Segments (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Schedule of segment information

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2017			2016			2017			2016
Wholly-Owned Properties
Rental revenues and other income	$	169,874		$	175,395		$	349,584		$	361,899
Interest income	385			268			776			533
Total revenues from external customers	170,259			175,663			350,360			362,432
Operating expenses before depreciation, amortization, ground/facility leases and allocation of corporate overhead	(72,493		)	(76,705		)	(144,770		)	(154,703		)
Ground/facility leases	(1,687		)	(1,452		)	(3,287		)	(2,906		)
Interest expense, net (1)	664			(5,231		)	346			(12,137		)
Operating income before depreciation, amortization, and allocation of corporate overhead	$	96,743		$	92,275		$	202,649		$	192,686
Depreciation and amortization	$	53,345		$	51,053		$	103,002		$	102,276
Capital expenditures	$	148,074		$	124,431		$	276,728		$	210,343
Total segment assets at June 30,	$	6,017,795		$	5,942,924		$	6,017,795		$	5,942,924
On-Campus Participating Properties
Total revenues and other income	$	6,171		$	6,214		$	16,329		$	16,260
Interest income	15			2			23			2
Total revenues from external customers	6,186			6,216			16,352			16,262
Operating expenses before depreciation, amortization, ground/facility leases and allocation of corporate overhead	(3,562		)	(3,013		)	(6,498		)	(5,771		)
Ground/facility leases	(778		)	(1,015		)	(1,535		)	(1,865		)
Interest expense	(1,342		)	(1,419		)	(2,675		)	(2,837		)
Operating income before depreciation, amortization and allocation of corporate overhead	$	504		$	769		$	5,644		$	5,789
Depreciation and amortization	$	1,869		$	1,831		$	3,729		$	3,654
Capital expenditures	$	661		$	409		$	870		$	1,064
Total segment assets at June 30,	$	100,970		$	104,826		$	100,970		$	104,826
Development Services
Development and construction management fees	$	675		$	2,121		$	1,131		$	3,156
Operating expenses	(3,607		)	(3,385		)	(7,211		)	(6,980		)
Operating loss before depreciation, amortization and allocation of corporate overhead	$	(2,932	)	$	(1,264	)	$	(6,080	)	$	(3,824	)
Total segment assets at June 30,	$	3,187		$	2,088		$	3,187		$	2,088
Property Management Services
Property management fees from external customers	$	2,288		$	2,253		$	4,902		$	4,663
Intersegment revenues	4,769			5,629			9,707			11,580
Total revenues	7,057			7,882			14,609			16,243
Operating expenses	(3,261		)	(2,816		)	(6,685		)	(5,800		)
Operating income before depreciation, amortization and allocation of corporate overhead	$	3,796		$	5,066		$	7,924		$	10,443
Total segment assets at June 30,	$	9,982		$	8,787		$	9,982		$	8,787

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2017			2016			2017			2016
Reconciliations
Total segment revenues and other income	$	184,177		$	191,882		$	382,452		$	398,093
Unallocated interest income earned on investments and corporate cash	832			1,205			1,665			2,219
Elimination of intersegment revenues	(4,769		)	(5,629		)	(9,707		)	(11,580		)
Total consolidated revenues, including interest income	$	180,240		$	187,458		$	374,410		$	388,732
Segment operating income before depreciation, amortization and allocation of corporate overhead	$	98,111		$	96,846		$	210,137		$	205,094
Depreciation and amortization	(56,966		)	(55,055		)	(110,317		)	(111,313		)
Net unallocated expenses relating to corporate interest and overhead	(27,582		)	(22,681		)	(51,551		)	(45,526		)
(Loss) gain from disposition of real estate	(632		)	—			(632		)	17,409
Provision for real estate impairment	(15,317		)	—			(15,317		)	—
Income tax provision	(267		)	(345		)	(524		)	(690		)
Net income	$	(2,653	)	$	18,765		$	31,796		$	64,974
Total segment assets	$	6,131,934		$	6,058,625		$	6,131,934		$	6,058,625
Unallocated corporate assets	93,039			256,432			93,039			256,432
Total assets at June 30,	$	6,224,973		$	6,315,057		$	6,224,973		$	6,315,057