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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenue:    
Operating Lease, Lease Income $ 600,644 $ 565,045
Management, development and other fees 1,007 1,139
Total revenue 601,651 566,184
Expenses:    
Operating expenses, excluding property taxes 131,993 123,455
Property taxes 67,026 61,329
Interest expense, net 55,914 47,892
Loss on extinguishment of debt, net 9,170 280
Depreciation expense 177,911 162,057
General and administrative expense 17,320 13,706
Expensed transaction, development and other pursuit costs, net of recoveries 3,334 622
Total expenses 462,668 409,341
Equity in income (loss) of unconsolidated real estate entities 1,175 (1,060)
Gain on sale of communities 24,436 14,835
Gain on other real estate transactions, net 43 267
Gain (Loss) on Sale of Other Investments 3,460 (473)
Income before income taxes 168,097 170,412
Income Tax Expense (Benefit) 91 (6)
Net income 168,006 170,418
Net income attributable to noncontrolling interests (35) (52)
Net income attributable to common stockholders 167,971 170,366
Other comprehensive income (loss):    
Loss on cash flow hedges (17,603) (7,231)
Cash flow hedge losses reclassified to earnings 1,949 1,468
Comprehensive income $ 152,317 $ 164,603
Earnings per common share - basic:    
Net income attributable to common stockholders (in dollars per share) $ 1.19 $ 1.23
Earnings per common share - diluted:    
Net income attributable to common stockholders (in dollars per share) $ 1.19 $ 1.23