XML 63 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES    
Rental income$ 509,030$ 451,832$ 1,470,398$ 1,311,377
Fee and asset management2,9282,1286,6827,596
Total revenues511,958453,9601,477,0801,318,973
EXPENSES    
Property and maintenance106,635104,259314,768303,916
Real estate taxes and insurance59,08356,205168,056160,307
Property management19,24119,01462,38959,770
Fee and asset management1,2506793,2074,242
Depreciation164,552158,318482,039457,822
General and administrative10,12110,22132,46231,029
Total expenses360,882348,6961,062,9211,017,086
Operating income151,076105,264414,159301,887
Interest and other income5,3172016,6085,045
Other expenses(2,528)(3,487)(9,318)(9,513)
Interest:    
Expense incurred, net(113,370)(121,116)(354,960)(348,279)
Amortization of deferred financing costs(4,721)(2,437)(12,129)(7,729)
Income (loss) before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of unconsolidated entities and land parcels and discontinued operations35,774(21,575)44,360(58,589)
Income and other tax (expense) benefit(283)(291)(669)(283)
(Loss) income from investments in unconsolidated entities 188 (735)
Net gain on sales of unconsolidated entities 22,544 28,101
Net gain (loss) on sales of land parcels (1,161)4,217(1,161)
Income (loss) from continuing operations35,491(295)47,908(32,667)
Discontinued operations, net77,48630,121779,888130,438
Net income112,97729,826827,79697,771
Net (income) loss attributable to Noncontrolling Interests:    
Operating Partnership(4,742)(1,231)(36,275)(4,167)
Partially Owned Properties(387)188(418)623
Net income attributable to controlling interests107,84828,783791,10394,227
Preferred distributions(3,466)(3,617)(10,399)(10,855)
Net income available to Common Shares$ 104,382$ 25,166$ 780,704$ 83,372
Earnings per share - basic:    
Income (loss) from continuing operations available to Common Shares$ 0.10$ (0.01)$ 0.12$ (0.15)
Net income available to Common Shares$ 0.35$ 0.09$ 2.65$ 0.30
Weighted average Common Shares outstanding295,831282,717294,474281,867
Earnings per share - diluted:    
Income (loss) from continuing operations available to Common Shares$ 0.10$ (0.01)$ 0.12$ (0.15)
Net income available to Common Shares$ 0.35$ 0.09$ 2.62$ 0.30
Weighted average Common Shares outstanding312,844282,717311,908281,867
Distributions declared per Common Share outstanding$ 0.3375$ 0.3375$ 1.0125$ 1.0125