Document and Entity Information - shares |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
May 05, 2017 |
|
| Document Information [Line Items] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Mar. 31, 2017 | |
| Document Fiscal Year Focus | 2017 | |
| Document Fiscal Period Focus | Q1 | |
| Trading Symbol | AAT | |
| Entity Registrant Name | AMERICAN ASSETS TRUST, INC. | |
| Entity Central Index Key | 0001500217 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 47,113,653 | |
| American Assets Trust, L.P. | ||
| Document Information [Line Items] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Mar. 31, 2017 | |
| Document Fiscal Year Focus | 2017 | |
| Document Fiscal Period Focus | Q1 | |
| Entity Registrant Name | AMERICAN ASSETS TRUST, L.P. | |
| Entity Central Index Key | 0001509570 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Non-accelerated Filer |
| X | ||||||||||
- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
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| X | ||||||||||
- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of the general partner's ownership interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying amount of land available for development. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of the limited partners' ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying amount of income producing properties held for rental. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Consolidated Balance Sheets (Parenthetical) - $ / shares |
Mar. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Common Shares | ||
| Common stock, par value (in USD per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized (in shares) | 490,000,000 | 490,000,000 |
| Common stock, shares outstanding (in shares) | 46,431,341 | 45,732,109 |
| Common stock, shares issued (in shares) | 46,431,341 | 45,732,109 |
| American Assets Trust, L.P. | ||
| Limited partners' capital, units issued (in shares) | 17,888,822 | 17,888,822 |
| Limited partners' capital, units outstanding (in shares) | 17,888,822 | 17,888,822 |
| General partners' capital, units issued (in shares) | 46,431,341 | 45,732,109 |
| General partners' capital, units outstanding (in shares) | 46,431,341 | 45,732,109 |
| X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of general partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of general partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
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| X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Cash dividends declared or paid to each outstanding limited partnership and general partnership unit during the reporting period. No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Other real estate revenue not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Consolidated Statement of Equity (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) $ in Thousands |
Total |
American Assets Trust, L.P. |
American Assets Trust, L.P.
Accumulated Other Comprehensive Income (Loss)
|
American Assets Trust, L.P.
Limited Partner
|
[1] |
American Assets Trust, L.P.
General Partner
|
Common Shares |
Additional Paid-in Capital |
Accumulated Dividends in Excess of Net Income |
Accumulated Other Comprehensive Income (Loss) |
Noncontrolling Interests - Unitholders in the Operating Partnership |
Swap |
Swap
American Assets Trust, L.P.
|
Swap
American Assets Trust, L.P.
Accumulated Other Comprehensive Income (Loss)
|
Swap
Accumulated Other Comprehensive Income (Loss)
|
Swap
Noncontrolling Interests - Unitholders in the Operating Partnership
|
Forward Contracts |
Forward Contracts
American Assets Trust, L.P.
|
Forward Contracts
American Assets Trust, L.P.
Accumulated Other Comprehensive Income (Loss)
|
Forward Contracts
Accumulated Other Comprehensive Income (Loss)
|
Forward Contracts
Noncontrolling Interests - Unitholders in the Operating Partnership
|
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Beginning Balance (in shares) at Dec. 31, 2016 | 45,732,109 | ||||||||||||||||||||||||||
| Beginning Balance at Dec. 31, 2016 | $ 838,551 | $ 457 | $ 874,597 | $ (77,296) | $ 11,798 | $ 28,995 | |||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 10,308 | $ 10,308 | $ 2,861 | $ 7,447 | [2] | 7,447 | 2,861 | ||||||||||||||||||||
| Common shares issued (in shares) | 700,000 | ||||||||||||||||||||||||||
| Common shares issued | 30,075 | $ 7 | 30,068 | ||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (768) | ||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | $ 0 | 0 | ||||||||||||||||||||||||
| Dividends declared and paid | (16,723) | (12,072) | (4,651) | ||||||||||||||||||||||||
| Stock-based compensation | 639 | 639 | |||||||||||||||||||||||||
| Other comprehensive loss - change in value of interest rate swaps | (996) | (996) | $ (11,426) | $ (11,426) | $ (11,426) | $ (8,177) | $ (3,249) | $ 10,430 | $ 10,430 | $ 10,430 | $ 7,518 | $ 2,912 | |||||||||||||||
| Reclassification of amortization of forward-starting swap included in interest expense | (145) | (145) | $ (145) | (105) | (40) | ||||||||||||||||||||||
| Ending Balance (in shares) at Mar. 31, 2017 | 46,431,341 | ||||||||||||||||||||||||||
| Ending Balance at Mar. 31, 2017 | 861,709 | $ 464 | $ 905,304 | (81,921) | 11,034 | 26,828 | |||||||||||||||||||||
| Beginning partners' capital account (in shares) at Dec. 31, 2016 | 17,888,822 | 45,732,109 | [2] | ||||||||||||||||||||||||
| Beginning partners' capital account at Dec. 31, 2016 | 838,551 | 16,478 | $ 24,315 | $ 797,758 | [2] | ||||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 10,308 | 10,308 | 2,861 | $ 7,447 | [2] | $ 7,447 | 2,861 | ||||||||||||||||||||
| Contributions from American Assets Trust, Inc. (in shares) | [2] | 700,000 | |||||||||||||||||||||||||
| Contributions from American Assets Trust, Inc. | 30,075 | $ 30,075 | [2] | ||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | [2] | (768) | |||||||||||||||||||||||||
| Distributions | (16,723) | $ (4,651) | $ (12,072) | [2] | |||||||||||||||||||||||
| Stock-based compensation | 639 | $ 639 | [2] | ||||||||||||||||||||||||
| Other comprehensive income (loss) - unrealized (loss) on swap derivative during the period | (996) | (996) | $ (11,426) | $ (11,426) | $ (11,426) | $ (8,177) | $ (3,249) | $ 10,430 | $ 10,430 | $ 10,430 | $ 7,518 | $ 2,912 | |||||||||||||||
| Reclassification of amortization of forward-starting swap included in interest expense | $ (145) | (145) | (145) | $ (105) | $ (40) | ||||||||||||||||||||||
| Ending partners' capital account (in shares) at Mar. 31, 2017 | 17,888,822 | 46,431,341 | [2] | ||||||||||||||||||||||||
| Ending partners' capital account at Mar. 31, 2017 | $ 861,709 | $ 15,337 | $ 22,525 | $ 823,847 | [2] | ||||||||||||||||||||||
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- Definition Partners' Capital Account, Restricted Units Forfeiture No definition available.
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| X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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| X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total change in each class of partners' capital accounts during the year due to unit-based compensation. All partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of each class of partnership units outstanding at the balance sheet date. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Units contributed by each class of partners during the year. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Value of stock related to Restricted Stock Awards forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| OPERATING ACTIVITIES | ||
| Net income | $ 10,308 | $ 10,721 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Deferred rent revenue and amortization of lease intangibles | (1,007) | (964) |
| Depreciation and amortization | 17,986 | 17,453 |
| Amortization of debt issuance costs and debt fair value adjustments | 1,716 | 1,125 |
| Stock-based compensation expense | 639 | 618 |
| Settlement of forward-starting interest rate swaps agreement | 10,430 | 0 |
| Other noncash interest expense | (145) | (57) |
| Other, net | 796 | (1,403) |
| Changes in operating assets and liabilities | ||
| Change in restricted cash | 231 | 2,471 |
| Change in accounts receivable | 1,726 | 12 |
| Change in other assets | (1,038) | (698) |
| Change in accounts payable and accrued expenses | 5,834 | 4,718 |
| Change in security deposits payable | 81 | 108 |
| Change in other liabilities and deferred credits | 279 | 156 |
| Net cash provided by operating activities | 47,836 | 34,260 |
| INVESTING ACTIVITIES | ||
| Capital expenditures | (7,253) | (17,135) |
| Change in restricted cash | (117) | (143) |
| Leasing commissions | (902) | (617) |
| Deposit on property acquisition | (5,000) | 0 |
| Net cash used in investing activities | (13,272) | (17,895) |
| FINANCING ACTIVITIES | ||
| Repayment of secured notes payable | (130,795) | (84,941) |
| Proceeds from unsecured term loan | 0 | 100,000 |
| Proceeds from unsecured line of credit | 0 | 10,000 |
| Repayment of unsecured line of credit | (20,000) | (20,000) |
| Proceeds from unsecured notes payable | 250,000 | 0 |
| Debt issuance costs | (1,812) | (1,503) |
| Proceeds from issuance of common stock, net | 30,075 | 0 |
| Dividends paid to common stock and unitholders | (16,723) | (15,827) |
| Shares withheld for employee taxes | 0 | (12) |
| Net cash provided by (used in) financing activities | 110,745 | (12,283) |
| Net increase in cash and cash equivalents | 145,309 | 4,082 |
| Cash and cash equivalents, beginning of period | 44,801 | 39,925 |
| Cash and cash equivalents, end of period | 190,110 | 44,007 |
| American Assets Trust, L.P. | ||
| OPERATING ACTIVITIES | ||
| Net income | 10,308 | 10,721 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Deferred rent revenue and amortization of lease intangibles | (1,007) | (964) |
| Depreciation and amortization | 17,986 | 17,453 |
| Amortization of debt issuance costs and debt fair value adjustments | 1,716 | 1,125 |
| Stock-based compensation expense | 639 | 618 |
| Settlement of forward-starting interest rate swaps agreement | 10,430 | 0 |
| Other noncash interest expense | (145) | (57) |
| Other, net | 796 | (1,403) |
| Changes in operating assets and liabilities | ||
| Change in restricted cash | 231 | 2,471 |
| Change in accounts receivable | 1,726 | 12 |
| Change in other assets | (1,038) | (698) |
| Change in accounts payable and accrued expenses | 5,834 | 4,718 |
| Change in security deposits payable | 81 | 108 |
| Change in other liabilities and deferred credits | 279 | 156 |
| Net cash provided by operating activities | 47,836 | 34,260 |
| INVESTING ACTIVITIES | ||
| Capital expenditures | (7,253) | (17,135) |
| Change in restricted cash | (117) | (143) |
| Leasing commissions | (902) | (617) |
| Deposit on property acquisition | (5,000) | 0 |
| Net cash used in investing activities | (13,272) | (17,895) |
| FINANCING ACTIVITIES | ||
| Repayment of secured notes payable | (130,795) | (84,941) |
| Proceeds from unsecured term loan | 0 | 100,000 |
| Proceeds from unsecured line of credit | 0 | 10,000 |
| Repayment of unsecured line of credit | (20,000) | (20,000) |
| Proceeds from unsecured notes payable | 250,000 | 0 |
| Debt issuance costs | (1,812) | (1,503) |
| Contributions from American Assets Trust, Inc. | 30,075 | 0 |
| Dividends paid to common stock and unitholders | (16,723) | (15,827) |
| Shares withheld for employee taxes | 0 | (12) |
| Net cash provided by (used in) financing activities | 110,745 | (12,283) |
| Net increase in cash and cash equivalents | 145,309 | 4,082 |
| Cash and cash equivalents, beginning of period | 44,801 | 39,925 |
| Cash and cash equivalents, end of period | $ 190,110 | $ 44,007 |
| X | ||||||||||
- Definition The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt issuance costs and debt fair value adjustments. No definition available.
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount due that is the result of the cumulative difference between actual rent due and rental income recognized on a straight-line basis. Also includes the amortization of lease intangibles. No definition available.
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| X | ||||||||||
- Definition Gain (loss) on settlement of forward swap contract included in accumulated other comprehensive income to be amortized as interest expense over the life of related debt instrument. No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of amortization expense attributable to debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount of (a) prepayments by customers for goods or services to be provided at a later date, (b) the amount of customer money held in customer accounts, including security deposits, collateral for a current or future transactions, initial payment of the cost of acquisition or for the right to enter into a contract or agreement, or (c) a combination of (a) and (b). No definition available.
