94.60M -$111.7M
Free Cash Flow $353.9M $254.2M
YoY Change 39.22% -47.39%

Facts In Submission

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CY2015Q4 slg Net Intangible Assets Transferredto Assets Heldfor Sale
NetIntangibleAssetsTransferredtoAssetsHeldforSale
100000 USD
CY2016Q2 slg Net Intangible Assets Transferredto Assets Heldfor Sale
NetIntangibleAssetsTransferredtoAssetsHeldforSale
100000 USD
CY2015Q4 slg Net Intangible Liabilities Transferredto Liabilities Relatedto Assets Heldfor Sale
NetIntangibleLiabilitiesTransferredtoLiabilitiesRelatedtoAssetsHeldforSale
100000 USD
CY2016Q2 slg Net Intangible Liabilities Transferredto Liabilities Relatedto Assets Heldfor Sale
NetIntangibleLiabilitiesTransferredtoLiabilitiesRelatedtoAssetsHeldforSale
200000 USD
slg Number Of Shares On Redemption Of One Unit Of Partnership Interest
NumberOfSharesOnRedemptionOfOneUnitOfPartnershipInterest
1 shares
CY2016Q2 slg Numberof Real Estate Buildings
NumberofRealEstateBuildings
109 building
slg Operating Leases Minimum Lease Term
OperatingLeasesMinimumLeaseTerm
P1Y
slg Operating Partnership Noncontrolling Interest Fair Value Adjustment
OperatingPartnershipNoncontrollingInterestFairValueAdjustment
20670000 USD
slg Operating Partnership Noncontrolling Interest Fair Value Adjustment
OperatingPartnershipNoncontrollingInterestFairValueAdjustment
906000 USD
slg Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
6.71348
slg Proceeds From Equity Method Investment Dividends Or Distributions
ProceedsFromEquityMethodInvestmentDividendsOrDistributions
49059000 USD
slg Proceeds From Equity Method Investment Dividends Or Distributions
ProceedsFromEquityMethodInvestmentDividendsOrDistributions
161413000 USD
slg Proceeds From Noncontrolling Interests In Other Partnerships
ProceedsFromNoncontrollingInterestsInOtherPartnerships
8655000 USD
slg Proceeds From Noncontrolling Interests In Other Partnerships
ProceedsFromNoncontrollingInterestsInOtherPartnerships
1434000 USD
slg Proceeds From Participating Mortgage Loan
ProceedsFromParticipatingMortgageLoan
25000000 USD
slg Proceeds From Participating Mortgage Loan
ProceedsFromParticipatingMortgageLoan
76500000 USD
CY2015Q2 slg Proceedsfrom Saleand Maturityof Marketable Securities Netof Transaction Costs
ProceedsfromSaleandMaturityofMarketableSecuritiesNetofTransactionCosts
200000 USD
slg Proceedsfrom Saleand Maturityof Marketable Securities Netof Transaction Costs
ProceedsfromSaleandMaturityofMarketableSecuritiesNetofTransactionCosts
300000 USD
CY2016Q2 slg Proceedsfrom Saleand Maturityof Marketable Securities Netof Transaction Costs
ProceedsfromSaleandMaturityofMarketableSecuritiesNetofTransactionCosts
4300000 USD
slg Proceedsfrom Saleand Maturityof Marketable Securities Netof Transaction Costs
ProceedsfromSaleandMaturityofMarketableSecuritiesNetofTransactionCosts
4300000 USD
slg Profit Loss Less Minority Interest In Net Income Loss Operating Partnerships
ProfitLossLessMinorityInterestInNetIncomeLossOperatingPartnerships
169562000 USD
CY2016Q2 slg Real Estate Weighted Average Occupancy
RealEstateWeightedAverageOccupancy
0.888
slg Reallocationof Noncontrolling Interesttofrom Operating Partnership
ReallocationofNoncontrollingInteresttofromOperatingPartnership
-906000 USD
slg Removalof Fully Depreciated Real Estate Assets
RemovalofFullyDepreciatedRealEstateAssets
0 USD
slg Removalof Fully Depreciated Real Estate Assets
RemovalofFullyDepreciatedRealEstateAssets
13471000 USD
CY2015Q2 slg Rental Revenue Increase Decrease Acquired Lease Amortization
RentalRevenueIncreaseDecreaseAcquiredLeaseAmortization
8300000 USD
slg Rental Revenue Increase Decrease Acquired Lease Amortization
RentalRevenueIncreaseDecreaseAcquiredLeaseAmortization
22600000 USD
CY2016Q2 slg Rental Revenue Increase Decrease Acquired Lease Amortization
RentalRevenueIncreaseDecreaseAcquiredLeaseAmortization
156800000 USD
slg Rental Revenue Increase Decrease Acquired Lease Amortization
RentalRevenueIncreaseDecreaseAcquiredLeaseAmortization
191600000 USD
CY2015Q4 slg Secured Debt Amount Transferredto Liabilities Relatedto Net Assets Heldfor Sale
SecuredDebtAmountTransferredtoLiabilitiesRelatedtoNetAssetsHeldforSale
29000000 USD
CY2016Q2 slg Secured Debt Amount Transferredto Liabilities Relatedto Net Assets Heldfor Sale
SecuredDebtAmountTransferredtoLiabilitiesRelatedtoNetAssetsHeldforSale
0 USD
CY2015Q4 slg Secured Debt And Other Loans Payable
SecuredDebtAndOtherLoansPayable
7021504000 USD
CY2016Q2 slg Secured Debt And Other Loans Payable
SecuredDebtAndOtherLoansPayable
5608400000 USD
CY2015Q4 slg Secured Debt Bearing Fixed Interest Amount
SecuredDebtBearingFixedInterestAmount
5816010000 USD
CY2016Q2 slg Secured Debt Bearing Fixed Interest Amount
SecuredDebtBearingFixedInterestAmount
4975245000 USD
CY2015Q4 slg Secured Debt Bearing Variable Interest Amount
SecuredDebtBearingVariableInterestAmount
1205494000 USD
CY2016Q2 slg Secured Debt Bearing Variable Interest Amount
SecuredDebtBearingVariableInterestAmount
633155000 USD
CY2015Q4 slg Secured Debt Deferred Finance Costs Net
SecuredDebtDeferredFinanceCostsNet
110584000 USD
CY2016Q2 slg Secured Debt Deferred Finance Costs Net
SecuredDebtDeferredFinanceCostsNet
84290000 USD
CY2015Q4 slg Secured Debt Gross
SecuredDebtGross
6992504000 USD
CY2016Q2 slg Secured Debt Gross
SecuredDebtGross
5608400000 USD
CY2015Q2 slg Total Costs And Expenses Including Nonoperating Income Expense
TotalCostsAndExpensesIncludingNonoperatingIncomeExpense
442016000 USD
slg Total Costs And Expenses Including Nonoperating Income Expense
TotalCostsAndExpensesIncludingNonoperatingIncomeExpense
800070000 USD
CY2016Q2 slg Total Costs And Expenses Including Nonoperating Income Expense
TotalCostsAndExpensesIncludingNonoperatingIncomeExpense
693918000 USD
slg Total Costs And Expenses Including Nonoperating Income Expense
TotalCostsAndExpensesIncludingNonoperatingIncomeExpense
1150643000 USD
CY2016Q2 slg Total Par Or Stated Value Per Share
TotalParOrStatedValuePerShare
0.01
CY2016Q2 slg Total Shares Authorized
TotalSharesAuthorized
260000000 shares
CY2015Q2 slg Transaction Related Costs
TransactionRelatedCosts
3067000 USD
slg Transaction Related Costs
TransactionRelatedCosts
4210000 USD
CY2016Q2 slg Transaction Related Costs
TransactionRelatedCosts
2115000 USD
slg Transaction Related Costs
TransactionRelatedCosts
3394000 USD
slg Transfer To Liabilities Related To Net Assets Held For Sale
