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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES        
Rental income $ 598,059 $ 653,532 $ 1,195,661 $ 1,335,837
EXPENSES        
Property and maintenance 107,746 104,452 224,800 220,268
Real estate taxes and insurance 97,401 95,038 200,871 192,770
Property management 24,455 23,608 50,585 51,317
General and administrative 14,678 11,835 30,061 26,353
Depreciation 200,673 205,976 400,635 418,398
Total expenses 444,953 440,909 906,952 909,106
Net gain (loss) on sales of real estate properties 223,738 144,266 223,695 352,243
Operating income 376,844 356,889 512,404 778,974
Interest and other income 24,104 1,511 24,320 3,471
Other expenses (3,342) (1,694) (7,452) (4,227)
Interest:        
Expense incurred, net (67,124) (81,885) (134,482) (167,475)
Amortization of deferred financing costs (1,939) (2,111) (4,124) (4,152)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 328,543 272,710 390,666 606,591
Income and other tax (expense) benefit (242) (187) (395) (240)
Income (loss) from investments in unconsolidated entities (261) (1,042) (1,872) (2,199)
Net gain (loss) on sales of land parcels     5  
Net income 328,040 271,481 388,404 604,152
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (10,913) (9,713) (13,056) (21,248)
Partially Owned Properties (741) (880) (1,423) (13,410)
Net income attributable to controlling interests 316,386 260,888 373,925 569,494
Preferred distributions (772) (772) (1,545) (1,545)
Net income available to Common Shares $ 315,614 $ 260,116 $ 372,380 $ 567,949
Earnings per share – basic:        
Net income available to Common Shares $ 0.84 $ 0.70 $ 1.00 $ 1.53
Weighted average Common Shares outstanding 373,812 371,795 373,050 371,689
Earnings per share – diluted:        
Net income available to Common Shares $ 0.84 $ 0.70 $ 1.00 $ 1.53
Weighted average Common Shares outstanding 387,820 385,913 387,367 386,272