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| X | ||||||||||
- Definition The increase (decrease) in the balance of capitalized lease acquisition costs during the period. The cost usually covers a variety of administrative costs, such as the cost of obtaining a credit report, verifying insurance coverage, lease commission charges, checking the accuracy and completeness of the lease documentation, and entering the lease in data processing and accounting systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in deferred obligations classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Cash outflow related to amounts given in advance to show or confirm an intention to complete an acquisition of land, buildings, other structures, or any item classified as real estate. No definition available.
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| X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the issuance of long-term debt that is not secured by collateral. Excludes proceeds from tax exempt unsecured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the capital received in cash from a partner in a partnership during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is uncollateralized (where debt is not backed by the pledge of collateral). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Organization American Assets Trust, Inc. (which may be referred to in these financial statements as the “Company,” “we,” “us,” or “our”) is a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering on January 19, 2011. The Company is the sole general partner of American Assets Trust, L.P., a Maryland limited partnership formed on July 16, 2010 (the “Operating Partnership”). The Company’s operations are carried on through our Operating Partnership and its subsidiaries, including our taxable real estate investment trust ("REIT") subsidiary ("TRS"). Since the formation of our Operating Partnership, the Company has controlled our Operating Partnership as its general partner and has consolidated its assets, liabilities and results of operations. We are a full service vertically integrated and self-administered REIT with approximately 159 employees providing substantial in-house expertise in asset management, property management, property development, leasing, tenant improvement construction, acquisitions, repositioning, redevelopment and financing. As of March 31, 2017, we owned or had a controlling interest in 24 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of March 31, 2017, we owned land at four of our properties that we classify as held for development and/or construction in progress. A summary of the properties owned by us is as follows:
Basis of Presentation Our consolidated financial statements include the accounts of the Company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. The accompanying consolidated financial statements of the Company and the Operating Partnership have been prepared in accordance with the rules applicable to Form 10-Q and include all information and footnotes required for interim financial statement presentation, but do not include all disclosures required under accounting principles generally accepted in the United States (“GAAP”) for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments, except as otherwise noted) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and notes therein included in the Company's and Operating Partnership's annual report on Form 10-K for the year ended December 31, 2016. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using our best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Any reference to the number of properties, square footage, employee numbers or percentages of beneficial ownership of our shares are unaudited and outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. Consolidated Statements of Cash Flows—Supplemental Disclosures The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):
Significant Accounting Policies We describe our significant accounting policies in Note 1 to the consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2016. Except for the adoption of the accounting standards during the first quarter of 2017 as discussed below, there have been no changes to our significant accounting policies during the three months ended March 31, 2017. Segment Information Segment information is prepared on the same basis that our chief operating decision maker reviews information for operational decision-making purposes. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel. Recent Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-1, Business Combinations: Clarifying the Definition of a Business. The pronouncement changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The pronouncement requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU 2017-01 effective January 1, 2017 and given the change in the definition, we expect most of our future real estate acquisitions will be accounted for as asset acquisitions in accordance with Accounting Standards Codification ("ASC")Topic 805, which provides for the capitalization of transaction costs. In November 2016, the FASB issued ASU 2016-18, Restricted Cash. This pronouncement will require companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement will require a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. Entities with material restricted cash and restricted cash equivalents balances will be required to disclose the nature of the restrictions. The ASU is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. As of March 31, 2017 and December 31, 2016 , we had $10 million of restricted cash for both periods on our consolidated balance sheets. Upon adoption of this ASU, restricted cash balances will be included along with cash and cash equivalents as of the end of period and beginning of period, respectively, on our consolidated statement of cash flows for all periods presented; separate line items showing changes in restricted cash balances will be eliminated from our consolidated statement of cash flows. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends ASC 718, Compensation – Stock Compensation. This pronouncement simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted ASU 2016-09 in the first quarter of 2017 and the adoption did not have a material impact on our consolidated financial statements. In February 2016, the FASB issued an ASU that establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. The accounting applied by lessors under this ASU is largely unchanged. Leases will be either classified as sales-type, finance or operating, with classification affecting the pattern of expense recognition in the income statement. The ASU also requires significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are in the process of evaluating the impact this pronouncement will have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for fiscal years beginning after December 15, 2017. The Company will adopt ASU 2014-09 in the first quarter of 2018. We have begun our process for implementing this standard, including performing a preliminary review of all revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. We are continuing to evaluate this standard and the allowable methods of adoption; however, the majority of our revenue consists of rental income from leasing arrangements, which are excluded from this standard. |
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- References No definition available.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES | ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES The following summarizes our acquired lease intangibles and leasing costs, which are included in other assets and other liabilities and deferred credits, as of March 31, 2017 and December 31, 2016 (in thousands):
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- References No definition available.
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE OF FINANCIAL INSTRUMENTS |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows:
Except as disclosed below, the carrying amounts of our financial instruments approximate their fair value. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. We measure the fair value of our deferred compensation liability, which is included in other liabilities and deferred credits on the consolidated balance sheet, on a recurring basis using Level 2 inputs. We measure the fair value of this liability based on prices provided by independent market participants that are based on observable inputs using market-based valuation techniques. The fair value of the interest rate swap agreements are based on the estimated amounts we would receive or pay to terminate the contract at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded in accumulated other comprehensive income (loss) and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. We incorporate credit valuation adjustments to appropriately reflect both our own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of our derivative contract for the effect of non-performance risk, we considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of March 31, 2017 we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative position and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivative. As a result, we have determined that our derivative valuation in its entirety is classified in Level 2 of the fair value hierarchy. A summary of our financial liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows (in thousands):
The fair value of our secured notes payable and unsecured senior guaranteed notes are sensitive to fluctuations in interest rates. Discounted cash flow analysis using observable market interest rates (Level 2) is generally used to estimate the fair value of our secured notes payable, using rates ranging from 3.9% to 4.6%. Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The carrying values of our revolving line of credit and term loan set forth below are deemed to be at fair value since the outstanding debt is directly tied to monthly LIBOR contracts. A summary of the carrying amount and fair value of our secured financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):
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- References No definition available.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DERIVATIVE AND HEDGING ACTIVITIES |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVE AND HEDGING ACTIVITIES | DERIVATIVE AND HEDGING ACTIVITIES Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish these objectives, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. On March 29, 2016, we entered into a forward-starting interest rate swap contract (the "March 2016 Swap") with Wells Fargo Bank, National Association to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective new ten-year private placement. The forward-starting ten-year swap contract had a notional amount of $150 million, a termination date of March 31, 2027, a fixed pay rate of 1.8800%, and a receive rate equal to the three-month LIBOR, with fixed rate payments due semi-annually commencing September 29, 2017, floating payments due semi-annually commencing September 29, 2017, and floating reset dates the first day of each quarterly period. The forward-starting ten-year swap contract accrual period, March 31, 2017 to March 31, 2027, was designed to match the expected tenor of the then prospective new ten-year debt private placement. On April 7, 2016, we entered into a forward-starting interest rate swap contract (the "April 2016 Swap") with Wells Fargo Bank, National Association to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective new ten-year private placement. The forward-starting ten-year swap contract had a notional amount of $100 million, a termination date of March 31, 2027, a fixed pay rate of 1.7480%, and a receive rate equal to the three-month LIBOR, with fixed rate payments due semi-annually commencing September 29, 2017, floating payments due semi-annually commencing September 29, 2017, and floating reset dates the first day of each quarterly period. The forward-starting ten-year swap contract accrual period, March 31, 2017 to March 31, 2027, was designed to match the expected tenor of our then prospective new ten-year debt private placement. On January 18, 2017, we settled the March 2016 Swap and April 2016 Swap, resulting in a gain of approximately $10.4 million. This gain is included in accumulated other comprehensive income and will be amortized to interest expense over the life of the Series D Notes (as defined below). The forward-starting interest rate swap contracts have been deemed to be highly effective cash flow hedges and we elected to designate all the forward-starting swap contracts as accounting hedges. The following is a summary of the terms of our outstanding interest rate swaps as of March 31, 2017 (dollars in thousands):
The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded in accumulated other comprehensive income and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves, and implied volatilities. The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. |
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- References No definition available.
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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OTHER ASSETS |
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER ASSETS | OTHER ASSETS Other assets consist of the following (in thousands):
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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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OTHER LIABILITIES AND DEFERRED CREDITS |
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| Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER LIABILITIES AND DEFERRED CREDITS | OTHER LIABILITIES AND DEFERRED CREDITS Other liabilities and deferred credits consist of the following (in thousands):
Straight-line rent liability relates to leases which have rental payments that decrease over time or one-time upfront payments for which the rental revenue is deferred and recognized on a straight-line basis. |
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- References No definition available.
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- Definition The entire disclosure for other liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEBT |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DEBT | DEBT Debt of American Assets Trust, Inc. American Assets Trust, Inc. does not hold any indebtedness. All debt is held directly or indirectly by the Operating Partnership; however, American Assets Trust, Inc. and certain of its subsidiaries have guaranteed the Operating Partnership's obligations under the (i) amended and restated credit facility, (ii) term loan and (iii) senior guaranteed notes. Additionally, American Assets Trust, Inc. has provided carve-out guarantees on certain property-level debt. Debt of American Assets Trust, L.P. Secured notes payable The following is a summary of our total secured notes payable outstanding as of March 31, 2017 and December 31, 2016 (in thousands):
Certain loans require us to comply with various financial covenants. As of March 31, 2017, the Operating Partnership was in compliance with these financial covenants. Unsecured notes payable The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of March 31, 2017 and December 31, 2016 (in thousands):
On March 1, 2017, the Operating Partnership entered into a Note Purchase Agreement for the private placement of $250 million of 4.29% Senior Guaranteed Notes, Series D, due March 1, 2027 (the "Series D Notes"). The Series D Notes were issued on March 1, 2017 and will pay interest quarterly on the last day of January, April, July and October until their respective maturities. The Operating Partnership may prepay at any time all, or from time to time any part of, the Series D Notes, in an amount not less than 5% of the aggregate principal amount of any series of the Series D Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus a Make-Whole Amount (as defined in the Note Purchase Agreement). The Note Purchase Agreement contains a number of customary financial covenants, including, without limitation, tangible net worth thresholds, secured and unsecured leverage ratios and fixed charge coverage ratios. Subject to the terms of the Note Purchase Agreement and the Series D Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal, Make-Whole Amount or interest under the Series D Notes, and (ii) a default in the payment of certain other indebtedness of the Operating Partnership, the Company or their subsidiaries, the principal and accrued and unpaid interest and the Make-Whole Amount on the outstanding Series D Notes will become due and payable at the option of the Purchasers. The Operating Partnership’s obligations under the Series D Notes are fully and unconditionally guaranteed by the Company and certain of their subsidiaries. Certain loans require us to comply with various financial covenants. As of March 31, 2017, the Operating Partnership was in compliance with these financial covenants. Credit Facility On January 9, 2014, the Operating Partnership entered into an amended and restated credit agreement (the "Amended and Restated Credit Facility") which amended and restated the then in-place credit facility. The Amended and Restated Credit Facility provides for aggregate, unsecured borrowing of $350 million, consisting of a revolving line of credit of $250 million ("Revolver Loan") and a term loan of $100 million ("Term Loan A"). The Amended and Restated Credit Facility has an accordion feature that may allow the Operating Partnership to increase the availability thereunder up to an additional $250 million, subject to meeting specified requirements and obtaining additional commitments from lenders. At March 31, 2017, there was no outstanding balance under the Revolver Loan. Borrowings under the Amended and Restated Credit Facility initially bear interest at floating rates equal to, at our option, either (1) LIBOR, plus a spread which ranges from (a) 1.35%-1.95% (with respect to the Revolver Loan) and (b) 1.30% to 1.90% (with respect to Term Loan A), in each case based on our consolidated leverage ratio, or (2) a base rate equal to the highest of (a) the prime rate, (b) the federal funds rate plus 50 bps or (c) the Eurodollar rate plus 100 bps, plus a spread which ranges from (i) 0.35%-0.95% (with respect to the Revolver Loan) and (ii) 0.30% to 0.90% (with respect to Term Loan A), in each case based on our consolidated leverage ratio. The Revolver Loan initially matures on January 9, 2018, subject to the Operating Partnership's option to extend the Revolver Loan up to two times, with each such extension for a six-month period. Term Loan A initially matures on January 9, 2016, subject to the Operating Partnership's option to extend Term Loan A up to three times, with each such extension for a 12-month period. The foregoing extension options are exercisable by the Operating Partnership subject to the satisfaction of certain conditions. Effective as of January 9, 2017, the Operating Partnership exercised the second of three options to extend the maturity date of Term Loan A to January 9, 2018. As of March 31, 2017, the Operating Partnership was in compliance with the Amended and Restated Credit Facility financial covenants. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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PARTNERS CAPITAL OF AMERICAN ASSETS TRUST, L.P. |
3 Months Ended |
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Mar. 31, 2017 | |
| Equity [Abstract] | |
| PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. | PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. Noncontrolling interests in our Operating Partnership are interests in the Operating Partnership that are not owned by us. Noncontrolling interests consisted of 17,888,822 common units (the “noncontrolling common units”), and represented approximately 27.9% of the ownership interests in our Operating Partnership at March 31, 2017. Common units and shares of our common stock have essentially the same economic characteristics in that common units and shares of our common stock share equally in the total net income or loss distributions of our Operating Partnership. Investors who own common units have the right to cause our Operating Partnership to redeem any or all of their common units for cash equal to the then-current market value of one share of our common stock, or, at our election, shares of our common stock on a one-for-one basis. During the three months ended March 31, 2017, there were no conversions of common units into shares of our common stock. Earnings Per Unit of the Operating Partnership Basic earnings (loss) per unit (“EPU”) of the Operating Partnership is computed by dividing income (loss) applicable to unitholders by the weighted average Operating Partnership units outstanding, as adjusted for the effect of participating securities. Operating Partnership units granted in equity-based payment transactions that have non-forfeitable dividend equivalent rights are considered participating securities prior to vesting. The impact of unvested Operating Partnership unit awards on EPU has been calculated using the two-class method whereby earnings are allocated to the unvested Operating Partnership unit awards based on distributions and the unvested Operating Partnership units’ participation rights in undistributed earnings (losses). The calculation of diluted earnings per unit for the three month periods ended March 31, 2017 and 2016 does not include the weighted average of 232,099 and 173,594 unvested Operating Partnership units, respectively, as these equity securities are either considered contingently issuable or the effect of including these equity securities was anti-dilutive to income from continuing operations and net income attributable to the unitholders. |
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- References No definition available.
