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CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Cumulative Dividends In Excess Of Earnings
Accumulated Other Comprehensive Income (Loss)
Total Stockholders’ Equity
Total Noncontrolling Interests
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Dividends In Excess Of Earnings
Cumulative Effect, Period of Adoption, Adjustment
Total Stockholders’ Equity
Cumulative Effect, Period of Adoption, Adjusted Balance
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Cumulative Dividends In Excess Of Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Total Stockholders’ Equity
Cumulative Effect, Period of Adoption, Adjusted Balance
Total Noncontrolling Interests
Accounting Standards Update [Extensible List] us-gaap:AccountingStandardsUpdate201602Member                                
Balance at Dec. 31, 2018 $ 6,512,591 $ 477,496 $ 8,398,847 $ (2,927,196) $ (4,708) $ 5,944,439 $ 568,152 $ 590 [1] $ 590 [1] $ 590 [1] $ 6,513,181 $ 477,496 $ 8,398,847 $ (2,926,606) $ (4,708) $ 5,945,029 $ 568,152
Balance (in shares) at Dec. 31, 2018   477,496                   477,496          
Increase (Decrease) in Stockholders' Equity                                  
Net income (loss) 55,010     47,873   47,873 7,137                    
Other comprehensive income (loss) 249       249 249                      
Issuance of common stock, net 406,813 $ 13,569 393,244     406,813                      
Issuance of common stock, net (in shares)   13,569                              
Conversion of DownREIT units to common stock 0 $ 184 3,890     4,074 (4,074)                    
Conversion of DownREIT units to common stock (in shares)   184                              
Repurchase of common stock (4,582) $ (149) (4,433)     (4,582)                      
Repurchase of common stock (in shares)   (149)                              
Exercise of stock options 219 $ 9 210     219                      
Exercise of stock options (in shares)   9                              
Amortization of deferred compensation 10,358   10,358     10,358                      
Common dividends (usd per share) (354,550)     (354,550)   (354,550)                      
Distributions to noncontrolling interests (9,823)           (9,823)                    
Issuances of noncontrolling interests 3,615           3,615                    
Purchase of noncontrolling interests (1,218)   (1,079)     (1,079) (139)                    
Balance at Jun. 30, 2019 $ 6,619,272 $ 491,109 8,801,037 (3,233,283) (4,459) 6,054,404 564,868                    
Balance (in shares) at Jun. 30, 2019   491,109                              
Accounting Standards Update [Extensible List] us-gaap:AccountingStandardsUpdate201613Member                                
Balance at Dec. 31, 2018 $ 6,512,591 $ 477,496 8,398,847 (2,927,196) (4,708) 5,944,439 568,152 590 [1] 590 [1] 590 [1] 6,513,181 $ 477,496 8,398,847 (2,926,606) (4,708) 5,945,029 568,152
Balance (in shares) at Dec. 31, 2018   477,496                   477,496          
Balance at Dec. 31, 2019 6,667,474 $ 505,222 9,183,892 (3,601,199) (2,857) 6,085,058 582,416 (1,524) [2] (1,524) [2] (1,524) [2] 6,665,950 $ 505,222 9,183,892 (3,602,723) (2,857) 6,083,534 582,416
Balance (in shares) at Dec. 31, 2019   505,222                   505,222          
Balance at Mar. 31, 2019 6,399,065 $ 477,929 8,405,258 (3,042,422) (3,883) 5,836,882 562,183                    
Balance (in shares) at Mar. 31, 2019   477,929                              
Increase (Decrease) in Stockholders' Equity                                  
Net income (loss) (9,980)     (13,597)   (13,597) 3,617                    
Other comprehensive income (loss) (576)       (576) (576)                      
Issuance of common stock, net 405,281 $ 13,227 392,054     405,281                      
Issuance of common stock, net (in shares)   13,227                              
Repurchase of common stock (1,663) $ (54) (1,609)     (1,663)                      
Repurchase of common stock (in shares)   (54)                              
Exercise of stock options 173 $ 7 166     173                      
Exercise of stock options (in shares)   7                              
Amortization of deferred compensation 6,247   6,247     6,247                      
Common dividends (usd per share) (177,264)     (177,264)   (177,264)                      
Distributions to noncontrolling interests (4,408)           (4,408)                    
