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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES    
Rental revenue $ 85,899,000 $ 92,744,000
Total revenues 190,580,000 175,175,000
EXPENSES    
Operating costs 58,598,000 64,606,000
Rental property real estate taxes 13,991,000 13,578,000
Provision for (recovery of) doubtful accounts (578,000) 1,701,000
Development-related marketing costs 1,644,000 2,816,000
General and administrative 21,766,000 39,081,000
Depreciation and amortization 49,308,000 61,637,000
Total expenses 215,348,000 298,106,000
OTHER    
Provision for impairment 0 (48,738,000)
Gain (loss) on sale or disposal of real estate and other assets, net 0 38,124,000
Other income (loss), net (10,308,000) (3,684,000)
Total other (10,308,000) (14,298,000)
Operating income (loss) (35,076,000) (137,229,000)
Interest income 41,000 1,146,000
Interest expense (34,210,000) (34,448,000)
Gain (loss) on extinguishment of debt (35,915,000) 0
Equity in earnings (losses) from real estate and other affiliates 15,796,000 11,349,000
Income (loss) before taxes (89,364,000) (159,182,000)
Provision (benefit) for income taxes (21,205,000) (34,100,000)
Net income (loss) (68,159,000) (125,082,000)
Net (income) loss attributable to noncontrolling interests 1,565,000 (52,000)
Net income (loss) attributable to common stockholders $ (66,594,000) $ (125,134,000)
Basic income (loss) per share (in dollars per share) $ (1.20) $ (2.88)
Diluted income (loss) per share (in dollars per share) $ (1.20) $ (2.88)
Condominium rights and unit sales    
REVENUES    
Revenues from contracts with customers $ 37,167,000 $ 43,000
EXPENSES    
Cost of sales 54,968,000 97,901,000
Master Planned Communities land sales    
REVENUES    
Revenues from contracts with customers 37,477,000 39,732,000
EXPENSES    
Cost of sales 15,651,000 16,786,000
Other land, rental and property revenues    
REVENUES    
Revenues from contracts with customers 23,243,000 34,897,000
Builder price participation    
REVENUES    
Revenues from contracts with customers $ 6,794,000 $ 7,759,000