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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
REVENUES    
Rental income $ 632,831 $ 603,920
Fee and asset management 185 180
Total revenues 633,016 604,100
EXPENSES    
Property and maintenance 108,202 102,608
Real estate taxes and insurance 91,914 81,728
Property management 23,444 22,252
General and administrative 16,278 14,173
Depreciation 196,309 178,968
Total expenses 436,147 399,729
Operating income 196,869 204,371
Interest and other income 5,880 601
Other expenses (3,441) (1,090)
Interest:    
Expense incurred, net (116,104) (106,210)
Amortization of deferred financing costs (3,679) (2,296)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of real estate properties and land parcels 79,525 95,376
Income and other tax (expense) benefit (213) (262)
Income (loss) from investments in unconsolidated entities (977) (1,073)
Net gain (loss) on sales of real estate properties 142,213 36,707
Net gain (loss) on sales of land parcels   19,193
Net income 220,548 149,941
Net (income) loss attributable to Noncontrolling Interests:    
Operating Partnership (8,059) (5,411)
Partially Owned Properties (680) (788)
Net income attributable to controlling interests 211,809 143,742
Preferred distributions (773) (773)
Net income available to Common Shares $ 211,036 $ 142,969
Earnings per share – basic:    
Net income available to Common Shares $ 0.57 $ 0.39
Weighted average Common Shares outstanding 367,800 366,605
Earnings per share – diluted:    
Net income available to Common Shares $ 0.57 $ 0.39
Weighted average Common Shares outstanding 383,018 382,280
Distributions declared per Common Share outstanding $ 0.54 $ 0.50375