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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Revenues from rental properties $ 1,183,785 $ 1,152,401 $ 1,144,474
Management and other fee income 17,049 18,391 22,295
Total revenues 1,200,834 1,170,792 1,166,769
Operating expenses      
Rent 11,145 10,993 12,347
Real estate taxes 157,196 146,615 147,150
Operating and maintenance 142,787 140,910 144,980
General and administrative 118,455 117,302 122,735
Provision for doubtful accounts 5,630 5,563 6,075
Impairment charges 67,331 93,266 45,383
Depreciation and amortization 360,811 355,320 344,527
Total operating expenses 863,355 869,969 823,197
Operating income 337,479 300,823 343,572
Other income/(expense)      
Interest, dividends and other investment income 2,809 1,478 39,061
Other (expense)/income, net (250) 3,947 5,174
Interest expense (191,956) (192,549) (218,891)
Early extinguishment of debt charges (1,753) (45,674)
Income from continuing operations before income taxes, net, equity in income of joint ventures, net, gain on change in control of interests and equity in income from other real estate investments, net 146,329 68,025 168,916
Benefit/(provision) for income taxes, net 880 (72,545) (60,230)
Equity in income of joint ventures, net 60,763 218,714 480,395
Gain on change in control of interests 71,160 57,386 149,234
Income from continuing operations 346,133 299,353 774,405
Discontinued operations      
Loss from discontinued operating properties, net of tax (15)
Impairment/loss on operating properties, net of tax (60)
Loss from discontinued operations (75)
Gain on sale of operating properties, net, net of tax 93,538 86,785 125,813
Net income 439,671 386,138 900,143
Net income attributable to noncontrolling interests (13,596) (7,288) (6,028)
Net income attributable to the Company 426,075 378,850 894,115
Preferred stock redemption charge (7,014) (5,816)
Preferred dividends (46,600) (46,220) (57,084)
Net income available to the Company's common shareholders $ 372,461 $ 332,630 $ 831,215
Per common share:      
-Basic (in dollars per share) $ 0.87 $ 0.79 $ 2.01
-Diluted (in dollars per share) 0.87 0.79 2
Net income available to the Company:      
-Basic (in dollars per share) 0.87 0.79 2.01
-Diluted (in dollars per share) $ 0.87 $ 0.79 $ 2
Weighted average shares:      
-Basic (in shares) 423,614 418,402 411,319
-Diluted (in shares) [1] 424,019 419,709 412,851
Amounts available to the Company's common shareholders:      
Income from continuing operations $ 372,461 $ 332,630 $ 831,290
Loss from discontinued operations (75)
Net income available to the Company's common shareholders 372,461 332,630 831,215
Joint Ventures [Member]      
Other income/(expense)      
Equity in income of joint ventures, net 60,763 218,714 480,395
Other Real Estate Investments [Member]      
Other income/(expense)      
Equity in income of joint ventures, net $ 67,001 $ 27,773 $ 36,090
[1] The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 3,082,106, 3,490,400 and 5,300,680 stock options that were not dilutive as of December 31, 2017, 2016 and 2015, respectively.