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Condensed Consolidated Statements Of Income And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Property revenues        
Property revenues $ 265,721 $ 260,672 $ 782,283 $ 765,000
Property expenses        
Property operating and maintenance 65,191 62,277 189,788 177,372
Real estate taxes 35,861 31,596 105,081 98,566
Total property expenses 101,052 93,873 294,869 275,938
Non-property income        
Fee and asset management 2,542 2,139 7,449 5,849
Interest and other income 1,948 1,485 2,602 2,114
Income on deferred compensation plans 5,071 780 1,646 14,992
Total non-property income 9,561 4,404 11,697 22,955
Other expenses        
Property management 5,894 6,154 18,360 18,904
Fee and asset management 1,018 1,316 2,681 4,022
General and administrative 12,726 13,458 40,350 40,027
Interest 24,265 20,719 67,454 60,538
Depreciation and amortization 90,575 85,814 275,237 250,734
Expense on deferred compensation plans 5,071 780 1,646 14,992
Total other expenses 139,549 128,241 405,728 389,217
Gain on sale of land     382 0
Equity in income of joint ventures [1] 2,154 2,133 5,909 5,954
Income from continuing operations before income taxes 36,835 45,095 99,674 128,754
Income tax expense (615) (313) (1,476) (709)
Net income 36,220 44,782 98,198 128,045
Less income allocated to non-controlling interests (1,263) (1,185) (3,480) (3,436)
Net income attributable to common shareholders $ 34,957 $ 43,597 $ 94,718 $ 124,609
Earnings per share – basic $ 0.35 $ 0.44 $ 0.95 $ 1.27
Earnings per share – diluted $ 0.35 $ 0.44 $ 0.95 $ 1.26
Weighted average number of common shares outstanding – basic 99,419 98,959 99,372 98,259
Weighted average number of common shares outstanding – diluted 99,455 99,066 99,414 98,375
Condensed Consolidated Statements of Comprehensive Income        
Net income $ 36,220 $ 44,782 $ 98,198 $ 128,045
Other comprehensive income        
Unrealized (loss) on cash flow hedging activities 0 0 0 (12,998)
Reclassification of net loss (gain) on cash flow hedging activities, prior service cost and net loss on post retirement obligation 366 357 1,098 (369)
Comprehensive income 36,586 45,139 99,296 114,678
Less income allocated to non-controlling interests (1,263) (1,185) (3,480) (3,436)
Comprehensive income attributable to common shareholders $ 35,323 $ 43,954 $ 95,816 $ 111,242
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.