Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of 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
	12/31/20		12/31/19		12/31/18
Net income	$	827,706	$	786,103	$	974,175
Indirect operating expenses, net of corporate income	97,443		83,008		80,227
Expensed transaction, development and other pursuit costs, net of recoveries	12,399		4,991		3,265
Interest expense, net	214,151		203,585		220,974
Loss on extinguishment of debt, net	9,333		602		17,492
General and administrative expense	60,343		58,042		60,369
Equity in income of unconsolidated real estate entities	(6,422)		(8,652)		(15,270)
Depreciation expense	707,331		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

Schedule of net operating income from real estate assets sold or held for sale, not classified as discontinued operations

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
	12/31/2020		12/31/2019		12/31/2018
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