Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Lease revenue $ 153,682 $ 142,277 $ 304,242 $ 283,666
Other property revenue 1,271 969 2,392 1,860
Construction contract and other service revenues 14,243 42,557 30,063 95,757
Total revenues 169,196 185,803 336,697 381,283
Operating expenses        
Property operating expenses 61,600 54,116 121,020 111,297
Depreciation and amortization associated with real estate operations 37,600 34,812 74,595 69,076
Construction contract and other service expenses 13,555 41,304 28,756 92,954
General, administrative, leasing and other expenses 10,358 9,056 20,848 18,383
Total operating expenses 123,113 139,288 245,219 291,710
Interest expense (16,519) (14,808) (32,961) (29,232)
Interest and other income, net 2,143 1,593 4,399 3,802
Gain on sales of real estate 14 (19) 49,392 (4)
Loss on early extinguishment of debt 0 0 0 (342)
Income from continuing operations before equity in income of unconsolidated entities and income taxes 31,721 33,281 112,308 63,797
Equity in income of unconsolidated entities 111 318 47 1,206
Income tax expense (190) (4) (315) (157)
Income from continuing operations 31,642 33,595 112,040 64,846
Discontinued operations 0 0 0 29,573
Net income 31,642 33,595 112,040 94,419
Net income attributable to noncontrolling interests:        
Common units in COPLP (516) (496) (1,809) (1,352)
Other consolidated entities (839) (789) (1,165) (1,438)
Net income attributable to common shareholders $ 30,287 $ 32,310 $ 109,066 $ 91,629
Basic earnings per common share:        
Income from continuing operations - basic (in dollars per share) [1] $ 0.27 $ 0.29 $ 0.97 $ 0.55
Discontinued operations - basic (in dollars per share) [1] 0 0 0 0.26
Net income attributable to common shareholders - basic (in dollars per share) [1] 0.27 0.29 0.97 0.81
Diluted earnings per common share:        
Income from continuing operations - diluted (in dollars per share) [1] 0.27 0.29 0.96 0.55
Discontinued operations - diluted (in dollars per share) [1] 0 0 0 0.26
Net income attributable to common shareholders - diluted (in dollars per share) [1] $ 0.27 $ 0.29 $ 0.96 $ 0.81
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders.