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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Resident fees and services $ 1,864,530 $ 1,360,274
Rental income   461,567 417,652
Interest income 62,490 52,664
Other income 34,500 29,151
Total revenues 2,423,087 1,859,741
Expenses:    
Property operating expenses 1,462,390 1,096,913
Depreciation and amortization 485,869 365,863
Interest expense 144,962 147,318
General and administrative expenses 63,758 53,318
Loss (gain) on derivatives and financial instruments, net (3,210) (3,054)
Loss (gain) on extinguishment of debt, net 6,156 6
Provision for loan losses, net (2,007) 1,014
Impairment of assets 52,402 43,331
Other expenses 14,060 14,131
Total expenses 2,224,380 1,718,840
Income (loss) from continuing operations before income taxes and other items 198,707 140,901
Income tax (expense) benefit 5,519 (6,191)
Income (loss) from unconsolidated entities 1,263 (7,783)
Gain (loss) on real estate dispositions and acquisitions of controlling interests, net 51,777 4,707
Income (loss) from continuing operations 257,266 131,634
Net income (loss) 257,266 131,634
Less: Net income (loss) attributable to noncontrolling interests [1] (691) 4,488
Net income (loss) attributable to common stockholders $ 257,957 $ 127,146
Weighted average number of common shares outstanding:    
Basic (in shares) 643,393 574,049
Diluted (in shares) 653,795 577,530
Basic:    
Income (loss) from continuing operations (in dollars per share) $ 0.40 $ 0.23
Net income (loss) attributable to common stockholders (in dollars per share) 0.40 0.22
Diluted:    
Income (loss) from continuing operations (in dollars per share) 0.39 0.23
Diluted earnings per share (in dollars per share) [2] 0.40 0.22
Dividends declared and paid per common share (in dollars per share) $ 0.67 $ 0.61
Net income (loss) $ 257,266 $ 131,634
Other comprehensive income (loss):    
Foreign currency translation gain (loss) 168,537 (85,830)
Derivative and financial instruments designated as hedges gain (loss) (118,291) 60,615
Total other comprehensive income (loss) 50,246 (25,215)
Total comprehensive income (loss) 307,512 106,419
Less: Total comprehensive income (loss) attributable to noncontrolling interests [3] (629) (3,050)
Total comprehensive income (loss) attributable to common stockholders $ 308,141 $ 109,469
[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.