XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Property rental $ 258,128 $ 240,796 $ 506,014 $ 472,289
Tenant reinsurance 28,521 24,313 55,555 47,168
Management fees and other income 10,164 10,894 20,729 19,554
Total revenues 296,813 276,003 582,298 539,011
Expenses:        
Property operations 73,083 67,295 145,836 133,940
Tenant reinsurance 5,471 3,804 11,078 7,724
General and administrative 21,651 21,865 43,115 40,673
Depreciation and amortization 51,892 46,632 103,641 96,064
Total expenses 152,097 139,596 303,670 278,401
Income from operations 144,716 136,407 278,628 260,610
Loss on real estate transactions and impairment of real estate 0 (6,019) 0 (6,019)
Interest expense (43,347) (37,456) (84,313) (73,426)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (1,176) (1,290) (2,385) (2,559)
Interest income 1,188 1,485 2,626 3,800
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 101,381 93,127 194,556 182,406
Equity in earnings of unconsolidated real estate ventures 3,429 3,838 7,026 7,417
Income tax expense (2,097) (2,867) (3,439) (5,991)
Net income 102,713 94,098 198,143 183,832
Net income allocated to Preferred Operating Partnership noncontrolling interests (3,492) (3,430) (6,882) (7,381)
Net income allocated to Operating Partnership and other noncontrolling interests (4,068) (3,662) (7,852) (7,163)
Net income attributable to common stockholders $ 95,153 $ 87,006 $ 183,409 $ 169,288
Earnings per common share        
Basic (in dollars per share) $ 0.75 $ 0.69 $ 1.45 $ 1.34
Diluted (in dollars per share) $ 0.75 $ 0.69 $ 1.45 $ 1.33
Weighted average number of shares        
Basic (in shares) 125,874,130 125,673,156 125,823,581 125,639,480
Diluted (in shares) 132,772,772 132,783,402 132,992,734 132,759,354
Cash dividends paid per common share (in dollars per share) $ 0.86 $ 0.78 $ 1.64 $ 1.56