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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2016
Segment Reporting [Abstract] |
Schedule of reconciliation of NOI to net income | A reconciliation of NOI to net income for years ended December 31, 2016, 2015 and 2014 is as follows (dollars in thousands):
| For the year ended
| 12/31/16 |  | 12/31/15 |  | 12/31/14
Net income | $ | 1,033,708 |  |  | $ | 741,733 |  |  | $ | 697,327 |
Indirect operating expenses, net of corporate income | 61,403 |  |  | 56,973 |  |  | 49,055 |
Investments and investment management expense | 4,822 |  |  | 4,370 |  |  | 4,485 |
Expensed acquisition, development and other pursuit costs, net of recoveries | 9,922 |  |  | 6,822 |  |  | (3,717 | )
Interest expense, net (1) | 187,510 |  |  | 175,615 |  |  | 180,618 |
Loss (gain) on extinguishment of debt, net | 7,075 |  |  | (26,736 | ) |  | 412 |
General and administrative expense | 45,771 |  |  | 42,774 |  |  | 41,425 |
Equity in income of unconsolidated real estate entities | (64,962 | ) |  | (70,018 | ) |  | (148,766 | )
Depreciation expense (1) | 531,434 |  |  | 477,923 |  |  | 442,682 |
Income tax expense | 305 |  |  | 1,483 |  |  | 9,368 |
Casualty and impairment (gain) loss, net | (3,935 | ) |  | (10,542 | ) |  | — |
Gain on sale of real estate assets | (384,847 | ) |  | (125,272 | ) |  | (85,415 | )
Gain on sale of discontinued operations | — |  |  | — |  |  | (37,869 | )
Income from discontinued operations | — |  |  | — |  |  | (310 | )
Net operating income from real estate assets sold or held for sale, not classified as discontinued operations (2) | (17,509 | ) |  | (34,133 | ) |  | (49,708 | )
Net operating income | $ | 1,410,697 |  |  | $ | 1,240,992 |  |  | $ | 1,099,587 |
_________________________________
(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 year ended
| 12/31/2016 |  | 12/31/2015 |  | 12/31/2014
Rental income from real estate assets sold or held for sale, not classified as discontinued operations | $ | 28,430 |  |  | $ | 55,674 |  |  | $ | 80,704 |
Operating expenses from real estate assets sold or held for sale, not classified as discontinued operations | (10,921 | ) |  | (21,541 | ) |  | (30,996 | )
Net operating income from real estate assets sold or held for sale, not classified as discontinued operations | $ | 17,509 |  |  | $ | 34,133 |  |  | $ | 49,708 |
Schedule of details of segment information |
| Total revenue |  | NOI |  | % NOI change from prior year |  | Gross real estate (1)
For the year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |
Established |  |  |  |  |  |  |  |  |  |  |
New England | $ | 239,201 |  |  | $ | 153,669 |  |  | 4.9 | % |  | $ | 1,888,524 |
Metro NY/NJ | 379,151 |  |  | 258,950 |  |  | 1.4 | % |  | 3,212,220 |
Mid-Atlantic | 233,711 |  |  | 162,243 |  |  | 1.3 | % |  | 2,339,395 |
Pacific Northwest | 79,684 |  |  | 57,494 |  |  | 6.5 | % |  | 737,289 |
Northern California | 319,121 |  |  | 244,458 |  |  | 7.0 | % |  | 2,661,258 |
Southern California | 291,567 |  |  | 207,537 |  |  | 9.1 | % |  | 2,672,691 |
Total Established (2) | 1,542,435 |  |  | 1,084,351 |  |  | 4.8 | % |  | 13,511,377 |
Other Stabilized (3) | 235,360 |  |  | 165,530 |  |  | N/A |  |  | 2,330,503 |
Development / Redevelopment | 233,431 |  |  | 160,816 |  |  | N/A |  |  | 4,755,315 |
Land Held for Future Development | N/A |  |  | N/A |  |  | N/A |  |  | 84,293 |
