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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Property rental $ 1,340,990 $ 1,157,522 $ 1,130,177
Tenant reinsurance 170,108 146,561 128,387
Management fees and other income 66,264 52,129 49,890
Total revenues 1,577,362 1,356,212 1,308,454
Expenses:      
Property operations 368,608 360,615 336,050
Tenant reinsurance 29,488 26,494 29,376
General and administrative 102,194 96,594 89,418
Depreciation and amortization 241,879 224,444 219,857
Total expenses 742,169 708,147 674,701
Gain on real estate transactions 140,760 18,075 1,205
Income from operations 975,953 666,140 634,958
Interest expense (166,183) (168,626) (186,526)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes 0 (3,675) (4,742)
Interest income 49,703 15,192 7,467
Income before equity in earnings and dividend income from unconsolidated real estate ventures and income tax expense 859,473 509,031 451,157
Equity in earnings and dividend income from unconsolidated real estate entities 32,358 22,361 11,274
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partner's interest 6,251 0 0
Income tax expense (20,324) (13,810) (11,308)
Net income 877,758 517,582 451,123
Net income allocated to Preferred Operating Partnership noncontrolling interests (14,697) (12,882) (12,492)
Net income allocated to Operating Partnership and other noncontrolling interests (35,412) (22,921) (18,664)
Net income attributable to common stockholders $ 827,649 $ 481,779 $ 419,967
Earnings per common share      
Basic (in dollars per share) $ 6.20 $ 3.71 $ 3.27
Diluted (in dollars per share) $ 6.19 $ 3.71 $ 3.24
Weighted average number of shares      
Basic (in shares) 133,374,938 129,541,531 128,203,568
Diluted (in shares) 140,016,028 129,584,829 136,433,769