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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
Schedule of reconciliation of NOI to net income | A reconciliation of NOI to net income for the three and nine months ended September 30, 2014 and 2013 is as follows (dollars in thousands):
| For the three months ended |  | For the nine months ended
| 9/30/2014 |  | 9/30/2013 |  | 9/30/2014 |  | 9/30/2013
Net income | $ | 241,001 |  |  | $ | (10,885 | ) |  | $ | 554,801 |  |  | $ | 100,681 |
Indirect operating expenses, net of corporate income | 13,173 |  |  | 10,780 |  |  | 36,333 |  |  | 30,673 |
Investments and investment management expense | 1,079 |  |  | 1,043 |  |  | 3,195 |  |  | 3,154 |
Expensed acquisition, development and other pursuit costs | 406 |  |  | 2,176 |  |  | 3,139 |  |  | 46,041 |
Interest expense, net (1) | 46,376 |  |  | 43,945 |  |  | 132,631 |  |  | 127,772 |
Loss on extinguishment of debt, net | — |  |  | — |  |  | 412 |  |  | — |
Loss on interest rate contract | — |  |  | 53,484 |  |  | — |  |  | 51,000 |
General and administrative expense | 11,290 |  |  | 9,878 |  |  | 30,745 |  |  | 31,262 |
Equity in (income) loss of unconsolidated real estate entities | (130,592 | ) |  | (3,260 | ) |  | (143,527 | ) |  | 16,244 |
Depreciation expense (1) | 111,836 |  |  | 159,873 |  |  | 328,598 |  |  | 455,410 |
Gain on sale of real estate assets | — |  |  | — |  |  | (60,945 | ) |  | (240 | )
Gain on sale of discontinued operations | — |  |  | — |  |  | (37,869 | ) |  | (118,173 | )
Income from discontinued operations | — |  |  | (5,063 | ) |  | (310 | ) |  | (12,890 | )
Net operating income from real estate assets sold or held for sale, not classified as discontinued operations | (1,216 | ) |  | (3,535 | ) |  | (8,373 | ) |  | (9,587 | )
Net operating income | $ | 293,353 |  |  | $ | 258,436 |  |  | $ | 838,830 |  |  | $ | 721,347 |
__________________________________ (1) Includes amounts associated with assets sold or held for sale, not classified as discontinued operations.
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, not classified as discontinued operations, for the periods presented (dollars in thousands):
| For the three months ended |  | For the nine months ended
| 9/30/2014 |  | 9/30/2013 |  | 9/30/2014 |  | 9/30/2013
Rental income from real estate assets sold or held for sale, not classified as discontinued operations | $ | 2,238 |  |  | $ | 5,871 |  |  | $ | 13,809 |  |  | $ | 15,659 |
Operating expenses real estate assets sold or held for sale, not classified as discontinued operations | (1,022 | ) |  | (2,336 | ) |  | (5,436 | ) |  | (6,072 | )
Net operating income from real estate assets sold or held for sale, not classified as discontinued operations | $ | 1,216 |  |  | $ | 3,535 |  |  | $ | 8,373 |  |  | $ | 9,587 |
Schedule of details of segment information |
| For the three months ended |  | For the nine months ended |  |
| Total revenue |  | NOI |  | % NOI change from prior year |  | Total revenue |  | NOI |  | % NOI change from prior year |  | Gross real estate (1)
For the period ended September 30, 2014 (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Established |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
New England | $ | 49,227 |  |  | $ | 31,858 |  |  | 4.6 | % |  | $ | 140,891 |  |  | $ | 89,693 |  |  | 0.7 | % |  | $ | 1,427,605 |
Metro NY/NJ | 96,112 |  |  | 67,255 |  |  | 3.9 | % |  | 237,732 |  |  | 165,867 |  |  | 2.4 | % |  | 2,376,493 |
Mid-Atlantic | 47,122 |  |  | 32,284 |  |  | (2.2 | )% |  | 73,964 |  |  | 51,947 |  |  | (3.3 | )% |  | 645,872 |
