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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES        
Rental income $ 623,206 $ 622,433 $ 1,818,867 $ 1,958,270
EXPENSES        
Property and maintenance 116,461 113,065 341,261 333,333
Real estate taxes and insurance 96,909 95,273 297,780 288,043
Property management 23,772 20,196 74,357 71,513
General and administrative 13,041 10,859 43,102 37,212
Depreciation 215,397 200,605 616,032 619,003
Total expenses 465,580 439,998 1,372,532 1,349,104
Net gain (loss) on sales of real estate properties 363,928 (25) 587,623 352,218
Operating income 521,554 182,410 1,033,958 961,384
Interest and other income 973 535 25,293 4,006
Other expenses (3,456) (4,097) (10,908) (8,324)
Interest:        
Expense incurred, net (68,251) (80,874) (202,733) (248,349)
Amortization of deferred financing costs (2,048) (2,101) (6,172) (6,253)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 448,772 95,873 839,438 702,464
Income and other tax (expense) benefit (284) (262) (679) (502)
Income (loss) from investments in unconsolidated entities (1,156) (246) (3,028) (2,445)
Net gain (loss) on sales of land parcels     5  
Net income 447,332 95,365 835,736 699,517
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (14,847) (3,376) (27,903) (24,624)
Partially Owned Properties (534) (703) (1,957) (14,113)
Net income attributable to controlling interests 431,951 91,286 805,876 660,780
Preferred distributions (773) (773) (2,318) (2,318)
Net income available to Common Shares $ 431,178 $ 90,513 $ 803,558 $ 658,462
Earnings per share – basic:        
Net income available to Common Shares $ 1.15 $ 0.24 $ 2.15 $ 1.77
Weighted average Common Shares outstanding 374,308 371,869 373,474 371,749
Earnings per share – diluted:        
Net income available to Common Shares $ 1.15 $ 0.24 $ 2.14 $ 1.77
Weighted average Common Shares outstanding 388,374 385,652 387,642 385,973