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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, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Community base rental income $ 106,967 $ 103,157 $ 319,514 $ 305,401
Rental home income 3,684 3,584 11,187 10,576
Resort base rental income 44,351 39,932 126,188 113,868
Right-to-use annual payments 11,404 12,323 33,859 35,889
Right-to-use contracts current period, gross 3,944 3,707 9,956 9,899
Right-to-use contracts, deferred, net of prior period amortization (1,989) (1,856) (4,303) (4,446)
Utility And Other Income 18,581 16,224 53,070 48,694
Gross revenues from home sales 8,717 5,415 20,455 12,328
Brokered resale revenues and ancillary services revenues, net 1,124 1,395 3,491 4,122
Interest income 1,902 2,200 6,477 6,173
Income from other investments, net 1,869 1,885 6,098 5,989
Total revenues 200,554 187,966 585,992 548,493
Expenses:        
Property operating and maintenance 66,105 61,782 186,018 175,183
Rental home operating and maintenance 1,829 1,950 5,376 5,307
Real estate taxes 12,263 11,584 36,905 35,873
Sales and marketing, gross 3,018 3,842 8,118 9,536
Sales and marketing, deferred commissions, net (757) (706) (2,022) (1,824)
Property management 11,086 10,077 32,169 30,380
Depreciation on real estate and rental homes 27,831 26,460 83,234 81,793
Amortization of Intangible Assets for Continuing Operations 1,075 485 3,791 803
Cost of home sales 8,156 5,137 19,679 11,837
Home selling expenses 513 563 1,710 1,544
General and administrative 7,623 7,606 20,178 21,261
Extinguishment of Debt, Amount 5,087 36,530 5,087 37,911
Rent control initiatives and other 751 521 2,063 2,377
Interest and related amortization 27,864 29,206 84,177 89,706
Total expenses 172,444 195,037 486,483 501,687
Income before equity in income of unconsolidated joint ventures 28,110 (7,071) 99,509 46,806
Equity income from unconsolidated joint ventures 1,237 439 3,768 1,624
Gain (Loss) on Condemnation 929 0 929 0
Consolidated income from continuing operations 30,276 (6,632) 104,206 48,430
Net income from discontinued operations 0 982 0 7,215
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax 0 40,586 0 41,544
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 0 41,568 0 48,759
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Redeemable (2,219) (2,753) (7,929) (7,483)
Net income (loss) available for Common Shares – basic 25,746 29,872 89,328 82,755
Consolidated net income 30,276 34,936 104,206 97,189
Other comprehensive loss:        
Adjustment for fair market value of swap 141 361 1,068 1,233
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest 30,417 35,297 105,274 98,422
Comprehensive income (loss) attributable to Common Shareholders 25,876 30,203 90,309 83,886
Earnings per Common Share - Basic:        
Income from continuing operations $ 0.31 $ (0.10) $ 1.07 $ 0.46
Income from discontinued operations $ 0.00 $ 0.46 $ 0.00 $ 0.54
Net income available for Common Shares $ 0.31 $ 0.36 $ 1.07 $ 1.00
Earnings per Common Share - Fully Diluted:        
Income from continuing operations $ 0.31 $ (0.10) $ 1.06 $ 0.46
Income from discontinued operations $ 0.00 $ 0.46 $ 0.00 $ 0.53
Net income available for Common Shares $ 0.31 $ 0.36 $ 1.06 $ 0.99
Distributions declared per Common Share outstanding $ 0.325 $ 0.25 $ 0.975 $ 0.75
Weighted average Common Shares outstanding – basic 83,531 83,021 83,295 83,023
Weighted average Common Shares outstanding – fully diluted 91,528 91,259 91,471 91,149
Cumulative Series C Six Point Seven Five Percent Redeemable Perpetual Preferred Stock [Member]
       
Other comprehensive loss:        
Redeemable Preferred Stock Dividends (2,311) (2,311) (6,949) (6,951)
Non-controlling interests - Common OP Units
       
Other comprehensive loss:        
Comprehensive income (loss) allocated to non-controlling interests $ (2,230) $ (2,783) $ (8,016) $ (7,585)