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Organization, Basis of Presentation and Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2021
Accounting Policies [Abstract] |
Schedule of earnings per common share | The Company's earnings per common share are determined as follows (dollars in thousands, except per share data):
| For the three months ended |  | For the nine months ended
| 9/30/2021 |  | 9/30/2020 |  | 9/30/2021 |  | 9/30/2020
Basic and diluted shares outstanding |  |  |  |  |  |  |
Weighted average common shares - basic | 139,386,413 |  |  | 140,271,574 |  |  | 139,338,800 |  |  | 140,366,438 |
Weighted average DownREIT units outstanding | 7,500 |  |  | 7,500 |  |  | 7,500 |  |  | 7,500 |
Effect of dilutive securities | 343,812 |  |  | 324,648 |  |  | 298,769 |  |  | 328,865 |
Weighted average common shares - diluted | 139,737,725 |  |  | 140,603,722 |  |  | 139,645,069 |  |  | 140,702,803 |
Calculation of Earnings per Share - basic |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 78,914 |  |  | $ | 147,703 |  |  | $ | 669,090 |  |  | $ | 486,502 |
Net income allocated to unvested restricted shares | (160) |  |  | (342) |  |  | (1,443) |  |  | (1,158) |
Net income attributable to common stockholders, adjusted | $ | 78,754 |  |  | $ | 147,361 |  |  | $ | 667,647 |  |  | $ | 485,344 |
Weighted average common shares - basic | 139,386,413 |  |  | 140,271,574 |  |  | 139,338,800 |  |  | 140,366,438 |
Earnings per common share - basic | $ | 0.57 |  |  | $ | 1.05 |  |  | $ | 4.79 |  |  | $ | 3.46 |
Calculation of Earnings per Share - diluted |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 78,914 |  |  | $ | 147,703 |  |  | $ | 669,090 |  |  | $ | 486,502 |
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships | 12 |  |  | 12 |  |  | 36 |  |  | 36 |
Adjusted net income attributable to common stockholders | $ | 78,926 |  |  | $ | 147,715 |  |  | $ | 669,126 |  |  | $ | 486,538 |
Weighted average common shares - diluted | 139,737,725 |  |  | 140,603,722 |  |  | 139,645,069 |  |  | 140,702,803 |
Earnings per common share - diluted | $ | 0.56 |  |  | $ | 1.05 |  |  | $ | 4.79 |  |  | $ | 3.46 |
Disaggregation of revenue | The following table provides details of the Company’s revenue streams disaggregated by the Company’s reportable operating segments, further discussed in Note 8, “Segment Reporting,” for the three and nine months ended September 30, 2021 and 2020. Segment information for total revenue has been adjusted to exclude the real estate assets that were sold from January 1, 2020 through September 30, 2021, or otherwise qualify as held for sale as of September 30, 2021, as described in Note 6, "Real Estate Disposition Activities" (dollars in thousands):
|  | For the three months ended
|  | Same Store |  | Other Stabilized |  | Development/ Redevelopment |  | Non- allocated (1) |  | Total
For the period ended September 30, 2021 |  |  |  |  |  |  |  |  |  |
Management, development and other fees and other ancillary items |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 695 |  |  | $ | 695 |
Rental and non-rental related income (2) |  | 1,883 |  |  | 369 |  |  | 171 |  |  | — |  |  | 2,423 |
Total non-lease revenue (3) |  | 1,883 |  |  | 369 |  |  | 171 |  |  | 695 |  |  | 3,118 |
Lease income (4) |  | 517,914 |  |  | 27,539 |  |  | 28,372 |  |  | — |  |  | 573,825 |
Business interruption insurance proceeds |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total revenue |  | $ | 519,797 |  |  | $ | 27,908 |  |  | $ | 28,543 |  |  | $ | 695 |  |  | $ | 576,943 |
For the period ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
Management, development and other fees and other ancillary items |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 419 |  |  | $ | 419 |
Rental and non-rental related income (2) |  | 1,965 |  |  | 598 |  |  | 112 |  |  | — |  |  | 2,675 |
Total non-lease revenue (3) |  | 1,965 |  |  | 598 |  |  | 112 |  |  | 419 |  |  | 3,094 |
Lease income (4) |  | 511,171 |  |  | 21,718 |  |  | 6,831 |  |  | — |  |  | 539,720 |
Business interruption insurance proceeds |  | 282 |  |  | — |  |  | — |  |  | — |  |  | 282 |
Total revenue |  | $ | 513,418 |  |  | $ | 22,316 |  |  | $ | 6,943 |  |  | $ | 419 |  |  | $ | 543,096 |
|  | For the nine months ended
|  | Same Store |  | Other Stabilized |  | Development/ Redevelopment |  | Non- allocated (1) |  | Total
For the period ended September 30, 2021 |  |  |  |  |  |  |  |  |  |
Management, development and other fees and other ancillary items |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,380 |  |  | $ | 2,380 |
Rental and non-rental related income (2) |  | 5,469 |  |  | 1,148 |  |  | 483 |  |  | — |  |  | 7,100 |
Total non-lease revenue (3) |  | 5,469 |  |  | 1,148 |  |  | 483 |  |  | 2,380 |  |  | 9,480 |
Lease income (4) |  | 1,514,951 |  |  | 75,886 |  |  | 65,060 |  |  | — |  |  | 1,655,897 |
Business interruption insurance proceeds |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total revenue |  | $ | 1,520,420 |  |  | $ | 77,034 |  |  | $ | 65,543 |  |  | $ | 2,380 |  |  | $ | 1,665,377 |
For the period ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
Management, development and other fees and other ancillary items |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,109 |  |  | $ | 1,109 |
Rental and non-rental related income (2) |  | 5,447 |  |  | 1,637 |  |  | 230 |  |  | — |  |  | 7,314 |
Total non-lease revenue (3) |  | 5,447 |  |  | 1,637 |  |  | 230 |  |  | 1,109 |  |  | 8,423 |
Lease income (4) |  | 1,580,580 |  |  | 63,325 |  |  | 16,889 |  |  | — |  |  | 1,660,794 |
Business interruption insurance proceeds |  | 378 |  |  | — |  |  | — |  |  | — |  |  | 378 |
Total revenue |  | $ | 1,586,405 |  |  | $ | 64,962 |  |  | $ | 17,119 |  |  | $ | 1,109 |  |  | $ | 1,669,595 |
__________________________________ (1)Revenue represents third-party management, asset management and developer fees and miscellaneous income and other ancillary items which are not allocated to a reportable segment. (2)Amounts include revenue streams related to leasing activities that are not considered components of a lease, including but not limited to, apartment hold fees and application fees, as well as revenue streams not related to leasing activities, including but not limited to, vendor revenue sharing, building advertising, vending and dry cleaning revenue. (3)Represents all revenue accounted for under ASC 606, Revenue from Contracts with Customers. (4)Amounts include all revenue streams derived from residential and commercial rental income and other lease income, which are accounted for under ASC 842.

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