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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EQUITY OF AMERICAN ASSETS TRUST, INC. |
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| EQUITY OF AMERICAN ASSETS TRUST, INC. | EQUITY OF AMERICAN ASSETS TRUST, INC. Stockholders' Equity On May 27, 2015, we entered into an at-the-market ("ATM") equity program with five sales agents in which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $250.0 million. The sales of shares of our common stock made through the ATM equity program are made in "at-the-market" offerings as defined in Rule 415 of the Securities Act of 1933, as amended. During the three months ended March 31, 2017, the following shares of common stock were sold through the ATM equity programs (in thousands, except per share data and share amounts):
We intend to use the net proceeds from the ATM equity program to fund our development or redevelopment activities, repay amounts outstanding from time to time under our revolving line of credit or other debt financing obligations, fund potential acquisition opportunities and/or for general corporate purposes. As of March 31, 2017, we had the capacity to issue up to an additional $176.2 million in shares of our common stock under our ATM equity program. Actual future sales will depend on a variety of factors including, but not limited to, market conditions, the trading price of our common stock and our capital needs. We have no obligation to sell the remaining shares available for sale under the ATM equity program. Dividends The following table lists the dividends declared and paid on our shares of common stock and noncontrolling common units during the three months ended March 31, 2017:
Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders and holders of common units, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation. Stock-Based Compensation We follow the FASB guidance related to stock compensation which establishes financial accounting and reporting standards for stock-based employee compensation plans, including all arrangements by which employees receive shares of stock or other equity instruments of the employer, or the employer incurs liabilities to employees in amounts based on the price of the employer's stock. The guidance also defines a fair value-based method of accounting for an employee stock option or similar equity instrument. The following table summarizes the activity of restricted stock awards during the three months ended March 31, 2017:
We recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized $0.6 million in noncash compensation expense for both the three months ended March 31, 2017 and 2016, which is included in general and administrative expense on the consolidated statements of comprehensive income. Unrecognized compensation expense was $3.1 million at March 31, 2017. Earnings Per Share We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of common stock and participating security is calculated according to dividends declared and participation rights in undistributed earnings. The weighted average unvested shares outstanding, which are considered participating securities, were 232,099 and 173,594 for the three months ended March 31, 2017 and 2016, respectively. Therefore, we have allocated our earnings for basic and diluted EPS between common shares and unvested shares as these unvested shares have nonforfeitable dividend equivalent rights. Diluted EPS is calculated by dividing the net income applicable to common stockholders for the period by the weighted average number of common and dilutive instruments outstanding during the period using the treasury stock method. For the three months ended March 31, 2017 and 2016, diluted shares exclude incentive restricted stock as these awards are considered contingently issuable. Additionally, the unvested restricted stock awards subject to time vesting are anti-dilutive for all periods presented, and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS. The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):
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- References No definition available.
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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. No definition available.
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INCOME TAXES |
3 Months Ended |
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Mar. 31, 2017 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES We elected to be taxed as a REIT and operate in a manner that allows us to qualify as a REIT for federal income tax purposes commencing with our initial taxable year. As a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. Taxable income from non-REIT activities managed through our TRS is subject to federal and state income taxes. We lease our hotel property to a wholly owned TRS that is subject to federal and state income taxes. We account for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between GAAP carrying amounts and their respective tax bases. Additionally, we classify certain state taxes as income taxes for financial reporting purposes in accordance with ASC Topic 740, Income Taxes. A deferred tax liability of $0.3 million as of March 31, 2017 and December 31, 2016 is included on our consolidated balance sheets in relation to real estate asset basis differences of property subject to the Texas margin tax and certain prepaid expenses of our TRS. Income tax expense is recorded in other income (expense), net on our consolidated statements of comprehensive income. For the three months ended March 31, 2017 and 2016, we recorded income tax benefit of $0.2 million and income tax expense of $0.1 million, respectively. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMMITMENTS AND CONTINGENCIES |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Legal We are sometimes involved in various disputes, lawsuits, warranty claims, environmental and other matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters. We are currently a party to various legal proceedings. We accrue a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, we accrue the best estimate within the range; however, if no amount within the range is a better estimate than any other amount, the minimum within the range is accrued. Legal fees related to litigation are expensed as incurred. We do not believe that the ultimate outcome of these matters, either individually or in the aggregate, could have a material adverse effect on our financial position or overall trends in results of operations; however, litigation is subject to inherent uncertainties. Also, under our leases, tenants are typically obligated to indemnify us from and against all liabilities, costs and expenses imposed upon or asserted against us as owner of the properties due to certain matters relating to the operation of the properties by the tenant. Commitments At The Landmark at One Market, we lease (the "Annex Lease"), as lessee, a building adjacent to The Landmark under an operating lease effective through June 30, 2021, which we have the option to extend until 2031 by way of two five-year extension options. At Waikiki Beach Walk, we sublease (the "FHB Sublease") a portion of the building of which Quiksilver is currently in possession, under an operating lease effective through December 31, 2021. Current minimum annual payments under the leases are as follows, as of March 31, 2017 (in thousands):
We have management agreements with Outrigger Hotels & Resorts or an affiliate thereof (“Outrigger”) pursuant to which Outrigger manages each of the retail and hotel portions of the Waikiki Beach Walk property. Under the management agreement with Outrigger relating to the retail portion of Waikiki Beach Walk (the “retail management agreement”), we pay Outrigger a monthly management fee of 3.0% of net revenues from the retail portion of Waikiki Beach Walk. Pursuant to the terms of the retail management agreement, if the agreement is terminated in certain instances, including our election not to repair damage or destruction at the property, a condemnation or our failure to make required working capital infusions, we would be obligated to pay Outrigger a termination fee equal to the sum of the management fees paid for the two calendar months immediately preceding the termination date. The retail management agreement may not be terminated by us or by Outrigger without cause. Under our management agreement with Outrigger relating to the hotel portion of Waikiki Beach Walk (the “hotel management agreement”), we pay Outrigger a monthly management fee of 6.0% of the hotel's gross operating profit, as well as 3.0% of the hotel's gross revenues; provided that the aggregate management fee payable to Outrigger for any year shall not exceed 3.5% of the hotel's gross revenues for such fiscal year. Pursuant to the terms of the hotel management agreement, if the agreement is terminated in certain instances, including upon a transfer by us of the hotel or upon a default by us under the hotel management agreement, we would be required to pay a cancellation fee calculated by multiplying (1) the management fees for the previous 12 months by (2) (a) eight, if the agreement is terminated in the first 11 years of its term, or (b) four, three, two or one, if the agreement is terminated in the twelfth, thirteenth, fourteenth or fifteenth year, respectively, of its term. The hotel management agreement may not be terminated by us or by Outrigger without cause. A wholly owned subsidiary of our Operating Partnership, WBW Hotel Lessee LLC, entered into a franchise license agreement with Embassy Suites Franchise LLC, the franchisor of the brand “Embassy Suites™,” to obtain the non-exclusive right to operate the hotel under the Embassy SuitesTM brand for 20 years. The franchise license agreement provides that WBW Hotel Lessee LLC must comply with certain management, operational, record keeping, accounting, reporting and marketing standards and procedures. In connection with this agreement, we are also subject to the terms of a product improvement plan pursuant to which we expect to undertake certain actions to ensure that our hotel's infrastructure is maintained in compliance with the franchisor's brand standards. In addition, we must pay to Embassy Suites Franchise LLC a monthly franchise royalty fee equal to 4.0% of the hotel's gross room revenue through December 2021 and 5.0% of the hotel's gross room revenue thereafter, as well as a monthly program fee equal to 4.0% of the hotel's gross room revenue. If the franchise license is terminated due to our failure to make required improvements or to otherwise comply with its terms, we may be liable to the franchisor for a termination payment, which could be as high as $7.4 million based on operating performance through March 31, 2017. Our Del Monte Center property has ongoing environmental remediation related to ground water contamination. The environmental issue existed at purchase and remains in remediation. The final stages of the remediation will include routine, long term ground monitoring by the appropriate regulatory agency over the next five to seven years. The work performed is financed through an escrow account funded by the seller upon purchase of the Del Monte Center. We believe the funds in the escrow account are sufficient for the remaining work to be performed. However, if further work is required costing more than the remaining escrow funds, we could be required to pay such overage, although we may have a contractual claim for such costs against the prior owner or our environmental remediation consultant. In connection with our initial public offering, we entered into tax protection agreements with certain limited partners of our Operating Partnership. These agreements provide that if we dispose of any interest with respect to Carmel Country Plaza, Carmel Mountain Plaza, Del Monte Center, Loma Palisades, Lomas Santa Fe Plaza, Waikele Center or the Torrey Plaza (formerly ICW Plaza) portion of Torrey Reserve Campus, in a taxable transaction during the period from the closing of our initial public offering through January 19, 2018, we will indemnify such limited partners for their tax liabilities attributable to their share of the built-in gain that existed with respect to such property interest as of the time of our initial public offering and tax liabilities incurred as a result of the reimbursement payment. Subject to certain exceptions and limitations, the indemnification rights will terminate for any such protected partner that sells, exchanges or otherwise disposes of more than 50% of his or her common units. We have no present intention to sell or otherwise dispose of the properties or interest therein in taxable transactions during the restriction period. If we were to trigger the tax protection provisions under these agreements, we would be required to pay damages in the amount of the taxes owed by these limited partners (plus additional damages in the amount of the taxes incurred as a result of such payment). Concentrations of Credit Risk Our properties are located in Southern California, Northern California, Hawaii, Oregon, Texas, and Washington. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory and social factors affecting the markets in which the tenants operate. Eleven of our consolidated properties are located in Southern California, which exposes us to greater economic risks than if we owned a more geographically diverse portfolio. Tenants in the retail industry accounted for 33.6% of total revenues for the three months ended March 31, 2017. This makes us susceptible to demand for retail rental space and subject to the risks associated with an investment in real estate with a concentration of tenants in the retail industry. Furthermore, tenants in the office industry accounted for 35.2% of total revenues for the three months ended March 31, 2017. This makes us susceptible to demand for office rental space and subject to the risks associated with an investment in real estate with a concentration of tenants in the office industry. For the three months ended March 31, 2017 and 2016, no tenant accounted for more than 10% of our total rental revenue. |
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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OPERATING LEASES |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| OPERATING LEASES | OPERATING LEASES Our leases with office, retail, mixed-use and residential tenants are classified as operating leases. Leases at our office and retail properties and the retail portion of our mixed-use property generally range from three to ten years (certain leases with anchor tenants may be longer), and in addition to minimum rents, usually provide for cost recoveries for the tenant’s share of certain operating costs and also may include percentage rents based on the tenant’s level of sales achieved. Leases on apartments generally range from 7 to 15 months, with a majority having 12-month lease terms. Rooms at the hotel portion of our mixed-use property are rented on a nightly basis. As of March 31, 2017, minimum future rentals from noncancelable operating leases, before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows (in thousands):
The above future minimum rentals exclude residential leases, which typically have a term of 12 months or less, and exclude the hotel, as rooms are rented on a nightly basis. |
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- References No definition available.
