Ps business parks inc/ca (PSB)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Sep'09Jun'09
Rental income

106,200

106,100

108,100

107,800

107,800

104,141

103,800

101,800

103,759

101,858

100,481

99,800

100,061

97,599

97,340

96,087

95,845

94,550

93,322

92,948

92,315

91,321

95,627

93,986

95,321

93,424

89,772

87,930

88,120

89,224

87,020

85,627

84,677

74,512

76,463

72,970

73,512

69,939

69,773

69,432

67,132

66,885

67,375

Facility management fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

131

128

-

130

133

147

165

164

165

166

162

162

157

158

160

159

164

166

167

170

169

178

171

165

163

173

172

173

Total operating revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

96,218

95,973

-

93,452

93,081

92,462

91,486

95,791

94,151

95,487

93,586

89,934

88,087

88,278

89,384

87,179

85,791

84,843

74,679

76,633

73,139

73,690

70,110

69,938

69,595

67,305

67,057

67,548

Expenses
Cost of operations

31,263

30,822

32,468

31,460

33,593

30,181

31,197

30,796

32,456

29,386

31,679

30,250

31,033

30,668

30,796

29,750

31,894

28,973

30,448

30,057

31,746

29,290

33,102

31,535

33,444

26,826

29,901

28,720

29,384

28,982

29,294

27,717

28,115

25,275

24,778

24,156

25,708

22,163

22,743

21,476

22,966

21,320

21,251

Depreciation and amortization

26,619

28,386

26,220

24,768

24,875

25,737

25,207

24,416

23,882

23,805

23,759

23,628

23,078

24,600

24,631

25,214

25,041

26,151

25,985

27,025

26,233

26,810

26,811

28,295

28,441

28,730

26,597

26,629

26,961

28,072

26,884

27,198

27,244

21,267

21,382

20,988

20,754

20,511

21,093

18,560

18,190

20,270

21,970

General and administrative

3,323

3,650

4,051

2,827

3,233

3,512

2,882

2,828

2,850

5,652

1,745

2,443

2,831

2,880

2,970

5,377

3,635

3,410

3,276

3,497

3,399

4,711

3,078

3,363

2,487

-2,092

2,635

2,370

2,399

1,994

2,240

2,412

2,273

4,353

1,365

1,748

1,570

2,671

1,831

2,400

2,749

1,413

1,538

Total operating expenses

61,205

62,858

62,739

59,055

61,701

59,430

59,286

58,040

59,188

58,843

57,183

56,321

56,942

58,148

58,397

60,341

60,570

58,534

59,709

60,579

61,378

60,811

62,991

63,193

64,372

53,464

59,133

57,719

58,744

59,048

58,418

57,327

57,632

50,895

47,525

46,892

48,032

45,345

45,667

42,436

43,905

43,003

44,759

Operating Income

-

-

-

-

-

-

-

-

-

-

43,298

43,479

43,119

-

38,943

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest and other income

557

1,726

1,384

764

618

444

488

294

284

343

212

154

233

552

206

208

267

724

154

145

107

125

90

95

62

1,310

63

69

43

81

37

80

43

47

37

43

94

73

60

91

109

134

68

Interest and other expense

161

173

199

118

167

166

167

167

165

313

503

285

184

157

155

2,162

3,190

3,301

3,368

3,338

3,323

3,402

3,412

3,403

3,376

3,600

4,017

3,961

4,588

4,885

5,172

5,213

5,348

1,834

1,261

1,145

1,215

948

875

856

855

875

881

Total other income and (expenses)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,954

-2,923

-

-3,214

-3,193

-3,216

-3,277

-3,322

-3,308

-3,314

-2,290

-3,954

-3,892

-4,545

-4,804

-5,135

-5,133

-5,305

-1,787

-1,224

-1,102

-1,121

-875

-815

-765

-746

-741

-813

Equity in loss of unconsolidated joint venture

-

-

-

-

-

-

-

-

-

-

-376

-382

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate facility

19,621

-

-

-

-

8,201

0

58,448

26,835

-

-

1,209

-

-

-

-

-

0

15,748

0

12,487

-

-

-

-

-

-

-

-

-

-

-

-

-

2,717

-

-

0

0

0

5,153

-

1,488

Gain on sale of development rights

-

-

-

-

-

-

-

-

-

2,535

0

0

3,865

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,532

23,626

23,331

21,906

21,997

27,884

25,145

24,537

23,890

23,456

26,394

22,654

23,313

21,976

Discontinued operations:
Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10

69

24

-61

37

25

162

136

242

103

96

34

297

176

Total discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

945

69

24

-61

37

2,742

162

136

242

103

96

5,187

297

1,664

Net income

65,028

61,514

46,510

49,373

46,575

53,174

44,843

102,359

71,525

45,477

42,631

44,175

47,033

39,587

38,994

33,923

32,480

33,029

46,277

29,309

40,355

119,771

29,478

27,650

27,801

37,832

26,847

26,476

24,989

26,477

23,695

23,355

21,845

22,034

30,626

25,307

24,673

24,132

23,559

26,490

27,841

23,610

23,640

Noncontrolling interests - common units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,243

3,936

-

6,087

3,016

5,364

22,299

3,058

2,669

2,703

5,077

2,696

2,613

2,566

2,939

1,557

425

1,049

2,683

4,597

3,362

4,901

2,480

2,852

2,749

3,513

2,697

2,900

Noncontrolling interests - preferred units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

224

99

100

99

100

-7,290

985

984

1,752

1,382

1,382

1,381

Allocation to noncontrolling interests

11,092

7,336

7,020

7,623

7,027

8,385

6,514

18,400

11,900

5,666

4,866

6,645

7,102

3,461

5,315

4,243

3,936

4,028

6,087

3,016

5,364

22,299

3,058

2,669

2,703

5,077

2,696

2,613

2,566

2,939

1,557

649

1,148

2,783

4,696

3,462

-2,389

3,465

3,836

4,501

4,895

4,079

4,281

Common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,268

9,826

9,940

-

9,001

8,711

8,540

9,756

5,172

1,410

3,467

8,782

15,444

11,374

16,562

8,382

9,608

9,229

11,740

8,327

8,152

Net income allocable to PS Business Parks, Inc.

