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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Rental income $ 1,118,601 $ 1,032,575 $ 923,743
Other income 56,144 50,298 46,008
Interest income 7,430 7,016 7,154
Income from other investments, net 8,553 4,555 4,026
Total revenues 1,447,080 1,316,403 1,118,803
Expenses:      
Property operating and maintenance 443,157 398,983 354,340
Real estate taxes 74,145 72,671 66,120
Sales and marketing, gross 23,513 23,743 17,332
Membership sales commissions, deferred, net (3,196) (5,075) (1,660)
Depreciation and amortization 202,362 188,444 155,131
Home selling expenses and ancillary operating expenses 27,321 23,538 18,500
General and administrative 44,857 39,576 39,276
Casualty-related charges/(recoveries), net 0 0 0
Other expenses 8,646 4,241 2,567
Early debt retirement 1,156 2,784 10,786
Interest and related amortization 116,562 108,718 102,771
Total expenses 1,151,618 1,044,225 882,786
Gain (loss) on sale of real estate and impairment, net 0 (59) 0
Income before equity in income of unconsolidated joint ventures 295,462 272,119 236,017
Equity in income of unconsolidated joint ventures 3,363 3,881 5,399
Consolidated net income 298,825 276,000 241,416
Income allocated to non-controlling interests – Common OP Units (14,198) (13,522) (13,132)
Net income available for Common Stockholders 284,611 262,462 228,268
Other comprehensive income (loss):      
Adjustment for fair market value of swap 15,595 3,524 380
Consolidated comprehensive income 314,420 279,524 241,796
Comprehensive income allocated to non-controlling interests – Common OP Units (15,005) (13,692) (13,154)
Comprehensive income attributable to Common Stockholders $ 299,399 $ 265,816 $ 228,626
Earnings per Common Share – Basic (usd per share) $ 1.53 $ 1.43 $ 1.26
Earnings per Common Share – Fully Diluted (usd per share) $ 1.53 $ 1.43 $ 1.25
Weighted average Common Shares outstanding – Basic (shares) 185,780 182,917 181,828
Weighted average Common Shares outstanding – Fully Diluted (shares) 195,255 192,883 192,555
Redeemable Perpetual Preferred  Stock      
Expenses:      
Redeemable perpetual preferred stock dividends $ (16) $ (16) $ (16)
Other comprehensive income (loss):      
Redeemable perpetual preferred stock dividends (16) (16) (16)
Annual membership subscriptions      
Revenues:      
Revenue from contract with customer 63,215 58,251 53,085
Membership upgrade sales current period, gross      
Revenues:      
Revenue from contract with customer 34,661 36,270 21,739
Membership upgrade sales upfront payments, deferred, net      
Revenues:      
Revenue from contract with customer (21,703) (25,079) (12,062)
Gross revenues from home sales, brokered resales and ancillary services      
Revenues:      
Revenue from contract with customer 180,179 152,517 75,110
Expenses:      
Cost of goods and services sold 139,012 120,623 59,656
Property management      
Expenses:      
Cost of goods and services sold $ 74,083 $ 65,979 $ 57,967