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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES        
Rental income $ 649,766 $ 614,544 $ 1,280,491 $ 1,117,106
Fee and asset management 2,802 2,673 5,519 4,833
Total revenues 652,568 617,217 1,286,010 1,121,939
EXPENSES        
Property and maintenance 115,388 113,501 240,961 212,030
Real estate taxes and insurance 83,055 76,742 165,149 141,837
Property management 20,555 22,031 42,673 44,520
Fee and asset management 1,378 1,577 3,040 3,223
Depreciation 190,136 323,304 375,303 519,526
General and administrative 13,752 16,085 31,328 32,580
Total expenses 424,264 553,240 858,454 953,716
Operating Income 228,304 63,977 427,556 168,223
Interest and other income 2,032 432 2,637 752
Other expenses (1,533) (1,631) (2,190) (23,350)
Interest:        
Expense incurred, net (115,924) (122,950) (228,973) (317,417)
Amortization of deferred financing costs (3,134) (4,353) (5,926) (11,301)
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net gain on sales of land parcels, discontinued operations and net gain on sales of real estate properties 109,745 (64,525) 193,104 (183,093)
Income and other tax (expense) benefit (646) (428) (886) (833)
(Loss) from investments in unconsolidated entities (7,616) (8,174) (9,025) (54,540)
Net gain on sales of land parcels 824 14,616 794 14,616
Income (loss) from continuing operations 102,307 (58,511) 183,987 (223,850)
Discontinued operations, net 510 395,243 1,562 1,621,616
Income before net gain on sales of real estate properties 102,817 336,732 185,549 1,397,766
Net gain on sales of real estate properties 14,903 0 14,903 0
Net income 117,720 336,732 200,452 1,397,766
Net (income) loss attributable to Noncontrolling Interests:        
Net (Income) loss Attributable to Noncontrolling Interest (4,442) (12,788) (7,535) (56,111)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (588) 815 (1,092) 790
Net income attributable to controlling interests 112,690 324,759 191,825 1,342,445
Preferred distributions (1,036) (1,036) (2,072) (2,072)
Net income available to Common Shares $ 111,654 $ 323,723 $ 189,753 $ 1,340,373
Earnings per share - basic:        
Income (loss) from continuing operations available to Common Shares $ 0.308 $ (0.157) $ 0.522 $ (0.620)
Net income available to Common Shares $ 0.309 $ 0.900 $ 0.526 $ 3.844
Weighted average Common Shares outstanding 360,809 359,653 360,641 348,654
Earnings per share - diluted:        
Income (loss) from continuing operations available to Common Shares $ 0.307 $ (0.157) $ 0.520 $ (0.620)
Net income available to Common Shares $ 0.308 $ 0.900 $ 0.524 $ 3.844
Weighted average Common Shares outstanding 377,118 359,653 376,780 348,654
Distributions declared per Common Share outstanding $ 0.50 $ 0.40 $ 1.00 $ 0.80