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Condensed Consolidated Statements Of Income And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Property revenues    
Rental revenues $ 187,119 $ 175,220
Other property revenues 30,476 26,388
Total property revenues 217,595 201,608
Property expenses    
Property operating and maintenance 50,269 48,851
Real estate taxes 26,880 24,677
Total property expenses 77,149 73,528
Non-property income    
Fee and asset management 1,765 1,563
Interest and other income 224 60
Income on deferred compensation plans 63 1,864
Total non-property income 2,052 3,487
Other expenses    
Property management 7,140 5,792
Fee and asset management 952 1,076
General and administrative 12,223 9,748
Interest 23,790 25,052
Depreciation and amortization 62,091 57,984
Expense on deferred compensation plans 63 1,864
Total other expenses 106,259 101,516
Gain on sale of operating properties, including land 443 85,192
Equity in income of joint ventures [1] 1,497 1,382
Income from continuing operations before income taxes 38,179 116,625
Income tax expense (315) (429)
Income from continuing operations 37,864 116,196
Income from discontinued operations 5,076 4,869
Net income 42,940 121,065
Less income allocated to non-controlling interests from continuing operations (1,210) (5,466)
Net income attributable to common shareholders $ 41,730 $ 115,599
Earnings per common share from continuing operations $ 0.41 $ 1.23
Earnings per common share from discontinued operations 0.05 0.06
Earnings per common share – basic 0.46 1.29
Earnings per common share from continuing operations 0.41 1.22
Earnings per common share from discontinued operations 0.05 0.05
Earnings per share – diluted 0.46 1.27
Distributions declared per common share $ 0.75 $ 0.70
Weighted average number of common shares outstanding – basic 89,344 88,987
Weighted average number of common shares outstanding – diluted 90,509 90,464
Condensed Consolidated Statements of Comprehensive Income:    
Net income $ 42,940 $ 121,065
Other comprehensive income    
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post-retirement obligation 32 37
Comprehensive income 42,972 121,102
Less income allocated to non-controlling interests from continuing operations (1,210) (5,466)
Comprehensive income attributable to common shareholders $ 41,762 $ 115,636
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.