TransferToLiabilitiesRelatedToNetAssetsHeldForSale
178252000 USD
slg Transfer To Liabilities Related To Net Assets Held For Sale
TransferToLiabilitiesRelatedToNetAssetsHeldForSale
1612008000 USD
slg Transfer To Net Assets Held For Sale
TransferToNetAssetsHeldForSale
420569000 USD
slg Transfer To Net Assets Held For Sale
TransferToNetAssetsHeldForSale
1931217000 USD
slg Transferof Restricted Cashto Operating Cash Dueto Sale
TransferofRestrictedCashtoOperatingCashDuetoSale
21578000 USD
slg Transferof Restricted Cashto Operating Cash Dueto Sale
TransferofRestrictedCashtoOperatingCashDuetoSale
0 USD
CY2015Q4 slg Variable Interest Entity Not Primary Beneficiary Investment
VariableInterestEntityNotPrimaryBeneficiaryInvestment
39700000 USD
CY2016Q2 slg Variable Interest Entity Not Primary Beneficiary Investment
VariableInterestEntityNotPrimaryBeneficiaryInvestment
216900000 USD
CY2015Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
63491000 USD
CY2016Q2 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
57551000 USD
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
196213000 USD
CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
189690000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-8749000 USD
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-16558000 USD
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
5439735000 USD
CY2016Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
5466593000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12823000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
40000 USD
CY2015Q2 us-gaap Affiliate Costs
AffiliateCosts
4472000 USD
us-gaap Affiliate Costs
AffiliateCosts
8189000 USD
CY2016Q2 us-gaap Affiliate Costs
AffiliateCosts
6667000 USD
us-gaap Affiliate Costs
AffiliateCosts
10129000 USD
CY2015Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
17618000 USD
CY2016Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
18728000 USD
CY2015Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5952000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
12567000 USD
CY2016Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7433000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
15365000 USD
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
845026 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
748000 shares
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
739636 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
228122 shares
CY2016Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
33018905 sqft
CY2015Q4 us-gaap Assets
Assets
19727646000 USD
CY2016Q2 us-gaap Assets
Assets
17544223000 USD
CY2016Q2 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
3200000 USD
CY2015Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
34981000 USD
CY2016Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
39642000 USD
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
45138000 USD
CY2016Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
39339000 USD
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
38700000 USD
CY2016Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
37800000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
17661000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11637000 USD
CY2015Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
41360000 USD
CY2016Q2 us-gaap Capital Lease Obligations
CapitalLeaseObligations
41751000 USD
CY2015Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
47445000 USD
CY2016Q2 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
47445000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
836433000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
1145000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
2620000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
2411000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
2387000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
2387000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
825483000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
794682000 USD
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
41751000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
281409000 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
215896000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
255399000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
276226000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-65513000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
20827000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-4500000 USD
CY2015Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
10800000000 USD
CY2016Q2 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
8700000000 USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.20
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.72
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.44
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.44
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
160000000 shares
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
160000000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100063000 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100164000 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
100063000 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
100164000 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
1001000 USD
CY2016Q2 us-gaap Common Stock Value
CommonStockValue
1003000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-34464000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7721000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
137858000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
156344000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-28233000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
22373000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
149706000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
173414000 USD
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
70114000 USD
us-gaap Costs And Expenses
CostsAndExpenses
146891000 USD
CY2016Q2 us-gaap Costs And Expenses
CostsAndExpenses
75324000 USD
us-gaap Costs And Expenses
CostsAndExpenses
154844000 USD
CY2015Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
239920000 USD
CY2016Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
256303000 USD
CY2015Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
415406000 USD
