Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Reconciliation of NOI from Rental Real Estate Specific to Continuing Operations

The following table presents a reconciliation of NOI from our rental real estate for the years ended December 31, 2019, 2018 and 2017, respectively (amounts in thousands):

	Year Ended December 31,
	2019			2018			2017
Rental income	$	2,700,691		$	2,577,681		$	2,470,689
Property and maintenance expense		(446,845	)		(429,335	)		(405,281	)
Real estate taxes and insurance expense		(366,139	)		(357,814	)		(335,495	)
Total operating expenses		(812,984	)		(787,149	)		(740,776	)
Net operating income	$	1,887,707		$	1,790,532		$	1,729,913

Schedule of NOI for Each Segment from Rental Real Estate Specific to Continuing Operations

The following tables present NOI for each segment from our rental real estate for the years ended December 31, 2019, 2018 and 2017, respectively, as well as total assets and capital expenditures at December 31, 2019 and 2018, respectively (amounts in thousands):

	Year Ended December 31, 2019						Year Ended December 31, 2018						Year Ended December 31, 2017
	Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI		Rental Income		Operating Expenses		NOI
Same store (1)
Los Angeles	$	468,517	$	136,096	$	332,421	$	451,592	$	129,455	$	322,137	$	402,192	$	114,055	$	288,137
Orange County		105,087		24,407		80,680		101,198		24,468		76,730		88,527		21,544		66,983
San Diego		95,042		24,636		70,406		91,971		24,024		67,947		88,507		23,073		65,434
Subtotal - Southern California		668,646		185,139		483,507		644,761		177,947		466,814		579,226		158,672		420,554

San Francisco		480,499		116,036		364,463		463,492		112,331		351,161		430,501		108,689		321,812
Washington D.C.		413,006		125,688		287,318		403,761		123,345		280,416		430,060		129,720		300,340
New York		454,448		188,784		265,664		444,112		178,055		266,057		454,945		170,064		284,881
Boston		227,547		62,176		165,371		218,778		60,409		158,369		223,595		60,931		162,664
Seattle		207,019		56,016		151,003		200,222		55,871		144,351		191,074		52,470		138,604
Other Markets		2,094		714		1,380		1,940		658		1,282		1,839		652		1,187
Total same store		2,453,259		734,553		1,718,706		2,377,066		708,616		1,668,450		2,311,240		681,198		1,630,042

Non-same store/other (2) (3)
Non-same store		196,476		62,591		133,885		103,688		36,874		66,814		95,016		30,742		64,274
Other (3)		50,956		15,840		35,116		96,927		41,659		55,268		64,433		28,836		35,597
Total non-same store/other		247,432		78,431		169,001		200,615		78,533		122,082		159,449		59,578		99,871

Totals	$	2,700,691	$	812,984	$	1,887,707	$	2,577,681	$	787,149	$	1,790,532	$	2,470,689	$	740,776	$	1,729,913

(1)

For the years ended December 31, 2019 and 2018, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2018, less properties subsequently sold, which represented 71,830 apartment units. For the year ended December 31, 2017, same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2017, less properties subsequently sold, which represented 71,721 apartment units.

(2)

For the years ended December 31, 2019 and 2018, non-same store primarily includes properties acquired after January 1, 2018, plus any properties in lease-up and not stabilized as of January 1, 2018. For the year ended December 31, 2017, non-same store primarily includes properties acquired after January 1, 2017, plus any properties in lease-up and not stabilized as of January 1, 2017.

(3)	Other includes development, other corporate operations and operations prior to disposition for properties sold.

	Year Ended December 31, 2019				Year Ended December 31, 2018
	Total Assets		Capital Expenditures		Total Assets		Capital Expenditures
Same store (1)
Los Angeles	$	2,975,420	$	31,738	$	2,958,361	$	28,574
Orange County		404,545		9,276		418,041		8,214
San Diego		389,537		4,464		405,449		4,525
Subtotal - Southern California		3,769,502		45,478		3,781,851		41,313

San Francisco		3,238,884		28,153		3,325,595		42,497
Washington D.C.		3,370,750		23,015		3,484,045		26,981
New York		3,866,500		25,132		3,878,580		23,126
Boston		1,464,196		23,823		1,514,814		24,000
Seattle		1,292,609		19,990		1,330,959		18,065
Other Markets		12,931		194		12,781		163
Total same store		17,015,372		165,785		17,328,625		176,145

Non-same store/other (2) (3)
Non-same store		3,447,497		10,788		1,990,102		5,934
Other (3)		709,900		1,850		1,075,482		6,422
Total non-same store/other		4,157,397		12,638		3,065,584		12,356

Totals	$	21,172,769	$	178,423	$	20,394,209	$	188,501

(1)	Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2018, less properties subsequently sold, which represented 71,830 apartment units.

(2)	Non-same store primarily includes properties acquired after January 1, 2018, plus any properties in lease-up and not stabilized as of January 1, 2018.

(3)	Other includes development, other corporate operations and capital expenditures for properties sold.