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- Definition The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMPONENTS OF RENTAL INCOME AND EXPENSE |
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| COMPONENTS OF RENTAL INCOME AND EXPENSE | COMPONENTS OF RENTAL INCOME AND EXPENSE The principal components of rental income are as follows (in thousands):
Minimum rents include $0.2 million and $0.1 million for the three months ended March 31, 2017 and 2016, respectively, to recognize minimum rents on a straight-line basis. In addition, net amortization of above and below market leases included in minimum rents were $0.9 million and $0.8 million for the three months ended March 31, 2017 and 2016, respectively. The principal components of rental expenses are as follows (in thousands):
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- Definition The entire disclosure of the principle components of rental income and/or rental expense recognized for the period. No definition available.
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- References No definition available.
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OTHER INCOME, NET |
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| OTHER EXPENSE, NET | OTHER INCOME, NET The principal components of other income (expense), net, are as follows (in thousands):
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- References No definition available.
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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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RELATED PARTY TRANSACTIONS |
3 Months Ended |
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Mar. 31, 2017 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS At Torrey Plaza, we lease space to Insurance Company of the West, a California corporation ("ICW"), which is an insurance company majority owned and controlled by Ernest Rady, our Chief Executive Officer, President and Chairman of the Board. Our lease agreement with ICW expired on December 31, 2016. Rental revenue recognized on the leases of $0.6 million for the three months ended March 31, 2016 is included in rental income. Additionally, we maintain a workers' compensation insurance policy with ICW, which was renewed on July 1, 2016 and the premium is approximately $0.2 million for the period July 1, 2016 through July 1, 2017. The Waikiki Beach Walk entities have a 47.7% investment in WBW CHP LLC, an entity that was formed to, among other things, construct a chilled water plant to provide air conditioning to the property and other adjacent facilities. The operating expenses of WBW CHP LLC are recovered through reimbursements from its members, and reimbursements to WBW CHP LLC of $0.3 million and $0.2 million for the three months ended March 31, 2017 and 2016, respectively, is included in rental expenses on the statements of comprehensive income. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SEGMENT REPORTING |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT REPORTING | SEGMENT REPORTING Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel. We evaluate the performance of our segments based on segment profit, which is defined as property revenue less property expenses. We do not use asset information as a measure to assess performance and make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, interest expense, depreciation and amortization expense and other income and expense are not included in segment profit as our internal reporting addresses these items on a corporate level. Segment profit is not a measure of operating income or cash flows from operating activities as measured by GAAP, and it is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate segment profit in the same manner. We consider segment profit to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of our properties. The following table represents operating activity within our reportable segments (in thousands):
The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):
The following table shows net real estate and secured note payable balances for each of the segments (in thousands):
Capital expenditures for each segment for the three months ended March 31, 2017 and 2016 were as follows (in thousands):
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- References No definition available.
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUBSEQUENT EVENTS |
3 Months Ended |
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Mar. 31, 2017 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On April 28, 2017, we acquired the Pacific Ridge Apartments, a 533 unit, multifamily community, built in 2013 and located in San Diego, California. The purchase price was approximately $232 million, excluding closing costs and prorations. The property was acquired with cash on hand and borrowings under our Amended and Restated Credit Agreement. On April 25, 2017, we entered into a treasury lock contract with Bank of America, National Association to reduce the interest rate variability exposure of the projected interest cash flows of our prospective twelve-year debt offering (anticipated to close in May or June 2017). The treasury lock contract had a notional amount of $100 million, a termination date of May 18, 2017, a fixed pay rate of 2.313%, and a receive rate equal to the ten-year treasury rate on the settlement date. There can be no assurances that the prospective debt offering described above will close on the term described herein, or at all. The treasury lock contract was deemed to be highly effective cash flow hedge and we elected to designate the treasury lock contract as an accounting hedge. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
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Mar. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business and Organization | Business and Organization American Assets Trust, Inc. (which may be referred to in these financial statements as the “Company,” “we,” “us,” or “our”) is a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering on January 19, 2011. The Company is the sole general partner of American Assets Trust, L.P., a Maryland limited partnership formed on July 16, 2010 (the “Operating Partnership”). The Company’s operations are carried on through our Operating Partnership and its subsidiaries, including our taxable real estate investment trust ("REIT") subsidiary ("TRS"). Since the formation of our Operating Partnership, the Company has controlled our Operating Partnership as its general partner and has consolidated its assets, liabilities and results of operations. We are a full service vertically integrated and self-administered REIT with approximately 159 employees providing substantial in-house expertise in asset management, property management, property development, leasing, tenant improvement construction, acquisitions, repositioning, redevelopment and financing. As of March 31, 2017, we owned or had a controlling interest in 24 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of March 31, 2017, we owned land at four of our properties that we classify as held for development and/or construction in progress. A summary of the properties owned by us is as follows:
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| Basis of Presentation | Basis of Presentation Our consolidated financial statements include the accounts of the Company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. The accompanying consolidated financial statements of the Company and the Operating Partnership have been prepared in accordance with the rules applicable to Form 10-Q and include all information and footnotes required for interim financial statement presentation, but do not include all disclosures required under accounting principles generally accepted in the United States (“GAAP”) for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments, except as otherwise noted) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and notes therein included in the Company's and Operating Partnership's annual report on Form 10-K for the year ended December 31, 2016. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using our best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Any reference to the number of properties, square footage, employee numbers or percentages of beneficial ownership of our shares are unaudited and outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. |
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| Significant Accounting Policies | Significant Accounting Policies We describe our significant accounting policies in Note 1 to the consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2016. Except for the adoption of the accounting standards during the first quarter of 2017 as discussed below, there have been no changes to our significant accounting policies during the three months ended March 31, 2017. |
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| Segment Information | Segment Information Segment information is prepared on the same basis that our chief operating decision maker reviews information for operational decision-making purposes. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel. |
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-1, Business Combinations: Clarifying the Definition of a Business. The pronouncement changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The pronouncement requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU 2017-01 effective January 1, 2017 and given the change in the definition, we expect most of our future real estate acquisitions will be accounted for as asset acquisitions in accordance with Accounting Standards Codification ("ASC")Topic 805, which provides for the capitalization of transaction costs. In November 2016, the FASB issued ASU 2016-18, Restricted Cash. This pronouncement will require companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement will require a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. Entities with material restricted cash and restricted cash equivalents balances will be required to disclose the nature of the restrictions. The ASU is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. As of March 31, 2017 and December 31, 2016 , we had $10 million of restricted cash for both periods on our consolidated balance sheets. Upon adoption of this ASU, restricted cash balances will be included along with cash and cash equivalents as of the end of period and beginning of period, respectively, on our consolidated statement of cash flows for all periods presented; separate line items showing changes in restricted cash balances will be eliminated from our consolidated statement of cash flows. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends ASC 718, Compensation – Stock Compensation. This pronouncement simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted ASU 2016-09 in the first quarter of 2017 and the adoption did not have a material impact on our consolidated financial statements. In February 2016, the FASB issued an ASU that establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. The accounting applied by lessors under this ASU is largely unchanged. Leases will be either classified as sales-type, finance or operating, with classification affecting the pattern of expense recognition in the income statement. The ASU also requires significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are in the process of evaluating the impact this pronouncement will have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for fiscal years beginning after December 15, 2017. The Company will adopt ASU 2014-09 in the first quarter of 2018. We have begun our process for implementing this standard, including performing a preliminary review of all revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. We are continuing to evaluate this standard and the allowable methods of adoption; however, the majority of our revenue consists of rental income from leasing arrangements, which are excluded from this standard. |
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| Fair Value Measurement, Policy | A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows:
Except as disclosed below, the carrying amounts of our financial instruments approximate their fair value. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. |
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- Definition Business and organization. No definition available.
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- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. No definition available.
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated Statements of Cash Flows-Supplemental Disclosures | The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):
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- References No definition available.
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- Definition Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES (Tables) |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of acquired lease intangibles included in other assets and other liabilities | The following summarizes our acquired lease intangibles and leasing costs, which are included in other assets and other liabilities and deferred credits, as of March 31, 2017 and December 31, 2016 (in thousands):
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- References No definition available.
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial liabilities measured at fair value on recurring basis | A summary of our financial liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows (in thousands):
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| Carrying amount and fair value of financial instruments | A summary of the carrying amount and fair value of our secured financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):
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- References No definition available.
