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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
REVENUES |  |
Rental income | $ 632,831 | $ 603,920
Fee and asset management | 185 | 180
Total revenues | 633,016 | 604,100
EXPENSES |  |
Property and maintenance | 108,202 | 102,608
Real estate taxes and insurance | 91,914 | 81,728
Property management | 23,444 | 22,252
General and administrative | 16,278 | 14,173
Depreciation | 196,309 | 178,968
Total expenses | 436,147 | 399,729
Operating income | 196,869 | 204,371
Interest and other income | 5,880 | 601
Other expenses | (3,441) | (1,090)
Interest: |  |
Expense incurred, net | (116,104) | (106,210)
Amortization of deferred financing costs | (3,679) | (2,296)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of real estate properties and land parcels | 79,525 | 95,376
Income and other tax (expense) benefit | (213) | (262)
Income (loss) from investments in unconsolidated entities | (977) | (1,073)
Net gain (loss) on sales of real estate properties | 142,213 | 36,707
Net gain (loss) on sales of land parcels |  | 19,193
Net income | 220,548 | 149,941
Net (income) loss attributable to Noncontrolling Interests: |  |
Operating Partnership | (8,059) | (5,411)
Partially Owned Properties | (680) | (788)
Net income attributable to controlling interests | 211,809 | 143,742
Preferred distributions | (773) | (773)
Net income available to Common Shares | $ 211,036 | $ 142,969
Earnings per share – basic: |  |
Net income available to Common Shares | $ 0.57 | $ 0.39
Weighted average Common Shares outstanding | 367,800 | 366,605
Earnings per share – diluted: |  |
Net income available to Common Shares | $ 0.57 | $ 0.39
Weighted average Common Shares outstanding | 383,018 | 382,280
Distributions declared per Common Share outstanding | $ 0.54 | $ 0.50375

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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=96947427&loc=d3e1505-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=96947427&loc=d3e1448-109256 + Details
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