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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue:      
Operating Lease, Lease Income $ 2,319,666 $ 2,280,963 $ 2,154,481
Management, development and other fees 4,960 3,572 4,147
Total revenue 2,324,626 2,284,535 2,158,628
Expenses:      
Cost of Other Property Operating Expense 515,145 524,993 500,924
Property taxes 252,961 241,563 221,375
Interest expense, net 203,585 220,974 199,661
Loss on extinguishment of debt, net 602 17,492 25,472
Depreciation expense 661,578 631,196 584,150
General and administrative expense 58,042 60,369 53,695
Other Nonoperating Expense 4,991 3,265 2,736
Casualty and impairment loss, net 0 215 6,250
Total expenses 1,696,904 1,700,067 1,594,263
Equity in income of unconsolidated real estate entities 8,652 15,270 70,744
Gain on sale of communities 166,105 374,976 252,599
Gain (loss) on other real estate transactions, net 439 345 (10,907)
Other Selling, General and Administrative Expense (3,812) (1,044) 0
Income before income taxes 799,106 974,015 876,801
Income Tax Expense (Benefit) 13,003 (160) 141
Net income 786,103 974,175 876,660
Net (income) loss attributable to noncontrolling interests (129) 350 261
Net income attributable to common stockholders 785,974 974,525 876,921
Other comprehensive income (loss):      
(Loss) gain on cash flow hedges (11,930) 5,132 (13,979)
Cash flow hedge losses reclassified to earnings (6,571) (6,143) (7,070)
Comprehensive income $ 780,615 $ 985,800 $ 870,012
Earnings per common share - basic:      
Net income per common share - basic (in dollars per share) $ 5.64 $ 7.05 $ 6.36
Earnings per common share - diluted:      
Net income per common share - diluted (in dollars per share) $ 5.63 $ 7.05 $ 6.35