| Year Ended December 31, | ||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
| Net income (loss) |
$ | 19,324 | $ | 2,174 | $ | 5,239 | $ | (11,505 | ) | $ | (4,675 | ) | ||||||||
| Plus: Real estate depreciation and amortization |
58,543 | 37,642 | 29,858 | 31,089 | 31,376 | |||||||||||||||
| Plus: Depreciation and amortization on unconsolidated real estate joint ventures (pro rata) |
688 | 15,304 | 16,743 | 14,626 | 13,400 | |||||||||||||||
| Plus: Impairment of investment in real estate joint ventures |
— | — | — | 15,836 | — | |||||||||||||||
| Less: Gain on sale of real estate |
(3,981 | ) | — | — | (2,625 | ) | — | |||||||||||||
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| Funds from operations |
$ | 74,574 | $ | 55,120 | $ | 51,840 | $ | 47,421 | $ | 40,101 | ||||||||||
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| Less: FFO attributable to Predecessor’s controlled and noncontrolled owners’ equity |
$ | (16,973 | ) | $ | (55,120 | ) | $ | (51,840 | ) | $ | (47,421 | ) | $ | (40,101 | ) | |||||
| Less: Nonforfeitable dividends on restricted stock awards |
$ | (316 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||
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| FFO attributable to common stock and units |
$ | 57,285 | $ | — | $ | — | $ | — | $ | — | ||||||||||
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| American Assets Trust, Inc. | ||
| By: | /s/ JOHN W. CHAMBERLAIN | |
| John W. Chamberlain | ||
| President and Chief Executive Officer | ||