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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Rental income $ 639,620 $ 612,299 $ 1,272,451 $ 1,216,219
Total revenues 639,808 612,480 1,272,824 1,216,580
EXPENSES        
Property and maintenance 103,744 99,316 211,946 201,924
Real estate taxes and insurance 89,482 87,503 181,396 169,231
General and administrative 12,502 13,626 28,780 27,799
Depreciation 192,942 179,896 389,251 358,864
Total expenses 422,154 401,930 858,301 801,659
Operating income 217,654 210,550 414,523 414,921
Interest and other income 1,116 1,162 6,996 1,763
Other expenses (3,769) (1,042) (7,210) (2,132)
Interest:        
Expense incurred, net (94,131) (91,224) (210,235) (197,434)
Amortization of deferred financing costs (2,099) (2,087) (5,778) (4,383)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of real estate properties and land parcels 118,771 117,359 198,296 212,735
Income and other tax (expense) benefit (274) (220) (487) (482)
Income (loss) from investments in unconsolidated entities (1,031) (682) (2,008) (1,755)
Net gain (loss) on sales of real estate properties (51) 87,726 142,162 124,433
Net gain (loss) on sales of land parcels 995 (23) 995 19,170
Net income 118,410 204,160 338,958 354,101
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (4,299) (7,354) (12,358) (12,765)
Partially Owned Properties (509) (765) (1,189) (1,553)
Net income attributable to controlling interests 113,602 196,041 325,411 339,783
Preferred distributions (772) (773) (1,545) (1,546)
Net income available to Common Shares $ 112,830 $ 195,268 $ 323,866 $ 338,237
Earnings per share – basic:        
Net income available to Common Shares $ 0.31 $ 0.53 $ 0.88 $ 0.92
Weighted average Common Shares outstanding 367,930 366,820 367,865 366,713
Earnings per share – diluted:        
Net income available to Common Shares $ 0.31 $ 0.53 $ 0.88 $ 0.92
Weighted average Common Shares outstanding 383,423 382,692 383,224 382,505
Distributions declared per Common Share outstanding $ 0.54 $ 0.50375 $ 1.08 $ 1.0075
Fee and asset management        
REVENUES        
Fee and asset management $ 188 $ 181 $ 373 $ 361
Property management        
EXPENSES        
Property and maintenance $ 23,484 $ 21,589 $ 46,928 $ 43,841