Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Rental income $ 110,910 $ 109,364 $ 223,750 $ 217,411
Expenses        
Cost of operations 32,587 31,849 66,701 65,067
Depreciation and amortization 22,799 22,514 45,931 45,499
General and administrative 11,092 4,799 22,416 9,181
Total operating expenses 66,478 59,162 135,048 119,747
Interest and other income 1,722 923 1,968 1,179
Interest and other expense (476) (268) (806) (479)
Gain on sale of real estate facilities 61,842 19,193 118,801 19,193
Net income 107,520 70,050 208,665 117,557
Allocation to noncontrolling interests (20,388) (12,094) (39,437) (19,505)
Net income allocable to PS Business Parks, Inc. 87,132 57,956 169,228 98,052
Allocation to preferred stockholders (9,580) (12,047) (19,160) (24,093)
Allocation to restricted stock unit holders (475) (314) (998) (478)
Net income allocable to common stockholders $ 77,077 $ 45,595 $ 149,070 $ 73,481
Net income per share of common stock        
Basic (in dollars per share) $ 2.79 $ 1.66 $ 5.40 $ 2.67
Diluted (in dollars per share) $ 2.78 $ 1.65 $ 5.38 $ 2.66
Weighted average common stock outstanding        
Basic (in shares) 27,630 27,531 27,618 27,513
Diluted (in shares) 27,722 27,632 27,707 27,611