53,936

54,178

39,490

41,750

39,548

44,789

38,329

83,959

59,625

39,811

37,765

37,530

39,931

36,126

33,679

29,680

28,544

29,001

40,190

26,293

34,991

97,472

26,420

24,981

25,098

32,755

24,151

23,863

22,423

23,538

22,138

22,706

20,697

19,251

25,930

21,845

27,062

20,667

19,723

21,989

22,946

19,531

19,359

Allocation to preferred shareholders

12,046

15,469

12,959

12,959

12,959

12,959

12,959

12,959

13,003

14,401

12,590

12,591

13,291

15,778

13,833

13,832

13,833

11,545

17,609

15,122

15,122

15,122

15,122

15,122

15,122

15,122

15,122

15,122

13,850

13,750

16,936

21,264

17,186

10,450

10,450

10,449

10,450

12,256

10,080

12,723

11,155

11,156

11,155

Allocation to preferred shareholders based upon Redemptions (Note 9)

-

-

-

-

-

-

-

-

-

-

6,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allocation to restricted stock unit holders

-275

-211

-219

-212

-268

-331

-239

-779

-574

-179

-137

-197

-248

-700

-128

117

142

-536

97

42

98

230

30

33

36

34

28

30

33

32

30

32

44

19

36

22

50

29

35

37

51

48

52

Net income allocable to common shareholders

41,615

27,491

26,312

28,579

26,321

31,499

25,131

70,221

46,048

21,153

18,138

24,742

26,392

12,854

19,718

15,731

14,569

14,907

22,484

11,129

19,771

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

65,028

61,514

46,510

49,373

46,575

53,174

44,843

102,359

71,525

45,477

42,631

44,175

47,033

39,587

38,994

33,923

32,480

33,029

46,277

29,309

40,355

119,771

29,478

27,650

27,801

37,832

26,847

26,476

24,989

26,477

23,695

23,355

21,845

22,034

30,626

25,307

24,673

24,132

23,559

26,490

27,841

23,610

23,640

Net income per common share
Basic

1.52

1.00

0.96

1.04

0.96

1.15

0.92

2.57

1.69

0.77

0.67

0.91

0.97

0.47

0.73

0.58

0.54

0.56

0.83

0.41

0.73

3.05

0.42

0.37

0.37

0.69

0.37

0.36

0.35

0.41

0.21

0.06

0.14

0.37

0.63

0.46

0.67

0.34

0.39

0.38

0.48

0.37

0.40

Diluted

1.51

0.99

0.96

1.04

0.96

1.14

0.92

2.56

1.69

0.77

0.66

0.90

0.97

0.47

0.72

0.58

0.54

0.55

0.83

0.41

0.73

3.04

0.42

0.36

0.37

0.69

0.37

0.36

0.35

0.40

0.21

0.06

0.14

0.36

0.63

0.46

0.67

0.34

0.39

0.37

0.48

0.37

0.39

Net income per common share - basic:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.37

0.21

0.06

0.15

0.36

0.54

0.46

0.67

0.33

0.39

0.37

0.32

0.36

0.34

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.03

0.00

0.00

0.00

0.00

0.09

0.01

0.00

0.01

0.00

0.01

0.16

0.01

0.06

Net income per common share - diluted:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.37

0.21

0.06

0.14

0.37

0.54

0.45

0.66

0.32

0.39

0.37

0.32

0.36

0.34

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.03

0.00

0.00

0.00

0.00

0.09

0.01

0.00

0.01

0.00

0.01

0.16

0.01

0.06

Weighted average common shares outstanding
Basic

27,448

27,441

27,432

27,426

27,373

27,356

27,339

27,322

27,267

27,254

27,226

27,200

27,148

27,128

27,103

27,082

27,043

27,026

26,985

26,956

26,925

26,920

26,914

26,899

26,863

25,876

24,386

24,358

24,308

24,288

24,257

24,234

24,157

24,121

24,543

24,715

24,685

24,637

24,610

24,524

24,413

22,549

20

Diluted

27,550

27,550

27,543

27,532

27,479

27,505

27,442

27,423

27,318

27,575

27,427

27,412

27,234

27,221

27,201

27,172

27,122

27,098

27,049

27,033

27,024

27,037

27,003

26,999

26,961

25,979

24,472

24,470

24,411

24,377

24,350

24,324

24,241

24,185

24,612

24,807

24,792

24,775

24,740

24,669

24,564

22,709

20

Dividends declared per common share

-

-

-

-

-

-

-

-

-

-

0.85

0.85

0.85

-

0.75

0.75

0.75

-

0.60

0.50

0.50

-

0.50

0.50

0.50

-

0.44

0.44

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-