XML 14 R3.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental income   $ 384,507 $ 361,983 $ 1,152,005 $ 1,079,784
Total revenues 1,662,013 1,473,844 4,888,220 4,342,084
Expenses:        
Property operating expenses 995,273 912,180 2,911,698 2,619,932
Depreciation and amortization 339,314 353,699 1,020,371 968,082
Interest expense 156,532 139,682 453,272 389,128
General and administrative expenses 46,106 34,811 134,764 109,071
Loss (gain) on derivatives and financial instruments, net 2,885 6,905 5,095 8,076
Loss (gain) on extinguishment of debt, net 1 2 7 593
Provision for loan losses, net 4,059 490 7,292 (149)
Impairment of assets 7,388 4,356 21,103 4,356
Other expenses 38,220 15,481 72,034 76,716
Total expenses 1,589,778 1,467,606 4,625,636 4,175,805
Income (loss) from continuing operations before income taxes and other items 72,235 6,238 262,584 166,279
Income tax (expense) benefit (4,584) (3,257) (11,132) (11,335)
Income (loss) from unconsolidated entities (4,031) (6,698) (51,434) (16,640)
Gain (loss) on real estate dispositions, net 71,102 1,064 69,681 20,466
Income (loss) from continuing operations 134,722 (2,653) 269,699 158,770
Net income (loss) 134,722 (2,653) 269,699 158,770
Less: Net income (loss) attributable to noncontrolling interests [1] 7,252 4,114 13,516 13,828
Net income (loss) attributable to common stockholders $ 127,470 $ (6,767) $ 256,183 $ 144,942
Weighted average number of common shares outstanding:        
Basic (in shares) 521,848 463,366 504,420 455,074
Diluted (in shares) 525,138 463,366 507,353 457,999
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.26 $ (0.01) $ 0.53 $ 0.35
Net income (loss) attributable to common stockholders (in dollars per share) 0.24 (0.01) 0.51 0.32
Diluted:        
Income (loss) from continuing operations (in dollars per share) 0.26 (0.01) 0.53 0.35
Net income (loss) attributable to common stockholders (in dollars per share) [2] 0.24 (0.01) 0.50 0.32
Dividends declared and paid per common share (in dollars per share) $ 0.61 $ 0.61 $ 1.83 $ 1.83
Net income (loss) $ 134,722 $ (2,653) $ 269,699 $ 158,770
Other comprehensive income (loss):        
Foreign currency translation gain (loss) (165,186) (372,494) 35,098 (746,165)
Derivative and financial instruments designated as hedges gain (loss) 106,449 417,567 (49,173) 753,588
Total other comprehensive income (loss) (58,737) 45,073 (14,075) 7,423
Total comprehensive income (loss) 75,985 42,420 255,624 166,193
Less: Total comprehensive income (loss) attributable to noncontrolling interests [3] 2,283 (20,741) 16,410 (24,798)
Total comprehensive income (loss) attributable to common stockholders 73,702 63,161 239,214 190,991
Resident fees and services        
Revenues:        
Non-cash consideration 1,199,808 1,068,706 3,490,942 3,073,040
Interest income        
Revenues:        
Non-cash consideration 42,220 37,791 117,335 113,925
Other income        
Revenues:        
Non-cash consideration $ 35,478 $ 5,364 $ 127,938 $ 75,335
[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.