Non-allocated (4) | 5,599 |  |  | N/A |  |  | N/A |  |  | 74,292 |
Total | $ | 2,016,825 |  |  | $ | 1,410,697 |  |  | 13.7 | % |  | $ | 20,755,780 |
For the year ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |
Established |  |  |  |  |  |  |  |  |  |  |
New England | $ | 182,366 |  |  | $ | 114,717 |  |  | 2.7 | % |  | $ | 1,460,746 |
Metro NY/NJ | 361,902 |  |  | 256,907 |  |  | 3.4 | % |  | 3,152,361 |
Mid-Atlantic | 209,013 |  |  | 145,497 |  |  | 0.2 | % |  | 2,177,823 |
Pacific Northwest | 67,900 |  |  | 48,833 |  |  | 8.5 | % |  | 721,040 |
Northern California | 273,432 |  |  | 210,226 |  |  | 11.9 | % |  | 2,414,184 |
Southern California | 252,530 |  |  | 173,919 |  |  | 9.4 | % |  | 2,465,432 |
Total Established (2) | 1,347,143 |  |  | 950,099 |  |  | 5.9 | % |  | 12,391,586 |
Other Stabilized | 221,042 |  |  | 145,263 |  |  | N/A |  |  | 2,040,269 |
Development / Redevelopment | 222,222 |  |  | 145,630 |  |  | N/A |  |  | 4,238,967 |
Land Held for Future Development | N/A |  |  | N/A |  |  | N/A |  |  | 484,377 |
Non-allocated (4) | 9,947 |  |  | N/A |  |  | N/A |  |  | 73,372 |
Total | $ | 1,800,354 |  |  | $ | 1,240,992 |  |  | 12.9 | % |  | $ | 19,228,571 |
For the year ended December 31, 2014 (5) |  |  |  |  |  |  |  |  |  |  |
Established |  |  |  |  |  |  |  |  |  |  |
New England | $ | 164,181 |  |  | $ | 104,674 |  |  | 0.8 | % |  | $ | 1,333,854 |
Metro NY/NJ | 285,641 |  |  | 203,522 |  |  | 3.3 | % |  | 2,251,697 |
Mid-Atlantic | 98,590 |  |  | 69,498 |  |  | (2.5 | )% |  | 647,374 |
Pacific Northwest | 46,041 |  |  | 32,012 |  |  | 6.8 | % |  | 500,247 |
Northern California | 174,527 |  |  | 132,899 |  |  | 8.2 | % |  | 1,402,444 |
Southern California | 139,841 |  |  | 95,626 |  |  | 5.2 | % |  | 1,225,328 |
Total Established (2) | 908,821 |  |  | 638,231 |  |  | 3.6 | % |  | 7,360,944 |
Other Stabilized | 497,634 |  |  | 343,477 |  |  | N/A |  |  | 6,057,783 |
Development / Redevelopment | 186,852 |  |  | 117,879 |  |  | N/A |  |  | 3,972,180 |
Land Held for Future Development | N/A |  |  | N/A |  |  | N/A |  |  | 180,516 |
Non-allocated (4) | 11,050 |  |  | N/A |  |  | N/A |  |  | 32,444 |
Total | $ | 1,604,357 |  |  | $ | 1,099,587 |  |  | 16.5 | % |  | $ | 17,603,867 |
_________________________________
(1) | Does not include gross real estate assets held for sale of $20,846, $39,528 and $245,449 as of December 31, 2016, 2015 and 2014, respectively.
(2) | Gross real estate for the Company's Established Communities includes capitalized additions of approximately $85,676, $74,982 and $52,635 in 2016, 2015 and 2014, respectively.
(3) | Total revenue and NOI for the year ended December 31, 2016 includes $20,306 in business interruption insurance proceeds related to the Edgewater casualty loss.
(4) | Revenue represents third-party management, accounting, 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 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 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=68060357&loc=d3e8813-108599 Reference 3: 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=68060357&loc=d3e8721-108599 Reference 4: 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 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=68060357&loc=d3e8736-108599 + Details
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