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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
REVENUES      
Rental income $ 2,422,233 $ 2,736,578 $ 2,605,311
Fee and asset management 3,567 8,387 9,437
Total revenues 2,425,800 2,744,965 2,614,748
EXPENSES      
Property and maintenance 406,823 479,160 473,098
Real estate taxes and insurance 317,387 339,802 325,401
Property management 82,015 86,206 85,065
General and administrative 57,840 64,664 50,679
Depreciation 705,649 765,895 758,861
Total expenses 1,569,714 1,735,727 1,693,104
Operating income 856,086 1,009,238 921,644
Interest and other income 65,773 7,372 4,462
Other expenses (10,368) (2,942) (9,073)
Interest:      
Expense incurred, net (482,246) (444,487) (457,460)
Amortization of deferred financing costs (12,633) (10,801) (11,088)
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations 416,612 558,380 448,485
Income and other tax (expense) benefit (1,613) (917) (1,394)
Income (loss) from investments in unconsolidated entities 4,801 15,025 (7,952)
Net gain on sales of real estate properties 4,044,055 335,134 212,685
Net gain (loss) on sales of land parcels 15,731 (1) 5,277
Income from continuing operations 4,479,586 907,621 657,101
Discontinued operations, net 518 397 1,582
Net income 4,480,104 908,018 658,683
Net (income) attributable to Noncontrolling Interests:      
Operating Partnership (171,511) (34,241) (24,831)
Partially Owned Properties (16,430) (3,657) (2,544)
Net income attributable to controlling interests 4,292,163 870,120 631,308
Preferred distributions (3,091) (3,357) (4,145)
Premium on redemption of Preferred Shares 0 (3,486) 0
Net income available to Common Shares $ 4,289,072 $ 863,277 $ 627,163
Earnings per share – basic:      
Income from continuing operations available to Common Shares $ 11.75 $ 2.37 $ 1.73
Net income available to Common Shares $ 11.75 $ 2.37 $ 1.74
Weighted average Common Shares outstanding 365,002 363,498 361,181
Earnings per share – diluted:      
Income from continuing operations available to Common Shares $ 11.68 $ 2.36 $ 1.72
Net income available to Common Shares $ 11.68 $ 2.36 $ 1.73
Weighted average Common Shares outstanding 381,992 380,620 377,735
Distributions declared per Common Share outstanding $ 13.015 $ 2.210 $ 2.000