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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Total revenues $ 1,125,912 $ 1,058,602 $ 2,222,877 $ 2,120,900
Expenses:        
Interest expense 121,416 116,231 244,191 234,827
Property operating expenses 568,751 501,855 1,125,216 1,012,024
Depreciation and amortization 236,275 224,847 464,476 453,124
General and administrative 32,831 32,632 66,536 63,733
Loss (gain) on derivatives and financial instruments, net (7,460) 736 (14,633) 1,960
Loss (gain) on extinguishment of debt, net 299 5,515 12,006 36,870
Impairment of assets 4,632 13,631 32,817 24,662
Other expenses 10,058 6,339 13,770 18,014
Total expenses 966,802 901,786 1,944,379 1,845,214
Income (loss) from continuing operations before income taxes and income from unconsolidated entities, total 159,110 156,816 278,498 275,686
Income tax (expense) benefit (3,841) 8,448 (5,429) 6,203
Income (loss) from unconsolidated entities 1,249 (3,978) (1,180) (27,084)
Income from continuing operations 156,518 161,286 271,889 254,805
Gain (loss) on real estate dispositions, net 10,755 42,155 348,939 286,247
Net income 167,273 203,441 620,828 541,052
Less: Preferred stock dividends 11,676 11,680 23,352 26,059
Less: Preferred stock redemption charge 0 0 0 9,769
Less: Net income (loss) attributable to noncontrolling interests [1] 1,165 3,332 5,373 4,156
Net income (loss) attributable to common stockholders $ 154,432 $ 188,429 $ 592,103 $ 501,068
Average number of common shares outstanding:        
Basic (in shares) 371,640,000 366,524,000 371,552,000 364,551,000
Diluted (in shares) 373,075,000 368,149,000 373,186,000 366,423,000
Basic:        
Income (loss) from continuing operations attributable to common stockholders, including real estate dispositions (in USD per share) $ 0.42 $ 0.44 $ 0.73 $ 0.70
Net income (loss) attributable to common stockholders, total (in USD per share) 0.42 0.51 1.59 1.37
Diluted:        
Income (loss) from continuing operations attributable to common stockholders, including real estate dispositions (in USD per share) 0.42 0.44 0.73 0.70
Net income (loss) attributable to common stockholders, total (in USD per share) 0.41 0.51 1.59 1.37
Dividends declared and paid per common share (in USD per share) $ 0.87 $ 0.87 $ 1.74 $ 1.74
Rental income        
Revenues:        
Total revenues $ 333,601 $ 355,599 $ 676,970 $ 722,741
Resident fees and services        
Revenues:        
Total revenues 763,345 677,040 1,499,279 1,347,377
Interest income        
Revenues:        
Total revenues 13,462 20,901 28,110 41,649
Other income        
Revenues:        
Total revenues $ 15,504 $ 5,062 $ 18,518 $ 9,133
[1] Includes amounts attributable to redeemable noncontrolling interests.