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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Rental income $ 622,433 $ 685,120 $ 1,958,270 $ 2,016,796
EXPENSES        
Property and maintenance 113,065 114,966 333,333 338,497
Real estate taxes and insurance 95,273 87,546 288,043 270,434
Property management 20,196 21,940 71,513 72,705
General and administrative 10,859 11,417 37,212 41,127
Depreciation 200,605 211,478 619,003 616,201
Total expenses 439,998 447,347 1,349,104 1,338,964
Net gain (loss) on sales of real estate properties (25) 130,565 352,218 269,400
Operating income 182,410 368,338 961,384 947,232
Interest and other income 535 656 4,006 2,581
Other expenses (4,097) (2,813) (8,324) (11,205)
Interest:        
Expense incurred, net (80,874) (85,936) (248,349) (289,776)
Amortization of deferred financing costs (2,101) (2,881) (6,253) (8,664)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 95,873 277,364 702,464 640,168
Income and other tax (expense) benefit (262) (265) (502) (749)
Income (loss) from investments in unconsolidated entities (246) (1,152) (2,445) 66,906
Net gain (loss) on sales of land parcels   1,899   2,077
Net income 95,365 277,846 699,517 708,402
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (3,376) (9,910) (24,624) (25,339)
Partially Owned Properties (703) (830) (14,113) (2,450)
Net income attributable to controlling interests 91,286 267,106 660,780 680,613
Preferred distributions (773) (773) (2,318) (2,318)
Net income available to Common Shares $ 90,513 $ 266,333 $ 658,462 $ 678,295
Earnings per share – basic:        
Net income available to Common Shares $ 0.24 $ 0.72 $ 1.77 $ 1.83
Weighted average Common Shares outstanding 371,869 370,768 371,749 370,227
Earnings per share – diluted:        
Net income available to Common Shares $ 0.24 $ 0.71 $ 1.77 $ 1.82
Weighted average Common Shares outstanding 385,652 386,896 385,973 386,177