XML 22 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES        
Rental income $ 623,951 $ 605,856 $ 1,840,170 $ 1,816,960
Fee and asset management 171 218 532 3,351
Total revenues 624,122 606,074 1,840,702 1,820,311
EXPENSES        
Property and maintenance 104,721 104,216 306,645 309,688
Real estate taxes and insurance 84,087 81,343 253,318 238,954
Property management 20,861 19,517 64,702 64,003
General and administrative 12,567 12,395 40,366 47,408
Depreciation 184,100 179,230 542,964 528,242
Total expenses 406,336 396,701 1,207,995 1,188,295
Operating income 217,786 209,373 632,707 632,016
Interest and other income 3,945 5,509 5,708 65,092
Other expenses (1,028) (10,420) (3,160) (14,480)
Interest:        
Expense incurred, net (91,145) (86,352) (288,579) (386,316)
Amortization of deferred financing costs (2,064) (2,261) (6,447) (10,000)
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain on sales of real estate properties and land parcels and discontinued operations 127,494 115,849 340,229 286,312
Income and other tax (expense) benefit (228) (426) (710) (1,189)
(Loss) income from investments in unconsolidated entities (398) 7,750 (2,153) 5,846
Net gain on sales of real estate properties 17,328 90,036 141,761 3,870,871
Net gain on sales of land parcels   4,037 19,170 15,759
Income from continuing operations 144,196 217,246 498,297 4,177,599
Discontinued operations, net 0 246 0 124
Net income 144,196 217,492 498,297 4,177,723
Net (income) attributable to Noncontrolling Interests:        
Operating Partnership (5,166) (8,353) (17,931) (160,442)
Partially Owned Properties (801) (823) (2,354) (2,368)
Net income attributable to controlling interests 138,229 208,316 478,012 4,014,913
Preferred distributions (772) (773) (2,318) (2,318)
Net income available to Common Shares $ 137,457 $ 207,543 $ 475,694 $ 4,012,595
Earnings per share – basic:        
Income from continuing operations available to Common Shares $ 0.37 $ 0.57 $ 1.30 $ 11.00
Net income available to Common Shares $ 0.37 $ 0.57 $ 1.30 $ 11.00
Weighted average Common Shares outstanding 366,996 365,109 366,809 364,917
Earnings per share – diluted:        
Income from continuing operations available to Common Shares $ 0.37 $ 0.56 $ 1.29 $ 10.92
Net income available to Common Shares $ 0.37 $ 0.56 $ 1.29 $ 10.92
Weighted average Common Shares outstanding 382,945 382,373 382,640 382,284
Distributions declared per Common Share outstanding $ 0.50375 $ 3.50375 $ 1.51125 $ 12.51125