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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Rental revenue $ 104,055 $ 88,476 $ 199,164 $ 174,375
Total revenues 276,708 212,457 486,934 403,037
EXPENSES        
Operating costs 86,119 71,243 151,674 129,841
Rental property real estate taxes 13,014 13,716 28,196 27,707
Provision for (recovery of) doubtful accounts 1,288 (1,520) 2,132 (2,098)
General and administrative 15,512 20,334 41,403 42,100
Depreciation and amortization 48,976 49,788 97,569 99,096
Other 2,674 2,546 5,083 4,190
Total expenses 218,392 194,400 415,732 409,748
OTHER        
Provision for impairment 0 (13,068) 0 (13,068)
Gain (loss) on sale or disposal of real estate and other assets, net 4,018 21,333 4,009 21,333
Other income (loss), net 714 (663) 493 (10,971)
Total other 4,732 7,602 4,502 (2,706)
Operating income (loss) 63,048 25,659 75,704 (9,417)
Interest income 254 31 278 72
Interest expense (28,152) (31,439) (55,590) (65,649)
Gain (loss) on extinguishment of debt (363) (51) (645) (35,966)
Equity in earnings (losses) from real estate and other affiliates (6,092) 7,867 11,820 23,663
Income (loss) before income taxes 28,695 2,067 31,567 (87,297)
Income tax expense (benefit) 7,263 (1,550) 7,964 (22,755)
Net income (loss) 21,432 3,617 23,603 (64,542)
Net (income) loss attributable to noncontrolling interests 132 1,224 83 2,789
Net income (loss) attributable to common stockholders, basic 21,564 4,841 23,686 (61,753)
Net income (loss) attributable to common stockholders, diluted $ 21,564 $ 4,841 $ 23,686 $ (61,753)
Basic income (loss) per share (in dollars per share) $ 0.42 $ 0.09 $ 0.46 $ (1.11)
Diluted income (loss) per share (in dollars per share) $ 0.42 $ 0.09 $ 0.46 $ (1.11)
Condominium rights and unit sales        
REVENUES        
Revenues from contracts with customers $ 21,420 $ 12,861 $ 41,036 $ 50,028
EXPENSES        
Cost of sales 19,546 13,435 33,726 68,403
Master Planned Communities land sales        
REVENUES        
Revenues from contracts with customers 84,979 58,342 146,447 95,819
EXPENSES        
Cost of sales 31,263 24,858 55,949 40,509
Other land, rental and property revenues        
REVENUES        
Revenues from contracts with customers 47,783 41,389 67,320 64,632
Builder price participation        
REVENUES        
Revenues from contracts with customers $ 18,471 $ 11,389 $ 32,967 $ 18,183