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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Minimum rents $ 55,552   $ 164,356  
Minimum rents   $ 53,244   $ 153,156
Tenant recoveries 13,704   40,724  
Tenant recoveries   12,806   37,808
Interest income from sales-type leases 1,088 0 1,088 0
Total revenues 231,172 257,160 1,016,378 599,844
Expenses:        
Other property operating costs 53,214 42,942 131,808 91,847
Rental property real estate taxes 9,080 8,519 28,585 24,148
Rental property maintenance costs 3,533 4,456 11,862 11,604
Hospitality operating costs 14,080 14,723 46,310 45,707
(Recovery) provision for doubtful accounts (107) 2,282 (195) 4,417
Demolition costs 138 2,835 737 16,166
Development-related marketing costs 5,341 7,218 16,874 20,484
General and administrative 32,519 20,645 87,923 71,795
Depreciation and amortization 40,093 31,123 115,142 88,398
Total expenses 210,071 211,138 918,446 559,844
Other:        
Gain on sale or disposal of real estate, net 24,201 0 24,051 0
Other income (loss), net 1,337 (3,710) 11,798 (3,444)
Total other 25,538 (3,710) 35,849 (3,444)
Operating income 46,639 42,312 133,781 36,556
Selling profit from sales-type leases 13,537   13,537  
Interest income 2,872 2,080 7,696 6,759
Interest expense (28,829) (21,670) (76,358) (57,182)
Equity in earnings from real estate and other affiliates 4,542 8,612 20,847 39,297
Income before taxes 38,761 31,334 99,503 25,430
Provision for income taxes 8,718 7,487 24,207 5,628
Net income 30,043 23,847 75,296 19,802
Net income attributable to noncontrolling interests (285) (482) (240) (51)
Net income attributable to common stockholders $ 29,758 $ 23,365 $ 75,056 $ 19,751
Basic income per share (in dollars per share) $ 0.69 $ 0.54 $ 1.74 $ 0.46
Diluted income per share (in dollars per share) $ 0.69 $ 0.54 $ 1.73 $ 0.46
Condominium rights and unit sales        
Revenues:        
Revenue $ 9,999 $ 8,045 $ 443,931 $ 39,767
Expenses:        
Cost of goods and services 7,010 6,168 365,324 41,713
Master Planned Communities land sales        
Revenues:        
Revenue 77,368 127,730 177,001 226,727
Hospitality revenues        
Revenues:        
Revenue 20,031 19,108 68,536 64,738
Builder price participation        
Revenues:        
Revenue 9,660 8,685 24,224 19,394
Other land revenues        
Revenues:        
Revenue 5,954 7,145 16,646 15,988
Other rental and property revenues        
Revenues:        
Revenue 37,816 20,397 79,872 42,266
Master Planned Communities cost of sales        
Expenses:        
Cost of goods and services 33,304 57,183 78,128 109,609
Master Planned Communities operations        
Expenses:        
Cost of goods and services $ 11,866 $ 13,044 $ 35,948 $ 33,956