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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental income   $ 383,439 $ 361,411 $ 767,498 $ 717,801
Total revenues 1,665,478 1,472,536 3,226,207 2,868,240
Expenses:        
Property operating expenses 958,672 854,083 1,916,425 1,707,752
Depreciation and amortization 341,945 310,295 681,057 614,383
Interest expense 152,337 127,750 296,740 249,446
General and administrative expenses 44,287 36,554 88,658 74,260
Loss (gain) on derivatives and financial instruments, net 1,280 (1,407) 2,210 1,171
Loss (gain) on extinguishment of debt, net 1 603 6 591
Provision for loan losses, net 2,456 165 3,233 (639)
Impairment of assets 1,086 0 13,715 0
Other expenses 11,069 35,166 33,814 61,235
Total expenses 1,513,133 1,363,209 3,035,858 2,708,199
Income (loss) from continuing operations before income taxes and other items 152,345 109,327 190,349 160,041
Income tax (expense) benefit (3,503) (3,065) (6,548) (8,078)
Income (loss) from unconsolidated entities (40,332) (7,058) (47,403) (9,942)
Gain (loss) on real estate dispositions, net (2,168) (3,532) (1,421) 19,402
Income (loss) from continuing operations 106,342 95,672 134,977 161,423
Net income (loss) 106,342 95,672 134,977 161,423
Less: Net income (loss) attributable to noncontrolling interests [1] 3,302 5,888 6,264 9,714
Net income (loss) attributable to common stockholders $ 103,040 $ 89,784 $ 128,713 $ 151,709
Weighted average number of common shares outstanding:        
Basic (in shares) 499,023 454,327 495,561 450,865
Diluted (in shares) 501,970 457,082 498,305 453,455
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.21 $ 0.21 $ 0.27 $ 0.36
Net income (loss) attributable to common stockholders (in dollars per share) 0.21 0.20 0.26 0.34
Diluted:        
Income (loss) from continuing operations (in dollars per share) 0.21 0.21 0.27 0.36
Net income (loss) attributable to common stockholders (in dollars per share) [2] 0.20 0.20 0.26 0.33
Dividends declared and paid per common share (in dollars per share) $ 0.61 $ 0.61 $ 1.22 $ 1.22
Net income (loss) $ 106,342 $ 95,672 $ 134,977 $ 161,423
Other comprehensive income (loss):        
Foreign currency translation gain (loss) 119,519 (306,723) 200,284 (373,671)
Derivative and financial instruments designated as hedges gain (loss) (85,884) 284,081 (155,622) 336,021
Total other comprehensive income (loss) 33,635 (22,642) 44,662 (37,650)
Total comprehensive income (loss) 139,977 73,030 179,639 123,773
Less: Total comprehensive income (loss) attributable to noncontrolling interests [3] 8,286 (10,031) 14,127 (4,057)
Total comprehensive income (loss) attributable to common stockholders 131,691 83,061 165,512 127,830
Resident fees and services        
Revenues:        
Non-cash consideration 1,159,449 1,009,999 2,291,134 2,004,334
Interest income        
Revenues:        
Non-cash consideration 38,710 37,140 75,115 76,134
Other income        
Revenues:        
Non-cash consideration $ 83,880 $ 63,986 $ 92,460 $ 69,971
[1] Includes amounts attributable to redeemable noncontrolling interests.
[2] Includes adjustment to the numerator for income (loss) attributable to OP Units and DownREIT Units.
[3] (1) Includes amounts attributable to redeemable noncontrolling interests.