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Consolidated Statements of Income - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Resident fees and services $ 3,234,852,000 $ 2,779,423,000 $ 2,504,731,000
Rental income 1,380,422,000 1,445,871,000 1,648,815,000
Interest income 55,814,000 73,811,000 97,963,000
Other income 29,411,000 17,536,000 29,651,000
Total revenues 4,700,499,000 4,316,641,000 4,281,160,000
Expenses:      
Property operating expenses 2,433,017,000 2,083,925,000 1,876,983,000
Depreciation and amortization 950,459,000 921,720,000 901,242,000
Interest expense 526,592,000 484,622,000 521,345,000
General and administrative expenses 126,383,000 122,008,000 155,241,000
Transaction costs 0 0 42,910,000
Loss (gain) on derivatives and financial instruments, net (4,016,000) 2,284,000 (2,448,000)
Loss (gain) on extinguishment of debt, net 16,097,000 37,241,000 17,214,000
Provision for loan losses 0 62,966,000 10,215,000
Impairment of assets 115,579,000 124,483,000 37,207,000
Other expenses 112,898,000 177,776,000 11,998,000
Total expenses 4,277,009,000 4,017,025,000 3,571,907,000
Income from continuing operations before income taxes and other items 423,490,000 299,616,000 709,253,000
Income tax (expense) benefit (8,674,000) (20,128,000) 19,128,000
Income (loss) from unconsolidated entities (641,000) (83,125,000) (10,357,000)
Gain (loss) on real estate dispositions, net 415,575,000 344,250,000 364,046,000
Income from continuing operations 829,750,000 540,613,000 1,082,070,000
Net income 829,750,000 540,613,000 1,082,070,000
Less: Preferred stock dividends 46,704,000 49,410,000 65,406,000
Less: Preferred stock redemption charge 0 9,769,000 0
Less: Net income (loss) attributable to noncontrolling interests [1] 24,796,000 17,839,000 4,267,000
Net income attributable to common stockholders $ 758,250,000 $ 463,595,000 $ 1,012,397,000
Average number of common shares outstanding:      
Basic (in shares) 373,620 367,237 358,275
Diluted (in shares) 375,250 369,001 360,227
Basic:      
Income from continuing operations (in USD per share) $ 2.22 $ 1.47 $ 3.02
Net income attributable to common stockholders (in USD per share) 2.03 1.26 2.83
Diluted:      
Income from continuing operations (in USD per share) 2.21 1.47 3.00
Net income attributable to common stockholders (in USD per share) $ 2.02 $ 1.26 $ 2.81
[1] Includes amounts attributable to redeemable noncontrolling interests