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DERIVATIVE AND HEDGING ACTIVITIES (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Interest Rate Derivatives | The following is a summary of the terms of our outstanding interest rate swaps as of March 31, 2017 (dollars in thousands):
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
OTHER ASSETS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Other Assets | Other assets consist of the following (in thousands):
|
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
|
OTHER LIABILITIES AND DEFERRED CREDITS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities and deferred credits | Other liabilities and deferred credits consist of the following (in thousands):
|
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| X | ||||||||||
- Definition Tabular disclosure of other liabilities and deferred credits not separately disclosed on the balance sheet. No definition available.
|
| X | ||||||||||
- References No definition available.
|
DEBT (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of total secured notes payable outstanding | The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of March 31, 2017 and December 31, 2016 (in thousands):
The following is a summary of our total secured notes payable outstanding as of March 31, 2017 and December 31, 2016 (in thousands):
|
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
|
EQUITY OF AMERICAN ASSETS TRUST, INC. (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of At-the-Market Program | During the three months ended March 31, 2017, the following shares of common stock were sold through the ATM equity programs (in thousands, except per share data and share amounts):
|
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| Dividends declared and paid on shares of common stock and noncontrolling common units | The following table lists the dividends declared and paid on our shares of common stock and noncontrolling common units during the three months ended March 31, 2017:
|
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| Activity of restricted stock awards | The following table summarizes the activity of restricted stock awards during the three months ended March 31, 2017:
|
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| Computation of basic and diluted EPS | The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):
|
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| X | ||||||||||
- Definition Dividends declared and paid on shares of common stock and noncontrolling common units. No definition available.
|
| X | ||||||||||
- Definition [Table Text Block] for Schedule of At-the-Market Program [Table] No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
|
COMMITMENTS AND CONTINGENCIES (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current minimum annual payments under the leases | Current minimum annual payments under the leases are as follows, as of March 31, 2017 (in thousands):
|
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
OPERATING LEASES (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Current minimum future rentals under the leases | As of March 31, 2017, minimum future rentals from noncancelable operating leases, before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows (in thousands):
|
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| X | ||||||||||
- Definition Schedule of future minimum base rentals on non cancelable office and retail operating leases. No definition available.
|
| X | ||||||||||
- References No definition available.
|
COMPONENTS OF RENTAL INCOME AND EXPENSE (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of rental income | The principal components of rental income are as follows (in thousands):
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| Principal components of rental expenses | The principal components of rental expenses are as follows (in thousands):
|
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| X | ||||||||||
- Definition Components of rental expense. No definition available.
|
| X | ||||||||||
- Definition Components of rental income. No definition available.
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| X | ||||||||||
- References No definition available.
|
OTHER INCOME, NET (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of other expense, net | The principal components of other income (expense), net, are as follows (in thousands):
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. No definition available.
|
SEGMENT REPORTING (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segments operating activity | The following table represents operating activity within our reportable segments (in thousands):
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| Reconciliation of segment profit to net income attributable to stockholders | The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):
|
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| Net real estate and secured note payable balances by segments | The following table shows net real estate and secured note payable balances for each of the segments (in thousands):
|
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| Capital expenditures for each segment | Capital expenditures for each segment for the three months ended March 31, 2017 and 2016 were as follows (in thousands):
|
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| X | ||||||||||
- Definition Tabular disclosure of the net real estate and secured note payable balances by segment. No definition available.
|
| X | ||||||||||
- Definition Reconciliation of segment profit to net income attributable to stockholders. No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the net increase (decrease) in operating capital in the operating section of the statement of cash flows, represents the entire footnote disclosure that provides details regarding the net change during the reporting period of all assets and liabilities used in operating activities. No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2017
USD ($)
Employee
Segment
Room
Property
|
Dec. 31, 2016
USD ($)
|
|
| Accounting Policies [Abstract] | ||
| Restricted cash | $ | $ 9,836 | $ 9,950 |
| Number of employees | Employee | 159 | |
| Office, retail, multifamily, and mixed-use operating properties | 24 | |
| Properties held for development | 4 | |
| Number of operating segments | Segment | 4 | |
| Room in mixed-use segment all-suite hotel | Room | 369 |
| X | ||||||||||
- Definition Number of rooms in mixed use segment all suite hotel. No definition available.
|
| X | ||||||||||
- Definition The number of real estate properties held for development. No definition available.
|
| X | ||||||||||
- Definition Number of persons employed by the Entity No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
- Definition The number of real estate properties owned as of the balance sheet date. No definition available.
|
| X | ||||||||||
- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplement Disclosures Related to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Accounting Policies [Abstract] | ||
| Total interest costs incurred | $ 13,702 | $ 13,489 |
| Interest capitalized | 371 | 543 |
| Interest expense | 13,331 | 12,946 |
| Cash paid for interest, net of amounts capitalized | 10,708 | 11,906 |
| Cash paid for income taxes | 46 | 75 |
| Accounts payable and accrued liabilities for construction in progress | 577 | 171 |
| Accrued leasing commissions | $ 193 | $ 251 |
| X | ||||||||||
- Definition Change in accrued liabilities for construction in progress. No definition available.
|
| X | ||||||||||
- Definition Change in accrued leasing commissions No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. No definition available.
|
| X | ||||||||||
- Definition Total interest costs incurred during the period and either capitalized or charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES Acquired Lease Intangibles and Leasing Costs Included in Other Assets and Other Liabilities and Deferred Credits (Details) - USD ($) $ in Thousands |
Mar. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Acquired above market leases, net | $ 1,851 | $ 2,088 |
| Other intangible assets, accumulated amortization | (1,140) | (1,128) |
| Below market leases | 66,521 | 66,521 |
| Below market leases, accumulated amortization | (34,162) | (33,073) |
| Acquired lease intangible liabilities, net | 32,359 | 33,448 |
| Leases, Acquired-in-Place | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Acquired above market leases, net | 48,699 | 48,741 |
| Other intangible assets, accumulated amortization | (39,736) | (38,906) |
| Above Market Leases | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Acquired above market leases, net | 21,643 | 21,667 |
| Other intangible assets, accumulated amortization | (19,792) | (19,579) |
| Lease Agreements | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Acquired lease intangible assets, net | $ 10,814 | $ 11,923 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition Amount before amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition This element represents the identifiable intangible asset established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - Fair Value, Inputs, Level 2 |
3 Months Ended |
|---|---|
Mar. 31, 2017 | |
| Minimum | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Fair value assumptions, interest rate | 3.90% |
| Maximum | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Fair value assumptions, interest rate | 4.60% |
| X | ||||||||||
- Definition Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Liabilities Fair Value Measurement on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands |
Mar. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | $ 1,065 | $ 1,006 |
| Interest rate swap asset | 4,585 | 16,428 |
| Interest rate swap liability | 649 | 1,067 |
| Fair Value, Inputs, Level 1 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 0 | 0 |
| Interest rate swap asset | 0 | 0 |
| Interest rate swap liability | 0 | 0 |
| Fair Value, Inputs, Level 2 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 1,065 | 1,006 |
| Interest rate swap asset | 4,585 | 16,428 |
| Interest rate swap liability | 649 | 1,067 |
| Fair Value, Inputs, Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 0 | 0 |
| Interest rate swap asset | 0 | 0 |
| Interest rate swap liability | $ 0 | $ 0 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands |
Mar. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Secured notes payable, net | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | $ 315,743 | $ 445,180 |
| Unsecured term loans, net | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 247,985 | 247,883 |
| Unsecured term loans, net | Fair Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 250,000 | 250,000 |
| Unsecured senior guaranteed notes, net | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 596,767 | 348,467 |
| Unsecured line of credit | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 0 | 20,000 |
| Unsecured line of credit | Fair Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 0 | 20,000 |
| Fair Value, Inputs, Level 2 | Secured notes payable, net | Fair Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 324,165 | 457,621 |
| Fair Value, Inputs, Level 2 | Unsecured senior guaranteed notes, net | Fair Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | $ 599,021 | $ 351,357 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
DERIVATIVE AND HEDGING ACTIVITIES (Details) - USD ($) |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 01, 2017 |
Jan. 18, 2017 |
Apr. 07, 2016 |
Mar. 29, 2016 |
Mar. 31, 2017 |
|
| American Assets Trust, L.P. | Senior Guaranteed Notes, Series D | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Stated Maturity Date | Mar. 01, 2027 | |||||
| Term of debt instrument | 10 years | |||||
| American Assets Trust, L.P. | Senior Guaranteed Notes, Series D | Unsecured term loans, net | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Stated Maturity Date | Mar. 01, 2027 | |||||
| Face amount of debt | $ 250,000,000 | |||||
| American Assets Trust, L.P. | Term Loan B | Unsecured term loans, net | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Stated Maturity Date | Mar. 01, 2023 | |||||
| American Assets Trust, L.P. | Term Loan C | Unsecured term loans, net | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Stated Maturity Date | Mar. 01, 2023 | |||||
| American Assets Trust, L.P. | Interest Rate Swap | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Derivative contract term | 10 years | 10 years | ||||
| American Assets Trust, L.P. | Interest Rate Swap | Term Loan B | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Derivative fixed interest rate (in percent) | 3.15% | 3.15% | ||||
| American Assets Trust, L.P. | Interest Rate Swap | Term Loan C | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Derivative fixed interest rate (in percent) | 3.14% | 3.14% | ||||
| Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Notional Amount | $ 100,000,000 | $ 150,000,000 | ||||
| Derivative fixed interest rate (in percent) | 1.748% | 1.88% | ||||
| Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap, 1/9/2019 | Bank of America, N.A. | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Maturity Date | Jan. 09, 2019 | |||||
| Effective Date | Jan. 09, 2014 | |||||
| Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap, 3/1/2023 | U.S. Bank N.A. | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Maturity Date | Mar. 01, 2023 | |||||
| Effective Date | Mar. 01, 2016 | |||||
| Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap, 3/1/2023 | Wells Fargo Bank, N.A. | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Maturity Date | Mar. 01, 2023 | |||||
| Effective Date | May 02, 2016 | |||||
| Designated as Hedging Instrument | Cash Flow Hedging | American Assets Trust, L.P. | Interest Rate Swap | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Maturity Date | Mar. 31, 2027 | Mar. 31, 2027 | ||||
| Effective Date | Mar. 31, 2017 | Mar. 31, 2017 | ||||
| Gain recognized in other comprehensive income (loss) | $ 10,400,000 | |||||
| Designated as Hedging Instrument | Cash Flow Hedging | American Assets Trust, L.P. | Interest Rate Swap, 1/9/2019 | Bank of America, N.A. | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Notional Amount | $ 100,000,000 | $ 100,000,000 | ||||
| Interest rate swap liability | (649,000) | (649,000) | ||||
| Designated as Hedging Instrument | Cash Flow Hedging | American Assets Trust, L.P. | Interest Rate Swap, 3/1/2023 | U.S. Bank N.A. | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Notional Amount | 100,000,000 | 100,000,000 | ||||
| Interest rate swap asset | 3,029,000 | 3,029,000 | ||||
| Designated as Hedging Instrument | Cash Flow Hedging | American Assets Trust, L.P. | Interest Rate Swap, 3/1/2023 | Wells Fargo Bank, N.A. | ||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
| Notional Amount | 50,000,000 | 50,000,000 | ||||
| Interest rate swap asset | $ 1,556,000 | $ 1,556,000 |
| X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
- Definition Date the entity entered into the derivative contract, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The effective portion of gains on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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OTHER ASSETS (Details) - USD ($) $ in Thousands |
Mar. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
| Leasing commissions, net of accumulated amortization of $26,141 and $25,194, respectively | $ 18,182 | $ 18,131 |
| Interest rate swap asset | 4,585 | 16,428 |
| Acquired above market leases, net | 1,851 | 2,088 |
| Acquired in-place leases, net | 8,963 | 9,835 |
| Lease incentives, net of accumulated amortization of $55 and $41, respectively | 300 | 313 |
| Other intangible assets, net of accumulated amortization of $1,140 and $1,128, respectively | 187 | 206 |
| Purchase deposit | 5,000 | 0 |
| Prepaid expenses and other | 6,891 | 5,853 |
| Total other assets | 45,959 | 52,854 |
| Leasing commissions, accumulative amortization | 26,141 | 25,194 |
| Lease incentives, accumulated amortization | 55 | 41 |
| Other intangible assets, accumulated amortization | $ 1,140 | $ 1,128 |
| X | ||||||||||
- Definition Lease Incentive Accumulated Amortization No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition For an unclassified balance sheet, the accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This element is net of accumulated amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired. No definition available.
