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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue:    
Rental and other income $ 550,258 $ 601,260
Management, development and other fees 877 1,007
Total revenue 551,135 602,267
Expenses:    
Operating expenses, excluding property taxes 140,050 132,609
Property taxes 69,410 67,026
Other Nonoperating Income (Expense) (170) 3,334
Interest Expense 52,613 55,914
Gain (Loss) on Extinguishment of Debt (122) 9,170
Depreciation expense 183,297 177,911
General and administrative expense 17,352 17,320
Total expenses 462,430 463,284
Equity in (loss) income of unconsolidated real estate entities (467) 1,175
Gains (Losses) on Sales of Investment Real Estate 53,727 24,436
Gain on other real estate transactions, net 427 43
Net for-sale condominium activity (913) 3,460
Income before income taxes 141,479 168,097
Income tax benefit (expense) 755 (91)
Net income 142,234 168,006
Net income attributable to noncontrolling interests (11) (35)
Net income attributable to common stockholders 142,223 167,971
Other comprehensive income:    
Loss on cash flow hedges 0 (17,603)
Cash flow hedge losses reclassified to earnings 2,367 1,949
Comprehensive income $ 144,590 $ 152,317
Earnings per common share - basic:    
Net income attributable to common stockholders (in dollars per share) $ 1.02 $ 1.19
Earnings per common share - diluted:    
Net income attributable to common stockholders (in dollars per share) $ 1.02 $ 1.19