Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

The following tables present NOI for each segment from our rental real estate specific to continuing operations for the quarters ended March 31, 2014 and 2013, respectively, as well as total assets and capital expenditures at March 31, 2014 (amounts in thousands):



	Quarter Ended March 31, 2014							Quarter Ended March 31, 2013
	Rental Income		Operating Expenses		NOI			Rental Income			Operating Expenses			NOI
Same store (1)
Boston	$	61,907	$	22,154	$	39,753		$	59,054		$	20,207		$	38,847
Denver	26,611		7,449		19,162			24,970			7,217			17,753
New York	111,185		46,202		64,983			107,997			43,111			64,886
San Francisco	81,261		26,655		54,606			74,945			28,156			46,789
Seattle	37,725		12,768		24,957			35,372			12,237			23,135
South Florida	48,437		18,184		30,253			46,239			17,643			28,596
Southern California	102,665		34,347		68,318			98,210			34,587			63,623
Washington DC	110,396		37,396		73,000			110,993			35,884			75,109
Non-core	33,691		13,084		20,607			32,672			12,443			20,229
Total same store	613,878		218,239		395,639			590,452			211,485			378,967

Non-same store/other (2) (3)
Boston	1,028		211		817			256			53			203
Seattle	1,687		690		997			25			1			24
South Florida	800		466		334			14			78			(64		)
Southern California	7,174		3,122		4,052			1,292			617			675
Washington DC	4,934		1,863		3,071			1,806			653			1,153
Other (3)	1,224		5,194		(3,970		)	1,140			9,955			(8,815		)
Total non-same store/other	16,847		11,546		5,301			4,533			11,357			(6,824		)

Archstone pre-ownership (4)	—		—		—			(92,423		)	(36,729		)	(55,694		)
Total	$	630,725	$	229,785	$	400,940		$	502,562		$	186,113		$	316,449


(1)	Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 100,984 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company.


(2)	Non-same store primarily includes properties acquired after January 1, 2013, plus any properties in lease-up and not stabilized as of January 1, 2013, but excludes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company.


(3)	Other includes development and other corporate operations.


(4)	Represents pro forma Archstone pre-ownership results for the period January 1, 2013 to February 27, 2013 that is included in 2013 same store results.



	Quarter Ended March 31, 2014
	Total Assets		Capital Expenditures
Same store (1)
Boston	$	1,968,613	$	4,078
Denver	536,226		762
New York	4,727,805		3,051
San Francisco	2,769,826		5,716
Seattle	1,053,600		2,205
South Florida	1,178,426		3,119
Southern California	3,000,465		5,142
Washington DC	4,299,085		5,529
Non-core	640,141		1,544
Total same store	20,174,187		31,146

Non-same store/other (2) (3)
Boston	48,971		263
Seattle	190,041		160
South Florida	70,725		(1		)
Southern California	446,912		173
Washington DC	305,668		449
Other (3)	1,653,127		1
Total non-same store/other	2,715,444		1,045
Total	$	22,889,631	$	32,191


(1)	Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 100,984 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company.


(2)	Non-same store primarily includes properties acquired after January 1, 2013, plus any properties in lease-up and not stabilized as of January 1, 2013, but excludes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company.


(3)	Other includes development and other corporate operations.

Reconciliation of NOI

The following table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the quarters ended March 31, 2014 and 2013, respectively (amounts in thousands):



	Quarter Ended March 31,
	2014			2013
Rental income	$	630,725		$	502,562
Property and maintenance expense	(125,573		)	(98,529		)
Real estate taxes and insurance expense	(82,094		)	(65,095		)
Property management expense	(22,118		)	(22,489		)
Total operating expenses	(229,785		)	(186,113		)
Net operating income	$	400,940		$	316,449

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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