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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES      
Rental income $ 2,735,180 $ 2,463,997 $ 2,571,705
EXPENSES      
Property and maintenance 483,865 453,532 440,998
Real estate taxes and insurance 388,412 397,105 381,562
Property management 110,304 98,155 93,825
General and administrative 58,710 56,506 48,305
Depreciation 882,168 838,272 820,832
Total expenses 1,923,459 1,843,570 1,785,522
Net gain (loss) on sales of real estate properties 304,325 1,072,183 531,807
Impairment   (16,769)  
Operating income 1,116,046 1,675,841 1,317,990
Interest and other income 2,193 25,666 5,935
Other expenses (13,664) (19,275) (17,510)
Interest:      
Expense incurred, net (282,920) (272,473) (365,073)
Amortization of deferred financing costs (8,729) (8,737) (8,939)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 812,926 1,401,022 932,403
Income and other tax (expense) benefit (900) (915) (852)
Income (loss) from investments in unconsolidated entities (5,031) (3,398) (3,284)
Net gain (loss) on sales of land parcels   5 34,234
Net income 806,995 1,396,714 962,501
Net (income) loss attributable to Noncontrolling Interests:      
Operating Partnership (26,310) (45,900) (34,010)
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties (3,774) (17,964) (14,855)
Net income attributable to controlling interests 776,911 1,332,850 913,636
Preferred distributions (3,090) (3,090) (3,090)
Net income available to Common Shares $ 773,821 $ 1,329,760 $ 910,546
Earnings per share – basic:      
Net income available to Common Shares $ 2.06 $ 3.56 $ 2.45
Weighted average Common Shares outstanding 376,209 373,833 371,791
Earnings per share – diluted:      
Net income available to Common Shares $ 2.05 $ 3.54 $ 2.45
Weighted average Common Shares outstanding 389,450 388,089 385,874