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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Rental revenue $ 70,072 $ 70,344 $ 241,522 $ 206,168
Total revenues 154,440 231,172 485,788 1,016,378
EXPENSES        
Operating costs 58,272 81,222 168,763 221,529
Rental property real estate taxes 15,448 9,080 44,225 28,585
Provision for (recovery of) doubtful accounts 1,387 (107) 4,954 (195)
Demolition costs 0 138 0 737
Development-related marketing costs 1,912 5,341 6,541 16,874
General and administrative 23,441 33,990 84,755 92,322
Depreciation and amortization 52,395 40,093 160,995 115,142
Total expenses 169,841 210,071 634,129 918,446
OTHER        
Provision for impairment 0 0 (48,738) 0
Gain (loss) on sale or disposal of real estate and other assets, net 108 24,201 46,232 24,051
Other income (loss), net 1,284 1,337 (793) 11,798
Total other 1,392 25,538 (3,299) 35,849
Operating income (loss) (14,009) 46,639 (151,640) 133,781
Selling profit from sales-type leases 0 13,537 0 13,537
Interest income 358 2,872 1,908 7,696
Interest expense (31,872) (28,829) (98,717) (76,358)
Gain (loss) on extinguishment of debt (13,166) 0 (13,166) 0
Equity in earnings (losses) from real estate and other affiliates 266,838 4,542 269,635 20,847
Income (loss) before taxes 208,149 38,761 8,020 99,503
Provision (benefit) for income taxes 44,147 8,718 3,203 24,207
Net income (loss) 164,002 30,043 4,817 75,296
Net (income) loss attributable to noncontrolling interests (24,292) (285) (24,325) (240)
Net income (loss) attributable to common stockholders $ 139,710 $ 29,758 $ (19,508) $ 75,056
Basic income (loss) per share (in dollars per share) $ 2.52 $ 0.69 $ (0.38) $ 1.74
Diluted income (loss) per share (in dollars per share) $ 2.51 $ 0.69 $ (0.38) $ 1.73
Condominium rights and unit sales        
REVENUES        
Revenues $ 142 $ 9,999 $ 185 $ 443,931
EXPENSES        
Cost of sales 1,087 7,010 105,336 365,324
Master Planned Communities land sales        
REVENUES        
Revenues 39,248 77,368 136,053 177,001
EXPENSES        
Cost of sales 15,899 33,304 58,560 78,128
Other land, rental and property revenues        
REVENUES        
Revenues 35,748 63,801 82,092 165,054
Builder price participation        
REVENUES        
Revenues $ 9,230 $ 9,660 $ 25,936 $ 24,224