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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue:      
Rental and other income $ 2,760,187 $ 2,587,113 $ 2,291,766
Management, development and other fees 7,722 6,333 3,084
Total revenue 2,767,909 2,593,446 2,294,850
Expenses:      
Operating expenses, excluding property taxes 681,338 630,154 570,853
Property taxes 306,794 288,960 283,089
Expensed transaction, development and other pursuit costs, net of recoveries 33,479 16,565 3,231
Interest expense, net 205,992 230,074 220,415
Loss on extinguishment of debt, net 150 1,646 17,787
Depreciation expense 816,965 814,978 758,596
General and administrative expense 76,534 74,064 69,611
Casualty loss 9,118 0 3,119
Total expenses 2,130,370 2,056,441 1,926,701
Income from unconsolidated investments 13,454 53,394 38,585
Gains (Losses) on Sales of Investment Real Estate 287,424 555,558 602,235
Other real estate activity 174 5,127 1,120
Income before income taxes 938,591 1,151,084 1,010,089
Income Tax Expense (Benefit) (10,153) (14,646) (5,733)
Net income 928,438 1,136,438 1,004,356
Net loss (income) attributable to noncontrolling interests 387 337 (57)
Net income attributable to common stockholders 928,825 1,136,775 1,004,299
Other comprehensive income:      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 13,332 23,647 993
Cash flow hedge losses reclassified to earnings 1,360 3,883 13,151
Comprehensive income $ 943,517 $ 1,164,305 $ 1,018,443
Earnings per common share - basic:      
Net income per common share - basic (in dollars per share) $ 6.56 $ 8.13 $ 7.19
Earnings per common share - diluted:      
Net income per common share - diluted (in dollars per share) $ 6.56 $ 8.12 $ 7.19