Organization and Basis of Presentation Details (Tables)

12 Months Ended

Dec. 31, 2012

Organization and Basis of Presentation

Schedule of reconciliation of net income attributable to common stockholders to taxable net income

The following reconciles net income attributable to common stockholders to taxable net income for the years ended December 31, 2012, 2011 and 2010 (dollars in thousands), (unaudited):

	2012 Estimate			2011 Actual			2010 Actual
Net income attributable to common stockholders	$	423,869$			441,622		$	175,331
GAAP gain on sale of communities (in excess of) less than tax gain		37,575			(84,152	)		3,812
Depreciation/amortization timing differences on real estate		15,012			9,192			8,266
Tax compensation expense less than (in excess of) GAAP		(19,218	)		(43,145	)		(12,202	)
Impairment loss		1,449			14,052			—
Other adjustments		(3,202	)		183			12,628
Taxable net income	$	455,485$			337,752		$	187,835

Schedule of tax components of the entity's common dividends declared

	2012			2011			2010
Ordinary income		47	%		34	%		74	%
15% capital gain		33	%		47	%		11	%
Unrecaptured §1250 gain		20	%		19	%		15	%

Schedule of earnings per common share

	For the year ended
	12-31-12			12-31-11			12-31-10
	(Dollars in thousands)
Basic and diluted shares outstanding
Weighted average common shares—basic		97,416,401			89,922,465			83,859,936
Weighted average DownREIT units outstanding		7,500			8,322			15,321
Effect of dilutive securities		601,251			846,675			757,612
Weighted average common shares—diluted		98,025,152			90,777,462			84,632,869
Calculation of Earnings per Share—basic
Net income attributable to common stockholders	$	423,869		$	441,622		$	175,331
Net income allocated to unvested restricted shares		(1,264	)		(1,631	)		(498	)
Net income attributable to common stockholders, adjusted	$	422,605		$	439,991		$	174,833
Weighted average common shares—basic		97,416,401			89,922,465			83,859,936
Earnings per common share—basic	$	4.34		$	4.89		$	2.08
Calculation of Earnings per Share—diluted
Net income attributable to common stockholders	$	423,869		$	441,622		$	175,331
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations		28			27			55
Adjusted net income attributable to common stockholders	$	423,897		$	441,649		$	175,386
Weighted average common shares—diluted		98,025,152			90,777,462			84,632,869
Earnings per common share—diluted	$	4.32		$	4.87		$	2.07
Dividends per common share	$	3.88		$	3.57		$	3.57