|
| X | ||||||||||
- Definition This element represents the identifiable intangible asset established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This item represents the deferred charge for an incentive or inducement granted by a lessor to a lessee, in order to motivate the lessee to enter the lease agreement, which incentive or inducement is to be recognized as a reduction of rental revenue over the lease term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before accumulated amortization of finite-lived intangible assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
OTHER LIABILITIES AND DEFERRED CREDITS (Details) - USD ($) $ in Thousands |
Mar. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|
| Other Liabilities Disclosure [Abstract] | ||
| Acquired below market leases, net | $ 32,359 | $ 33,448 |
| Prepaid rent and deferred revenue | 8,587 | 7,720 |
| Interest rate swap liability | 649 | 1,067 |
| Deferred rent expense and lease intangible | 1,797 | 1,756 |
| Deferred compensation | 1,065 | 1,006 |
| Deferred tax liability | 265 | 265 |
| Straight-line rent liability | 3,014 | 3,028 |
| Other liabilities | 57 | 47 |
| Total other liabilities and deferred credits, net | $ 47,793 | $ 48,337 |
| X | ||||||||||
- Definition Deferred rent expense and lease intangible. No definition available.
|
| X | ||||||||||
- Definition Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements. Represents currently earned compensation under compensation arrangements that is not actually paid until a later date. No definition available.
|
| X | ||||||||||
- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
|
| X | ||||||||||
- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents a liability associated with the acquisition of an off-market lease when the terms of the lease are unfavorable to the market terms for the lease at the date of acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of liabilities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
DEBT - Summary of Total Secured Notes Payable Outstanding (Details) - American Assets Trust, L.P. - Secured notes payable, net - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Sep. 30, 2016 |
Dec. 31, 2016 |
||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | $ 316,235 | $ 447,028 | ||||||||||
| Unamortized fair value adjustment | (31) | (1,347) | ||||||||||
| Debt issuance costs, net | (461) | (501) | ||||||||||
| Total Debt Outstanding | 315,743 | 445,180 | ||||||||||
| Period of amortization schedule (in years) | 30 years | |||||||||||
| Debt issuance costs, accumulated amortization | 1,069 | 1,029 | ||||||||||
| Waikiki Beach Walk - Retail | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [1],[2] | $ 0 | 130,310 | |||||||||
| Stated Interest Rate | [1],[2] | 5.39% | ||||||||||
| Stated Maturity Date | [1],[2] | Jul. 01, 2017 | ||||||||||
| Solana Beach Corporate Centre Three To Four | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [3],[4] | $ 35,306 | 35,440 | |||||||||
| Stated Interest Rate | [3],[4] | 6.39% | ||||||||||
| Stated Maturity Date | [3],[4] | Aug. 01, 2017 | ||||||||||
| Loma Palisades | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [1] | $ 73,744 | 73,744 | |||||||||
| Stated Interest Rate | [1] | 6.09% | ||||||||||
| Stated Maturity Date | [1] | Jul. 01, 2018 | ||||||||||
| One Beach Street | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [1] | $ 21,900 | 21,900 | |||||||||
| Stated Interest Rate | [1] | 3.94% | ||||||||||
| Stated Maturity Date | [1] | Apr. 01, 2019 | ||||||||||
| Torrey Reserve North Court | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [4] | $ 20,308 | 20,399 | |||||||||
| Stated Interest Rate | [4] | 7.22% | ||||||||||
| Stated Maturity Date | [4] | Jun. 01, 2019 | ||||||||||
| Torrey Reserve | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [4] | $ 6,853 | 6,884 | |||||||||
| Stated Interest Rate | [4] | 6.36% | ||||||||||
| Stated Maturity Date | [4] | Jun. 01, 2020 | ||||||||||
| Solana Beach Corporate Centre One To Two | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [4] | $ 10,875 | 10,927 | |||||||||
| Stated Interest Rate | [4] | 5.91% | ||||||||||
| Stated Maturity Date | [4] | Jun. 01, 2020 | ||||||||||
| Solana Beach Towne Centre | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [4] | $ 36,249 | 36,424 | |||||||||
| Stated Interest Rate | [4] | 5.91% | ||||||||||
| Stated Maturity Date | [4] | Jun. 01, 2020 | ||||||||||
| City Center Bellevue | ||||||||||||
| Debt Instrument [Line Items] | ||||||||||||
| Long-term Debt, Principal Balance | [1] | $ 111,000 | $ 111,000 | |||||||||
| Stated Interest Rate | [1] | 3.98% | ||||||||||
| Stated Maturity Date | [1] | Nov. 01, 2022 | ||||||||||
| ||||||||||||
| X | ||||||||||
- Definition Period of amortization schedule. No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated amortization of debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEBT - Summary of Total Unsecured Notes Payable Outstanding (Details) - American Assets Trust, L.P. $ in Thousands |
3 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 01, 2017 |
Jan. 18, 2017
USD ($)
|
Apr. 07, 2016 |
Mar. 29, 2016 |
Sep. 19, 2014
USD ($)
|
Aug. 19, 2014 |
Mar. 31, 2017
USD ($)
Extension_Option
|
Dec. 31, 2016
USD ($)
|
|||||||||
| Interest Rate Swap | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Derivative contract term | 10 years | 10 years | ||||||||||||||
| Forward Contracts | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Derivative contract term | 7 years | |||||||||||||||
| Gain on derivative settlement | $ 10,400 | $ 1,600 | ||||||||||||||
| Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Long-term Debt, Principal Balance | $ 850,000 | $ 600,000 | ||||||||||||||
| Debt issuance costs, net | (5,248) | (3,650) | ||||||||||||||
| Total Debt Outstanding | 844,752 | 596,350 | ||||||||||||||
| Debt issuance costs, accumulated amortization | $ 4,675 | 4,317 | ||||||||||||||
| Term Loan A | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Debt extension options | Extension_Option | 1 | |||||||||||||||
| Term Loan A | Interest Rate Swap | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Derivative fixed interest rate (in percent) | 3.08% | |||||||||||||||
| Term Loan A | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Maturity Date | [1] | Jan. 09, 2019 | ||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | ||||||||||||||
| Senior Guaranteed Notes, Series A | Forward Contracts | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Effective rate of debt instrument (in percent) | 3.88% | |||||||||||||||
| Senior Guaranteed Notes, Series A | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Interest Rate | [2] | 4.04% | ||||||||||||||
| Stated Maturity Date | Oct. 31, 2021 | |||||||||||||||
| Long-term Debt, Principal Balance | $ 150,000 | 150,000 | ||||||||||||||
| Senior Guaranteed Notes, Series B | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Interest Rate | 4.45% | |||||||||||||||
| Stated Maturity Date | Feb. 02, 2025 | |||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | ||||||||||||||
| Senior Guaranteed Notes, Series C | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Interest Rate | 4.50% | |||||||||||||||
| Stated Maturity Date | Apr. 01, 2025 | |||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | ||||||||||||||
| Term Loan B | Interest Rate Swap | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Derivative fixed interest rate (in percent) | 3.15% | |||||||||||||||
| Term Loan B | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | |||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | ||||||||||||||
| Term Loan C | Interest Rate Swap | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Derivative fixed interest rate (in percent) | 3.14% | |||||||||||||||
| Term Loan C | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | |||||||||||||||
| Long-term Debt, Principal Balance | $ 50,000 | 50,000 | ||||||||||||||
| Senior Guaranteed Notes, Series D | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Maturity Date | Mar. 01, 2027 | |||||||||||||||
| Senior Guaranteed Notes, Series D | Forward Contracts | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Effective rate of debt instrument (in percent) | 3.87% | |||||||||||||||
| Senior Guaranteed Notes, Series D | Unsecured term loans, net | ||||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||||
| Stated Interest Rate | 4.29% | 4.29% | [3] | |||||||||||||
| Stated Maturity Date | Mar. 01, 2027 | |||||||||||||||
| Long-term Debt, Principal Balance | $ 250,000 | $ 0 | ||||||||||||||
| ||||||||||||||||
| X | ||||||||||
- Definition Debt Instrument, Extension Options No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated amortization of debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
- Definition Amount of increase in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEBT (Details) |
3 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2017
USD ($)
Extension_Option
|
Mar. 01, 2017
USD ($)
|
Mar. 01, 2016 |
Jan. 09, 2014
USD ($)
Extension_Option
|
Mar. 31, 2017
USD ($)
Extension_Option
|
Dec. 31, 2016
USD ($)
|
Sep. 30, 2016
USD ($)
|
|||||||
| Debt Instrument [Line Items] | |||||||||||||
| Unsecured line of credit | $ 0 | $ 0 | $ 20,000,000 | ||||||||||
| Unsecured term loans, net | Amended and Restated Credit Facility | London Interbank Offered Rate (LIBOR) | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Description of variable rate basis | LIBOR | ||||||||||||
| Unsecured term loans, net | Term Loan A | Base Rate | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on federal funds rate | 0.50% | ||||||||||||
| Basis spread on Eurodollar rate | 1.00% | ||||||||||||
| Unsecured line of credit | Amended and Restated Credit Facility | Base Rate | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on federal funds rate | 0.50% | ||||||||||||
| Basis spread on Eurodollar rate | 1.00% | ||||||||||||
| American Assets Trust, L.P. | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Unsecured line of credit | $ 0 | $ 0 | $ 20,000,000 | ||||||||||
| American Assets Trust, L.P. | Term Loan C | Interest Rate Swap | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Derivative fixed interest rate (in percent) | 3.14% | 3.14% | |||||||||||
| American Assets Trust, L.P. | Senior Guaranteed Notes, Series D | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Term of debt instrument | 10 years | ||||||||||||
| Stated Maturity Date | Mar. 01, 2027 | ||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 350,000,000 | ||||||||||||
| Additional borrowing capacity | $ 250,000,000 | ||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Minimum | Base Rate | Revolving Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 0.35% | ||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Maximum | Base Rate | Revolving Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 0.95% | ||||||||||||
| American Assets Trust, L.P. | Term Loan A | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Debt extension options | Extension_Option | 1 | 1 | |||||||||||
| American Assets Trust, L.P. | Term Loan A | Interest Rate Swap | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Derivative fixed interest rate (in percent) | 3.08% | 3.08% | |||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Term Loan C | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Senior Guaranteed Notes, Series D | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Face amount of debt | $ 250,000,000 | ||||||||||||
| Stated Interest Rate | 4.29% | [1] | 4.29% | 4.29% | [1] | ||||||||
| Stated Maturity Date | Mar. 01, 2027 | ||||||||||||
| Debt Instrument, Partial Repayment, Minimum Percentage of Principal | 5.00% | ||||||||||||
| Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount | 100.00% | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 100,000,000 | ||||||||||||
| Debt extension options | Extension_Option | 3 | ||||||||||||
| Extension term | 12 months | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 1.30% | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Minimum | Base Rate | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 0.30% | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 1.90% | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Maximum | Base Rate | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 0.90% | ||||||||||||
| American Assets Trust, L.P. | Unsecured term loans, net | Term Loan A | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Maturity Date | [2] | Jan. 09, 2019 | |||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Unsecured line of credit | $ 0 | ||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Revolving Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 250,000,000 | ||||||||||||
| Debt extension options | Extension_Option | 2 | ||||||||||||
| Extension term | 6 months | ||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Description of variable rate basis | LIBOR | ||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Base Rate | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Description of variable rate basis | base rate | ||||||||||||
| Prime rate | prime rate | ||||||||||||
| Federal funds rate | federal funds rate | ||||||||||||
| Eurodollar rate | Eurodollar | ||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 1.35% | ||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Basis spread on variable rate | 1.95% | ||||||||||||
| |||||||||||||
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- Definition Debt Instrument, Extension Options No definition available.
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- Definition Debt Instrument, Extension Term No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Partial Repayment, Minimum Percentage of Principal No definition available.
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- Definition Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount No definition available.
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- Definition Debt Instrument, Spread on Variable Rate Basis, Three No definition available.
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- Definition Debt Instrument, Spread on Variable Rate Basis, Two No definition available.
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- Definition Debt Instrument, Variable Rate Basis, One No definition available.
