XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue:        
Rental and other income $ 549,507 $ 514,891 $ 1,600,047 $ 1,522,705
Management, development and other fees 993 1,320 3,290 4,310
Total revenue 550,500 516,211 1,603,337 1,527,015
Expenses:        
Operating expenses, excluding property taxes 129,590 124,789 379,319 360,318
Property taxes 57,698 52,338 164,195 153,512
Interest expense, net 47,741 47,871 147,138 137,862
Loss on extinguishment of debt, net 0 0 24,162 2,461
Depreciation expense 144,990 131,729 427,050 391,414
General and administrative expense 11,655 11,928 38,808 35,343
Expensed acquisition, development and other pursuit costs, net of recoveries 789 3,804 2,087 8,702
Casualty and impairment loss (gain), net 0 0 (11,688) 3,935
Total expenses 392,463 372,459 1,194,447 1,085,677
Income before equity in income of unconsolidated real estate entities, gain on sale of communities and other real estate, and income taxes 158,037 143,752 408,890 441,338
Equity in income (loss) of unconsolidated real estate entities 52,568 (342) 70,386 54,779
Gain on sale of communities 27,738 202,163 159,754 284,582
(Loss) gain on sale of other real estate (120) 10,778 246 10,921
Income before income taxes 238,223 356,351 639,276 791,620
Income tax expense 24 22 102 95
Net income 238,199 356,329 639,174 791,525
Net loss attributable to noncontrolling interests 49 63 174 242
Net income attributable to common stockholders 238,248 356,392 639,348 791,767
Other comprehensive income (loss):        
Income (loss) on cash flow hedges 359 719 (15,654) (73,826)
Cash flow hedge losses reclassified to earnings 1,767 1,748 5,301 4,682
Comprehensive income $ 240,374 $ 358,859 $ 628,995 $ 722,623
Earnings per common share - basic:        
Net income attributable to common stockholders (in dollars per share) $ 1.73 $ 2.60 $ 4.64 $ 5.77
Earnings per common share - diluted:        
Net income attributable to common stockholders (in dollars per share) 1.72 2.59 4.63 5.76
Dividends per common share (in dollars per share) $ 1.42 $ 1.35 $ 4.26 $ 4.05