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Reportable Segments - Consolidated Net Income (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Segment Reporting Information |  |  |
Operations revenues | $ 1,526,166 | $ 1,489,423 | $ 1,447,080
Reconciliation to consolidated net income: |  |  |
Depreciation and amortization | (203,879) | (203,738) | (202,362)
Income from other investments, net | 75,354 | 67,407 | 56,144
General and administrative | (38,483) | (47,280) | (44,857)
Casualty-related charges/(recoveries), net | (20,950) | 0 | 0
Other expenses | (5,533) | (5,768) | (8,646)
Interest and related amortization | (137,710) | (132,342) | (116,562)
Income tax benefit | 354 | 10,488 | 0
Equity in income of unconsolidated joint ventures | 6,248 | 2,713 | 3,363
Early debt retirement | (5,833) | (68) | (1,156)
Consolidated net income | 384,818 | 329,677 | 298,825
Total assets | 5,645,652 | 5,613,733 | 5,492,519
Capital Improvements | 241,279 | 317,086 | 249,277
Property Operations |  |  |
Reconciliation to consolidated net income: |  |  |
Total assets | 5,402,509 | 5,342,386 | 5,228,575
Capital Improvements | 227,942 | 290,081 | 227,172
Home Sales and Rentals Operations |  |  |
Reconciliation to consolidated net income: |  |  |
Total assets | 243,143 | 271,347 | 263,944
Capital Improvements | 13,337 | 27,005 | 22,105
Operating Segments |  |  |
Segment Reporting Information |  |  |
Operations revenues | 1,508,654 | 1,471,683 | 1,431,097
Operations expenses | (774,996) | (780,170) | (778,035)
NOI | 733,658 | 691,513 | 653,062
Reconciliation to consolidated net income: |  |  |
Depreciation and amortization | (203,879) | (203,738) | (202,362)
Loss on sale of real estate, net | (2,466) | (3,581) |
Income from other investments, net | 75,354 | 67,407 |
Operating Segments | Property Operations |  |  |
Segment Reporting Information |  |  |
Operations revenues | 1,422,422 | 1,361,792 | 1,291,467
Operations expenses | (701,838) | (685,392) | (656,839)
NOI | 720,584 | 676,400 | 634,628
Reconciliation to consolidated net income: |  |  |
Income from other investments, net |  |  | 56,144
Operating Segments | Home Sales and Rentals Operations |  |  |
Segment Reporting Information |  |  |
Operations revenues | 86,232 | 109,891 | 139,630
Operations expenses | (73,158) | (94,778) | (121,196)
NOI | 13,074 | 15,113 | 18,434
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment |  |  |
Reconciliation to consolidated net income: |  |  |
Interest income | 9,238 | 9,037 | 7,430
Income from other investments, net | 8,274 | 8,703 | 8,553
General and administrative | (38,483) | (47,280) | (44,857)
Casualty-related charges/(recoveries), net | 20,950 |  |
Other expenses | (5,533) | (5,768) | (8,646)
Interest and related amortization | (137,710) | (132,342) | (116,562)
Income tax benefit | 354 | 10,488 |
Equity in income of unconsolidated joint ventures | 6,248 | 2,713 | 3,363
Early debt retirement | $ 5,833 | $ (68) | $ (1,156)

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