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- Definition Debt Instrument, Variable Rate Basis, Three No definition available.
|
| X | ||||||||||
- Definition Debt Instrument, Variable Rate Basis, Two No definition available.
|
| X | ||||||||||
- Definition Line of Credit Facility, Allowable Additional Borrowing Capacity No definition available.
|
| X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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PARTNERS CAPITAL OF AMERICAN ASSETS TRUST, L.P. (Details) - shares |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Operating Partnership Units | ||
| Capital Unit [Line Items] | ||
| Antidilutive securities excluded from computation of EPS (in shares) | 232,099 | 173,594 |
| American Assets Trust, L.P. | ||
| Capital Unit [Line Items] | ||
| Noncontrolling common units (in shares) | 17,888,822 | |
| Percentage of ownership interests classified as noncontrolling | 27.90% | |
| American Assets Trust, L.P. | Operating Partnership Units | ||
| Capital Unit [Line Items] | ||
| Antidilutive securities excluded from computation of EPS (in shares) | 232,099 | 173,594 |
| American Assets Trust, L.P. | Common Shares | ||
| Capital Unit [Line Items] | ||
| Conversion of operating partnership units (in shares) | 0 | |
| Limited Partner | American Assets Trust, L.P. | ||
| Capital Unit [Line Items] | ||
| Common unit conversion ratio | 1 | |
| X | ||||||||||
- Definition Partners Capital Redemption and Conversion Ratio No definition available.
|
| X | ||||||||||
- Definition Shares held by minority interest in Operating partnerships. No definition available.
|
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EQUITY OF AMERICAN ASSETS TRUST, INC. (Details) |
3 Months Ended | ||
|---|---|---|---|
|
May 27, 2015
USD ($)
Agent
|
Mar. 31, 2017
USD ($)
shares
|
Mar. 31, 2016
USD ($)
shares
|
|
| Equity [Line Items] | |||
| Noncash compensation expense | $ 600,000 | $ 600,000 | |
| Unrecognized compensation expense | $ 3,100,000 | ||
| Weighted average unvested shares outstanding (in shares) | shares | 232,099 | 173,594 | |
| At The Market Equity Program | |||
| Equity [Line Items] | |||
| Number of sales agents | Agent | 5 | ||
| Aggregate offering price of common share | $ 250,000,000.0 | ||
| Remaining capacity to issue | $ 176,200,000 | ||
| X | ||||||||||
- Definition Maximum aggregate offering price of common shares. No definition available.
|
| X | ||||||||||
- Definition Equity [Line Items] No definition available.
|
| X | ||||||||||
- Definition Number of Sales Agents No definition available.
|
| X | ||||||||||
- Definition Remaining $ Capacity Of Shares To Issue No definition available.
|
| X | ||||||||||
- Definition Weighted average unvested participating securities outstanding. No definition available.
|
| X | ||||||||||
- Definition Unrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation. No definition available.
|
| X | ||||||||||
- Definition The noncash expense that represents the cost of restricted stock or unit distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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EQUITY OF AMERICAN ASSETS TRUST, INC. - ATM Equity Program (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Equity [Line Items] | ||
| Proceeds from issuance of common stock | $ 30,075 | $ 0 |
| At The Market Equity Program | ||
| Equity [Line Items] | ||
| Common shares issued (in shares) | 700,000 | |
| Weighted average price per share | $ 43.46 | |
| Proceeds, gross | $ 30,425 | |
| At The Market Equity Program | Sales agent compensation | ||
| Equity [Line Items] | ||
| Sales agent compensation and offering costs | (304) | |
| At The Market Equity Program | Offering costs | ||
| Equity [Line Items] | ||
| Sales agent compensation and offering costs | $ (46) | |
| X | ||||||||||
- Definition Common Stock Issued During Period, Weighted Price per Share No definition available.
|
| X | ||||||||||
- Definition Equity [Line Items] No definition available.
|
| X | ||||||||||
- Definition Proceeds from issuance of common stock before sales agent commission and offering costs No definition available.
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| X | ||||||||||
- Definition The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EQUITY OF AMERICAN ASSETS TRUST, INC. - Dividends Declare and Paid on Shares on Common Stock and Noncontrolling Common Units (Details) |
3 Months Ended |
|---|---|
|
Mar. 31, 2017
$ / shares
| |
| Equity [Abstract] | |
| Dividends period | First Quarter 2017 |
| Amount per Share/Unit (in USD per unit) | $ 0.26 |
| Date dividend to be paid | Mar. 30, 2017 |
| X | ||||||||||
- Definition Dividends quarterly period. No definition available.
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| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Date the declared dividend will be paid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
EQUITY OF AMERICAN ASSETS TRUST, INC. - Summary of Activity of Restricted Stock Awards (Details) - Restricted Stock Units (RSUs) |
3 Months Ended |
|---|---|
|
Mar. 31, 2017
$ / shares
shares
| |
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
| Nonvested, Beginning, Shares | shares | 232,765 |
| Forfeited, Shares | shares | (768) |
| Nonvested, End of year, shares | shares | 231,997 |
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
| Nonvested, Beginning, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | $ 31.24 |
| Forfeited, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 30.62 |
| Nonvested, End of Year, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | $ 31.24 |
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Details
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EQUITY OF AMERICAN ASSETS TRUST, INC. - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Equity [Abstract] | ||
| Net income from operations | $ 10,308 | $ 10,721 |
| Less: Net income attributable to restricted shares | (60) | (43) |
| Less: Income from operations attributable to unitholders in the Operating Partnership | (2,861) | (3,027) |
| Net income attributable to common stockholders—basic | 7,387 | 7,651 |
| Income from operations attributable to American Assets Trust, Inc. common stockholders—basic | 7,387 | 7,651 |
| Plus: Income from operations attributable to unitholders in the Operating Partnership | 2,861 | 3,027 |
| Net income attributable to common stockholders-diluted | $ 10,248 | $ 10,678 |
| Weighted average common shares outstanding-basic (in shares) | 46,173,788 | 45,233,873 |
| Effect of dilutive securities-conversion of Operating Partnership units (in shares) | 17,888,822 | 17,899,516 |
| Weighted average common shares outstanding - diluted (in shares) | 64,062,610 | 63,133,389 |
| Earnings per common share, basic (in USD per share) | $ 0.16 | $ 0.17 |
| Earnings per common share, diluted (in USD per share) | $ 0.16 | $ 0.17 |
| X | ||||||||||
- Definition Incremental common shares attributable to conversion of Operating partnership units. No definition available.
|
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- Definition Minority interest in continuing operations income (loss) Operating partnerships. No definition available.
|
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
INCOME TAXES (Details) - USD ($) $ in Thousands |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
|
| Income Tax Disclosure [Abstract] | |||
| Deferred tax liability | $ 265 | $ 265 | |
| Income tax benefit (expense) | $ 163 | $ (87) | |
| X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2017
USD ($)
Extension_Option
Property
mo
|
Mar. 31, 2016 |
|
| Commitment And Contingencies [Line Items] | ||
| Termination payment | $ | $ 7.4 | |
| Percentage, partner's common units | 50.00% | |
| Number of consolidated properties located in Southern California | Property | 11 | |
| Maximum percentage of total revenue provided by any single tenant | 10.00% | 10.00% |
| Total Revenues | Retail | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by retail tenants | 33.60% | |
| Total Revenues | Office | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by retail tenants | 35.20% | |
| The Land Mark at One Market | ||
| Commitment And Contingencies [Line Items] | ||
| Number of lease extension options | Extension_Option | 2 | |
| Years, lease extension options length (in years) | 5 years | |
| Waikiki Beach Walk - Retail | ||
| Commitment And Contingencies [Line Items] | ||
| Property management fee, percent (in percent) | 3.00% | |
| Outrigger Hotels | ||
| Commitment And Contingencies [Line Items] | ||
| Property management fee, percent (in percent) | 6.00% | |
| Number of calendar months termination fee is based | 2 months | |
| Maximum percentage of hotel's fiscal year gross revenues paid for aggregate yearly management fee | 3.50% | |
| Previous months of management fees | 12 months | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in first 11 years of term | 8 | |
| Years in hotel management agreement term | 11 years | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in twelfth year of term | 4 | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in thirteenth year of term | 3 | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in fourteenth year of term | 2 | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in fifteenth year of term | 1 | |
| Outrigger Hotels | Maximum | ||
| Commitment And Contingencies [Line Items] | ||
| Property management fee, percent (in percent) | 3.00% | |
| Outrigger Hotels | Future Year Period One | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 15 years | |
| Outrigger Hotels | Future Year Period Two | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 14 years | |
| Outrigger Hotels | Future Year Period Three | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 13 years | |
| Outrigger Hotels | Future Year Period Four | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 12 years | |
| Wbw Hotel Lessee Llc | ||
| Commitment And Contingencies [Line Items] | ||
| Years of contract | 20 years | |
| Percentage of hotel occupancy gross revenue paid for program fee | 4.00% | |
| Wbw Hotel Lessee Llc | Future Time Period Prior to 12-31-2021 | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of hotel occupancy gross revenue paid for franchise royalty fee | 4.00% | |
| Wbw Hotel Lessee Llc | Future Time Period After 12-31-2021 | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of hotel occupancy gross revenue paid for franchise royalty fee | 5.00% | |
| Del Monte Center | Maximum | ||
| Commitment And Contingencies [Line Items] | ||
| Years, environmental remediation length | 7 years | |
| Del Monte Center | Minimum | ||
| Commitment And Contingencies [Line Items] | ||
| Years, environmental remediation length | 5 years | |
| X | ||||||||||
- Definition Calendar months. No definition available.
|
| X | ||||||||||
- Definition Commitment And Contingencies [Line Items] No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in first eleven years of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in fourteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in thirteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in twelfth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty factor of previous twelve months of Management fees in fifteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Maximum percentage of hotels fiscal year gross revenues paid for aggregate yearly Management fee. No definition available.
|
| X | ||||||||||
- Definition Maximum percentage of revenue provided by any single tenant. No definition available.
|
| X | ||||||||||
- Definition Number of consolidated properties. No definition available.
|
| X | ||||||||||
- Definition Number of lease extension options. No definition available.
|
| X | ||||||||||
- Definition Percentage of hotel occupancy gross revenue paid for franchise royalty fee. No definition available.
|
| X | ||||||||||
- Definition Percentage of hotel occupancy gross revenue paid for program fee. No definition available.
|
| X | ||||||||||
- Definition The maximum percentage of partners common units that should be exchanged or disposed beyond which indemnification rights for certain limited partners will terminate. No definition available.
|
| X | ||||||||||
- Definition The previous months management fees used in the calculation of the management cancellation fee. No definition available.
|
| X | ||||||||||
- Definition Years environmental remediation length. No definition available.
|
| X | ||||||||||
- Definition Years in hotel management agreement term. No definition available.
|
| X | ||||||||||
- Definition Years lease extension option length. No definition available.
|
| X | ||||||||||
- Definition Years of contract. No definition available.
|
| X | ||||||||||
- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of the loss on termination of a contract for default. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The percentage charged for managing real estate properties. No definition available.