CY2016Q2 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
447805000 USD
CY2015Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
130300000 USD
CY2016Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
101500000 USD
CY2015Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1783000 USD
CY2016Q2 us-gaap Deferred Rent Credit
DeferredRentCredit
2236000 USD
CY2015Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
498776000 USD
CY2016Q2 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
443981000 USD
CY2015Q4 us-gaap Deferred Revenue
DeferredRevenue
399102000 USD
CY2016Q2 us-gaap Deferred Revenue
DeferredRevenue
384145000 USD
CY2015Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
199565000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
307902000 USD
CY2016Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
425042000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
604350000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
320472000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
619715000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
204000 USD
CY2016Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
0 USD
CY2016Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-3036000 USD
CY2016Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
3100000 USD
CY2015Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
8086000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
16274000 USD
CY2016Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
8307000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
16615000 USD
CY2015Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
12983000 USD
CY2016Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
CY2015Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
0 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
427000 USD
CY2016Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
0 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
0 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
-631000 USD
us-gaap Disposal Group Including Discontinued Operation Other Income
DisposalGroupIncludingDiscontinuedOperationOtherIncome
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
109000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
143998000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
79790000 USD
CY2016Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
80555000 USD
CY2015Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3738000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
7476000 USD
CY2016Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3737000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
7475000 USD
CY2015Q4 us-gaap Due From Joint Ventures
DueFromJointVentures
1334000 USD
CY2016Q2 us-gaap Due From Joint Ventures
DueFromJointVentures
1443000 USD
CY2015Q4 us-gaap Due From Other Related Parties
DueFromOtherRelatedParties
9316000 USD
CY2016Q2 us-gaap Due From Other Related Parties
DueFromOtherRelatedParties
11616000 USD
CY2015Q4 us-gaap Due From Related Parties
DueFromRelatedParties
10650000 USD
CY2016Q2 us-gaap Due From Related Parties
DueFromRelatedParties
13059000 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.57
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.56
CY2015Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1800000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3400000 USD
CY2016Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1400000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2900000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
22464000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
15260000 USD
CY2015Q2 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
769000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
769000 USD
CY2016Q2 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
33448000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
43363000 USD
CY2015Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1203858000 USD
CY2016Q2 us-gaap Equity Method Investments
EquityMethodInvestments
1126486000 USD
CY2016Q2 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
75000000 shares
CY2016Q2 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
0 shares
CY2016Q2 us-gaap Federal Home Loan Bank Advances
FederalHomeLoanBankAdvances
229000000 USD
CY2016Q2 us-gaap Federal Home Loan Bank Advances Interest Rate
FederalHomeLoanBankAdvancesInterestRate
0.0090
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
403747000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
420167000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
939518000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1022430000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
535771000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
602263000 USD
CY2015Q2 us-gaap Gain Loss On Interest Rate Cash Flow Hedge Ineffectiveness
GainLossOnInterestRateCashFlowHedgeIneffectiveness
2000 USD
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us-gaap Gain Loss On Interest Rate Cash Flow Hedge Ineffectiveness
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2015Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
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0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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us-gaap Gains Losses On Sales Of Investment Real Estate
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us-gaap Gains Losses On Sales Of Investment Real Estate
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210353000 USD
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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5303000 USD
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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15937000 USD
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300000 USD
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1500000 USD
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31951000 USD
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2872000 USD
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2386000 USD
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229853000 USD
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1246000 USD
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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282000 shares
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us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
