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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES        
Rental income $ 652,677 $ 623,951 $ 1,925,128 $ 1,840,170
Total revenues 652,867 624,122 1,925,691 1,840,702
EXPENSES        
Property and maintenance 110,541 104,721 322,487 306,645
Real estate taxes and insurance 87,388 84,087 268,784 253,318
Property management 22,247 20,861 69,175 64,702
General and administrative 12,640 12,567 41,420 40,366
Depreciation 194,618 184,100 583,869 542,964
Impairment 702   702  
Total expenses 428,136 406,336 1,286,437 1,207,995
Operating income 224,731 217,786 639,254 632,707
Interest and other income 7,864 3,945 14,860 5,708
Other expenses (7,661) (1,028) (14,871) (3,160)
Interest:        
Expense incurred, net (111,219) (91,145) (321,454) (288,579)
Amortization of deferred financing costs (3,276) (2,064) (9,054) (6,447)
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 110,439 127,494 308,735 340,229
Income and other tax (expense) benefit (280) (228) (767) (710)
Income (loss) from investments in unconsolidated entities (985) (398) (2,993) (2,153)
Net gain (loss) on sales of real estate properties 114,672 17,328 256,834 141,761
Net gain (loss) on sales of land parcels     995 19,170
Net income 223,846 144,196 562,804 498,297
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (8,159) (5,166) (20,517) (17,931)
Partially Owned Properties (750) (801) (1,939) (2,354)
Net income attributable to controlling interests 214,937 138,229 540,348 478,012
Preferred distributions (773) (772) (2,318) (2,318)
Net income available to Common Shares $ 214,164 $ 137,457 $ 538,030 $ 475,694
Earnings per share – basic:        
Net income available to Common Shares $ 0.58 $ 0.37 $ 1.46 $ 1.30
Weighted average Common Shares outstanding 368,028 366,996 367,920 366,809
Earnings per share – diluted:        
Net income available to Common Shares $ 0.58 $ 0.37 $ 1.46 $ 1.29
Weighted average Common Shares outstanding 383,884 382,945 383,433 382,640
Distributions declared per Common Share outstanding $ 0.54 $ 0.50375 $ 1.62 $ 1.51125
Fee and asset management        
REVENUES        
Fee and asset management $ 190 $ 171 $ 563 $ 532