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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Revenues from rental properties $ 289,080 $ 237,432 $ 564,586 $ 456,584
Management and other fee income 4,981 8,526 12,931 17,567
Total revenues 294,061 245,958 577,517 474,151
Operating expenses        
Rent 3,012 3,498 6,566 6,802
Real estate taxes 36,700 30,722 72,772 60,072
Operating and maintenance 36,109 28,981 70,011 55,057
General and administrative expenses 29,307 28,773 62,012 65,893
Provision for doubtful accounts 1,107 1,741 3,404 3,193
Impairment charges 15,459 25,636 21,850 25,797
Depreciation and amortization 80,155 62,117 154,724 118,177
Total operating expenses 201,849 181,468 391,339 334,991
Operating income 92,212 64,490 186,178 139,160
Other income/(expense)        
Mortgage financing income 916 428 2,052 2,127
Interest, dividends and other investment income 32,102 326 32,319 379
Other income/(expense), net 470 (483) (515) (2,912)
Interest expense (56,130) (52,469) (108,708) (102,711)
Income from continuing operations before income taxes, equity in income of joint ventures, gain on change in control of interests and equity in income from other real estate investments 69,570 12,292 111,326 36,043
Benefit/(provision) for income taxes, net 3,628 (940) (9,089) (9,441)
Equity in income of joint ventures, net $ 22,364 45,025 119,914 98,286
Gain on change in control of interests, net   65,598 139,801 69,343
Equity in income of other real estate investments, net $ 5,548 7,014 19,917 10,367
Income from continuing operations $ 101,110 128,989 381,869 204,598
Discontinued operations        
Income/(loss) from discontinued operating properties, net of tax   8,016 (15) 24,437
Impairment/loss on operating properties, net of tax   (65,651) $ (60) (71,159)
Gain on disposition of operating properties, net of tax   20,207   29,545
Loss from discontinued operations   (37,428) $ (75) (17,177)
Gain on sale of operating properties, net of tax $ 26,499 389 58,554 389
Net income 127,609 91,950 440,348 187,810
Net income attributable to noncontrolling interests (609) (2,438) (3,006) (11,298)
Net income attributable to the Company 127,000 89,512 437,342 176,512
Preferred dividends (14,573) (14,573) (29,146) (29,147)
Net income available to the Company's common shareholders $ 112,427 $ 74,939 $ 408,196 $ 147,365
Income from continuing operations:        
- Basic $ 0.27 $ 0.28 $ 0.99 $ 0.42
-Diluted 0.27 0.27 0.98 0.42
Net income attributable to the Company:        
-Basic 0.27 0.18 0.99 0.36
-Diluted $ 0.27 $ 0.18 $ 0.98 $ 0.36
Weighted average shares:        
- Basic 411,317 408,902 411,057 408,636
-Diluted 413,086 413,344 413,148 410,409
Amounts attributable to the Company's common shareholders:        
Income from continuing operations $ 112,427 $ 113,182 $ 408,271 $ 171,971
Loss from discontinued operations   (38,243) (75) (24,606)
Net income $ 112,427 $ 74,939 $ 408,196 $ 147,365