0001500217-21-000008 | 10-K | XBRL Viewer | American Assets Trust INC

Limited partners' capital, 16,181,537 and 16,390,548 units issued and outstanding as of December 31, 2020 and December 31, 2019, respectively

(19,020)

(22,281)

General partner's capital, 60,476,292 and 60,068,228 units issued and outstanding as of December 31, 2020 and December 31, 2019, respectively

1,269,689

1,308,237

Limited Partner | American Assets Trust, L.P.

1,253,406

1,293,672

General Partner | American Assets Trust, L.P.

^[1]

(19,020)

(22,281)

Accumulated Other Comprehensive Income (Loss) | American Assets Trust, L.P.

^[2]

1,269,689

1,308,237

General and administrative

$ 2,737

$ 7,716

[1]	Consists of limited partnership interests held by third parties.
[2]	Consists of general and limited partnership interests held by American Assets Trust, Inc.

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	490,000,000	490,000,000
Common stock, shares issued	60,476,292	60,068,228
Common stock, shares outstanding	60,476,292	60,068,228
American Assets Trust, L.P.
Limited Partners' Capital Account, Units Issued	16,181,537	16,390,548
Limited Partners' Capital Account, Units Outstanding	16,181,537	16,390,548
General Partners' Capital Account, Units Issued	60,476,292	60,068,228
General Partners' Capital Account, Units Outstanding	60,476,292	60,068,228

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

REVENUE:

Rental income

$ 330,312

$ 343,865

$ 309,537

Other property income

14,261

22,876

21,330

Total revenue

344,573

366,741

330,867

EXPENSES:

Rental expenses

79,178

91,967

86,482

Real estate taxes

41,941

40,013

34,973

26,581

24,871

22,784

Depreciation and amortization

108,292

96,205

107,093

Total operating expenses

255,992

253,056

251,332

Operating income (loss)

88,581

113,685

79,535

Interest expense

(53,440)

(54,008)

(52,248)

Gain on sale of real estate

633

Other income (expense), net

447

(122)

(85)

Net income attributable to restricted shares

35,588

60,188

27,202

(383)

(381)

(311)

Net income attributable to unitholders in the Operating Partnership

(7,545)

(14,089)

(7,205)

NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS

$ 27,660

$ 45,718

$ 19,686

EARNINGS PER COMMON SHARE, BASIC

Basic net income attributable to common stockholders per share (in dollars per share)

$ 0.46

$ 0.84

$ 0.42

Weighted average shares of common stock outstanding-basic (in shares)

59,806,309

54,110,949

46,950,812

EARNINGS PER COMMON SHARE, DILUTED

Diluted net income attributable to common stockholders per share (in dollars per share)

$ 0.46

$ 0.84

$ 0.42

Weighted average shares of common stock outstanding-diluted (in shares)

76,119,763

70,786,132

64,136,559

Other comprehensive (loss) gain - unrealized (loss) gain on swap derivatives during the period

$ 35,588

$ 60,188

$ 27,202

(3,649)

(5,571)

120

Reclassification of amortization of forward starting swaps included in interest expense

(1,330)

(1,304)

(1,279)

Comprehensive income

30,609

53,313

26,043

Comprehensive income attributable to noncontrolling interest

(6,496)

(12,301)

(6,877)

Comprehensive income attributable to American Assets Trust, Inc.

24,113

41,012

19,166

American Assets Trust, L.P.

REVENUE:

Rental income

330,312

343,865

309,537

Other property income

14,261

22,876

21,330

Total revenue

344,573

366,741

330,867

EXPENSES:

Rental expenses

79,178

91,967

86,482

Real estate taxes

41,941

40,013

34,973

General and administrative

26,581

24,871

22,784

Depreciation and amortization

108,292

96,205

107,093

Total operating expenses

255,992

253,056

251,332

Operating income (loss)

88,581

113,685

79,535

Interest expense

(53,440)

(54,008)

(52,248)

Gain on sale of real estate

633

Other income (expense), net

447

(122)

(85)

Net income attributable to restricted shares

35,588

60,188

27,202

(383)

(381)

(311)

NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS

$ 35,205

$ 59,807

$ 26,891

EARNINGS PER COMMON SHARE, BASIC

Basic net income attributable to common stockholders per share (in dollars per share)

$ 0.46

$ 0.84

$ 0.42

Weighted average shares of common stock outstanding-basic (in shares)

76,119,763

70,786,132

64,136,559

EARNINGS PER COMMON SHARE, DILUTED

Diluted net income attributable to common stockholders per share (in dollars per share)

$ 0.46

$ 0.84

$ 0.42

Weighted average shares of common stock outstanding-diluted (in shares)

76,119,763

70,786,132

64,136,559

DISTRIBUTIONS PER UNIT (in dollars per share)

$ 1.00

$ 1.14

$ 1.09

Reclassification of amortization of forward starting swaps included in interest expense

$ 35,588

$ 60,188

$ 27,202

(1,330)

(1,304)

(1,279)

Comprehensive income

30,609

53,313

26,043

American Assets Trust, L.P. | Limited Partner

EXPENSES:

^[1]

7,545

14,089

7,205

Comprehensive income attributable to American Assets Trust, Inc.

^[1]

7,545

14,089

7,205

(6,496)

(12,301)

(6,877)

American Assets Trust, L.P. | General Partner

EXPENSES:

^[2]

28,043

46,099

19,997

Comprehensive income attributable to American Assets Trust, Inc.

^[2]

28,043

46,099

19,997

24,113

41,012

19,166

Interest Rate Swap | American Assets Trust, L.P.

Other comprehensive (loss) gain - unrealized (loss) gain on swap derivatives during the period

(3,649)

(5,571)

120

Swap

Other comprehensive (loss) gain - unrealized (loss) gain on swap derivatives during the period

(3,649)

(6,084)

120

Swap | American Assets Trust, L.P.

Other comprehensive (loss) gain - unrealized (loss) gain on swap derivatives during the period

$ (3,649)

(6,084)

$ 120

Forward Contracts

Other comprehensive (loss) gain - unrealized (loss) gain on swap derivatives during the period

513

Forward Contracts | American Assets Trust, L.P.