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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES      
Rental income $ 2,873,964 $ 2,735,180 $ 2,463,997
EXPENSES      
Property and maintenance 514,575 483,865 453,532
Real estate taxes and insurance 412,114 388,412 397,105
Property management 119,804 110,304 98,155
General and administrative 60,716 58,710 56,506
Depreciation 888,709 882,168 838,272
Total expenses 1,995,918 1,923,459 1,843,570
Net gain (loss) on sales of real estate properties 282,539 304,325 1,072,183
Impairment     (16,769)
Operating income 1,160,585 1,116,046 1,675,841
Interest and other income 22,345 2,193 25,666
Other expenses (29,419) (13,664) (19,275)
Interest:      
Expense incurred, net (269,556) (282,920) (272,473)
Amortization of deferred financing costs (8,941) (8,729) (8,737)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 875,014 812,926 1,401,022
Income and other tax (expense) benefit (1,148) (900) (915)
Income (loss) from investments in unconsolidated entities (5,378) (5,031) (3,398)
Net gain (loss) on sales of land parcels     5
Net income 868,488 806,995 1,396,714
Net (income) loss attributable to Noncontrolling Interests:      
Operating Partnership (26,710) (26,310) (45,900)
Partially Owned Properties (6,340) (3,774) (17,964)
Net income attributable to controlling interests 835,438 776,911 1,332,850
Preferred distributions (3,090) (3,090) (3,090)
Net income available to Common Shares $ 832,348 $ 773,821 $ 1,329,760
Earnings per share – basic:      
Net income available to Common Shares $ 2.2 $ 2.06 $ 3.56
Weighted average Common Shares outstanding 378,773 376,209 373,833
Earnings per share – diluted:      
Net income available to Common Shares $ 2.2 $ 2.05 $ 3.54
Weighted average Common Shares outstanding 390,897 389,450 388,089