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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Schedule of reconciliation of NOI to net income | A reconciliation of NOI to net income for years ended December 31, 2020, 2019 and 2018 is as follows (dollars in thousands):
| For the year ended
| 12/31/20 |  | 12/31/19 |  | 12/31/18
Net income | $ | 827,706 |  |  | $ | 786,103 |  |  | $ | 974,175 |
Indirect operating expenses, net of corporate income | 97,443 |  |  | 83,008 |  |  | 80,227 |
Expensed transaction, development and other pursuit costs, net of recoveries | 12,399 |  |  | 4,991 |  |  | 3,265 |
Interest expense, net | 214,151 |  |  | 203,585 |  |  | 220,974 |
Loss on extinguishment of debt, net | 9,333 |  |  | 602 |  |  | 17,492 |
General and administrative expense | 60,343 |  |  | 58,042 |  |  | 60,369 |
Equity in income of unconsolidated real estate entities | (6,422) |  |  | (8,652) |  |  | (15,270) |
Depreciation expense | 707,331 |  |  | 661,578 |  |  | 631,196 |
Income tax (benefit) expense | (3,247) |  |  | 13,003 |  |  | (160) |
Casualty and impairment loss, net | — |  |  | — |  |  | 215 |
Gain on sale of communities | (340,444) |  |  | (166,105) |  |  | (374,976) |
Gain on other real estate transactions, net | (440) |  |  | (439) |  |  | (345) |
Net for-sale condominium activity | (2,551) |  |  | 3,812 |  |  | 1,044 |
Net operating income from real estate assets sold or held for sale | (28,412) |  |  | (45,354) |  |  | (113,074) |
Net operating income | $ | 1,547,190 |  |  | $ | 1,594,174 |  |  | $ | 1,485,132 |
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 for the periods presented (dollars in thousands):
| For the year ended
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Rental income from real estate assets sold or held for sale | $ | 44,951 |  |  | $ | 73,168 |  |  | $ | 175,915 |
Operating expenses from real estate assets sold or held for sale | (16,539) |  |  | (27,814) |  |  | (62,841) |
Net operating income from real estate assets sold or held for sale | $ | 28,412 |  |  | $ | 45,354 |  |  | $ | 113,074 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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