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Consolidated Statements Of Income And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Property revenues      
Rental revenues $ 769,108 $ 731,874 $ 683,362
Other property revenues 123,820 112,104 105,489
Total property revenues 892,928 [1] 843,978 [1] 788,851
Property expenses      
Property operating and maintenance 219,831 211,253 199,650
Real estate taxes 101,885 94,055 86,041
Total property expenses 321,716 305,308 285,691
Non-property income      
Fee and asset management 6,999 9,832 11,690
Interest and other income 597 842 1,217
Income (loss) on deferred compensation plans (264) 3,937 8,290
Total non-property income 7,332 14,611 21,197
Other expenses      
Property management 23,761 22,689 21,774
Fee and asset management 4,742 5,341 5,756
General and administrative 46,233 51,005 40,586
Interest 97,312 94,906 99,784
Depreciation and amortization 257,082 237,346 216,288
Expense (benefit) on deferred compensation plans (264) 3,937 8,290
Total other expenses 428,866 415,224 392,478
Gain on sale of operating properties, including land 104,288 159,289 698
Impairment associated with land holdings 0 (1,152) 0
Equity in income of joint ventures [2] 6,168 7,023 24,865
Income from continuing operations before income taxes 260,134 303,217 157,442
Income tax expense (1,872) (1,903) (1,826)
Income from continuing operations 258,262 301,314 155,616
Income from discontinued operations 0 0 8,515
Gain on sale of discontinued operations, net of tax 0 0 182,160
Net income 258,262 301,314 346,291
Less income allocated to non-controlling interests from continuing operations (8,947) (9,225) (4,022)
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations 0 0 (5,905)
Net income attributable to common shareholders $ 249,315 [1] $ 292,089 [1] $ 336,364
Earnings per share - basic      
Earnings per common share from continuing operations $ 2.77 $ 3.29 $ 1.70
Earnings per common share from discontinued operations 0.00 0.00 2.12
Total earnings per common share - basic 2.77 [1] 3.29 [1] 3.82
Earnings per share - diluted      
Earnings per common share from continuing operations 2.76 3.27 1.69
Earnings per common share from discontinued operations 0.00 0.00 2.09
Total earnings per common share - diluted $ 2.76 [1] $ 3.27 [1] $ 3.78
Weighted average number of common shares outstanding - basic 89,120 88,084 87,204
Weighted average number of common shares outstanding - diluted 89,490 88,468 88,494
Net income attributable to common shareholders      
Income from continuing operations $ 258,262 $ 301,314 $ 155,616
Less income allocated to non-controlling interests from continuing operations (8,947) (9,225) (4,022)
Income from continuing operations attributable to common shareholders 249,315 292,089 151,594
Income from discontinued operations, including gain on sale 0 0 190,675
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations 0 0 (5,905)
Income from discontinued operations, including gain on sale, attributable to common shareholders 0 0 184,770
Net income attributable to common shareholders 249,315 [1] 292,089 [1] 336,364
Consolidated Statements of Comprehensive Income:      
Net income 258,262 301,314 346,291
Other comprehensive income      
Unrealized loss on cash flow hedging activities 0 (417) 0
Unrealized gain (loss) and unamortized prior service cost on postretirement obligation 357 (970) (99)
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation 149 74 54
Comprehensive income 258,768 300,001 346,246
Less income allocated to non-controlling interests from continuing operations (8,947) (9,225) (4,022)
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations 0 0 (5,905)
Comprehensive income attributable to common shareholders $ 249,821 $ 290,776 $ 336,319
[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.