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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Resident fees and services $ 1,393,473 $ 1,159,449 $ 2,753,747 $ 2,291,134
Rental income   335,811 383,439 753,463 767,498
Interest income 63,453 38,710 116,117 75,115
Other income 32,147 83,880 61,298 92,460
Total revenues 1,824,884 1,665,478 3,684,625 3,226,207
Expenses:        
Property operating expenses 1,111,297 958,672 2,208,210 1,916,425
Depreciation and amortization 382,045 341,945 747,908 681,057
Interest expense 133,424 152,337 280,742 296,740
General and administrative expenses 55,565 44,287 108,883 88,658
Loss (gain) on derivatives and financial instruments, net (5,825) 1,280 (8,879) 2,210
Loss (gain) on extinguishment of debt, net 1,705 1 1,711 6
Provision for loan losses, net 5,163 2,456 6,177 3,233
Impairment of assets 2,394 1,086 45,725 13,715
Other expenses 48,684 11,069 62,815 33,814
Total expenses 1,734,452 1,513,133 3,453,292 3,035,858
Income (loss) from continuing operations before income taxes and other items 90,432 152,345 231,333 190,349
Income tax (expense) benefit (1,101) (3,503) (7,292) (6,548)
Income (loss) from unconsolidated entities 4,896 (40,332) (2,887) (47,403)
Gain (loss) on real estate dispositions, net 166,443 (2,168) 171,150 (1,421)
Income (loss) from continuing operations 260,670 106,342 392,304 134,977
Net income (loss) 260,670 106,342 392,304 134,977
Less: Net income (loss) attributable to noncontrolling interests [1] 5,956 3,302 10,444 6,264
Net income (loss) attributable to common stockholders $ 254,714 $ 103,040 $ 381,860 $ 128,713
Weighted average number of common shares outstanding:        
Basic (in shares) 600,545 499,023 587,297 495,561
Diluted (in shares) 604,563 501,970 591,047 498,305
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.43 $ 0.21 $ 0.67 $ 0.27
Net income (loss) attributable to common stockholders (in dollars per share) 0.42 0.21 0.65 0.26
Diluted:        
Income (loss) from continuing operations (in dollars per share) 0.43 0.21 0.66 0.27
Net income (loss) attributable to common stockholders (in dollars per share) [2] 0.42 0.20 0.65 0.26
Dividends declared and paid per common share (in dollars per share) [3] $ 0.61 $ 0.61 $ 1.22 $ 1.22
Net income (loss) $ 260,670 $ 106,342 $ 392,304 $ 134,977
Other comprehensive income (loss):        
Foreign currency translation gain (loss) (28,340) 119,519 (114,170) 200,284
Derivative and financial instruments designated as hedges gain (loss) 9,096 (85,884) 69,711 (155,622)
Total other comprehensive income (loss) (19,244) 33,635 (44,459) 44,662
Total comprehensive income (loss) 241,426 139,977 347,845 179,639
Less: Total comprehensive income (loss) attributable to noncontrolling interests [4] 5,258 8,286 2,208 14,127
Total comprehensive income (loss) attributable to common stockholders $ 236,168 $ 131,691 $ 345,637 $ 165,512
[1] Includes amounts attributable to redeemable noncontrolling interests.
[2] Includes adjustment to the numerator for income (loss) attributable to OP Units and DownREIT Units.
(3) In June, the Board approved to increase the dividend to $0.67 beginning in the third quarter.
[3] ) In June, the Board approved to increase the dividend to $0.67 beginning in the third quarter.
[4]
(1) Includes amounts attributable to redeemable noncontrolling interests.