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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Rental income $ 695,099 $ 623,206 $ 2,035,477 $ 1,818,867
EXPENSES        
Property and maintenance 124,048 116,461 365,277 341,261
Real estate taxes and insurance 100,361 96,909 302,899 297,780
Property management 25,729 23,772 83,035 74,357
General and administrative 13,372 13,041 47,033 43,102
Depreciation 214,129 215,397 667,896 616,032
Total expenses 477,639 465,580 1,466,140 1,372,532
Net gain (loss) on sales of real estate properties 196,551 363,928 304,346 587,623
Operating income 414,011 521,554 873,683 1,033,958
Interest and other income 720 973 4,844 25,293
Other expenses (3,755) (3,456) (9,191) (10,908)
Interest:        
Expense incurred, net (72,412) (68,251) (217,093) (202,733)
Amortization of deferred financing costs (2,220) (2,048) (6,421) (6,172)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 336,344 448,772 645,822 839,438
Income and other tax (expense) benefit (152) (284) (725) (679)
Income (loss) from investments in unconsolidated entities (1,027) (1,156) (3,456) (3,028)
Net gain (loss) on sales of land parcels       5
Net income 335,165 447,332 641,641 835,736
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (10,997) (14,847) (21,024) (27,903)
Partially Owned Properties (1,143) (534) (2,726) (1,957)
Net income attributable to controlling interests 323,025 431,951 617,891 805,876
Preferred distributions (773) (773) (2,318) (2,318)
Net income available to Common Shares $ 322,252 $ 431,178 $ 615,573 $ 803,558
Earnings per share – basic:        
Net income available to Common Shares $ 0.86 $ 1.15 $ 1.64 $ 2.15
Weighted average Common Shares outstanding 375,850 374,308 375,710 373,474
Earnings per share – diluted:        
Net income available to Common Shares $ 0.86 $ 1.15 $ 1.63 $ 2.14
Weighted average Common Shares outstanding 389,300 388,374 389,394 387,642