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Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Community base rental income $ 103,157 $ 98,752 $ 305,401 $ 295,185
Rental home income 3,584 3,055 10,576 8,422
Resort base rental income 39,932 36,516 113,868 104,503
Right-to-use annual payments 12,323 12,115 35,889 36,087
Right-to-use contracts current period, gross 3,707 4,494 9,899 9,680
Right-to-use contracts, deferred, net of prior period amortization (1,856) (2,788) (4,446) (4,680)
Utility And Other Income 16,224 15,499 48,694 48,559
Gross revenues from home sales 5,415 1,660 12,328 5,585
Brokered resale revenues and ancillary services revenues, net 1,395 990 4,122 3,211
Interest income 2,200 2,120 6,173 6,132
Income from other investments, net 1,885 2,651 5,989 5,708
Total revenues 187,966 175,064 548,493 518,392
Expenses:        
Property operating and maintenance 61,782 58,586 175,183 168,444
Rental home operating and maintenance 1,950 1,713 5,307 4,407
Real estate taxes 11,584 11,362 35,873 34,729
Sales and marketing, gross 3,842 3,573 9,536 7,848
Sales and marketing, deferred commissions, net (706) (1,277) (1,824) (2,174)
Property management 10,077 9,358 30,380 28,305
Depreciation on real estate and rental homes 26,460 25,579 81,793 76,525
Amortization of Intangible Assets for Continuing Operations 485 7,394 803 38,659
Cost of home sales 5,137 1,804 11,837 6,485
Home selling expenses 563 325 1,544 1,051
General and administrative 7,606 6,402 21,261 19,317
Extinguishment of Debt, Amount 36,530 0 37,911 0
Rent control initiatives and other 521 221 2,377 1,067
Interest and related amortization 29,206 31,508 89,706 93,035
Total expenses 195,037 156,548 501,687 477,698
Income before equity in income of unconsolidated joint ventures (7,071) 18,516 46,806 40,694
Equity income from unconsolidated joint ventures 439 269 1,624 1,524
Consolidated income from continuing operations (6,632) 18,785 48,430 42,218
Net income from discontinued operations 982 2,707 7,215 3,226
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax 40,586 0 41,544 0
Income allocated to non-controlling interest - discontinued operations 41,568 2,707 48,759 3,226
(Income) loss allocated to non-controlling interests - Common OP Units (2,753) (1,503) 7,483 2,891
Net income (loss) available for Common Shares – basic 29,872 16,009 82,755 30,504
Consolidated net income 34,936 21,492 97,189 45,444
Other comprehensive loss:        
Adjustment for fair market value of swap 361 (54) 1,233 (466)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest 35,297 21,438 98,422 44,978
Redeemable Preferred Stock Dividends   (3,980)   12,048
Comprehensive income (loss) attributable to Common Shareholders 30,203 15,960 83,886 30,078
Earnings per Common Share - Basic:        
Income from continuing operations $ (0.10) $ 0.16 $ 0.46 $ 0.33
Income from discontinued operations $ 0.46 $ 0.03 $ 0.54 $ 0.04
Net income available for Common Shares $ 0.36 $ 0.19 $ 1.00 $ 0.37
Earnings per Common Share - Fully Diluted:        
Income from continuing operations $ (0.10) $ 0.16 $ 0.46 $ 0.33
Income from discontinued operations $ 0.46 $ 0.03 $ 0.53 $ 0.04
Net income available for Common Shares $ 0.36 $ 0.19 $ 0.99 $ 0.37
Distributions declared per Common Share outstanding $ 0.25 $ 0.219 $ 0.75 $ 0.656
Weighted average Common Shares outstanding – basic 83,021 82,380 83,023 82,274
Weighted average Common Shares outstanding – fully diluted 91,259 90,894 91,149 90,836
Cumulative SeriesA Eight Point Zero Three Four Percent Redeemable Perpetual Preferred Stock [Member]
       
Other comprehensive loss:        
Redeemable Preferred Stock Dividends 0 (3,393) 0 11,462
Cumulative Series C Six Point Seven Five Percent Redeemable Perpetual Preferred Stock [Member]
       
Other comprehensive loss:        
Redeemable Preferred Stock Dividends (2,311) (587) 6,951 587
Non-controlling interests - Common OP Units
       
Other comprehensive loss:        
Comprehensive income (loss) allocated to non-controlling interests $ (2,783) $ (1,498) $ 7,585 $ 2,851