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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES        
Rental income $ 662,001 $ 624,063 $ 1,942,492 $ 1,741,169
Fee and asset management 2,077 2,566 7,596 7,399
Total revenues 664,078 626,629 1,950,088 1,748,568
EXPENSES        
Property and maintenance 120,144 118,782 361,105 330,812
Real estate taxes and insurance 80,568 75,916 245,717 217,753
Property management 18,407 18,875 61,080 63,395
Fee and asset management 1,253 1,516 4,293 4,739
Depreciation 190,469 276,707 565,772 796,233
General and administrative 9,968 14,437 41,296 47,017
Total expenses 420,809 506,233 1,279,263 1,459,949
Operating Income 243,269 120,396 670,825 288,619
Interest and other income 576 1,015 3,213 1,767
Other expenses (4,971) (4,368) (7,161) (27,718)
Interest:        
Expense incurred, net (118,251) (120,035) (347,224) (437,452)
Amortization of deferred financing costs (2,628) (4,335) (8,554) (15,636)
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net gain (loss) on sales of land parcels, discontinued operations and net gain on sales of real estate properties 117,995 (7,327) 311,099 (190,420)
Income and other tax (expense) benefit (260) (492) (1,146) (1,325)
(Loss) from investments in unconsolidated entities (1,176) (3,209) (10,201) (57,749)
Net gain (loss) on sales of land parcels 1,052 (2,437) 1,846 12,179
Income (loss) from continuing operations 117,611 (13,465) 301,598 (237,315)
Discontinued operations, net (62) 405,182 1,500 2,026,798
Income before net gain on sales of real estate properties 117,549 391,717 303,098 1,789,483
Net gain on sales of real estate properties 113,641 0 128,544 0
Net income 231,190 391,717 431,642 1,789,483
Net (income) loss attributable to Noncontrolling Interests:        
Net (Income) loss Attributable to Noncontrolling Interest (8,738) (14,836) (16,273) (70,947)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (708) 311 (1,800) 1,101
Net income attributable to controlling interests 221,744 377,192 413,569 1,719,637
Preferred distributions (1,037) (1,037) (3,109) (3,109)
Net income available to Common Shares $ 220,707 $ 376,155 $ 410,460 $ 1,716,528
Earnings per share - basic:        
Income (loss) from continuing operations available to Common Shares $ 0.611 $ (0.038) $ 1.133 $ (0.652)
Net income available to Common Shares $ 0.611 $ 1.045 $ 1.137 $ 4.871
Weighted average Common Shares outstanding 361,409 359,811 360,900 352,414
Earnings per share - diluted:        
Income (loss) from continuing operations available to Common Shares $ 0.607 $ (0.038) $ 1.127 $ (0.652)
Net income available to Common Shares $ 0.607 $ 1.045 $ 1.131 $ 4.871
Weighted average Common Shares outstanding 377,954 359,811 377,228 352,414
Distributions declared per Common Share outstanding $ 0.50 $ 0.40 $ 1.50 $ 1.20