Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2015

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

The following table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the years ended December 31, 2015, 2014 and 2013, respectively (amounts in thousands):



	Year Ended December 31,
	2015			2014			2013
Rental income	$	2,736,578		$	2,605,311		$	2,378,004
Property and maintenance expense	(479,160		)	(473,098		)	(449,427		)
Real estate taxes and insurance expense	(339,802		)	(325,401		)	(293,999		)
Property management expense	(81,185		)	(79,636		)	(84,342		)
Total operating expenses	(900,147		)	(878,135		)	(827,768		)
Net operating income	$	1,836,431		$	1,727,176		$	1,550,236

Reportable Segments Schedule

The following tables present NOI for each segment from our rental real estate specific to continuing operations for the years ended December 31, 2015, 2014 and 2013, respectively, as well as total assets and capital expenditures at December 31, 2015 and 2014, respectively (amounts in thousands):



	Year Ended December 31, 2015						Year Ended December 31, 2014							Year Ended December 31, 2013
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI			Rental Income			Operating Expenses			NOI
Same store (1)
Boston	$	252,620	$	81,176	$	171,444	$	244,612	$	77,408	$	167,204		$	244,370		$	78,249		$	166,121
New York	474,850		176,654		298,196		455,598		170,549		285,049			438,366			165,329			273,037
San Francisco	376,073		108,003		268,070		340,252		106,425		233,827			312,345			108,218			204,127
Seattle	164,319		50,079		114,240		153,197		50,377		102,820			146,109			49,169			96,940
Southern California	433,431		136,559		296,872		410,094		135,091		275,003			401,516			137,667			263,849
Washington D.C.	455,341		149,190		306,151		451,973		145,523		306,450			448,520			140,708			307,812
Non-core – South Florida	202,714		72,792		129,922		191,729		70,295		121,434			182,620			69,475			113,145
Non-core – Denver	120,938		31,708		89,230		111,190		30,811		80,379			103,124			30,567			72,557
Non-core – other	86,419		31,719		54,700		82,745		30,858		51,887			97,380			36,483			60,897
Total same store	2,566,705		837,880		1,728,825		2,441,390		817,337		1,624,053			2,374,350			815,865			1,558,485

Non-same store/other (2) (3)
Boston	9,028		2,570		6,458		3,637		841		2,796			2,728			651			2,077
New York	9,835		7,460		2,375		42		92		(50		)	—			—			—
San Francisco	6,408		2,974		3,434		15		147		(132		)	—			—			—
Seattle	22,199		6,478		15,721		6,951		2,172		4,779			4,387			1,336			3,051
Southern California	71,719		26,264		45,455		49,663		19,518		30,145			15,016			6,846			8,170
Washington D.C.	21,822		6,313		15,509		17,927		6,115		11,812			13,562			4,086			9,476
Non-core – South Florida	7,912		2,830		5,082		5,480		2,619		2,861			390			810			(420		)
Other (3)	20,950		7,378		13,572		80,206		29,294		50,912			59,994			34,903			25,091
Total non-same store/other	169,873		62,267		107,606		163,921		60,798		103,123			96,077			48,632			47,445

Archstone pre-ownership (4)	—		—		—		—		—		—			(92,423		)	(36,729		)	(55,694		)
Total	$	2,736,578	$	900,147	$	1,836,431	$	2,605,311	$	878,135	$	1,727,176		$	2,378,004		$	827,768		$	1,550,236

(1)

For the years ended December 31, 2015 and 2014, same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2014, less properties subsequently sold, which represented 96,286 apartment units. For the year ended December 31, 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 and also includes 18,465 stabilized apartment units acquired in the Archstone Acquisition that are owned and managed by the Company.

(2)

For the years ended December 31, 2015 and 2014, non-same store primarily includes properties acquired after January 1, 2014, plus any properties in lease-up and not stabilized as of January 1, 2014. For the year ended December 31, 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.


(3)	Other includes development, other corporate operations and operations prior to sale for properties sold in 2014 and 2015 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, 2015					Year Ended December 31, 2014
	Total Assets		Capital Expenditures			Total Assets		Capital Expenditures
Same store (1)
Boston	$	1,840,812	$	18,759		$	1,897,740	$	19,254
New York	4,585,328		19,273			4,647,269		22,118
San Francisco	2,653,629		25,813			2,718,174		26,994
Seattle	1,058,090		13,565			1,087,575		14,333
Southern California	2,725,230		29,729			2,809,390		26,713
Washington D.C.	4,169,317		35,522			4,282,317		44,607
Non-core – South Florida	1,109,699		16,297			1,135,553		14,335
Non-core – Denver	506,317		8,341			520,537		5,863
Non-core – other	322,281		6,115			333,398		4,743
Total same store	18,970,703		173,414			19,431,953		178,960

Non-same store/other (2) (3)
Boston	171,832		629			48,323		699
New York	364,475		(8		)	356,064		12
San Francisco	262,851		6			218,415		—
Seattle	453,111		457			335,086		918
Southern California	911,728		6,360			851,812		1,968
Washington D.C.	235,841		677			243,174		467
Non-core – South Florida	64,854		42			67,834		8
Other (3)	1,721,933		536			1,397,953		2,925
Total non-same store/other	4,186,625		8,699			3,518,661		6,997
Total	$	23,157,328	$	182,113		$	22,950,614	$	185,957


(1)	Same store primarily includes all properties acquired or completed and stabilized prior to January 1, 2014, less properties subsequently sold, which represented 96,286 apartment units.


(2)	Non-same store primarily includes properties acquired after January 1, 2014, plus any properties in lease-up and not stabilized as of January 1, 2014.


(3)	Other includes development, other corporate operations and capital expenditures for properties sold.

Note: Markets/Metro Areas included in the above Southern California and Non-core – other segments are as follows:

(a) Southern California – Los Angeles, Orange County and San Diego.

(b) Non-core – other – Inland Empire, CA, New England (excluding Boston) and Phoenix.