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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Real estate income, net:        
Rental income $ 265.3 $ 252.6 $ 523.7 $ 498.5
Real estate property level expenses and taxes:        
Operating expenses 52.7 51.1 108.0 108.7
Real estate taxes 41.6 38.4 84.1 76.5
Interest expense 22.3 23.5 44.8 40.9
Total real estate property level expenses and taxes 116.6 113.0 236.9 226.1
Real estate income, net 148.7 139.6 286.8 272.4
Income from real estate joint ventures and limited partnerships 47.5 50.5 93.4 78.3
Interest 12.0 6.5 21.7 11.5
Dividends 8.5 7.5 7.8 10.7
TOTAL INVESTMENT INCOME 216.7 204.1 409.7 372.9
Expenses:        
Investment management charges 16.9 19.8 37.4 34.2
Administrative charges 15.7 14.1 31.3 31.4
Distribution charges 6.0 7.4 13.2 14.1
Mortality and expense risk charges 0.3 0.3 0.6 0.6
Liquidity guarantee charges 11.8 9.5 22.0 17.9
TOTAL EXPENSES 50.7 51.1 104.5 98.2
INVESTMENT INCOME, NET 166.0 153.0 305.2 274.7
Net realized gain (loss) on investments:        
Real estate properties 0.4 1.8 (16.8) 10.1
Real estate joint ventures and limited partnerships 0.0 0.2 0.0 0.2
Marketable securities 8.1 4.5 12.7 18.5
Net realized gain (loss) on investments 8.5 6.5 (4.1) 28.8
Net change in unrealized appreciation (depreciation) on:        
Real estate properties 32.4 113.0 84.2 205.3
Real estate joint ventures and limited partnerships 0.8 (17.8) 61.8 128.0
Marketable securities 8.7 66.9 32.0 110.2
Mortgage loans payable (18.1) (24.1) (6.5) (25.7)
Net change in unrealized appreciation on investments and mortgage loans payable 23.8 138.0 171.5 417.8
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS AND MORTGAGE LOANS PAYABLE 32.3 144.5 167.4 446.6
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 198.3 $ 297.5 $ 472.6 $ 721.3