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| X | ||||||||||
- Details
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- Details
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- Details
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COMMITMENTS AND CONTINGENCIES - Current Minimum Annual Payments under Leases (Details) - USD ($) |
Jun. 30, 2021 |
Mar. 31, 2017 |
|||||
|---|---|---|---|---|---|---|---|
| Operating Leased Assets [Line Items] | |||||||
| 2017 (nine months ending December 31, 2017) | $ 2,411,000 | ||||||
| 2018 | [1] | 3,274,000 | |||||
| 2019 | 3,347,000 | ||||||
| 2020 | 3,422,000 | ||||||
| 2021 | 3,460,000 | ||||||
| Thereafter | [2] | 24,823,000 | |||||
| Total | 40,737,000 | ||||||
| Waikiki Beach Walk | |||||||
| Operating Leased Assets [Line Items] | |||||||
| Stated future monthly lease rate | $ 70,578 | ||||||
| Scenario, Forecast | The Land Mark at One Market | |||||||
| Operating Leased Assets [Line Items] | |||||||
| Stated future monthly lease rate | $ 217,744 | ||||||
| |||||||
| X | ||||||||||
- Definition Stated future monthly lease rate. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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OPERATING LEASES (Details) |
3 Months Ended |
|---|---|
Mar. 31, 2017 | |
| Leases [Abstract] | |
| Years, minimum term range of office and retail leases | 3 years |
| Years, maximum term range of office and retail leases | 10 years |
| Months, minimum term of apartment leases | 7 months |
| Months, maximum term of apartment leases | 15 months |
| Operating leases rental period terms | 12 months |
| X | ||||||||||
- Definition Months maximum term length of apartment leases. No definition available.
|
| X | ||||||||||
- Definition Months minimum term of apartment leases. No definition available.
|
| X | ||||||||||
- Definition Operating Leases Rental Period Terms No definition available.
|
| X | ||||||||||
- Definition Years maximum term range of office and retail leases. No definition available.
|
| X | ||||||||||
- Definition Years minimum term range of office and retail leases. No definition available.
|
| X | ||||||||||
- References No definition available.
|
OPERATING LEASES - Minimum Future Rentals from Noncancelable Operating Leases (Details) $ in Thousands |
Mar. 31, 2017
USD ($)
|
|---|---|
| Leases [Abstract] | |
| 2017 (nine months ending December 31, 2017) | $ 128,417 |
| 2018 | 148,911 |
| 2019 | 116,181 |
| 2020 | 91,796 |
| 2021 | 70,333 |
| Thereafter | 184,190 |
| Total | $ 739,828 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMPONENTS OF RENTAL INCOME AND EXPENSE - Component of Rental Income (Details) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Rental Income [Line Items] | ||
| Cost reimbursement | $ 7,888 | $ 7,642 |
| Percentage rent | 455 | 440 |
| Hotel revenue | 9,865 | 9,418 |
| Other | 380 | 385 |
| Total rental income | 70,040 | 67,245 |
| Total Retail | ||
| Rental Income [Line Items] | ||
| Minimum rents | 18,534 | 18,398 |
| Total Office | ||
| Rental Income [Line Items] | ||
| Minimum rents | 23,122 | 22,468 |
| Total Multifamily | ||
| Rental Income [Line Items] | ||
| Minimum rents | 7,235 | 5,839 |
| Total Mixed-Use | ||
| Rental Income [Line Items] | ||
| Minimum rents | $ 2,561 | $ 2,655 |
| X | ||||||||||
- Definition Other real estate rental revenue. No definition available.
|
| X | ||||||||||
- Definition Rental Income [Line Items] No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition This element represents the rental revenue earned during the period from lessee-operators based on revenues generated in their operations, generally in excess of a base amount. Such rental revenue is generally stipulated in the lease agreement, usually will provide for a fixed percentage of revenue to be paid as additional (or possibly only) rent due the lessor, and may be based on gross revenues, net revenues, or multiple variations thereof. Percentage rent is often required under leases with retail outlets located on premises owned by hoteliers, cruise lines, others in the hospitality industry, and shopping mall operators, among others. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount, net of promotional allowances, of revenue from managing and operating hotels, including, but not limited to, revenue from occupancy, casino, food and beverage, and retail. Excludes operating lease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMPONENTS OF RENTAL INCOME AND EXPENSE (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Operating Leases, Income Statement, Lease Revenue [Abstract] | ||
| Recognition of straight-line rents | $ 0.2 | $ 0.1 |
| Recognition of amortization of above and below market leases | $ 0.9 | $ 0.8 |
| X | ||||||||||
- Definition Amount of non-cash amortization of intangible asset (liability) for above and below market leases. No definition available.
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- References No definition available.
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| X | ||||||||||
- Definition Difference between actual rental income due and rental income recognized on a straight-line basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMPONENTS OF RENTAL INCOME AND EXPENSE - Components of Rental Expenses (Details) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Operating Leases, Income Statement, Lease Revenue [Abstract] | ||
| Rental operating | $ 8,073 | $ 7,382 |
| Hotel operating | 6,551 | 5,776 |
| Repairs and maintenance | 2,531 | 2,566 |
| Marketing | 436 | 485 |
| Rent | 757 | 750 |
| Hawaii excise tax | 1,025 | 1,019 |
| Management fees | 486 | 475 |
| Total rental expenses | $ 19,859 | $ 18,453 |
| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate direct costs incurred in operating leased, owned and other hotels. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of excise and sales taxes included in sales and revenues, which are then deducted as a cost of sales. Includes excise taxes, which are applied to specific types of transactions or items (such as gasoline or alcohol); and sales, use and value added taxes, which are applied to a broad class of revenue-producing transactions involving a wide range of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
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- Definition Amount of expenses related to the managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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OTHER INCOME, NET Components of Other Income (Details) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Other Income and Expenses [Abstract] | ||
| Interest and investment income | $ 147 | $ 15 |
| Income tax benefit (expense) | 163 | (87) |
| Other non-operating income | 0 | 96 |
| Total other income (expense), net | $ 310 | $ 24 |
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Jul. 01, 2016 |
|
| Related Party Transaction [Line Items] | |||
| Total rental income | $ 70,040 | $ 67,245 | |
| Investment in WBW CHP LLC (in percent) | 47.70% | ||
| WBW CHP LLC | |||
| Related Party Transaction [Line Items] | |||
| Amount recovered for reimbursements of operating expense for related party | $ 300 | 200 | |
| ICW Inc | Board of Directors Chairman | |||
| Related Party Transaction [Line Items] | |||
| Total rental income | $ 600 | ||
| Prepaid Insurance | $ 200 | ||
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- Definition Amount recovered for reimbursements of operating expense for related party. No definition available.
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- Definition Percentage of investment in related party. No definition available.
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- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of asset related to consideration paid in advance for insurance that provides economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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SEGMENT REPORTING (Details) |
3 Months Ended |
|---|---|
|
Mar. 31, 2017
Segment
Room
| |
| Segment Reporting [Abstract] | |
| Number of operating segments | Segment | 4 |
| Room in mixed-use segment all-suite hotel | Room | 369 |
| X | ||||||||||
- Definition Number of rooms in mixed use segment all suite hotel. No definition available.
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| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
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| X | ||||||||||
- References No definition available.
|
SEGMENT REPORTING - Operating Activity Within Reportable Segments (Details) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Segment Reporting Information [Line Items] | ||
| OPERATING INCOME | $ 23,329 | $ 23,643 |
| Total Segments' profit | 46,397 | 45,645 |
| Total Retail | ||
| Segment Reporting Information [Line Items] | ||
| Property revenue | 24,791 | 24,371 |
| Property expense | (6,691) | (6,080) |
| OPERATING INCOME | 18,100 | 18,291 |
| Total Office | ||
| Segment Reporting Information [Line Items] | ||
| Property revenue | 25,990 | 25,320 |
| Property expense | (7,801) | (7,702) |
| OPERATING INCOME | 18,189 | 17,618 |
| Total Multifamily | ||
| Segment Reporting Information [Line Items] | ||
| Property revenue | 7,891 | 6,294 |
| Property expense | (3,211) | (2,820) |
| OPERATING INCOME | 4,680 | 3,474 |
| Total Mixed-Use | ||
| Segment Reporting Information [Line Items] | ||
| Property revenue | 15,120 | 14,746 |
| Property expense | (9,692) | (8,484) |
| OPERATING INCOME | $ 5,428 | $ 6,262 |
| X | ||||||||||
- Definition Property expenses. No definition available.
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| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
- Definition The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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SEGMENT REPORTING - Reconciliation of Segment Profit to Net Income Attributable to Stockholders (Details) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
|
| Segment Reporting [Abstract] | ||
| Total Segments' profit | $ 46,397 | $ 45,645 |
| General and administrative | (5,082) | (4,549) |
| Depreciation and amortization | (17,986) | (17,453) |
| Interest expense | 13,331 | 12,946 |
| Other income, net | 310 | 24 |
| NET INCOME | 10,308 | 10,721 |
| Net income attributable to restricted shares | (60) | (43) |
| Net income attributable to unitholders in the Operating Partnership | 2,861 | 3,027 |
| NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS | $ 7,387 | $ 7,651 |
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
|
SEGMENT REPORTING - Net Real Estate and Secured Note Payable Balances (Details) - USD ($) $ in Thousands |
Mar. 31, 2017 |
Dec. 31, 2016 |
|||
|---|---|---|---|---|---|
| Segment Reporting Information [Line Items] | |||||
| Net Real Estate | $ 1,823,323 | $ 1,831,546 | |||
| Secured Notes Payable | [1] | 316,235 | 447,028 | ||
| American Assets Trust, L.P. | |||||
| Segment Reporting Information [Line Items] | |||||
| Net Real Estate | 1,823,323 | 1,831,546 | |||
| Secured notes payable, net | American Assets Trust, L.P. | |||||
| Segment Reporting Information [Line Items] | |||||
| Unamortized fair value adjustment and debt issuance costs | 500 | 1,800 | |||
| Total Retail | |||||
| Segment Reporting Information [Line Items] | |||||
| Net Real Estate | 625,896 | 629,261 | |||
| Secured Notes Payable | [1] | 36,249 | 36,424 | ||
| Total Office | |||||
| Segment Reporting Information [Line Items] | |||||
| Net Real Estate | 810,913 | 813,414 | |||
| Secured Notes Payable | [1] | 206,242 | 206,550 | ||
| Total Multifamily | |||||
| Segment Reporting Information [Line Items] | |||||
| Net Real Estate | 201,955 | 203,014 | |||
| Secured Notes Payable | [1] | 73,744 | 73,744 | ||
| Total Mixed-Use | |||||
| Segment Reporting Information [Line Items] | |||||
| Net Real Estate | 184,559 | 185,857 | |||
| Secured Notes Payable | [1] | $ 0 | $ 130,310 | ||
| |||||
| X | ||||||||||
- Definition Amount of unamortized debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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SEGMENT REPORTING - Capital Expenditures (Details) - USD ($) $ in Thousands |
3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
||||||
| Segment Reporting Information [Line Items] | |||||||
| Capital expenditures | [1] | $ 8,155 | $ 17,752 | ||||
| Retail | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Capital expenditures | [1] | 1,246 | 5,414 | ||||
| Office | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Capital expenditures | [1] | 6,360 | 10,929 | ||||
| Multifamily | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Capital expenditures | [1],[2] | 459 | 1,344 | ||||
| Mixed-Use | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Capital expenditures | [1] | $ 90 | $ 65 | ||||
| |||||||
| X | ||||||||||
- Definition Capital Expenditures and Leasing Commissions No definition available.
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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SUBSEQUENT EVENTS (Details) - Subsequent Event |
Apr. 28, 2017
USD ($)
unit
|
Apr. 25, 2017
USD ($)
|
|---|---|---|
| Pacific Ridge | ||
| Subsequent Event [Line Items] | ||
| Number of units in real estate property | unit | 533 | |
| Purchase price consideration | $ 232,000,000 | |
| American Assets Trust, L.P. | Cash Flow Hedging | Treasury Lock | Designated as Hedging Instrument | ||
| Subsequent Event [Line Items] | ||
| Notional Amount | $ 100,000,000 | |
| Maturity Date | May 18, 2017 | |
| Derivative fixed interest rate (in percent) | 2.313% | |
| Derivative contract term | 10 years | |
| Unsecured term loans, net | American Assets Trust, L.P. | Scenario, Forecast | ||
| Subsequent Event [Line Items] | ||
| Term of debt instrument | 12 years |
| X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
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| X | ||||||||||
- Definition Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
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- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition The number of units in a real estate property owned as of the balance sheet date. No definition available.
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| X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. No definition available.
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