XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.22.1

Organization, Basis of Presentation and Significant Accounting Policies (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
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 |  |
| 3/31/2022 |  | 3/31/2021 |  |  |  |
Basic and diluted shares outstanding |  |  |  |  |  |  |
Weighted average common shares - basic | 139,559,904 |  |  | 139,291,187 |  |  |  |  |
Weighted average DownREIT units outstanding | 7,500 |  |  | 7,500 |  |  |  |  |
Effect of dilutive securities | 408,678 |  |  | 253,726 |  |  |  |  |
Weighted average common shares - diluted | 139,976,082 |  |  | 139,552,413 |  |  |  |  |
Calculation of Earnings per Share - basic |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 262,044 |  |  | $ | 142,223 |  |  |  |  |
Net income allocated to unvested restricted shares | (523) |  |  | (324) |  |  |  |  |
Net income attributable to common stockholders, adjusted | $ | 261,521 |  |  | $ | 141,899 |  |  |  |  |
Weighted average common shares - basic | 139,559,904 |  |  | 139,291,187 |  |  |  |  |
Earnings per common share - basic | $ | 1.87 |  |  | $ | 1.02 |  |  |  |  |
Calculation of Earnings per Share - diluted |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 262,044 |  |  | $ | 142,223 |  |  |  |  |
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations | 12 |  |  | 12 |  |  |  |  |
Adjusted net income attributable to common stockholders | $ | 262,056 |  |  | $ | 142,235 |  |  |  |  |
Weighted average common shares - diluted | 139,976,082 |  |  | 139,552,413 |  |  |  |  |
Earnings per common share - diluted | $ | 1.87 |  |  | $ | 1.02 |  |  |  |  |
Disaggregation of revenue | The following table details the Company’s revenue disaggregated by reportable operating segment, further discussed in Note 8, “Segment Reporting,” for the three months ended March 31, 2022 and 2021. Segment information for total revenue excludes real estate assets that were sold from January 1, 2021 through March 31, 2022, or otherwise qualify as held for sale as of March 31, 2022, 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 March 31, 2022 |  |  |  |  |  |  |  |  |  |
Management, development and other fees and other ancillary items |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 752 |  |  | $ | 752 |
Rental and non-rental related income (2) |  | 2,060 |  |  | 587 |  |  | 57 |  |  | — |  |  | 2,704 |
Total non-lease revenue (3) |  | 2,060 |  |  | 587 |  |  | 57 |  |  | 752 |  |  | 3,456 |
Lease income (4) |  | 544,779 |  |  | 45,012 |  |  | 17,461 |  |  | — |  |  | 607,252 |
Total revenue |  | $ | 546,839 |  |  | $ | 45,599 |  |  | $ | 17,518 |  |  | $ | 752 |  |  | $ | 610,708 |
For the period ended March 31, 2021 |  |  |  |  |  |  |  |  |  |
Management, development and other fees and other ancillary items |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 877 |  |  | $ | 877 |
Rental and non-rental related income (2) |  | 1,684 |  |  | 447 |  |  | 47 |  |  | — |  |  | 2,178 |
Total non-lease revenue (3) |  | 1,684 |  |  | 447 |  |  | 47 |  |  | 877 |  |  | 3,055 |
Lease income (4) |  | 501,509 |  |  | 20,511 |  |  | 7,026 |  |  | — |  |  | 529,046 |
Total revenue |  | $ | 503,193 |  |  | $ | 20,958 |  |  | $ | 7,073 |  |  | $ | 877 |  |  | $ | 532,101 |
__________________________________ (1)Revenue represents third-party property management, 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 revenue accounted for under ASC 606. (4)Represents residential and commercial rental and other lease income, which are accounted for under ASC 842.

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration