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Consolidated Statements Of Income And Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Property revenues      
Rental revenues $ 626,127 $ 533,937 $ 488,895
Other property revenues 101,781 87,137 79,177
Total property revenues 727,908 621,074 568,072
Property expenses      
Property operating and maintenance 196,811 175,000 163,628
Real estate taxes 72,858 65,128 63,150
Total property expenses 269,669 240,128 226,778
Non-property income      
Fee and asset management 12,345 9,973 8,172
Interest and other income (loss) (710) 4,649 8,584
Income on deferred compensation plans 4,772 6,773 11,581
Total non-property income 16,407 21,395 28,337
Other expenses      
Property management 21,796 20,686 19,982
Fee and asset management 6,631 5,935 4,841
General and administrative 37,528 35,456 30,762
Interest 104,282 112,414 125,893
Depreciation and amortization 203,077 171,127 161,760
Amortization of deferred financing costs 3,608 5,877 4,102
Expense on deferred compensation plans 4,772 6,773 11,581
Total other expenses 381,694 358,268 358,921
Gain on acquisition of controlling interest in joint ventures 57,418 0 0
Gain on sale of properties, including land 0 4,748 236
Gain on sale of unconsolidated joint venture interests 0 1,136 0
Loss on discontinuation of hedging relationship 0 (29,791) 0
Impairment provision on a technology investment 0 0 (1,000)
Equity in income (loss) of joint ventures 20,175 [1] 5,679 [1] (839) [1]
Income from continuing operations before income taxes 170,545 25,845 9,107
Income tax expense - current (1,208) (2,220) (1,581)
Income from continuing operations 169,337 23,625 7,526
Income from discontinued operations 9,495 11,715 14,002
Gain on sale of discontinued operations, net of tax 115,068 24,621 9,614
Net income 293,900 59,961 31,142
Less income allocated to non-controlling interests from continuing operations (4,821) (3,453) (821)
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (2,838) (129) (105)
Less income allocated to perpetual preferred units (776) (7,000) (7,000)
Less write off of original issuance costs of redeemed perpetual preferred units (2,075) 0 0
Net income attributable to common shareholders 283,390 49,379 23,216
Earnings per share - basic      
Income (loss) from continuing operations attributable to common shareholders $ 1.90 $ 0.17 $ (0.01)
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 1.45 $ 0.50 $ 0.34
Net income attributable to common shareholders, as adjusted - per share $ 3.35 $ 0.67 $ 0.33
Earnings per share - diluted      
Income (loss) from continuing operations attributable to common shareholders $ 1.88 $ 0.17 $ (0.01)
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 1.42 $ 0.49 $ 0.34
Net income attributable to common shareholders, as adjusted - per share $ 3.30 $ 0.66 $ 0.33
Weighted average number of common shares outstanding - basic 83,772 72,756 68,608
Weighted average number of common shares outstanding - diluted 85,556 73,462 68,608
Net income attributable to common shareholders      
Income from continuing operations 169,337 23,625 7,526
Less income allocated to non-controlling interests from continuing operations (4,821) (3,453) (821)
Less income allocated to perpetual preferred units (776) (7,000) (7,000)
Less write off of original issuance costs of redeemed perpetual preferred units (2,075) 0 0
Income (loss) from continuing operations attributable to common shareholders 161,665 13,172 (295)
Income from discontinued operations, including gain on sale 124,563 36,336 23,616
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (2,838) (129) (105)
Income from discontinued operations, including gain on sale, attributable to common shareholders 121,725 36,207 23,511
Net income attributable to common shareholders 283,390 49,379 23,216
Condensed Consolidated Statements of Comprehensive Income:      
Net income 293,900 59,961 31,142
Other comprehensive income      
Unrealized loss on cash flow hedging activities 0 (2,692) (19,059)
Reclassification of net losses on cash flow hedging activities 0 39,657 23,385
Unrealized gain on available-for-sale securities, net of tax 0 0 3,306
Reclassification of gain on available-for-sale investment to earnings, net of tax 0 (3,306) 0
Reclassification of prior service cost and net loss on post retirement obligations 30 0 0
Unrealized gain (loss) and unamortized prior service cost on postretirement obligation (409) (884) 65
Comprehensive income 293,521 92,736 38,839
Less income allocated to non-controlling interests from continuing operations (4,821) (3,453) (821)
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (2,838) (129) (105)
Less income allocated to perpetual preferred units (776) (7,000) (7,000)
Less write off of original issuance costs of redeemed perpetual preferred units (2,075) 0 0
Comprehensive income attributable to common shareholders $ 283,011 $ 82,154 $ 30,913
[1] (3)Equity in income (loss) excludes our ownership interest of fee income from various property management services and interest income from mezzanine loans with our joint ventures.