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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, 2014
Dec. 31, 2013
Dec. 31, 2012
Document Fiscal Year Focus 2014    
Property revenues      
Rental revenues $ 731,874us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue $ 683,362us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue $ 602,004us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue
Other property revenues 112,104us-gaap_OtherRealEstateRevenue 105,489us-gaap_OtherRealEstateRevenue 96,314us-gaap_OtherRealEstateRevenue
Total property revenues 843,978us-gaap_RealEstateRevenueNet [1] 788,851us-gaap_RealEstateRevenueNet [1] 698,318us-gaap_RealEstateRevenueNet
Property expenses      
Property operating and maintenance 211,253us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment 199,650us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment 185,720us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment
Real estate taxes 94,055us-gaap_RealEstateTaxExpense 86,041us-gaap_RealEstateTaxExpense 70,710us-gaap_RealEstateTaxExpense
Total property expenses 305,308us-gaap_CostOfRealEstateRevenue 285,691us-gaap_CostOfRealEstateRevenue 256,430us-gaap_CostOfRealEstateRevenue
Non-property income      
Fee and asset management 9,832us-gaap_ManagementFeesRevenue 11,690us-gaap_ManagementFeesRevenue 12,345us-gaap_ManagementFeesRevenue
Interest and other income (loss) 842us-gaap_OtherNonoperatingIncomeExpense 1,217us-gaap_OtherNonoperatingIncomeExpense (710)us-gaap_OtherNonoperatingIncomeExpense
Income on deferred compensation plans 3,937cpt_IncomeLossOnDeferredCompensationPlans 8,290cpt_IncomeLossOnDeferredCompensationPlans 4,772cpt_IncomeLossOnDeferredCompensationPlans
Total non-property income 14,611cpt_TotalNonPropertyIncomeLoss 21,197cpt_TotalNonPropertyIncomeLoss 16,407cpt_TotalNonPropertyIncomeLoss
Other expenses      
Property management 22,689us-gaap_OwnedPropertyManagementCosts 21,774us-gaap_OwnedPropertyManagementCosts 21,796us-gaap_OwnedPropertyManagementCosts
Fee and asset management 5,341us-gaap_AssetManagementCosts 5,756us-gaap_AssetManagementCosts 6,631us-gaap_AssetManagementCosts
General and administrative 51,005us-gaap_GeneralAndAdministrativeExpense 40,586us-gaap_GeneralAndAdministrativeExpense 37,528us-gaap_GeneralAndAdministrativeExpense
Interest 93,263us-gaap_InterestExpense 98,129us-gaap_InterestExpense 104,246us-gaap_InterestExpense
Depreciation and amortization 235,634us-gaap_DepreciationAndAmortization 214,395us-gaap_DepreciationAndAmortization 194,673us-gaap_DepreciationAndAmortization
Amortization of deferred financing costs 3,355us-gaap_AmortizationOfFinancingCosts 3,548us-gaap_AmortizationOfFinancingCosts 3,608us-gaap_AmortizationOfFinancingCosts
Expense on deferred compensation plans 3,937cpt_ExpenseBenefitOnDeferredCompensationPlans 8,290cpt_ExpenseBenefitOnDeferredCompensationPlans 4,772cpt_ExpenseBenefitOnDeferredCompensationPlans
Total other expenses 415,224cpt_TotalOtherExpenses 392,478cpt_TotalOtherExpenses 373,254cpt_TotalOtherExpenses
Gain on sale of operating properties, including land 159,289us-gaap_GainLossOnDispositionOfAssets 698us-gaap_GainLossOnDispositionOfAssets 0us-gaap_GainLossOnDispositionOfAssets
Gain on acquisition of controlling interest in joint ventures 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss 57,418us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
Impairment associated with land holdings (1,152)us-gaap_ImpairmentOfRealEstate 0us-gaap_ImpairmentOfRealEstate 0us-gaap_ImpairmentOfRealEstate
Equity in income of joint ventures 7,023us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions [2] 24,865us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions [2] 20,175us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions [2]
Income from continuing operations before income taxes 303,217us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic 157,442us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic 162,634us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
Income tax expense - current (1,903)us-gaap_CurrentIncomeTaxExpenseBenefit (1,826)us-gaap_CurrentIncomeTaxExpenseBenefit (1,208)us-gaap_CurrentIncomeTaxExpenseBenefit
Income from continuing operations 301,314us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 155,616us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 161,426us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Income from discontinued operations 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 8,515us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 17,406us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Gain on sale of discontinued operations, net of tax 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 182,160us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 115,068us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net income 301,314us-gaap_ProfitLoss 346,291us-gaap_ProfitLoss 293,900us-gaap_ProfitLoss
Less income allocated to non-controlling interests from continuing operations (9,225)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,022)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,459)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (5,905)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (3,200)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
Less income allocated to perpetual preferred units 0us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest (776)us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest
Less write off of original issuance costs of redeemed perpetual preferred units 0cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits 0cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits (2,075)cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits
Net income attributable to common shareholders 292,089us-gaap_NetIncomeLoss [1] 336,364us-gaap_NetIncomeLoss [1] 283,390us-gaap_NetIncomeLoss
Earnings per share - basic      
