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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Rental and other income $ 500,840 $ 454,517 $ 1,007,814 $ 894,273
Management, development and other fees 1,467 2,942 2,990 5,553
Total revenue 502,307 457,459 1,010,804 899,826
Expenses:        
Operating expenses, excluding property taxes 118,903 112,069 235,530 224,845
Property taxes 51,107 45,913 101,174 93,089
Interest expense, net 46,581 44,590 89,991 90,164
Loss (gain) on extinguishment of debt, net 2,461 (7,749) 2,461 (7,749)
Depreciation expense 132,469 118,627 259,685 235,480
General and administrative expense 12,011 10,335 23,414 20,803
Expensed acquisition, development and other pursuit costs, net of recoveries 1,436 673 4,897 1,860
Casualty and impairment (gain) loss, net 1,732 17,114 3,935 11,326
Total expenses 363,236 307,344 713,217 647,166
Equity in income of unconsolidated real estate entities 27,151 13,806 55,120 48,371
Gain on sale of other real estate 30,990 0 82,420 70,936
Gain on sale of communities 143 9,625 143 9,647
Income before taxes 197,355 173,546 435,270 381,614
Income tax expense 36 1,293 73 1,308
Net income 197,319 172,253 435,197 380,306
Net loss attributable to noncontrolling interests 125 71 180 163
Net income attributable to common stockholders 197,444 172,324 435,377 380,469
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent (26,788) (6) (74,545) (36)
Other comprehensive income (loss):        
Cash flow hedge losses reclassified to earnings 1,561 1,433 2,935 3,028
Comprehensive income $ 172,217 $ 173,751 $ 363,767 $ 383,461
Earnings per common share - basic:        
Net income attributable to common stockholders (in dollars per share) $ 1.44 $ 1.30 $ 3.17 $ 2.88
Earnings per common share - diluted:        
Net income attributable to common stockholders (in dollars per share) 1.44 1.29 3.17 2.86
Dividends per common share (in dollars per share) $ 1.35 $ 1.25 $ 2.70 $ 2.50