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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Revenues $ 283,080 $ 294,845 $ 880,561 $ 885,609
Operating expenses        
Rent 2,702 2,764 8,262 8,312
Real estate taxes 37,862 38,363 115,570 115,379
Operating and maintenance 39,265 40,262 123,921 125,539
General and administrative 21,348 21,523 67,775 63,718
Provision for doubtful accounts 1,389 701 4,571 4,201
Impairment charges 3,336 2,944 33,855 34,280
Depreciation and amortization 74,972 88,443 236,114 275,787
Total operating expenses 180,874 195,000 590,068 627,216
Operating income 102,206 99,845 290,493 258,393
Other income/(expense)        
Other income, net 5,219 1,101 14,675 3,813
Interest expense (44,081) (47,258) (140,458) (139,830)
Early extinguishment of debt charges (12,762) (1,753) (12,762) (1,753)
Income from continuing operations before income taxes, net, equity in income of joint ventures, net, gain on change in control of interests and equity in income from other real estate investments, net 50,582 51,935 151,948 120,623
Benefit for income taxes, net 315 697 983 2,224
Equity in income 16,500 9,100 52,486 37,044
Gain on change in control of interests 71,160
Income from continuing operations 72,475 81,683 230,055 293,003
Gain on sale of operating properties/change in control of interests 28,250 40,533 180,461 62,102
Net income 100,725 122,216 410,516 355,105
Net income attributable to noncontrolling interests (567) (1,186) (882) (13,926)
Net income attributable to the Company 100,158 121,030 409,634 341,179
Preferred stock redemption charges (7,014) (7,014)
Preferred dividends (14,534) (12,059) (43,657) (35,169)
Net income available to the Company's common shareholders $ 85,624 $ 101,957 $ 365,977 $ 298,996
Net income available to the Company:        
-Basic (in dollars per share) $ 0.19 $ 0.24 $ 0.86 $ 0.70
-Diluted (in dollars per share) $ 0.19 $ 0.24 $ 0.85 $ 0.70
Weighted average shares:        
-Basic (in shares) 419,230 423,688 421,106 423,574
-Diluted (in shares) [1] 419,764 424,311 422,443 424,193
Joint Ventures [Member]        
Other income/(expense)        
Equity in income $ 16,533 $ 9,142 $ 52,486 $ 37,044
Other Real Estate Investments [Member]        
Other income/(expense)        
Equity in income 5,045 19,909 24,638 61,952
Revenues from Rental Properties [Member]        
Revenues        
Revenues 215,049 225,836 668,115 679,321
Reimbursement Income [Member]        
Revenues        
Revenues 58,007 59,490 182,929 178,590
Other Rental Property Income [Member]        
Revenues        
Revenues 5,643 5,593 16,755 15,242
Management and Other Fee Incomes [Member]        
Revenues        
Revenues $ 4,381 $ 3,926 $ 12,762 $ 12,456
[1] The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 1.3 million and 2.3 million stock options that were not dilutive as of September 30, 2018 and 2017, respectively.