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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company's reportable operating segments include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. Annually as of January 1, the Company determines which of its communities fall into each of these categories and generally maintains that classification throughout the year for the purpose of reporting segment operations, unless disposition or redevelopment plans regarding a community change. 

•Established Communities (also known as Same Store Communities) are consolidated communities where the Company has a significant presence (New England, New York/New Jersey, Mid-Atlantic, Pacific Northwest, Northern and Southern California and the expansion markets of Southeast Florida and Denver, Colorado) and where a comparison of operating results from the prior year to the current year is meaningful, as these communities were owned and had stabilized occupancy as of the beginning of the prior year. The Established Communities for the year ended December 31, 2020, are communities that are consolidated for financial reporting purposes, had stabilized occupancy as of January 1, 2019, are not conducting or planning to conduct substantial redevelopment activities and are not held for sale or planned for disposition within the fiscal year. A community is considered to have stabilized occupancy at the earlier of (i) attainment of 90% physical occupancy or (ii) the one year anniversary of completion of development or redevelopment.
•Other Stabilized Communities includes all other completed consolidated communities that have stabilized occupancy, as defined above, as January 1, 2020, or which were acquired during the years ended December 31, 2020 or 2019. Other Stabilized Communities excludes communities that are conducting or planning to conduct substantial redevelopment activities within the fiscal year.

•Development/Redevelopment Communities consists of (i) consolidated communities that are either currently under construction, or were under construction during the fiscal year, which may be partially or fully complete and operating, (ii) consolidated communities where substantial redevelopment is in progress or is planned to begin during the fiscal year and (iii) communities under lease-up that have been complete for less than one year and have not reached stabilized occupancy, as defined above, as of January 1, 2020.

In addition, the Company owns land for future development and has other corporate assets that are not allocated to an operating segment.

The Company's segment disclosures present the measure(s) used by the chief operating decision maker for purposes of assessing each segment's performance. The Company's chief operating decision maker is comprised of several members of its executive management team who use net operating income (“NOI”) as the primary financial measure for Established Communities and Other Stabilized Communities. NOI is defined by the Company as total property revenue less direct property operating expenses (including property taxes), and excluding corporate-level income (including management, development and other fees), corporate-level property management and other indirect operating expenses, expensed transaction, development and other pursuit costs, net of recoveries, interest expense, net, (gain) loss on extinguishment of debt, net, general and administrative expense, equity in income of unconsolidated real estate entities, depreciation expense, corporate income tax expense, casualty and impairment (gain) loss, net, gain on sale of communities, (gain) loss on other real estate transactions, net for-sale condominium activity and net operating income from real estate assets sold or held for sale. Although the Company considers NOI a useful measure of a community's or communities' operating performance, NOI should not be considered an alternative to net income or net cash flow from operating activities, as determined in accordance with GAAP. NOI excludes a number of income and expense categories as detailed in the reconciliation of NOI to net income.

A reconciliation of NOI to net income for years ended December 31, 2020, 2019 and 2018 is as follows (dollars in thousands):
 For the year ended
 12/31/2012/31/1912/31/18
Net income $827,706 $786,103 $974,175 
Indirect operating expenses, net of corporate income97,443 83,008 80,227 
Expensed transaction, development and other pursuit costs, net of recoveries12,399 4,991 3,265 
Interest expense, net 214,151 203,585 220,974 
Loss on extinguishment of debt, net9,333 602 17,492 
General and administrative expense60,343 58,042 60,369 
Equity in income of unconsolidated real estate entities(6,422)(8,652)(15,270)
Depreciation expense707,331 661,578 631,196 
Income tax (benefit) expense(3,247)13,003 (160)
Casualty and impairment loss, net— — 215 
Gain on sale of communities(340,444)(166,105)(374,976)
Gain on other real estate transactions, net(440)(439)(345)
Net for-sale condominium activity(2,551)3,812 1,044 
Net operating income from real estate assets sold or held for sale (28,412)(45,354)(113,074)
        Net operating income$1,547,190 $1,594,174 $1,485,132 
The following is a summary of NOI from real estate assets sold or held for sale for the periods presented (dollars in thousands):
For the year ended
12/31/202012/31/201912/31/2018
Rental income from real estate assets sold or held for sale$44,951 $73,168 $175,915 
Operating expenses from real estate assets sold or held for sale(16,539)(27,814)(62,841)
Net operating income from real estate assets sold or held for sale$28,412 $45,354 $113,074 

The primary performance measure for communities under development or redevelopment depends on the stage of completion. While under development, management monitors actual construction costs against budgeted costs as well as lease-up pace and rent levels compared to budget.

