XML 39 R35.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Organization, Basis of Presentation, and Significant Accounting Policies (Details 3)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
community
home
$ / shares
Sep. 30, 2019
USD ($)
$ / shares
Jun. 30, 2019
USD ($)
$ / shares
Mar. 31, 2019
USD ($)
$ / shares
Dec. 31, 2018
USD ($)
$ / shares
Sep. 30, 2018
USD ($)
$ / shares
Jun. 30, 2018
USD ($)
$ / shares
Mar. 31, 2018
USD ($)
$ / shares
Dec. 31, 2019
USD ($)
community
home
$ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
shares
Dec. 31, 2017
USD ($)
$ / shares
shares
Basic and diluted shares outstanding                      
Weighted average common shares—basic | shares                 139,054,191 137,844,755 137,523,771
Weighted average DownREIT units outstanding (in shares) | shares                 7,500 7,500 7,500
Effect of dilutive securities (in shares) | shares                 509,859 436,986 535,415
Weighted average common shares - diluted (in shares) | shares                 139,571,550 138,289,241 138,066,686
Calculation of Earnings per Share—basic                      
Net income attributable to common stockholders $ 167,650 $ 279,677 $ 168,281 $ 170,366 $ 385,734 $ 192,486 $ 254,662 $ 141,643 $ 785,974 $ 974,525 $ 876,921
Net income allocated to unvested restricted shares                 (2,063) (2,839) (2,463)
Net income attributable to common stockholders, adjusted                 $ 783,911 $ 971,686 $ 874,458
Weighted average common shares—basic | shares                 139,054,191 137,844,755 137,523,771
Earnings per common share - basic (in dollars per share) | $ / shares $ 1.20 $ 2.00 $ 1.21 $ 1.23 $ 2.79 $ 1.39 $ 1.84 $ 1.03 $ 5.64 $ 7.05 $ 6.36
Calculation of Earnings per Share—diluted                      
Net income attributable to common stockholders $ 167,650 $ 279,677 $ 168,281 $ 170,366 $ 385,734 $ 192,486 $ 254,662 $ 141,643 $ 785,974 $ 974,525 $ 876,921
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations                 46 44 42
Adjusted net income attributable to common stockholders                 $ 786,020 $ 974,569 $ 876,963
Weighted average common shares—diluted | shares                 139,571,550 138,289,241 138,066,686
Earnings per common share - diluted (in dollars per share) | $ / shares $ 1.20 $ 2.00 $ 1.21 $ 1.23 $ 2.79 $ 1.39 $ 1.84 $ 1.03 $ 5.63 $ 7.05 $ 6.35
Real Estate [Line Items]                      
Operating Lease, Lease Income                 $ 2,319,666 $ 2,280,963 $ 2,154,481
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Abandoned pursuits costs                 4,896 4,388 2,370
Casualty and impairment loss, net                 0 215 6,250
Impairment of investment in unconsolidated entities                 0 0 0
Management, development and other fees                 4,960 3,572 4,147
Business interruption insurance proceeds                 1,441 26 3,498
Revenues $ 593,566 $ 587,613 $ 577,263 $ 566,184 $ 578,522 $ 575,982 $ 569,239 $ 560,792 $ 2,324,626 2,284,535 2,158,628
Number of real estate properties | community 275               275    
Number of Units in Real Estate Property | home 79,886               79,886    
Land                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Casualty and impairment loss, net                 $ 0 826 9,350
Avalon Maplewood                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Casualty and impairment loss, net                   2,338  
Business interruption insurance proceeds                   3,495  
Insurance recoveries                   19,696  
Continuing Operations                      
Real Estate [Line Items]                      
Operating Lease, Lease Income                 2,287,927 2,136,246 1,974,932
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 13,817 9,818 10,026
Business interruption insurance proceeds                 1,441 26 3,498
Revenues                 2,303,185 2,146,090 1,988,456
Management, Development And Other [Member] | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 4,960 3,572 4,147
Rental and non-rental related income | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 8,857 6,246 5,879
Corporate, Non-Segment [Member]                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Revenues                 4,960 3,572 4,147
Corporate, Non-Segment [Member] | Continuing Operations                      
Real Estate [Line Items]                      
Operating Lease, Lease Income                 0 0 0
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 4,960 3,572 4,147
Business interruption insurance proceeds                 0 0 0
Revenues                 4,960 3,572 4,147
Corporate, Non-Segment [Member] | Management, Development And Other [Member] | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 4,960 3,572 4,147
Corporate, Non-Segment [Member] | Rental and non-rental related income | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 0 0 0
Established Communities | Operating segment                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Revenues                 1,836,339 1,783,112 1,574,110
Established Communities | Operating segment | New England                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Revenues                 249,301 241,793 215,133
Established Communities | Operating segment | Continuing Operations                      
Real Estate [Line Items]                      
Operating Lease, Lease Income                 1,829,748 1,778,841 1,570,262
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 6,113 4,245 3,845
Business interruption insurance proceeds                 478 26 3
Revenues                 1,836,339 1,783,112 1,574,110
Established Communities | Operating segment | Management, Development And Other [Member] | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 0 0 0
Established Communities | Operating segment | Rental and non-rental related income | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 6,113 4,245 3,845
Other Stabilized Communities | Operating segment                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Revenues                 298,415 238,584 174,933
Other Stabilized Communities | Operating segment | Continuing Operations                      
Real Estate [Line Items]                      
Operating Lease, Lease Income                 295,511 236,852 173,639
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 1,941 1,732 1,294
Business interruption insurance proceeds                 963 0 0
Revenues                 298,415 238,584 174,933
Other Stabilized Communities | Operating segment | Management, Development And Other [Member] | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 0 0 0
Other Stabilized Communities | Operating segment | Rental and non-rental related income | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 1,941 1,732 1,294
Development/Redevelopment Communities | Operating segment | Continuing Operations                      
Real Estate [Line Items]                      
Operating Lease, Lease Income                 162,668 120,553 231,031
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 803 269 740
Business interruption insurance proceeds                 0 0 3,495
Revenues                 163,471 120,822 235,266
Development/Redevelopment Communities | Operating segment | Management, Development And Other [Member] | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 0 0 0
Development/Redevelopment Communities | Operating segment | Rental and non-rental related income | Continuing Operations                      
Casualty Loss, Abandoned Pursuit Costs and Impairment of Long-Lived Assets                      
Management, development and other fees                 $ 803 $ 269 $ 740