Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

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, 2020 and 2019, respectively (amounts in thousands):

	Nine Months Ended September 30,						Quarter Ended September 30,
	2020			2019			2020			2019
Rental income	$	1,958,270		$	2,016,796		$	622,433		$	685,120
Property and maintenance expense		(333,333	)		(338,497	)		(113,065	)		(114,966	)
Real estate taxes and insurance expense		(288,043	)		(270,434	)		(95,273	)		(87,546	)
Total operating expenses		(621,376	)		(608,931	)		(208,338	)		(202,512	)
Net operating income	$	1,336,894		$	1,407,865		$	414,095		$	482,608

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, 2020 and 2019, respectively, as well as total assets and capital expenditures at September 30, 2020 (amounts in thousands):

	Nine Months Ended September 30, 2020						Nine Months Ended September 30, 2019
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	355,122	$	108,953	$	246,169	$	363,258	$	108,606	$	254,652
Orange County		79,241		18,702		60,539		78,522		18,493		60,029
San Diego		71,430		18,776		52,654		71,088		18,595		52,493
Subtotal - Southern California		505,793		146,431		359,362		512,868		145,694		367,174
San Francisco		346,766		89,557		257,209		354,142		87,117		267,025
Washington D.C.		294,029		90,974		203,055		295,107		90,124		204,983
New York		325,920		148,306		177,614		348,190		144,197		203,993
Seattle		186,030		54,125		131,905		188,093		51,884		136,209
Boston		182,502		53,603		128,899		188,710		53,478		135,232
Denver		13,343		3,711		9,632		13,710		3,576		10,134
Total same store		1,854,383		586,707		1,267,676		1,900,820		576,070		1,324,750
Non-same store/other (2) (3)
Non-same store		87,404		27,122		60,282		33,683		10,351		23,332
Other (3)		16,483		7,547		8,936		82,293		22,510		59,783
Total non-same store/other		103,887		34,669		69,218		115,976		32,861		83,115
Totals	$	1,958,270	$	621,376	$	1,336,894	$	2,016,796	$	608,931	$	1,407,865

(1) For the nine months ended September 30, 2020 and 2019, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2019, less properties subsequently sold, which represented 74,264 apartment units.

(2) For the nine months ended September 30, 2020 and 2019, non-same store primarily includes properties acquired after January 1, 2019, plus any properties in lease-up and not stabilized as of January 1, 2019.

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

	Quarter Ended September 30, 2020							Quarter Ended September 30, 2019
	Rental Income		Operating Expenses			NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	115,208	$	37,023		$	78,185	$	122,506	$	36,461	$	86,045
Orange County		26,229		6,535			19,694		26,635		6,351		20,284
San Diego		23,581		6,358			17,223		24,064		6,468		17,596
Subtotal - Southern California		165,018		49,916			115,102		173,205		49,280		123,925
San Francisco		113,246		31,349			81,897		122,706		30,453		92,253
Washington D.C.		99,569		32,253			67,316		101,771		31,347		70,424
New York		100,076		50,179			49,897		118,803		48,614		70,189
Seattle		60,216		19,073			41,143		65,370		17,569		47,801
Boston		58,830		18,461			40,369		64,039		17,840		46,199
Denver		6,142		1,927			4,215		6,436		1,760		4,676
Total same store		603,097		203,158			399,939		652,330		196,863		455,467
Non-same store/other (2) (3)
Non-same store		19,236		6,136			13,100		9,538		2,856		6,682
Other (3)		100		(956	)		1,056		23,252		2,793		20,459
Total non-same store/other		19,336		5,180			14,156		32,790		5,649		27,141
Totals	$	622,433	$	208,338		$	414,095	$	685,120	$	202,512	$	482,608

(1) For the quarters ended September 30, 2020 and 2019, same store primarily includes all properties acquired or completed that were stabilized prior to July 1, 2019, less properties subsequently sold, which represented 75,596 apartment units.

(2) For the quarters ended September 30, 2020 and 2019, non-same store primarily includes properties acquired after July 1, 2019, plus any properties in lease-up and not stabilized as of July 1, 2019.

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

	Nine Months Ended September 30, 2020
	Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	3,034,765	$	17,008
Orange County		392,632		5,056
San Diego		377,663		2,834
Subtotal - Southern California		3,805,060		24,898
San Francisco		3,259,452		11,789
Washington D.C.		3,092,477		15,890
New York		3,948,417		16,571
Seattle		1,818,213		7,010
Boston		1,774,255		13,137
Denver		249,306		512
Total same store		17,947,180		89,807
Non-same store/other (2) (3)
Non-same store		1,679,594		1,811
Other (3)		997,204		505
Total non-same store/other		2,676,798		2,316
Totals	$	20,623,978	$	92,123

(1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2019, less properties subsequently sold, which represented 74,264 apartment units.

(2) Non-same store primarily includes properties acquired after January 1, 2019, plus any properties in lease-up and not stabilized as of January 1, 2019.

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