The following table provides details of the Company's segment information as of the dates specified (dollars in thousands). The segments are classified based on the individual community's status at January 1, 2020 for the years ended December 31, 2020 and 2019 and at January 1, 2019, for the year ended December 31, 2018. Segment information for the years ended December 31, 2020, 2019 and 2018 has been adjusted to exclude the real estate assets that were sold from January 1, 2018 through December 31, 2020, or otherwise qualify as held for sale as of December 31, 2020, as described in Note 6, “Real Estate Disposition Activities.”

In addition to NOI, the Company's CODM considers total revenue in assessing each segment's performance. As discussed in Note 1, "Organization, Basis of Presentation and Significant Accounting Policies," the Company changed its presentation of charges for uncollectible lease revenue beginning with the year ended December 31, 2019, including it as an adjustment to revenue and not as a component of operating expenses, as it is presented for prior year periods on the accompanying Consolidated Statements of Comprehensive Income. Consistent with how the Company's CODM evaluates total revenue, and to provide comparability between periods presented in the Company's segment reporting, the Company has included charges for uncollectible lease revenue for its segment results as a component of revenue for the year ended December 31, 2018. Total revenue for the year ended December 31, 2018 as presented in the following table includes $14,072,000 of charges for uncollectible lease revenue.
 Total
revenue		NOIGross
real estate (1)
For the period ended December 31, 2020   
Established   
New England$297,674 $193,053 $2,617,725 
Metro NY/NJ445,939 305,408 4,235,524 
Mid-Atlantic341,311 237,063 3,511,960 
Pacific Northwest109,321 76,093 996,317 
Northern California378,362 283,012 3,201,926 
Southern California432,441 298,900 4,160,754 
Expansion Markets23,269 13,376 321,252 
Total Established (2)2,028,317 1,406,905 19,045,458 
Other Stabilized140,173 92,040 1,596,656 
Development / Redevelopment84,001 48,245 2,789,062 
Land Held for Future DevelopmentN/AN/A110,142 
Non-allocated (3)3,819 N/A375,964 
Total$2,256,310 $1,547,190 $23,917,282 
For the period ended December 31, 2019   
Established   
New England$303,816 $202,812 $2,595,907 
Metro NY/NJ466,135 327,356 4,214,565 
Mid-Atlantic351,680 250,142 3,484,610 
Pacific Northwest113,021 82,186 990,563 
Northern California397,593 305,450 3,186,075 
Southern California451,640 321,776 4,131,539 
Expansion Markets23,403 13,578 320,355 
Total Established (2)2,107,288 1,503,300 18,923,614 
Other Stabilized110,434 74,814 1,587,398 
Development / Redevelopment28,776 16,060 2,086,519 
Land Held for Future DevelopmentN/AN/A— 
Non-allocated (3)4,960 N/A559,777 
Total$2,251,458 $1,594,174 $23,157,308 
For the year ended December 31, 2018   
Established   
New England$223,594 $148,310 $1,890,304 
Metro NY/NJ379,968 271,767 3,367,198 
Mid-Atlantic284,381 200,381 2,669,040 
Pacific Northwest108,861 78,313 985,102 
Northern California340,247 262,055 2,753,596 
Southern California394,519 283,795 3,573,952 
Expansion Markets (4)N/AN/AN/A
Total Established (2)1,731,570 1,244,621 15,239,192 
Other Stabilized 238,584 159,745 3,063,670 
Development / Redevelopment120,822 80,766 2,652,968 
Land Held for Future DevelopmentN/AN/A84,712 
Non-allocated (3)3,572 N/A504,230 
Total$2,094,548 $1,485,132 $21,544,772 
_________________________________
(1)     Does not include gross real estate assets held for sale of $44,940 as of December 31, 2020 and gross real estate either sold or classified as held for sale subsequent to December 31, 2019 and 2018 of $401,152 and $732,397, respectively.
(2)     Gross real estate for the Company's Established Communities includes capitalized additions of approximately $126,548, $128,324 and $78,469 in 2020, 2019 and 2018, respectively.
(3)     Revenue represents third-party management, accounting, and developer fees and miscellaneous income which are not allocated to a reportable segment. Gross real estate includes the for-sale residential condominiums at The Park Loggia, as discussed in Note 6, "Real Estate Disposition Activities."
(4) The Company had no communities in its Established Communities Expansion Markets for the year ended December 31, 2018.