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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Rental income $ 354,148,000 $ 308,512,000 $ 1,038,451,000 $ 900,028,000
Resident fees and services 482,412,000 466,127,000 1,406,316,000 1,164,446,000
Interest income 9,344,000 7,629,000 26,871,000 24,325,000
Other income 1,619,000 1,443,000 4,139,000 3,168,000
Total revenues 847,523,000 783,711,000 2,475,777,000 2,091,967,000
Expenses:        
Interest expense 118,435,000 116,020,000 360,334,000 334,321,000
Property operating expenses 355,157,000 341,921,000 1,040,342,000 872,701,000
Depreciation and amortization 200,970,000 241,027,000 648,737,000 623,777,000
General and administrative 30,803,000 28,718,000 115,327,000 79,799,000
Transaction costs 13,554,000 23,591,000 21,546,000 117,707,000
Loss (gain) on derivatives, net 49,000 4,872,000 400,000 4,465,000
Loss (gain) on extinguishment of debt, net 2,692,000 (4,068,000) (3,075,000) 4,376,000
Other expenses 10,262,000   10,262,000  
Total expenses 731,922,000 752,081,000 2,200,023,000 2,028,394,000
Income (loss) from continuing operations before income taxes and income from unconsolidated entities, total 115,601,000 31,630,000 275,754,000 63,573,000
Income tax (expense) benefit 10,198,000 (3,077,000) 6,369,000 (7,055,000)
Income (loss) from unconsolidated entities (2,632,000) (331,000) (19,705,000) (3,529,000)
Income (loss) from continuing operations 123,167,000 28,222,000 262,418,000 52,989,000
Discontinued operations:        
Gain (loss) on sales of discontinued properties, net 0 4,707,000 6,411,000 57,202,000
Income (loss) from discontinued operations, net 0 676,000 724,000 2,397,000
Discontinued operations, net 0 5,383,000 7,135,000 59,599,000
Gain (loss) on real estate dispositions, net 29,604,000 0 36,272,000 0
Net income 152,771,000 33,605,000 305,825,000 112,588,000
Less: Preferred stock dividends 16,352,000 16,602,000 49,057,000 49,805,000
Less: Net income (loss) attributable to noncontrolling interests 164,000 [1] (3,688,000) [1] (1,339,000) [1] (4,462,000) [1]
Net income (loss) attributable to common stockholders $ 136,255,000 $ 20,691,000 $ 258,107,000 $ 67,245,000
Average number of common shares outstanding:        
Basic 311,117,000 286,020,000 299,137,000 273,148,000
Diluted 312,812,000 288,029,000 300,645,000 275,247,000
Basic:        
Income (loss) from continuing operations attributable to common stockholders, including real estate dispositions $ 0.44 $ 0.05 $ 0.84 $ 0.03
Discontinued operations, net $ 0 $ 0.02 $ 0.02 $ 0.22
Net income (loss) attributable to common stockholders, total $ 0.44 $ 0.07 $ 0.86 $ 0.25
Diluted:        
Income (loss) from continuing operations attributable to common stockholders, including real estate dispositions $ 0.44 $ 0.05 $ 0.83 $ 0.03
Discontinued operations, net $ 0 $ 0.02 $ 0.02 $ 0.22
Net income (loss) attributable to common stockholders, total $ 0.44 $ 0.07 $ 0.86 $ 0.24
Dividends declared and paid per common share $ 0.795 $ 0.765 $ 2.385 $ 2.295
[1]
(1) Includes amounts attributable to redeemable noncontrolling interests.