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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES        
Rental income $ 717,309 $ 687,030 $ 1,422,397 $ 1,340,378
EXPENSES        
Property and maintenance 124,771 116,355 262,350 241,229
Real estate taxes and insurance 103,080 101,850 209,749 202,538
Property management 30,679 26,559 62,145 57,306
General and administrative 18,876 16,423 35,041 33,661
Depreciation 221,355 223,806 437,185 453,767
Total expenses 498,761 484,993 1,006,470 988,501
Net gain (loss) on sales of real estate properties (87) 107,897 100,122 107,795
Operating income 218,461 309,934 516,049 459,672
Interest and other income 2,131 596 3,669 4,124
Other expenses (6,564) (2,380) (15,559) (5,436)
Interest:        
Expense incurred, net (65,590) (71,889) (131,991) (144,681)
Amortization of deferred financing costs (2,017) (2,124) (3,996) (4,201)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 146,421 234,137 368,172 309,478
Income and other tax (expense) benefit (336) (291) (634) (573)
Income (loss) from investments in unconsolidated entities (1,223) (1,168) (2,605) (2,429)
Net income 144,862 232,678 364,933 306,476
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (4,554) (7,633) (11,613) (10,027)
Partially Owned Properties (1,105) (944) (2,082) (1,583)
Net income attributable to controlling interests 139,203 224,101 351,238 294,866
Preferred distributions (773) (773) (1,545) (1,545)
Net income available to Common Shares $ 138,430 $ 223,328 $ 349,693 $ 293,321
Earnings per share – basic:        
Net income available to Common Shares $ 0.37 $ 0.59 $ 0.92 $ 0.78
Weighted average Common Shares outstanding 378,642 375,769 378,492 375,640
Earnings per share – diluted:        
Net income available to Common Shares $ 0.37 $ 0.59 $ 0.92 $ 0.78
Weighted average Common Shares outstanding 391,187 389,363 391,063 389,463