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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Resident fees and services $ 1,511,524 $ 1,199,808 $ 4,265,271 $ 3,490,942
Rental income   430,486 384,507 1,183,949 1,152,005
Interest income 69,046 42,220 185,163 117,335
Other income 44,607 35,478 105,905 127,938
Total revenues 2,055,663 1,662,013 5,740,288 4,888,220
Expenses:        
Property operating expenses 1,212,701 995,273 3,420,911 2,911,698
Depreciation and amortization 403,779 339,314 1,151,687 1,020,371
Interest expense 139,050 156,532 419,792 453,272
General and administrative expenses 77,901 46,106 186,784 134,764
Loss (gain) on derivatives and financial instruments, net (9,906) 2,885 (18,785) 5,095
Loss (gain) on extinguishment of debt, net 419 1 2,130 7
Provision for loan losses, net 4,193 4,059 10,370 7,292
Impairment of assets 23,421 7,388 69,146 21,103
Other expenses 20,239 38,220 83,054 72,034
Total expenses 1,871,797 1,589,778 5,325,089 4,625,636
Income (loss) from continuing operations before income taxes and other items 183,866 72,235 415,199 262,584
Income tax (expense) benefit 4,706 (4,584) (2,586) (11,132)
Income (loss) from unconsolidated entities (4,038) (4,031) (6,925) (51,434)
Income (loss) from continuing operations 456,800 134,722 849,104 269,699
Net income (loss) 456,800 134,722 849,104 269,699
Less: Net income (loss) attributable to noncontrolling interests [1] 6,951 7,252 17,395 13,516
Net income (loss) attributable to common stockholders $ 449,849 $ 127,470 $ 831,709 $ 256,183
Weighted average number of common shares outstanding:        
Basic (in shares) 611,290 521,848 595,353 504,420
Diluted (in shares) 618,306 525,138 600,191 507,353
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.75 $ 0.26 $ 1.43 $ 0.53
Net income (loss) attributable to common stockholders (in dollars per share) 0.74 0.24 1.40 0.51
Diluted:        
Income (loss) from continuing operations (in dollars per share) 0.74 0.26 1.41 0.53
Net income (loss) attributable to common stockholders (in dollars per share) [2] 0.73 0.24 1.39 0.50
Dividends declared and paid per common share (in dollars per share) $ 0.67 $ 0.61 $ 1.89 $ 1.83
Net income (loss) $ 456,800 $ 134,722 $ 849,104 $ 269,699
Other comprehensive income (loss):        
Foreign currency translation gain (loss) 247,194 (165,186) 133,024 35,098
Derivative and financial instruments designated as hedges gain (loss) (194,988) 106,449 (125,277) (49,173)
Total other comprehensive income (loss) 52,206 (58,737) 7,747 (14,075)
Total comprehensive income (loss) 509,006 75,985 856,851 255,624
Less: Total comprehensive income (loss) attributable to noncontrolling interests [3] 7,730 2,283 9,938 16,410
Total comprehensive income (loss) attributable to common stockholders $ 501,276 $ 73,702 $ 846,913 $ 239,214
[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]
(1) Includes amounts attributable to redeemable noncontrolling interests.