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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenue:      
Rental and other income $ 1,846,081 $ 1,674,011 $ 1,451,419
Management, development and other fees 9,947 11,050 11,502
Total revenue 1,856,028 1,685,061 1,462,921
Expenses:      
Operating expenses, excluding property taxes 448,747 410,672 352,245
Property taxes 193,499 178,634 158,774
Interest expense, net 175,615 180,618 172,402
(Gain) loss on extinguishment of debt, net (26,736) 412 14,921
Loss on interest rate contract 0 0 51,000
Depreciation expense 477,923 442,682 560,215
General and administrative expense 42,396 41,425 39,573
Expensed acquisition, development and other pursuit costs, net of recoveries 6,822 (3,717) 45,050
Casualty (gain) loss and impairment loss, net (10,542) 0 0
Total expenses 1,307,724 1,250,726 1,394,180
Equity in income (loss) of unconsolidated entities 70,018 148,766 (11,154)
Gain on sale of real estate 9,647 490 240
Gain on sale of communities 115,625 84,925 0
Income from continuing operations before taxes 743,594 668,516 57,827
Income tax expense 1,861 9,368 0
Income from continuing operations 741,733 659,148 57,827
Discontinued operations:      
Income from discontinued operations 0 310 16,713
Gain on sale of discontinued operations 0 37,869 278,231
Total discontinued operations 0 38,179 294,944
Net income 741,733 697,327 352,771
Net loss (income) attributable to noncontrolling interests 305 (13,760) 370
Net income attributable to common stockholders 742,038 683,567 353,141
Other comprehensive income:      
Unrealized gain (loss) on cash flow hedges 5,354 (121) 0
Cash flow hedge losses reclassified to earnings 5,774 6,237 59,376
Comprehensive income $ 753,166 $ 689,683 $ 412,517
Earnings per common share—basic:      
Income (loss) from continuing operations attributable to common stockholders (in dollars per share) $ 5.54 $ 4.93 $ 0.46
Discontinued operations attributable to common stockholders (in dollars per share) 0.00 0.29 2.32
Net income attributable to common stockholders (in dollars per share) 5.54 5.22 2.78
Earnings per common share—diluted:      
Income (loss) from continuing operations attributable to common stockholders (in dollars per share) 5.51 4.92 0.46
Discontinued operations attributable to common stockholders (in dollars per share) 0.00 0.29 2.32
Net income attributable to common stockholders (in dollars per share) $ 5.51 $ 5.21 $ 2.78