XML 42 R31.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Schedule of Financial Information of Business Segments
Financial information for the Company’s business segments is presented below:
 
March 31, 2017
 
December 31, 2016
Balance Sheet
 
 
 
Investment in unconsolidated real estate ventures
 
 
 
Rental operations
$
79,385

 
$
79,570

Total assets
 
 
 
Rental operations
$
6,729,670

 
$
6,731,292

Tenant reinsurance
33,611

 
44,524

Property management, acquisition and development
271,076

 
315,630

 
$
7,034,357

 
$
7,091,446


 
For the Three Months Ended March 31,
 
2017
 
2016
Statement of Operations
 
 
 
Total revenues
 
 
 
Rental operations
$
231,493

 
$
199,488

Tenant reinsurance
22,855

 
20,555

Property management, acquisition and development
8,660

 
9,360

 
263,008

 
229,403

Operating expenses, including depreciation and amortization
 
 
 
Rental operations
115,357

 
101,698

Tenant reinsurance
3,920

 
4,311

Property management, acquisition and development
19,528

 
29,766

 
138,805

 
135,775

Income (loss) from operations
 
 
 
Rental operations
116,136

 
97,790

Tenant reinsurance
18,935

 
16,244

Property management, acquisition and development
(10,868
)
 
(20,406
)
 
124,203

 
93,628

Loss on earnout from prior acquisition
 
 
 
Property management, acquisition and development
—

 
(1,544
)
Interest expense
 
 
 
Rental operations
(34,821
)
 
(30,565
)
Property management, acquisition and development
(1,149
)
 
(794
)
 
(35,970
)
 
(31,359
)
Non-cash interest expense related to the amortization of discount on equity component of exchangeable senior notes
 
 
 
Property management, acquisition and development
(1,269
)
 
(1,233
)
Interest income
 
 
 
Property management, acquisition and development
1,102

 
1,714

 


 


Interest income on note receivable from Preferred Operating Partnership unit holder
 
 
 
Property management, acquisition and development
1,213

 
1,213

Equity in earnings of unconsolidated real estate ventures
 
 
 
Rental operations
3,579

 
2,830

Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partner's interest
 
 
 
Property management, acquisition and development
—

 
26,923

Income tax (expense) benefit
 
 
 
Rental operations
(463
)
 
(845
)
Tenant reinsurance
(3,263
)
 
(2,663
)
Property management, acquisition and development
602

 
743

 
(3,124
)
 
(2,765
)
Net income (loss)
 
 
 
Rental operations
84,431

 
69,210

Tenant reinsurance
15,672

 
13,581

Property management, acquisition and development
(10,369
)
 
6,616

 
$
89,734

 
$
89,407


 
For the Three Months Ended March 31,
 
2017
 
2016
Depreciation and amortization expense
 
 
 
Rental operations
$
48,712

 
$
40,586

Property management, acquisition and development
720

 
2,311

 
$
49,432

 
$
42,897

Statement of Cash Flows
 
 
 
Acquisition of real estate assets
 
 
 
Property management, acquisition and development
$
(39,136
)
 
$
(234,820
)
Development and redevelopment of real estate assets
 
 
 
Property management, acquisition and development
$
(5,246
)
 
$
(6,543
)