Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Reconciliation of NOI from Rental Real Estate Specific to Continuing Operations

The following table presents a reconciliation of NOI from our rental real estate specific to continuing operations for the nine months and quarters ended September 30, 2017 and 2016, respectively (amounts in thousands):

	Nine Months Ended September 30,						Quarter Ended September 30,
	2017			2016			2017			2016
Rental income	$	1,840,170		$	1,816,960		$	623,951		$	605,856
Property and maintenance expense		(306,645	)		(309,688	)		(104,721	)		(104,216	)
Real estate taxes and insurance expense		(253,318	)		(238,954	)		(84,087	)		(81,343	)
Total operating expenses		(559,963	)		(548,642	)		(188,808	)		(185,559	)
Net operating income	$	1,280,207		$	1,268,318		$	435,143		$	420,297

Schedule of NOI for Each Segment from Rental Real Estate Specific to Continuing Operations

The following tables present NOI for each segment from our rental real estate specific to continuing operations for the nine months and quarters ended September 30, 2017 and 2016, respectively, as well as total assets and capital expenditures at September 30, 2017 (amounts in thousands):

	Nine Months Ended September 30, 2017							Nine Months Ended September 30, 2016
	Rental Income		Operating Expenses		NOI			Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	296,345	$	83,927	$	212,418		$	285,463	$	83,459	$	202,004
Orange County		66,081		16,355		49,726			63,005		15,529		47,476
San Diego		66,052		17,386		48,666			63,171		16,884		46,287
Subtotal - Southern California		428,478		117,668		310,810			411,639		115,872		295,767

Washington DC		322,307		98,043		224,264			317,879		95,187		222,692
New York		345,656		126,226		219,430			345,434		120,390		225,044
San Francisco		283,654		69,053		214,601			277,666		68,246		209,420
Boston		170,545		47,538		123,007			168,118		47,308		120,810
Seattle		133,279		37,205		96,074			125,910		34,979		90,931
Other Markets		1,384		499		885			1,342		428		914
Total same store		1,685,303		496,232		1,189,071			1,647,988		482,410		1,165,578

Non-same store/other (2) (3)
Non-same store		144,975		53,367		91,608			78,287		29,173		49,114
Other (3)		9,892		10,364		(472	)		90,685		37,059		53,626
Total non-same store/other		154,867		63,731		91,136			168,972		66,232		102,740

Totals	$	1,840,170	$	559,963	$	1,280,207		$	1,816,960	$	548,642	$	1,268,318

(1)	For the nine months ended September 30, 2017 and 2016, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2016, less properties subsequently sold, which represented 70,285 apartment units.

(2)	For the nine months ended September 30, 2017 and 2016, non-same store primarily includes properties acquired after January 1, 2016, plus any properties in lease-up and not stabilized as of January 1, 2016.

(3)	Other includes development, other corporate operations and operations prior to sale for properties sold from 2014 through 2017 that do not meet the discontinued operations criteria.

	Quarter Ended September 30, 2017							Quarter Ended September 30, 2016
	Rental Income		Operating Expenses		NOI			Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	102,566	$	27,768	$	74,798		$	98,542	$	29,362	$	69,180
Orange County		22,427		5,500		16,927			21,455		5,362		16,093
San Diego		22,432		5,867		16,565			21,516		5,740		15,776
Subtotal - Southern California		147,425		39,135		108,290			141,513		40,464		101,049

New York		125,351		46,219		79,132			124,709		44,223		80,486
Washington DC		108,763		33,459		75,304			107,340		32,817		74,523
San Francisco		98,805		24,875		73,930			97,259		24,487		72,772
Boston		57,071		16,351		40,720			56,368		16,399		39,969
Seattle		49,268		13,647		35,621			46,948		12,493		34,455
Other Markets		459		158		301			457		136		321
Total same store		587,142		173,844		413,298			574,594		171,019		403,575

Non-same store/other (2) (3)
Non-same store		33,974		10,371		23,603			14,128		6,120		8,008
Other (3)		2,835		4,593		(1,758	)		17,134		8,420		8,714
Total non-same store/other		36,809		14,964		21,845			31,262		14,540		16,722

Totals	$	623,951	$	188,808	$	435,143		$	605,856	$	185,559	$	420,297

(1)	For the quarters ended September 30, 2017 and 2016, same store primarily includes all properties acquired or completed that were stabilized prior to July 1, 2016, less properties subsequently sold, which represented 72,049 apartment units.

(2)	For the quarters ended September 30, 2017 and 2016, non-same store primarily includes properties acquired after July 1, 2016, plus any properties in lease-up and not stabilized as of July 1, 2016.

(3)	Other includes development, other corporate operations and operations prior to sale for properties sold from 2014 through 2017 that do not meet the discontinued operations criteria.

	Nine Months Ended September 30,
	Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	2,620,672	$	18,952
Orange County		330,580		6,671
San Diego		425,241		3,776
Subtotal - Southern California		3,376,493		29,399

Washington DC		3,836,992		26,308
New York		4,181,890		23,547
San Francisco		2,480,069		25,896
Boston		1,670,467		18,906
Seattle		1,172,356		15,499
Other Markets		12,778		83
Total same store		16,731,045		139,638

Non-same store/other (2) (3)
Non-same store		3,080,697		3,206
Other (3)		886,091		414
Total non-same store/other		3,966,788		3,620

Totals	$	20,697,833	$	143,258

(1)	Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2016, less properties subsequently sold, which represented 70,285 apartment units.

(2)	Non-same store primarily includes properties acquired after January 1, 2016, plus any properties in lease-up and not stabilized as of January 1, 2016.

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