XML 66 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Rental income $ 2,700,691 $ 2,577,681 $ 2,470,689
Fee and asset management $ 384 $ 753 $ 717
Type of Revenue [Extensible List] us-gaap:ManagementServiceMember us-gaap:ManagementServiceMember us-gaap:ManagementServiceMember
Total revenues $ 2,701,075 $ 2,578,434 $ 2,471,406
EXPENSES      
Property and maintenance 446,845 429,335 405,281
Real estate taxes and insurance 366,139 357,814 335,495
Property management 95,344 92,485 85,493
General and administrative 52,757 53,813 52,224
Depreciation 831,083 785,725 743,749
Total expenses 1,792,168 1,719,172 1,622,242
Net gain (loss) on sales of real estate properties 447,637 256,810 157,057
Impairment   (702) (1,693)
Operating income 1,356,544 1,115,370 1,004,528
Interest and other income 2,817 15,317 6,136
Other expenses (18,177) (17,267) (5,186)
Interest:      
Expense incurred, net (390,076) (413,360) (383,890)
Amortization of deferred financing costs (11,670) (11,310) (8,526)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 939,438 688,750 613,062
Income and other tax (expense) benefit 2,281 (878) (478)
Income (loss) from investments in unconsolidated entities 65,945 (3,667) (3,370)
Net gain (loss) on sales of land parcels 2,044 987 19,167
Net income 1,009,708 685,192 628,381
Net (income) loss attributable to Noncontrolling Interests:      
Operating Partnership (36,034) (24,939) (22,604)
Partially Owned Properties (3,297) (2,718) (2,323)
Net income attributable to controlling interests 970,377 657,535 603,454
Preferred distributions (3,090) (3,090) (3,091)
Net income available to Common Shares $ 967,287 $ 654,445 $ 600,363
Earnings per share – basic:      
Net income available to Common Shares $ 2.61 $ 1.78 $ 1.64
Weighted average Common Shares outstanding 370,461 368,052 366,968
Earnings per share – diluted:      
Net income available to Common Shares $ 2.60 $ 1.77 $ 1.63
Weighted average Common Shares outstanding 386,333 383,695 382,678