Reportable Segments (Tables)

12 Months Ended

Dec. 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 years ended December 31, 2014, 2013 and 2012, respectively, as well as total assets and capital expenditures at December 31, 2014 and 2013, respectively (amounts in thousands):



	Year Ended December 31, 2014						Year Ended December 31, 2013									Year Ended December 31, 2012
	Rental Income		Operating Expenses		NOI		Rental Income			Operating Expenses			NOI			Rental Income		Operating Expenses		NOI
Same store (1)
Boston	$	253,032	$	80,680	$	172,352	$	244,370		$	78,249		$	166,121		$	168,063	$	54,888	$	113,175
Denver	111,190		30,812		80,378		103,124			30,567			72,557			93,571		28,204		65,367
New York	455,598		171,336		284,262		438,366			165,329			273,037			274,683		109,667		165,016
San Francisco	340,251		106,424		233,827		312,345			108,218			204,127			159,535		57,373		102,162
Seattle	156,714		51,293		105,421		146,109			49,169			96,940			122,267		41,041		81,226
South Florida	191,729		70,296		121,433		182,620			69,475			113,145			177,675		67,811		109,864
Southern California	420,565		138,605		281,960		401,516			137,667			263,849			320,749		103,925		216,824
Washington DC	446,122		143,800		302,322		448,520			140,708			307,812			247,880		75,580		172,300
Non-core	100,732		37,451		63,281		97,380			36,483			60,897			128,816		48,548		80,268
Total same store	2,475,933		830,697		1,645,236		2,374,350			815,865			1,558,485			1,693,239		587,037		1,106,202

Non-same store/other (2) (3)
Boston	3,635		848		2,787		2,728			651			2,077			—		—		—
Denver	—		—		—		—			—			—			1,325		429		896
New York	—		—		—		—			—			—			14,611		5,988		8,623
San Francisco	—		—		—		—			—			—			7,268		3,022		4,246
Seattle	13,507		4,421		9,086		4,387			1,336			3,051			4,747		1,510		3,237
South Florida	5,475		2,743		2,732		390			810			(420		)	—		—		—
Southern California	43,118		17,755		25,363		15,016			6,846			8,170			3,040		1,179		1,861
Washington DC	24,193		7,936		16,257		13,562			4,086			9,476			13,124		3,984		9,140
Other (3)	39,450		13,735		25,715		59,994			34,903			25,091			575		17,695		(17,120		)
Total non-same store/ other	129,378		47,438		81,940		96,077			48,632			47,445			44,690		33,807		10,883

Archstone pre- ownership (4)	—		—		—		(92,423		)	(36,729		)	(55,694		)	—		—		—
Total	$	2,605,311	$	878,135	$	1,727,176	$	2,378,004		$	827,768		$	1,550,236		$	1,737,929	$	620,844	$	1,117,085

(1)

For the years ended December 31, 2014 and 2013, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 97,911 apartment units. Also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company. For the year ended December 31, 2012, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2012, less properties subsequently sold, which represented 80,247 apartment units.

(2)

For the years ended December 31, 2014 and 2013, 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. For the year December 31, 2012, non-same store primarily includes properties acquired after January 1, 2012, plus any properties in lease-up and not stabilized as of January 1, 2012.


(3)	Other includes development, other corporate operations and operations prior to sale for properties sold in 2014 that do not meet the new discontinued operations criteria.


(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.



	Year Ended December 31, 2014				Year Ended December 31, 2013
	Total Assets		Capital Expenditures		Total Assets		Capital Expenditures
Same store (1)
Boston	$	1,923,540	$	19,575	$	1,984,745	$	17,625
Denver	520,537		5,863		541,480		5,384
New York	4,647,269		22,118		4,771,001		12,006
San Francisco	2,718,174		26,995		2,793,390		21,756
Seattle	1,032,140		14,570		1,061,118		7,940
South Florida	1,135,552		14,335		1,170,931		14,351
Southern California	2,910,934		26,975		3,010,786		19,852
Washington DC	4,223,590		42,927		4,339,246		24,506
Non-core	408,486		5,675		427,108		3,528
Total same store	19,520,222		179,033		20,099,805		126,948

Non-same store/other (2) (3)
Boston	48,323		699		49,372		102
Seattle	318,488		1,115		182,745		55
South Florida	67,833		8		68,987		1
Southern California	747,438		1,780		411,302		648
Washington DC	301,902		2,147		301,623		439
Other (3)	1,946,408		1,175		1,720,711		7,623
Total non-same store/other	3,430,392		6,924		2,734,740		8,868
Total	$	22,950,614	$	185,957	$	22,834,545	$	135,816


(1)	Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2013, less properties subsequently sold, which represented 97,911 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, other corporate operations and capital expenditures for properties sold.

Reconciliation of NOI

The following table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the years ended December 31, 2014, 2013 and 2012, respectively (amounts in thousands):



	Year Ended December 31,
	2014			2013			2012
Rental income	$	2,605,311		$	2,378,004		$	1,737,929
Property and maintenance expense	(473,098		)	(449,427		)	(332,219		)
Real estate taxes and insurance expense	(325,401		)	(293,999		)	(206,723		)
Property management expense	(79,636		)	(84,342		)	(81,902		)
Total operating expenses	(878,135		)	(827,768		)	(620,844		)
Net operating income	$	1,727,176		$	1,550,236		$	1,117,085

- 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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