Pacific Northwest | 16,744 |  |  | 11,668 |  |  | 9.4 | % |  | 40,437 |  |  | 28,104 |  |  | 6.3 | % |  | 499,611 |
Northern California | 64,120 |  |  | 48,805 |  |  | 12.2 | % |  | 129,560 |  |  | 99,030 |  |  | 7.8 | % |  | 1,401,286 |
Southern California | 63,126 |  |  | 41,655 |  |  | 6.8 | % |  | 103,919 |  |  | 71,054 |  |  | 4.5 | % |  | 1,224,729 |
Total Established | 336,451 |  |  | 233,525 |  |  | 5.5 | % |  | 726,503 |  |  | 505,695 |  |  | 3.0 | % |  | 7,575,596 |
Other Stabilized | 45,023 |  |  | 31,838 |  |  | N/A |  |  | 370,627 |  |  | 255,085 |  |  | N/A |  |  | 6,008,289 |
Development / Redevelopment | 44,310 |  |  | 27,990 |  |  | N/A |  |  | 125,215 |  |  | 78,050 |  |  | N/A |  |  | 3,639,770 |
Land Held for Future Development | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | 176,484 |
Non-allocated (3) | 2,503 |  |  | N/A |  |  | N/A |  |  | 8,253 |  |  | N/A |  |  | N/A |  |  | 43,215 |
Total | $ | 428,287 |  |  | $ | 293,353 |  |  | 13.5 | % |  | $ | 1,230,598 |  |  | $ | 838,830 |  |  | 16.3 | % |  | $ | 17,443,354 |
For the period ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Established |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
New England | $ | 42,853 |  |  | $ | 27,221 |  |  | (0.6 | )% |  | $ | 126,239 |  |  | $ | 81,882 |  |  | 2.1 | % |  | $ | 1,286,876 |
Metro NY/NJ | 63,103 |  |  | 43,327 |  |  | 3.4 | % |  | 186,897 |  |  | 129,215 |  |  | 4.6 | % |  | 1,919,151 |
Mid-Atlantic | 25,262 |  |  | 17,652 |  |  | (1.0 | )% |  | 75,608 |  |  | 54,169 |  |  | 1.1 | % |  | 632,102 |
Pacific Northwest | 11,773 |  |  | 7,752 |  |  | 1.7 | % |  | 34,752 |  |  | 23,539 |  |  | 7.4 | % |  | 443,812 |
Northern California | 35,850 |  |  | 28,009 |  |  | 15.3 | % |  | 104,794 |  |  | 79,914 |  |  | 13.1 | % |  | 1,232,724 |
Southern California | 30,001 |  |  | 20,165 |  |  | 4.7 | % |  | 88,873 |  |  | 60,640 |  |  | 5.7 | % |  | 1,057,512 |
Total Established | 208,842 |  |  | 144,126 |  |  | 4.2 | % |  | 617,163 |  |  | 429,359 |  |  | 5.4 | % |  | 6,572,177 |
Other Stabilized | 139,093 |  |  | 92,856 |  |  | N/A |  |  | 348,028 |  |  | 237,846 |  |  | N/A |  |  | 6,539,176 |
Development / Redevelopment | 32,369 |  |  | 21,454 |  |  | N/A |  |  | 79,704 |  |  | 54,142 |  |  | N/A |  |  | 2,676,384 |
Land Held for Future Development | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | 282,285 |
Non-allocated (3) | 3,014 |  |  | N/A |  |  | N/A |  |  | 8,198 |  |  | N/A |  |  | N/A |  |  | 47,921 |
Total | $ | 383,318 |  |  | $ | 258,436 |  |  | 49.3 | % |  | $ | 1,053,093 |  |  | $ | 721,347 |  |  | 45.4 | % |  | $ | 16,117,943 |
__________________________________
(1) | Does not include gross real estate assets held for sale of $87,393 and $654,729 as of September 30, 2014 and 2013, respectively.
(2) | Results for the three months ended September 30, 2014 reflect the operating segments updated as of April 1, 2014, which include most stabilized communities acquired as part of the Archstone Acquisition in the Established Communities segment. Results for the nine months ended September 30, 2014 reflect the operating segments determined as of January 1, 2014, which include stabilized communities acquired as part of the Archstone Acquisition in the Other Stabilized segment.
(3) | Revenue represents third party management, asset management and developer fees and miscellaneous income which are not allocated to a reportable segment.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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