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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenue:      
Operating Lease, Lease Income $ 2,297,442 $ 2,319,666 $ 2,280,963
Management, development and other fees 3,819 4,960 3,572
Total revenue 2,301,261 2,324,626 2,284,535
Expenses:      
Cost of Other Property Operating Expense 549,913 515,145 524,993
Property taxes 273,189 252,961 241,563
Interest expense, net 214,151 203,585 220,974
Loss on extinguishment of debt, net 9,333 602 17,492
Depreciation expense 707,331 661,578 631,196
General and administrative expense 60,343 58,042 60,369
Other Nonoperating Expense 12,399 4,991 3,265
Casualty and impairment loss, net 0 0 215
Costs and Expenses, Total 1,826,659 1,696,904 1,700,067
Equity in income of unconsolidated real estate entities 6,422 8,652 15,270
Gain on sale of communities 340,444 166,105 374,976
Gain on other real estate transactions, net 440 439 345
Gain (Loss) on Sale of Other Investments, Net of Marketing and Administrative Costs 2,551 (3,812) (1,044)
Income before income taxes 824,459 799,106 974,015
Income Tax Expense (Benefit) 3,247 (13,003) 160
Net income 827,706 786,103 974,175
Net (income) loss attributable to noncontrolling interests (76) (129) 350
Net income attributable to common stockholders 827,630 785,974 974,525
Other comprehensive income (loss):      
(Loss) gain on cash flow hedges (17,731) (11,930) 5,132
Cash flow hedge losses reclassified to earnings (8,984) (6,571) (6,143)
Comprehensive income $ 818,883 $ 780,615 $ 985,800
Earnings per common share - basic:      
Net income per common share - basic (in dollars per share) $ 5.89 $ 5.64 $ 7.05
Earnings per common share - diluted:      
Net income per common share - diluted (in dollars per share) $ 5.89 $ 5.63 $ 7.05