Earnings per common share from continuing operations $ 3.29us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.70us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.81us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Earnings per common share from discontinued operations $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 2.12us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 1.54us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Total earnings per common share - basic $ 3.29us-gaap_EarningsPerShareBasic [1] $ 3.82us-gaap_EarningsPerShareBasic [1] $ 3.35us-gaap_EarningsPerShareBasic
Earnings per share - diluted      
Earnings per common share from continuing operations $ 3.27us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.69us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.79us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Earnings per common share from discontinued operations $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 2.09us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 1.51us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Total earnings per common share - diluted $ 3.27us-gaap_EarningsPerShareDiluted [1] $ 3.78us-gaap_EarningsPerShareDiluted [1] $ 3.30us-gaap_EarningsPerShareDiluted
Weighted average number of common shares outstanding - basic 88,084us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 87,204us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 83,772us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average number of common shares outstanding - diluted 88,468us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 88,494us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 85,556us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Net income attributable to common shareholders      
Income from continuing operations 301,314us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 155,616us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 161,426us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Less income allocated to non-controlling interests from continuing operations (9,225)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,022)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,459)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Less income allocated to perpetual preferred units 0us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest (776)us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest
Less write off of original issuance costs of redeemed perpetual preferred units 0cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits 0cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits (2,075)cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits
Income from continuing operations attributable to common shareholders 292,089us-gaap_IncomeLossFromContinuingOperations 151,594us-gaap_IncomeLossFromContinuingOperations 154,116us-gaap_IncomeLossFromContinuingOperations
Income from discontinued operations, including gain on sale 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 190,675us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 132,474us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (5,905)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (3,200)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
Income from discontinued operations, including gain on sale, attributable to common shareholders 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 184,770us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 129,274us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Net income attributable to common shareholders 292,089us-gaap_NetIncomeLoss [1] 336,364us-gaap_NetIncomeLoss [1] 283,390us-gaap_NetIncomeLoss
Consolidated Statements of Comprehensive Income:      
Net income 301,314us-gaap_ProfitLoss 346,291us-gaap_ProfitLoss 293,900us-gaap_ProfitLoss
Other comprehensive income      
Unrealized loss on cash flow hedging activities (417)us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax 0us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax 0us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
Unrealized loss and unamortized prior service cost on postretirement obligation (970)us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax (99)us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax (409)us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation 74cpt_Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation 54cpt_Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation 30cpt_Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
Comprehensive income 300,001us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest 346,246us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest 293,521us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
Less income allocated to non-controlling interests from continuing operations (9,225)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,022)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,459)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (5,905)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (3,200)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
Less income allocated to perpetual preferred units 0us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest (776)us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest
Less write off of original issuance costs of redeemed perpetual preferred units 0cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits 0cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits (2,075)cpt_WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits
Comprehensive income attributable to common shareholders $ 290,776us-gaap_ComprehensiveIncomeNetOfTax $ 336,319us-gaap_ComprehensiveIncomeNetOfTax $ 283,011us-gaap_ComprehensiveIncomeNetOfTax
[1] Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year.
[2] Equity in income excludes our ownership interest of fee income from various services provided by us to the funds.