XML 49 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue:        
Operating Lease, Lease Income $ 586,382 $ 575,070 $ 1,727,576 $ 1,703,263
Management, development and other fees 1,231 912 3,484 2,752
Total revenue 587,613 575,982 1,731,060 1,706,015
Expenses:        
Operating expenses, excluding property taxes 133,445 132,237 389,825 394,332
Property taxes 64,374 61,230 187,890 181,120
Interest expense, net 51,493 54,097 149,395 165,795
Loss on extinguishment of debt, net 93 1,678 602 2,717
Depreciation expense 165,463 156,538 490,213 472,282
General and administrative expense 12,769 14,744 45,440 44,384
Expensed transaction, development and other pursuit costs, net of recoveries 175 523 2,562 2,212
Casualty and impairment gain, net 0 554 0 612
Total expenses 427,812 420,493 1,265,927 1,262,230
Equity in income of unconsolidated real estate entities 1,643 10,031 780 12,560
Gain on sale of communities 130,484 27,243 165,849 132,444
Gain on other real estate transactions, net 73 12 374 335
Other Selling, General and Administrative Expense (1,108) (339) (2,526) (497)
Income before income taxes 290,893 192,436 629,610 588,627
Income Tax Expense (Benefit) 11,184 29 11,178 87
Net income 279,709 192,407 618,432 588,540
Net (income) loss attributable to noncontrolling interests (32) 79 (108) 251
Net income attributable to common stockholders 279,677 192,486 618,324 588,791
Other comprehensive income (loss):        
(Loss) gain on cash flow hedges (13,644) 0 (23,763) 11,499
Cash flow hedge losses reclassified to earnings 1,746 1,466 4,825 4,679
Comprehensive income $ 267,779 $ 193,952 $ 599,386 $ 604,969
Earnings per common share - basic:        
Net income attributable to common stockholders (in dollars per share) $ 2.00 $ 1.39 $ 4.44 $ 4.26
Earnings per common share - diluted:        
Net income attributable to common stockholders (in dollars per share) $ 2.00 $ 1.39 $ 4.43 $ 4.26