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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES      
Rental revenue $ 369,330 $ 323,182 $ 278,806
Total revenues 1,427,901 699,489 1,300,539
EXPENSES      
Operating costs 293,999 226,791 294,486
Rental property real estate taxes 55,398 52,815 36,861
Provision for (recovery of) doubtful accounts (459) 6,009 (414)
Demolition costs 355 0 855
Development-related marketing costs 10,313 8,166 23,067
General and administrative 81,990 109,402 162,506
Depreciation and amortization 205,100 217,467 155,798
Total expenses 1,214,525 830,384 1,184,770
OTHER      
Provision for impairment (13,068) (48,738) 0
Gain (loss) on sale or disposal of real estate and other assets, net 53,079 59,942 22,362
Other income (loss), net (11,515) 130 12,179
Total other 28,496 11,334 34,541
Operating income (loss) 241,872 (119,561) 150,310
Selling profit from sales-type leases 0 0 13,537
Interest income 107 2,368 9,797
Interest expense (130,036) (132,257) (105,374)
Gain (loss) on extinguishment of debt (38,014) (13,169) 4,641
Equity in earnings (losses) from real estate and other affiliates (9,852) 271,099 30,629
Income (loss) before income taxes 64,077 8,480 103,540
Income taxes on (gains) losses on cash flow hedges 15,153 11,653 29,245
Net income (loss) 48,924 (3,173) 74,295
Net (income) loss attributable to noncontrolling interests 7,176 (22,981) (339)
Net income (loss) attributable to common stockholders, basic 56,100 (26,154) 73,956
Net income (loss) attributable to common stockholders, diluted $ 56,100 $ (26,154) $ 73,956
Basic income per share (in dollars per share) $ 1.03 $ (0.50) $ 1.71
Diluted income per share (in dollars per share) $ 1.03 $ (0.50) $ 1.71
Master Planned Communities land sales      
REVENUES      
Revenue $ 346,217 $ 233,044 $ 330,146
EXPENSES      
Cost of sales 153,630 101,505 141,852
Condominium rights and unit sales      
REVENUES      
Revenue 514,597 1,143 448,940
EXPENSES      
Cost of sales 414,199 108,229 369,759
Other land, rental and property revenues      
REVENUES      
Revenue 152,619 105,048 206,966
Builder price participation      
REVENUES      
Revenue $ 45,138 $ 37,072 $ 35,681