Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.23.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues    
Lease revenue $ 150,560 $ 141,389
Other property revenue 1,121 891
Construction contract and other service revenues 15,820 53,200
Total revenues 167,501 195,480
Operating expenses    
Property operating expenses 59,420 57,181
Depreciation and amortization associated with real estate operations 36,995 34,264
Construction contract and other service expenses 15,201 51,650
General, administrative and leasing expenses 9,995 8,544
Business development expenses and land carry costs 495 783
Total operating expenses 122,106 152,422
Interest expense (16,442) (14,424)
Interest and other income 2,323 1,893
Credit loss (expense) recoveries (67) 316
Gain on sales of real estate 49,378 15
Loss on early extinguishment of debt 0 (342)
Income from continuing operations before equity in (loss) income of unconsolidated entities and income taxes 80,587 30,516
Equity in (loss) income of unconsolidated entities (64) 888
Income tax expense (125) (153)
Income from continuing operations 80,398 31,251
Discontinued operations 0 29,573
Net income 80,398 60,824
Net income attributable to noncontrolling interests:    
Common units in COPLP (1,293) (856)
Other consolidated entities (326) (649)
Net income attributable to common shareholders $ 78,779 $ 59,319
Basic earnings per common share:    
Income from continuing operations - basic (in dollars per share) [1] $ 0.70 $ 0.27
Discontinued operations - basic (in dollars per share) [1] 0 0.26
Net income attributable to common shareholders - basic (in dollars per share) [1] 0.70 0.53
Diluted earnings per common share:    
Income from continuing operations - diluted (in dollars per share) [1] 0.70 0.27
Discontinued operations - diluted (in dollars per share) [1] 0 0.25
Net income attributable to common shareholders - diluted (in dollars per share) [1] $ 0.70 $ 0.52
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders.