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Segment Reporting
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company's reportable operating segments include Same Store, Other Stabilized and Development/Redevelopment. 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.

•Same Store is composed of consolidated communities 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 respective prior year. For the year ended December 31, 2022, Same Store communities are consolidated for financial reporting purposes, had stabilized occupancy as of January 1, 2021, are not conducting or are not probable to conduct substantial redevelopment activities and are not held for sale as of December 31, 2022 or probable for disposition to unrelated third parties 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 is composed of completed consolidated communities that the Company owns and that are not Same Store but that had stabilized occupancy, as defined above, as of January 1, 2022, or which were acquired during the years ended December 31, 2022 or 2021. Other Stabilized includes stabilized wholly-owned communities in Charlotte, North Carolina and Dallas, Texas, the two new expansion markets the Company entered in 2021, but excludes communities that are conducting or are probable to conduct substantial redevelopment activities within the fiscal year.

•Development/Redevelopment is composed 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 probable to begin during the fiscal year and (iii) communities that have been complete for less than one year and have not reached stabilized occupancy, as defined above, as of January 1, 2022.

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 ("CODM") for assessing each segment's performance. The Company's CODM is comprised of several members of its executive management team who use net operating income (“NOI”) as the primary financial measure for Same Store 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, loss on extinguishment of debt, net, general and administrative expense, income from investments in unconsolidated entities, depreciation expense, income tax expense (benefit), casualty loss, gain on sale of communities, gain on other real estate transactions, net, net for-sale condominium activity and net operating income from real estate assets sold or held for sale. The CODM evaluates the Company's financial performance on a consolidated residential and commercial basis. The commercial results attributable to the non-apartment components of the Company's mixed-use communities and other nonresidential operations represent 2.0%, 1.7% and 0.9% of total NOI for the years ended December 31, 2022, 2021 and 2020, respectively. 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, 2022, 2021 and 2020 is as follows (dollars in thousands):
 For the year ended December 31,
 202220212020
Net income $1,136,438 $1,004,356 $827,706 
Property management and other indirect operating expenses, net of corporate income114,200 98,665 97,443 
Expensed transaction, development and other pursuit costs, net of recoveries16,565 3,231 12,399 
Interest expense, net 230,074 220,415 214,151 
Loss on extinguishment of debt, net1,646 17,787 9,333 
General and administrative expense74,064 69,611 60,343 
Income from investments in unconsolidated entities(53,394)(38,585)(6,422)
Depreciation expense814,978 758,596 707,331 
Income tax expense (benefit)14,646 5,733 (3,247)
Casualty loss— 3,119 — 
Gain on sale of communities(555,558)(602,235)(340,444)
Gain on other real estate transactions, net(5,039)(2,097)(440)
Net for-sale condominium activity(88)977 (2,551)
Net operating income from real estate assets sold or held for sale (22,746)(61,105)(103,181)
        Net operating income$1,765,786 $1,478,468 $1,472,421 

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 December 31,
202220212020
Rental income from real estate assets sold or held for sale$35,374 $99,684 $165,092 
Operating expenses from real estate assets sold or held for sale(12,628)(38,579)(61,911)
Net operating income from real estate assets sold or held for sale$22,746 $61,105 $103,181 

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 details 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 December 31, 2022 for the years ended December 31, 2022 and 2021 and at December 31, 2021, for the year ended December 31, 2020. Segment information for the years ended December 31, 2022, 2021 and 2020 has been adjusted to exclude the real estate assets that were sold from January 1, 2020 through December 31, 2022, or otherwise qualify as held for sale as of December 31, 2022, as described in Note 6, “Real Estate Disposition Activities.”
 Total
revenue		NOIGross
real estate (1)
For the period ended December 31, 2022   
Same Store   
New England$344,384 $228,316 $2,881,980 
Metro NY/NJ466,512 324,901 4,115,989 
Mid-Atlantic333,400 227,031 3,203,802 
Southeast Florida38,265 25,003 398,823 
Denver, CO26,848 19,652 321,685 
Pacific Northwest145,255 102,838 1,297,627 
Northern California403,611 288,468 3,687,929 
Southern California492,093 345,463 4,320,634 
Total Same Store2,250,368 1,561,672 20,228,469 
Other Stabilized210,341 141,593 2,973,170 
Development / Redevelopment91,030 62,521 2,367,634 
Land Held for DevelopmentN/AN/A179,204 
Non-allocated (3)6,333 N/A155,418 
Total$2,558,072 $1,765,786 $25,903,895 
For the period ended December 31, 2021   
Same Store   
New England$305,627 $196,075 $2,845,834 
Metro NY/NJ415,936 284,819 4,089,024 
Mid-Atlantic310,274 208,505 3,174,279 
Southeast Florida31,703 19,689 395,999 
Denver, CO23,742 16,451 320,435 
Pacific Northwest126,513 85,980 1,288,975 
Northern California371,978 263,101 3,640,220 
Southern California441,765 303,336 4,264,695 
Total Same Store (2)2,027,538 1,377,956 20,019,461 
Other Stabilized121,659 75,422 2,413,391 
Development / Redevelopment42,885 25,090 1,580,653 
Land Held for DevelopmentN/AN/A147,546 
Non-allocated (3)3,084 N/A257,536 
Total$2,195,166 $1,478,468 $24,418,587 
For the year ended December 31, 2020   
Same Store   
New England$294,955 $193,754 $2,678,628 
Metro NY/NJ399,686 277,666 3,895,554 
Mid-Atlantic336,264 233,307 3,479,627 
Southeast Florida29,151 15,730 393,926 
Denver, CO21,293 13,796 319,562 
Pacific Northwest110,976 77,324 1,052,903 
Northern California400,934 298,176 3,438,290 
Southern California433,203 299,196 4,226,724 
Total Same Store (2)2,026,462 1,408,949 19,485,214 
Other Stabilized 79,431 52,614 1,081,327 
Development / Redevelopment28,298 10,858 1,917,913 
Land Held for DevelopmentN/AN/A110,142 
Non-allocated (3)1,978 N/A367,189 
Total$2,136,169 $1,472,421 $22,961,785 
_________________________________
(1)     Does not include gross real estate either sold or classified as held for sale subsequent to December 31, 2021 and 2020 of $482,542 and $955,497, respectively.
(2)     Gross real estate for the Company's Same Store includes capitalized additions of approximately $209,607, $158,991 and $126,548 in 2022, 2021 and 2020, respectively.
(3)     Revenue represents third-party property management, developer fees and miscellaneous income and other ancillary items 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."