XML 23 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUE      
Rental Income $ 948,842 $ 832,171 $ 932,738
Mortgage interest income 2,382 3,323 3,050
Total revenue 951,224 835,494 935,788
EXPENSES      
Rental expenses 198,121 170,920 187,831
Real estate taxes 118,496 119,242 110,927
General and administrative 49,856 41,680 42,754
Depreciation and amortization 279,976 255,027 239,758
Total operating expenses 646,449 586,869 581,270
Impairment charge 0 (57,218) 0
Gain on sale of real estate and change in control of interest, net of tax 89,950 98,117 116,393
OPERATING INCOME 394,725 289,524 470,911
Other interest income 809 1,894 1,266
Interest expense (127,698) (136,289) (109,623)
Early extinguishment of debt 0 (11,179) 0
Income (loss) from partnerships 1,245 (8,062) (2,012)
Net income 269,081 135,888 360,542
Net income attributable to noncontrolling interests (7,583) (4,182) (6,676)
NET INCOME ATTRIBUTABLE TO THE TRUST 261,498 131,706 353,866
Dividends on preferred shares (8,042) (8,042) (8,042)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 253,456 $ 123,664 $ 345,824
EARNINGS PER COMMON SHARE, BASIC      
Net income available for common shareholders $ 3.26 $ 1.62 $ 4.61
Weighted average number of common shares 77,336 75,515 74,766
EARNINGS PER COMMON SHARE, DILUTED      
Net income available for common shareholders $ 3.26 $ 1.62 $ 4.61
Weighted average number of common shares 77,368 75,515 74,766
COMPREHENSIVE INCOME      
Net income $ 269,081 $ 135,888 $ 360,542
Other comprehensive income (loss) - change in value of interest rate swaps 3,917 (5,302) (397)
COMPREHENSIVE INCOME 272,998 130,586 360,145
Comprehensive income attributable to noncontrolling interests (7,903) (3,711) (6,676)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST $ 265,095 $ 126,875 $ 353,469