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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue:        
Rental and other income $ 568,285 $ 529,414 $ 1,128,191 $ 1,050,539
Total revenue 569,239 530,512 1,130,032 1,052,837
Expenses:        
Operating expenses, excluding property taxes 131,759 126,687 263,784 249,730
Property taxes 59,994 53,566 119,891 106,497
Interest expense, net 56,585 50,102 111,698 99,397
Loss on extinguishment of debt, net 642 24,162 1,039 24,162
Depreciation expense 156,685 141,439 315,743 282,060
General and administrative expense 14,444 13,947 28,108 27,153
Expensed acquisition, development and other pursuit costs, net of recoveries 889 570 1,689 1,298
Casualty and impairment (gain) loss, net 0 0 58 (11,688)
Total expenses 420,998 410,473 841,894 801,985
Income before equity in income of unconsolidated real estate entities, gain on sale of communities and other real estate, and income taxes 148,241 120,039 288,138 250,852
Equity in income of unconsolidated real estate entities 789 1,146 2,529 17,819
Gain on sale of communities 105,201 44,067 105,201 132,016
Gain on other real estate transactions, net 370 0 323 366
Income before income taxes 254,601 165,252 396,191 401,053
Income tax expense 58 58 58 78
Net income 254,543 165,194 396,133 400,975
Net loss attributable to noncontrolling interests 119 31 172 125
Net income attributable to common stockholders 254,662 165,225 396,305 401,100
Other comprehensive income:        
(Loss) gain on cash flow hedges 0 (16,158) 11,499 (16,013)
Cash flow hedge losses reclassified to earnings 1,455 1,781 3,213 3,534
Comprehensive income $ 256,117 $ 150,848 $ 411,017 $ 388,621
Earnings per common share - basic:        
Net income attributable to common stockholders (in dollars per share) $ 1.84 $ 1.20 $ 2.87 $ 2.91
Earnings per common share - diluted:        
Net income attributable to common stockholders (in dollars per share) 1.84 1.20 2.87 2.91
Dividends per common share (in dollars per share) $ 1.47 $ 1.42 $ 2.94 $ 2.84
Management, development and other fees        
Revenue:        
Management, development and other fees $ 954 $ 1,098 $ 1,841 $ 2,298