XML 80 R64.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segments - Summary (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Segment Reporting Information [Line Items]          
Total revenues $ 179,008 $ 185,983 $ 371,946 $ 385,978  
Interest expense (14,573) (20,119) (29,290) (42,746)  
Depreciation and amortization (56,966) (55,055) (110,317) (111,313)  
Operating expenses (166,398) (146,877) (310,117) (293,837)  
Property management fees from external customers 2,288 2,253 4,902 4,663  
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 12,610 39,106 61,829 92,141  
(Loss) gain from disposition of real estate (632) 0 (632) 17,409  
Provision for real estate impairment (15,317) 0 (15,317) 0  
Income tax provision (267) (345) (524) (690)  
Net income (2,653) 18,765 31,796 64,974  
Total assets 6,224,973   6,224,973   $ 5,865,913
Operating segments          
Segment Reporting Information [Line Items]          
Total revenues 184,177 191,882 382,452 398,093  
Total segment assets 6,131,934 6,058,625 6,131,934 6,058,625  
Segment operating income before depreciation, amortization and allocation of corporate overhead 98,111 96,846 210,137 205,094  
Net income (2,653) 18,765 31,796 64,974  
Unallocated corporate assets 93,039 256,432 93,039 256,432  
Total assets 6,224,973 6,315,057 6,224,973 6,315,057  
Operating segments | Wholly-owned properties          
Segment Reporting Information [Line Items]          
Total revenues and other income 169,874 175,395 349,584 361,899  
Interest income 385 268 776 533  
Total revenues 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 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 6,017,795 5,942,924 6,017,795 5,942,924  
Operating segments | On-campus participating properties          
Segment Reporting Information [Line Items]          
Total revenues and other income 6,171 6,214 16,329 16,260  
Interest income 15 2 23 2  
Total revenues 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 100,970 104,826 100,970 104,826  
Operating segments | Development Services          
Segment Reporting Information [Line Items]          
Operating income before depreciation, amortization and allocation of corporate overhead (2,932) (1,264) (6,080) (3,824)  
Total segment assets 3,187 2,088 3,187 2,088  
Development and construction management fees 675 2,121 1,131 3,156  
Operating expenses (3,607) (3,385) (7,211) (6,980)  
Operating segments | Property Management Services          
Segment Reporting Information [Line Items]          
Total revenues 7,057 7,882 14,609 16,243  
Operating income before depreciation, amortization and allocation of corporate overhead 3,796 5,066 7,924 10,443  
Total segment assets 9,982 8,787 9,982 8,787  
Operating expenses (3,261) (2,816) (6,685) (5,800)  
Property management fees from external customers 2,288 2,253 4,902 4,663  
Intersegment revenues 4,769 5,629 9,707 11,580  
Unallocated          
Segment Reporting Information [Line Items]          
Total revenues 832 1,205 1,665 2,219  
Operating expenses (27,582) (22,681) (51,551) (45,526)  
Elimination of intersegment revenues          
Segment Reporting Information [Line Items]          
Total revenues $ (4,769) $ (5,629) $ (9,707) $ (11,580)