|

| (in
thousands, except per share amounts) |
2000 |
1999 |
1998 |
 |
| Operating
revenues: |
|
|
|
|
|
|
|
|
|
| Rental
revenue: |
|
|
|
|
|
|
|
|
|
| Minimum
base rent |
$ |
448,068 |
|
$ |
422,440 |
|
$ |
379,502 |
|
| Recoveries
from tenants |
|
64,344 |
|
|
58,426 |
|
|
46,947 |
|
| Parking
and other tenant charges |
|
19,447 |
|
|
17,983 |
|
|
14,006 |
|
 |
 |
| Total
rental revenue |
|
531,859 |
|
|
498,849 |
|
|
440,455 |
|
| Real
estate service income |
|
26,172 |
|
|
17,054 |
|
|
16,167 |
|
|
|
|
|
|
|
|
|
|
|
| Total
operating revenues |
|
558,031 |
|
|
515,903 |
|
|
456,622 |
|
 |
 |
| Operating
expenses: |
|
|
|
|
|
|
|
|
|
| Property
expenses: |
|
|
|
|
|
|
|
|
|
| Operating
expenses |
|
124,119 |
|
|
122,676 |
|
|
109,514 |
|
| Real
estate taxes |
|
45,864 |
|
|
44,529 |
|
|
40,174 |
|
| Interest
expense |
|
98,348 |
|
|
89,057 |
|
|
71,419 |
|
| General
and administrative |
|
46,189 |
|
|
38,894 |
|
|
32,356 |
|
| Depreciation
and amortization |
|
128,542 |
|
|
119,700 |
|
|
100,810 |
|
 |
 |
| Total
operating expenses |
|
443,062 |
|
|
414,856 |
|
|
354,273 |
|
|
|
|
|
|
|
|
|
|
|
| Real
estate operating income |
|
114,969 |
|
|
101,047 |
|
|
102,349 |
|
 |
 |
| Other
income: |
|
|
|
|
|
|
|
|
|
| Interest
income |
|
4,372 |
|
|
3,936 |
|
|
3,989 |
|
| Equity
in earnings of unconsolidated entities |
|
7,596 |
|
|
5,167 |
|
|
5,282 |
|
| Gain
(loss) on treasury locks |
|
|
|
|
4,489 |
|
|
(13,729 |
) |
|
|
|
|
|
|
|
|
|
|
| Total
other income |
|
11,968 |
|
|
13,592 |
|
|
(4,458 |
) |
 |
 |
| Income
from continuing operations before income taxes, |
|
|
|
|
|
|
|
|
|
|
minority interest, and gain on sale of assets and other provisions,
net |
|
126,937 |
|
|
114,639 |
|
|
97,891 |
|
| Income
taxes |
|
|
|
|
(783 |
) |
|
|
|
| Minority
interest |
|
(16,149 |
) |
|
(17,599 |
) |
|
(16,072 |
) |
| Gain
on sale of assets and other provisions, net |
|
36,371 |
|
|
54,822 |
|
|
38,160 |
|
 |
 |
| Income
from continuing operations |
|
147,159 |
|
|
151,079 |
|
|
119,979 |
|
| Discontinued
operationsIncome (loss) from executive suite |
|
|
|
|
|
|
|
|
|
|
operations (net of applicable income tax expense (benefit) |
|
|
|
|
|
|
|
|
|
|
of $1,300, ($816) and $1,898, respectively) |
|
456 |
|
|
(7,862 |
) |
|
6,518 |
|
| Discontinued
operationsGain on sale of discontinued |
|
|
|
|
|
|
|
|
|
|
operations (less applicable income tax expense of $21,131) |
|
31,852 |
|
|
|
|
|
|
|
 |
 |
| Net
income |
$ |
179,467 |
|
$ |
143,217 |
|
$ |
126,497 |
|
 |
 |
| Basic
net income per common share: |
|
|
|
|
|
|
|
|
|
| Income
from continuing operations |
$ |
1.69 |
|
$ |
1.71 |
|
$ |
1.23 |
|
| Discontinued
operations |
|
0.01 |
|
|
(0.12 |
) |
|
0.10 |
|
| Gain
on sale of discontinued operations |
|
0.48 |
|
|
|
|
|
|
|
 |
 |
| Net
income |
$ |
2.18 |
|
$ |
1.59 |
|
$ |
1.33 |
|
 |
 |
| Diluted
net income per common share: |
|
|
|
|
|
|
|
|
|
| Income
from continuing operations |
$ |
1.65 |
|
$ |
1.71 |
|
$ |
1.23 |
|
| Discontinued
operations |
|
0.01 |
|
|
(0.12 |
) |
|
0.09 |
|
| Gain
on sale of discontinued operations |
|
0.47 |
|
|
|
|
|
|
|
 |
 |
| Net
income |
$ |
2.13 |
|
$ |
1.59 |
|
$ |
1.32 |
|
 |
 |
See accompanying
notes to consolidated financial statements. |
|
|
|
|
|
|
|
|
|
|