Issuances of noncontrolling interests 3,615           3,615                    
Purchase of noncontrolling interests (1,218)   (1,079)     (1,079) (139)                    
Balance at Jun. 30, 2019 6,619,272 $ 491,109 8,801,037 (3,233,283) (4,459) 6,054,404 564,868                    
Balance (in shares) at Jun. 30, 2019   491,109                              
Balance at Dec. 31, 2019 6,667,474 $ 505,222 9,183,892 (3,601,199) (2,857) 6,085,058 582,416 (1,524) [2] (1,524) [2] (1,524) [2] 6,665,950 $ 505,222 9,183,892 (3,602,723) (2,857) 6,083,534 582,416
Balance (in shares) at Dec. 31, 2019   505,222                   505,222          
Balance at Mar. 31, 2020 $ 7,813,443 $ 538,135 10,213,011 (3,512,143) (2,495) 7,236,508 576,935                    
Balance (in shares) at Mar. 31, 2020   538,135                              
Accounting Standards Update [Extensible List] us-gaap:AccountingStandardsUpdate201613Member                                
Balance at Dec. 31, 2019 $ 6,667,474 $ 505,222 9,183,892 (3,601,199) (2,857) 6,085,058 582,416 $ (1,524) [2] $ (1,524) [2] $ (1,524) [2] $ 6,665,950 $ 505,222 $ 9,183,892 $ (3,602,723) $ (2,857) $ 6,083,534 $ 582,416
Balance (in shares) at Dec. 31, 2019   505,222                   505,222          
Increase (Decrease) in Stockholders' Equity                                  
Net income (loss) 337,589     330,586   330,586 7,003                    
Other comprehensive income (loss) 671       671 671                      
Issuance of common stock, net 1,065,389 $ 33,201 1,032,188     1,065,389                      
Issuance of common stock, net (in shares)   33,201                              
Conversion of DownREIT units to common stock 0 $ 120 3,957     4,077 (4,077)                    
Conversion of DownREIT units to common stock (in shares)   120                              
Repurchase of common stock (9,998) $ (279) (9,719)     (9,998)                      
Repurchase of common stock (in shares)   (279)                              
Exercise of stock options 1,806 $ 54 1,752     1,806                      
Exercise of stock options (in shares)   54                              
Amortization of deferred compensation 10,658   10,658     10,658                      
Common dividends (usd per share) (388,050)     (388,050)   (388,050)                      
Distributions to noncontrolling interests (15,294)           (15,294)                    
Balance at Jun. 30, 2020 7,668,721 $ 538,318 10,222,728 (3,660,187) (2,186) 7,098,673 570,048                    
Balance (in shares) at Jun. 30, 2020   538,318                              
Balance at Mar. 31, 2020 7,813,443 $ 538,135 10,213,011 (3,512,143) (2,495) 7,236,508 576,935                    
Balance (in shares) at Mar. 31, 2020   538,135                              
Increase (Decrease) in Stockholders' Equity                                  
Net income (loss) 55,049     51,506   51,506 3,543                    
Other comprehensive income (loss) 309       309 309                      
Issuance of common stock, net 767 $ 97 670     767                      
Issuance of common stock, net (in shares)   97                              
Conversion of DownREIT units to common stock 0 $ 97 3,471     3,568 (3,568)                    
Conversion of DownREIT units to common stock (in shares)   97                              
Repurchase of common stock (261) $ (11) (250)     (261)                      
Repurchase of common stock (in shares)   (11)                              
Amortization of deferred compensation 5,826   5,826     5,826                      
Common dividends (usd per share) (199,550)     (199,550)   (199,550)                      
Distributions to noncontrolling interests (6,862)           (6,862)                    
Balance at Jun. 30, 2020 $ 7,668,721 $ 538,318 $ 10,222,728 $ (3,660,187) $ (2,186) $ 7,098,673 $ 570,048                    
Balance (in shares) at Jun. 30, 2020   538,318                              
[1]
On January 1, 2019, the Company adopted a series of ASUs related to accounting for leases and recognized the cumulative-effect of adoption to beginning retained earnings. Refer to Note 2 for a detailed impact of adoption.
[2]
On January 1, 2020, the Company adopted a series of Accounting Standards Updates (“ASUs”) related to accounting for credit losses and recognized the cumulative-effect of adoption to beginning retained earnings. Refer to Note 2 for a detailed impact of adoption.