XML 23 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES        
Rental income $ 612,299 $ 594,939 $ 1,216,219 $ 1,211,104
Fee and asset management 181 215 361 3,133
Total revenues 612,480 595,154 1,216,580 1,214,237
EXPENSES        
Property and maintenance 99,316 96,307 201,924 205,472
Real estate taxes and insurance 87,503 77,415 169,231 157,611
Property management 21,589 20,991 43,841 44,486
General and administrative 13,626 18,296 27,799 35,013
Depreciation 179,896 176,127 358,864 349,012
Total expenses 401,930 389,136 801,659 791,594
Operating income 210,550 206,018 414,921 422,643
Interest and other income 1,162 56,525 1,763 59,583
Other expenses (1,042) (1,504) (2,132) (4,060)
Interest:        
Expense incurred, net (91,224) (86,472) (197,434) (299,964)
Amortization of deferred financing costs (2,087) (2,345) (4,383) (7,739)
Income before income and other taxes, (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations 117,359 172,222 212,735 170,463
Income and other tax (expense) benefit (220) (413) (482) (763)
(Loss) from investments in unconsolidated entities (682) (800) (1,755) (1,904)
Net gain on sales of real estate properties 87,726 57,356 124,433 3,780,835
Net gain (loss) on sales of land parcels (23)   19,170 11,722
Income from continuing operations 204,160 228,365 354,101 3,960,353
Discontinued operations, net 0 35 0 (122)
Net income 204,160 228,400 354,101 3,960,231
Net (income) attributable to Noncontrolling Interests:        
Operating Partnership (7,354) (8,780) (12,765) (152,089)
Partially Owned Properties (765) (781) (1,553) (1,545)
Net income attributable to controlling interests 196,041 218,839 339,783 3,806,597
Preferred distributions (773) (772) (1,546) (1,545)
Net income available to Common Shares $ 195,268 $ 218,067 $ 338,237 $ 3,805,052
Earnings per share – basic:        
Income from continuing operations available to Common Shares $ 0.53 $ 0.60 $ 0.92 $ 10.43
Net income available to Common Shares $ 0.53 $ 0.60 $ 0.92 $ 10.43
Weighted average Common Shares outstanding 366,820 365,047 366,713 364,820
Earnings per share – diluted:        
Income from continuing operations available to Common Shares $ 0.53 $ 0.59 $ 0.92 $ 10.36
Net income available to Common Shares $ 0.53 $ 0.59 $ 0.92 $ 10.36
Weighted average Common Shares outstanding 382,692 382,065 382,505 382,012
Distributions declared per Common Share outstanding $ 0.50375 $ 0.50375 $ 1.0075 $ 9.0075