Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Income

v2.4.1.9
Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenue      
Real estate rental revenue $ 288,637us-gaap_RealEstateRevenueNet $ 263,024us-gaap_RealEstateRevenueNet $ 254,794us-gaap_RealEstateRevenueNet
Expenses      
Utilities 18,056us-gaap_UtilitiesOperatingExpense 16,311us-gaap_UtilitiesOperatingExpense 15,781us-gaap_UtilitiesOperatingExpense
Real estate taxes 33,436us-gaap_RealEstateTaxExpense 29,052us-gaap_RealEstateTaxExpense 27,064us-gaap_RealEstateTaxExpense
Repairs and maintenance 13,375us-gaap_CostOfPropertyRepairsAndMaintenance 12,261us-gaap_CostOfPropertyRepairsAndMaintenance 11,339us-gaap_CostOfPropertyRepairsAndMaintenance
Property administration 11,703wre_PropertyAdministration 10,155wre_PropertyAdministration 9,248wre_PropertyAdministration
Property management 8,757us-gaap_OwnedPropertyManagementCosts 8,255us-gaap_OwnedPropertyManagementCosts 8,503us-gaap_OwnedPropertyManagementCosts
Operating services and common area maintenance 15,068us-gaap_CostOfReimbursableExpense 13,469us-gaap_CostOfReimbursableExpense 12,358us-gaap_CostOfReimbursableExpense
Other real estate expenses 3,300us-gaap_OtherCostOfOperatingRevenue 3,790us-gaap_OtherCostOfOperatingRevenue 2,252us-gaap_OtherCostOfOperatingRevenue
Depreciation and amortization 96,011us-gaap_DepreciationAndAmortization 85,740us-gaap_DepreciationAndAmortization 85,107us-gaap_DepreciationAndAmortization
Acquisition costs 5,710us-gaap_BusinessCombinationAcquisitionRelatedCosts 1,265us-gaap_BusinessCombinationAcquisitionRelatedCosts 234us-gaap_BusinessCombinationAcquisitionRelatedCosts
General and administrative 19,761us-gaap_GeneralAndAdministrativeExpense 17,535us-gaap_GeneralAndAdministrativeExpense 15,488us-gaap_GeneralAndAdministrativeExpense
Total expenses 225,177us-gaap_CostsAndExpenses 197,833us-gaap_CostsAndExpenses 187,374us-gaap_CostsAndExpenses
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 570us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal 0us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal 0us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
Real estate operating income 64,030us-gaap_OperatingIncomeLoss 65,191us-gaap_OperatingIncomeLoss 67,420us-gaap_OperatingIncomeLoss
Other income (expense)      
Interest expense (59,785)us-gaap_InterestExpense (63,573)us-gaap_InterestExpense (60,627)us-gaap_InterestExpense
Other income 825us-gaap_OtherNonoperatingIncomeExpense 926us-gaap_OtherNonoperatingIncomeExpense 975us-gaap_OtherNonoperatingIncomeExpense
Loss on extinguishment of debt 0us-gaap_GainsLossesOnExtinguishmentOfDebt (2,737)us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Total other income (expense) (58,960)us-gaap_NonoperatingIncomeExpense (65,384)us-gaap_NonoperatingIncomeExpense (59,652)us-gaap_NonoperatingIncomeExpense
Income (loss) from continuing operations 5,070us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (193)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 7,768us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:      
Income from operations of properties sold or held for sale 546us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 15,395us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 10,816us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Gain on sale of real estate 105,985us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 22,144us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 5,124us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net income 111,601us-gaap_ProfitLoss 37,346us-gaap_ProfitLoss 23,708us-gaap_ProfitLoss
Less: Net loss attributable to noncontrolling interests in subsidiaries 38us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to the controlling interests $ 111,639us-gaap_NetIncomeLoss $ 37,346us-gaap_NetIncomeLoss $ 23,708us-gaap_NetIncomeLoss
Basic net income attributable to the controlling interests per share      
Continuing operations - basic (in dollars per share) $ 0.08us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.00us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.11us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued operations, including gain on sale of real estate (in dollars per share) $ 1.59us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.55us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.24us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Net income attributable to the controlling interests per share, basic $ 1.67us-gaap_EarningsPerShareBasic $ 0.55us-gaap_EarningsPerShareBasic $ 0.35us-gaap_EarningsPerShareBasic
Diluted net income attributable to the controlling interests per share      
Continuing operations - diluted (in dollars per share) $ 0.08us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.00us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.11us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued operations, including gain on sale of real estate (in dollars per share) $ 1.59us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.55us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.24us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Net income attributable to the controlling interests per share, diluted $ 1.67us-gaap_EarningsPerShareDiluted $ 0.55us-gaap_EarningsPerShareDiluted $ 0.35us-gaap_EarningsPerShareDiluted
Weighted average shares outstanding – basic 66,795us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 66,580us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 66,239us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average shares outstanding – diluted 66,837us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 66,580us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 66,376us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding