Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022 and 2021, respectively (amounts in thousands):

	Six Months Ended June 30,						Quarter Ended June 30,
	2022			2021			2022			2021
Rental income	$	1,340,378		$	1,195,661		$	687,030		$	598,059
Property and maintenance expense		(241,229	)		(224,800	)		(116,355	)		(107,746	)
Real estate taxes and insurance expense		(202,538	)		(200,871	)		(101,850	)		(97,401	)
Total operating expenses		(443,767	)		(425,671	)		(218,205	)		(205,147	)
Net operating income	$	896,611		$	769,990		$	468,825		$	392,912

Schedule of NOI from Our Rental Real Estate for Each Segment Specific to Continuing Operations

The following tables present NOI from our rental real estate for each segment for the six months and quarters ended June 30, 2022 and 2021, respectively, as well as total assets and capital expenditures at June 30, 2022 (amounts in thousands):

	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	241,119	$	72,466	$	168,653	$	213,291	$	70,202	$	143,089
Orange County		60,018		12,805		47,213		52,510		12,411		40,099
San Diego		42,410		9,555		32,855		37,928		9,176		28,752
Subtotal - Southern California		343,547		94,826		248,721		303,729		91,789		211,940
San Francisco		206,018		61,588		144,430		188,762		59,386		129,376
Washington D.C.		203,494		68,073		135,421		194,911		64,309		130,602
New York		218,855		99,705		119,150		188,676		98,235		90,441
Seattle		137,255		38,837		98,418		126,450		40,434		86,016
Boston		127,660		39,881		87,779		115,089		38,077		77,012
Denver		21,404		5,939		15,465		18,920		5,532		13,388
Total same store		1,258,233		408,849		849,384		1,136,537		397,762		738,775
Non-same store/other
Non-same store (2)		77,019		31,614		45,405		5,186		2,299		2,887
Other (3)		5,126		3,304		1,822		53,938		25,610		28,328
Total non-same store/other		82,145		34,918		47,227		59,124		27,909		31,215
Totals	$	1,340,378	$	443,767	$	896,611	$	1,195,661	$	425,671	$	769,990

(1) For the six months ended June 30, 2022 and 2021, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2021, less properties subsequently sold, which represented 74,057 apartment units.

(2) For the six months ended June 30, 2022 and 2021, non-same store primarily includes properties acquired after January 1, 2021, plus any properties in lease-up and not stabilized as of January 1, 2021.

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

	Quarter Ended June 30, 2022							Quarter Ended June 30, 2021
	Rental Income		Operating Expenses		NOI			Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	125,767	$	35,692	$	90,075		$	106,873	$	34,509	$	72,364
Orange County		31,252		6,381		24,871			26,669		6,096		20,573
San Diego		21,470		4,626		16,844			19,188		4,543		14,645
Subtotal - Southern California		178,489		46,699		131,790			152,730		45,148		107,582
San Francisco		105,402		30,050		75,352			93,784		28,982		64,802
Washington D.C.		103,022		34,172		68,850			97,423		31,701		65,722
New York		112,865		48,559		64,306			94,473		48,258		46,215
Seattle		70,128		19,512		50,616			62,603		19,999		42,604
Boston		65,066		19,443		45,623			57,777		18,530		39,247
Denver		10,825		2,930		7,895			9,575		2,710		6,865
Total same store		645,797		201,365		444,432			568,365		195,328		373,037
Non-same store/other
Non-same store (2)		40,501		15,646		24,855			3,436		1,660		1,776
Other (3)		732		1,194		(462	)		26,258		8,159		18,099
Total non-same store/other		41,233		16,840		24,393			29,694		9,819		19,875
Totals	$	687,030	$	218,205	$	468,825		$	598,059	$	205,147	$	392,912

(1) For the quarters ended June 30, 2022 and 2021, same store primarily includes all properties acquired or completed that were stabilized prior to April 1, 2021, less properties subsequently sold, which represented 74,057 apartment units.

(2) For the quarters ended June 30, 2022 and 2021, non-same store primarily includes properties acquired after April 1, 2021, plus any properties in lease-up and not stabilized as of April 1, 2021.

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

	Six Months Ended June 30, 2022
	Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	2,748,850	$	14,728
Orange County		362,679		2,643
San Diego		228,219		1,828
Subtotal - Southern California		3,339,748		19,199
San Francisco		3,114,937		13,003
Washington D.C.		3,120,459		13,391
New York		3,700,473		12,422
Seattle		2,106,727		8,761
Boston		1,708,006		9,799
Denver		482,417		562
Total same store		17,572,767		77,137
Non-same store/other
Non-same store (2)		2,421,668		6,053
Other (3)		579,910		114
Total non-same store/other		3,001,578		6,167
Totals	$	20,574,345	$	83,304

(1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2021, less properties subsequently sold, which represented 74,057 apartment units.

(2) Non-same store primarily includes properties acquired after January 1, 2021, plus any properties in lease-up and not stabilized as of January 1, 2021.

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