Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2021

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 six months and quarters ended June 30, 2021 and 2020, respectively (amounts in thousands):

	Six Months Ended June 30,						Quarter Ended June 30,
	2021			2020			2021			2020
Rental income	$	1,195,661		$	1,335,837		$	598,059		$	653,532
Property and maintenance expense		(224,800	)		(220,268	)		(107,746	)		(104,452	)
Real estate taxes and insurance expense		(200,871	)		(192,770	)		(97,401	)		(95,038	)
Total operating expenses		(425,671	)		(413,038	)		(205,147	)		(199,490	)
Net operating income	$	769,990		$	922,799		$	392,912		$	454,042

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 six months and quarters ended June 30, 2021 and 2020, respectively, as well as total assets and capital expenditures at June 30, 2021 (amounts in thousands):

	Six Months Ended June 30, 2021							Six Months Ended June 30, 2020
	Rental Income		Operating Expenses		NOI			Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	226,592	$	74,889	$	151,703		$	241,570	$	73,626	$	167,944
Orange County		52,510		12,458		40,052			53,013		12,083		40,930
San Diego		37,928		9,185		28,743			37,365		9,033		28,332
Subtotal - Southern California		317,030		96,532		220,498			331,948		94,742		237,206
San Francisco		209,617		65,034		144,583			246,209		62,389		183,820
Washington D.C.		198,147		64,973		133,174			207,958		62,819		145,139
New York		196,304		102,288		94,016			226,532		98,230		128,302
Seattle		120,831		38,720		82,111			133,338		37,070		96,268
Boston		113,714		37,719		75,995			123,673		35,275		88,398
Denver		18,920		5,674		13,246			19,074		5,427		13,647
Total same store		1,174,563		410,940		763,623			1,288,732		395,952		892,780
Non-same store/other (2) (3)
Non-same store		10,499		3,506		6,993			7,374		1,611		5,763
Other (3)		10,599		11,225		(626	)		39,731		15,475		24,256
Total non-same store/other		21,098		14,731		6,367			47,105		17,086		30,019
Totals	$	1,195,661	$	425,671	$	769,990		$	1,335,837	$	413,038	$	922,799

(1) For the six months ended June 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 76,335 apartment units.

(2) For the six months ended June 30, 2021 and 2020, non-same store primarily includes properties acquired after January 1, 2020, plus any properties in lease-up and not stabilized as of January 1, 2020.

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

	Quarter Ended June 30, 2021						Quarter Ended June 30, 2020
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	113,639	$	36,769	$	76,870	$	118,686	$	35,841	$	82,845
Orange County		26,669		6,122		20,547		26,318		5,910		20,408
San Diego		19,188		4,545		14,643		18,587		4,447		14,140
Subtotal - Southern California		159,496		47,436		112,060		163,591		46,198		117,393
San Francisco		104,285		31,759		72,526		121,106		30,593		90,513
Washington D.C.		99,030		31,651		67,379		103,241		30,717		72,524
New York		98,271		49,834		48,437		110,230		47,908		62,322
Seattle		60,574		19,372		41,202		66,096		18,778		47,318
Boston		57,777		18,512		39,265		60,711		17,087		43,624
Denver		9,575		2,643		6,932		9,418		2,639		6,779
Total same store		589,008		201,207		387,801		634,393		193,920		440,473
Non-same store/other (2) (3)
Non-same store		4,589		1,755		2,834		2,190		298		1,892
Other (3)		4,462		2,185		2,277		16,949		5,272		11,677
Total non-same store/other		9,051		3,940		5,111		19,139		5,570		13,569
Totals	$	598,059	$	205,147	$	392,912	$	653,532	$	199,490	$	454,042

(1) For the quarters ended June 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to April 1, 2020, less properties subsequently sold, which represented 76,556 apartment units.

(2) For the quarters ended June 30, 2021 and 2020, non-same store primarily includes properties acquired after April 1, 2020, plus any properties in lease-up and not stabilized as of April 1, 2020.

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

	Six Months Ended June 30, 2021
	Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	3,052,015	$	8,232
Orange County		380,069		2,372
San Diego		237,670		1,427
Subtotal - Southern California		3,669,754		12,031
San Francisco		3,442,539		10,443
Washington D.C.		3,291,944		13,108
New York		3,951,560		13,956
Seattle		1,987,663		6,723
Boston		1,726,284		9,067
Denver		502,062		615
Total same store		18,571,806		65,943
Non-same store/other (2) (3)
Non-same store		663,201		288
Other (3)		1,229,339		212
Total non-same store/other		1,892,540		500
Totals	$	20,464,346	$	66,443

(1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 76,335 apartment units.

(2) Non-same store primarily includes properties acquired after January 1, 2020, plus any properties in lease-up and not stabilized as of January 1, 2020.

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