Reportable Segments (Tables)

9 Months Ended

Sep. 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 nine months and quarters ended September 30, 2021 and 2020, respectively (amounts in thousands):

	Nine Months Ended September 30,						Quarter Ended September 30,
	2021			2020			2021			2020
Rental income	$	1,818,867		$	1,958,270		$	623,206		$	622,433
Property and maintenance expense		(341,261	)		(333,333	)		(116,461	)		(113,065	)
Real estate taxes and insurance expense		(297,780	)		(288,043	)		(96,909	)		(95,273	)
Total operating expenses		(639,041	)		(621,376	)		(213,370	)		(208,338	)
Net operating income	$	1,179,826		$	1,336,894		$	409,836		$	414,095

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, 2021 and 2020, respectively, as well as total assets and capital expenditures at September 30, 2021 (amounts in thousands):

	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	337,153	$	109,997	$	227,156	$	346,599	$	108,594	$	238,005
Orange County		80,773		18,937		61,836		79,241		18,539		60,702
San Diego		58,211		13,920		44,291		56,001		13,684		42,317
Subtotal - Southern California		476,137		142,854		333,283		481,841		140,817		341,024
San Francisco		302,043		93,983		208,060		346,089		90,849		255,240
Washington D.C.		298,165		99,369		198,796		311,119		95,799		215,320
New York		299,320		152,228		147,092		324,866		148,145		176,721
Seattle		181,908		58,616		123,292		195,198		55,845		139,353
Boston		171,871		57,041		114,830		182,502		53,727		128,775
Denver		28,732		8,614		20,118		28,584		8,320		20,264
Total same store		1,758,176		612,705		1,145,471		1,870,199		593,502		1,276,697
Non-same store/other (2) (3)
Non-same store		28,581		10,916		17,665		11,440		2,534		8,906
Other (3)		32,110		15,420		16,690		76,631		25,340		51,291
Total non-same store/other		60,691		26,336		34,355		88,071		27,874		60,197
Totals	$	1,818,867	$	639,041	$	1,179,826	$	1,958,270	$	621,376	$	1,336,894

(1) For the nine months ended September 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 75,288 apartment units.

(2) For the nine months ended September 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 September 30, 2021						Quarter Ended September 30, 2020
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	117,542	$	36,929	$	80,613	$	112,201	$	36,783	$	75,418
Orange County		28,264		6,480		21,784		26,229		6,457		19,772
San Diego		20,282		4,735		15,547		18,637		4,652		13,985
Subtotal - Southern California		166,088		48,144		117,944		157,067		47,892		109,175
San Francisco		102,166		31,542		70,624		109,908		30,913		78,995
Washington D.C.		100,019		34,397		65,622		103,160		32,979		70,181
New York		103,015		49,939		53,076		98,333		49,915		48,418
Seattle		61,888		20,117		41,771		62,748		18,972		43,776
Boston		58,864		19,504		39,360		59,527		18,601		40,926
Denver		9,812		2,940		6,872		9,509		2,892		6,617
Total same store		601,852		206,583		395,269		600,252		202,164		398,088
Non-same store/other (2) (3)
Non-same store		16,563		6,777		9,786		2,481		539		1,942
Other (3)		4,791		10		4,781		19,700		5,635		14,065
Total non-same store/other		21,354		6,787		14,567		22,181		6,174		16,007
Totals	$	623,206	$	213,370	$	409,836	$	622,433	$	208,338	$	414,095

(1) For the quarters ended September 30, 2021 and 2020, same store primarily includes all properties acquired or completed that were stabilized prior to July 1, 2020, less properties subsequently sold, which represented 75,509 apartment units.

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

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

	Nine Months Ended September 30, 2021
	Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	2,926,617	$	13,959
Orange County		375,365		4,124
San Diego		234,733		2,060
Subtotal - Southern California		3,536,715		20,143
San Francisco		3,264,017		15,853
Washington D.C.		3,270,172		20,392
New York		3,902,715		22,641
Seattle		1,975,574		10,234
Boston		1,710,489		15,766
Denver		496,969		1,101
Total same store		18,156,651		106,130
Non-same store/other (2) (3)
Non-same store		1,484,091		659
Other (3)		1,022,273		917
Total non-same store/other		2,506,364		1,576
Totals	$	20,663,015	$	107,706

(1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2020, less properties subsequently sold, which represented 75,288 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.