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257000 USD
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295000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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5180000 USD
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ProceedsFromStockOptionsExercised
111307000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4431000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-29179000 USD
us-gaap Profit Loss
ProfitLoss
26457000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
149095000 USD
us-gaap Profit Loss
ProfitLoss
181598000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2060706000 USD
CY2016Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2166059000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
16681602000 USD
CY2016Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
14954135000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
14620896000 USD
CY2016Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
12788076000 USD
CY2015Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
56286000 USD
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
112009000 USD
CY2016Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
62124000 USD
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
123798000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
735007000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
1664296000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
489138000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1663616000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
233578000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
166905000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1643546000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1655320000 USD
CY2015Q2 us-gaap Revenues
Revenues
409074000 USD
us-gaap Revenues
Revenues
805373000 USD
CY2016Q2 us-gaap Revenues
Revenues
617614000 USD
us-gaap Revenues
Revenues
1073058000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
6881920000 USD
CY2016Q2 us-gaap Secured Debt
SecuredDebt
5524110000 USD
CY2015Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
68023000 USD
CY2016Q2 us-gaap Security Deposit Liability
SecurityDepositLiability
68199000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23200000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23200000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48700000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48664000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24500000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24484000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48516000 USD
CY2015Q4 us-gaap Senior Notes
SeniorNotes
2308478000 USD
CY2016Q2 us-gaap Senior Notes
SeniorNotes
2060690000 USD
CY2016Q2 us-gaap Shares Issued
SharesIssued
100164358 shares
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
11795000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
89000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
7287465000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
7318290000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7719317000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7747119000 USD
us-gaap Straight Line Rent
StraightLineRent
65260000 USD
us-gaap Straight Line Rent
StraightLineRent
-53042000 USD
CY2015Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
282516000 USD
CY2016Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
302460000 USD
CY2015Q2 us-gaap Tenant Reimbursements
TenantReimbursements
41407000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
82376000 USD
CY2016Q2 us-gaap Tenant Reimbursements
TenantReimbursements
48616000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
94227000 USD
us-gaap Transfer Of Investments
TransferOfInvestments
10151000 USD
us-gaap Transfer Of Investments
TransferOfInvestments
68581000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
87000 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
87000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10000000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
10000000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
-818000 USD
us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
-9576000 USD
CY2016Q2 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
-4191000 USD
us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
-13875000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99579000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103423000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104792000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104533000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99579000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98994000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100134000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100093000 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentrations of Credit Risk</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash investments, debt and preferred equity investments and accounts receivable. We place our cash investments in excess of insured amounts with high quality financial institutions. The collateral securing our debt and preferred equity investments is located in New York City. See Note 5, "Debt and Preferred Equity Investments." We perform ongoing credit evaluations of our tenants and require most tenants to provide security deposits or letters of credit. Though these security deposits and letters of credit are insufficient to meet the total value of a tenant's lease obligation, they are a measure of good faith and a source of funds to offset the economic costs associated with lost rent and the costs associated with re-tenanting a space. Although the properties in our real estate portfolio are primarily located in Manhattan, we also have properties located in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. The tenants located in our buildings operate in various industries.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassification</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year balances have been reclassified to conform to our current year presentation.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>

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