Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2018

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 for the nine months and quarters ended September 30, 2018 and 2017, respectively (amounts in thousands):

	Nine Months Ended September 30,						Quarter Ended September 30,
	2018			2017			2018			2017
Rental income	$	1,925,128		$	1,840,170		$	652,677		$	623,951
Property and maintenance expense		(322,487	)		(306,645	)		(110,541	)		(104,721	)
Real estate taxes and insurance expense		(268,784	)		(253,318	)		(87,388	)		(84,087	)
Total operating expenses		(591,271	)		(559,963	)		(197,929	)		(188,808	)
Net operating income	$	1,333,857		$	1,280,207		$	454,748		$	435,143

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 for the nine months and quarters ended September 30, 2018 and 2017, respectively, as well as total assets and capital expenditures at September 30, 2018 (amounts in thousands):

	Nine Months Ended September 30, 2018						Nine Months Ended September 30, 2017
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	310,972	$	89,211	$	221,761	$	300,702	$	85,972	$	214,730
Orange County		68,513		16,706		51,807		66,082		16,330		49,752
San Diego		68,640		17,984		50,656		66,052		17,415		48,637
Subtotal - Southern California		448,125		123,901		324,224		432,836		119,717		313,119

San Francisco		331,067		80,377		250,690		321,894		81,942		239,952
Washington D.C.		325,480		101,620		223,860		322,310		98,046		224,264
New York		343,239		135,700		207,539		341,295		128,076		213,219
Boston		171,042		47,666		123,376		167,010		45,871		121,139
Seattle		147,311		41,762		105,549		142,564		39,686		102,878
Other Markets		1,453		506		947		1,384		498		886
Total same store		1,767,717		531,532		1,236,185		1,729,293		513,836		1,215,457

Non-same store/other (2) (3)
Non-same store		134,308		45,997		88,311		60,446		21,096		39,350
Other (3)		23,103		13,742		9,361		50,431		25,031		25,400
Total non-same store/other		157,411		59,739		97,672		110,877		46,127		64,750

Totals	$	1,925,128	$	591,271	$	1,333,857	$	1,840,170	$	559,963	$	1,280,207

(1)	For the nine months ended September 30, 2018 and 2017, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2017, less properties subsequently sold, which represented 71,721 apartment units.

(2)	For the nine months ended September 30, 2018 and 2017, non-same store primarily includes properties acquired after January 1, 2017, plus any properties in lease-up and not stabilized as of January 1, 2017.

(3)	Other includes development, other corporate operations and operations prior to disposition for properties sold.

	Quarter Ended September 30, 2018						Quarter Ended September 30, 2017
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	108,050	$	30,848	$	77,202	$	104,190	$	29,470	$	74,720
Orange County		23,182		5,615		17,567		22,427		5,491		16,936
San Diego		23,215		6,233		16,982		22,432		5,881		16,551
Subtotal - Southern California		154,447		42,696		111,751		149,049		40,842		108,207

San Francisco		116,937		29,271		87,666		113,154		29,527		83,627
Washington D.C.		109,637		34,722		74,915		108,764		33,474		75,290
New York		115,757		45,156		70,601		114,799		42,620		72,179
Boston		57,531		16,073		41,458		56,022		15,726		40,296
Seattle		50,618		14,137		36,481		49,467		13,449		36,018
Other Markets		485		165		320		459		158		301
Total same store		605,412		182,220		423,192		591,714		175,796		415,918

Non-same store/other (2) (3)
Non-same store		42,702		13,605		29,097		18,252		6,870		11,382
Other (3)		4,563		2,104		2,459		13,985		6,142		7,843
Total non-same store/other		47,265		15,709		31,556		32,237		13,012		19,225

Totals	$	652,677	$	197,929	$	454,748	$	623,951	$	188,808	$	435,143

(1)	For the quarters ended September 30, 2018 and 2017, same store primarily includes all properties acquired or completed that were stabilized prior to July 1, 2017, less properties subsequently sold, which represented 72,561 apartment units.

(2)	For the quarters ended September 30, 2018 and 2017, non-same store primarily includes properties acquired after July 1, 2017, plus any properties in lease-up and not stabilized as of July 1, 2017.

(3)	Other includes development, other corporate operations and operations prior to disposition for properties sold.

	Nine Months Ended September 30, 2018
	Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	2,631,459	$	21,438
Orange County		321,551		6,327
San Diego		410,450		3,665
Subtotal - Southern California		3,363,460		31,430

San Francisco		2,989,059		34,617
Washington D.C.		3,734,007		21,722
New York		4,108,581		17,217
Boston		1,599,983		16,477
Seattle		1,287,733		12,085
Other Markets		12,820		135
Total same store		17,095,643		133,683

Non-same store/other (2) (3)
Non-same store		2,884,686		4,171
Other (3)		561,821		265
Total non-same store/other		3,446,507		4,436

Totals	$	20,542,150	$	138,119

(1)	Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2017, less properties subsequently sold, which represented 71,721 apartment units.

(2)	Non-same store primarily includes properties acquired after January 1, 2017, plus any properties in lease-up and not stabilized as of January 1, 2017.

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