XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Property rental $ 290,423 $ 290,917 $ 856,438 $ 841,504
Tenant reinsurance 39,294 33,588 107,985 95,086
Management fees and other income 13,307 13,000 38,299 36,063
Total revenues 343,024 337,505 1,002,722 972,653
Expenses:        
Property operations 92,322 88,653 271,659 248,288
Tenant reinsurance 7,189 7,644 20,725 21,593
General and administrative 23,894 22,519 72,242 68,548
Depreciation and amortization 56,412 56,051 167,705 165,116
Total expenses 179,817 174,867 532,331 503,545
Gain on real estate transactions 0 0 0 1,205
Income from operations 163,207 162,638 470,391 470,313
Interest expense (42,213) (46,908) (127,610) (141,716)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (1,233) (1,186) (3,675) (3,533)
Interest income 3,145 2,799 6,488 5,905
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 122,906 117,343 345,594 330,969
Equity in earnings and dividend income from unconsolidated real estate entities 5,605 2,704 15,692 8,455
Income tax expense (4,657) (4,052) (10,013) (8,580)
Net income 123,854 115,995 351,273 330,844
Net income allocated to Preferred Operating Partnership noncontrolling interests (3,248) (3,088) (9,498) (9,379)
Net income allocated to Operating Partnership and other noncontrolling interests (5,973) (4,820) (16,052) (13,780)
Net income attributable to common stockholders $ 114,633 $ 108,087 $ 325,723 $ 307,685
Earnings per common share        
Basic (in dollars per share) $ 0.89 $ 0.84 $ 2.52 $ 2.40
Diluted (in dollars per share) $ 0.88 $ 0.83 $ 2.50 $ 2.37
Weighted average number of shares        
Basic (in shares) 128,862,341 128,776,549 129,044,954 127,830,272
Diluted (in shares) 129,871,096 137,318,475 130,066,121 136,164,299
Cash dividends paid per common share (in dollars per share) $ 0.90 $ 0.90 $ 2.70 $ 2.66