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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenue:    
Rental and other income $ 559,906 $ 521,126
Management, development and other fees 886 1,200
Total revenue 560,792 522,326
Expenses:    
Operating expenses, excluding property taxes 132,024 123,044
Property taxes 59,896 52,930
Interest expense, net 55,113 49,295
Loss on extinguishment of debt, net 397 0
Depreciation expense 159,059 140,621
General and administrative expense 13,664 13,206
Expensed acquisition, development and other pursuit costs, net of recoveries 800 728
Casualty and impairment (gain) loss, net 58 (11,688)
Total expenses 420,895 391,512
Income before equity in income of unconsolidated real estate entities, gain (loss) on sale of communities and other real estate, and income taxes 139,897 130,814
Equity in income of unconsolidated real estate entities 1,740 16,672
Gain on sale of communities 0 87,949
(Loss) gain on other real estate transactions (47) 366
Income before income taxes 141,590 235,801
Income tax expense 0 20
Net income 141,590 235,781
Net loss attributable to noncontrolling interests 53 94
Net income attributable to common stockholders 141,643 235,875
Other comprehensive income:    
Gain on cash flow hedges 11,501 145
Cash flow hedge losses reclassified to earnings 1,756 1,752
Comprehensive income $ 154,900 $ 237,772
Earnings per common share - basic:    
Net income attributable to common stockholders (in dollars per share) $ 1.03 $ 1.72
Earnings per common share - diluted:    
Net income attributable to common stockholders (in dollars per share) 1.03 1.72
Dividends per common share (in dollars per share) $ 1.47 $ 1.42