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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues      
Revenues from rental properties $ 1,152,401 $ 1,144,474 $ 958,888
Management and other fee income 18,391 22,295 35,009
Total revenues 1,170,792 1,166,769 993,897
Operating expenses      
Rent 10,993 12,347 14,250
Real estate taxes 146,615 147,150 124,670
Operating and maintenance 140,910 144,980 119,697
General and administrative expenses 117,302 122,735 122,201
Provision for doubtful accounts 5,563 6,075 4,882
Impairment charges 93,266 45,464 217,858
Depreciation and amortization 355,320 344,527 258,074
Total operating expenses 869,969 823,197 683,582
Operating income 300,823 343,572 310,315
Other income/(expense)      
Mortgage financing income 1,634 2,940 3,129
Interest, dividends and other investment income 1,478 39,061 966
Other expense, net 2,313 2,234 (8,544)
Interest expense (192,549) (218,891) (203,759)
Early extinguishment of debt charges (45,674)
Income from continuing operations before income taxes, equity in income of joint ventures, gain on change in control of interests and equity in income from other real estate investments 68,025 168,916 102,107
Provision for income taxes, net (72,545) (60,230) (22,438)
Equity in income of joint ventures, net 218,714 480,395 159,560
Gain on change in control of interests, net 57,386 149,234 107,235
Income from continuing operations 299,353 774,405 384,506
Discontinued operations      
(Loss)/income from discontinued operating properties, net of tax (15) 36,780
Impairment/loss on operating properties, net of tax (60) (176,315)
Gain on disposition of operating properties, net of tax 190,520
(Loss)/income from discontinued operating properties (75) 50,985
Gain on sale of operating properties, net, net of tax 86,785 125,813 389
Net income 386,138 900,143 435,880
Net income attributable to noncontrolling interests (7,288) (6,028) (11,879)
Net income attributable to the Company 378,850 894,115 424,001
Preferred stock redemption charges (5,816)
Preferred dividends (46,220) (57,084) (58,294)
Net income available to the Company's common shareholders $ 332,630 $ 831,215 $ 365,707
Per common share:      
-Basic (in dollars per share) $ 0.79 $ 2.01 $ 0.77
-Diluted (in dollars per share) 0.79 2 0.77
Net income available to the Company:      
-Basic (in dollars per share) 0.79 2.01 0.89
-Diluted (in dollars per share) $ 0.79 $ 2 $ 0.89
Weighted average shares:      
-Basic (in shares) 418,402 411,319 409,088
-Diluted (in shares) [1] 419,709 412,851 411,038
Amounts available to the Company's common shareholders:      
Income from continuing operations $ 332,630 $ 831,290 $ 316,839
(Loss)/income from discontinued operations (75) 48,868
Net income 332,630 831,215 365,707
Joint Ventures [Member]      
Other income/(expense)      
Equity in income of joint ventures, net 218,714 480,395 159,560
Other Real Estate Investments [Member]      
Operating expenses      
Impairment charges   5,300  
Other income/(expense)      
Equity in income of joint ventures, net 27,773 36,090 38,042
Continuing Operations [Member]      
Operating expenses      
Impairment charges $ 93,266 $ 45,383 $ 39,808
[1] The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 3,490,400, 5,300,680 and 7,137,120, stock options that were not dilutive as of December 31, 2016, 2015 and 2014, respectively.