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Condensed Consolidated Statements Of Income And Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Property revenues        
Rental revenues $ 166,179 $ 140,332 $ 477,501 $ 412,794
Other property revenues 28,025 23,892 79,322 68,605
Total property revenues 194,204 164,224 556,823 481,399
Property expenses        
Property operating and maintenance 54,008 48,731 153,491 138,974
Real estate taxes 19,096 16,892 56,586 51,596
Total property expenses 73,104 65,623 210,077 190,570
Non-property income        
Fee and asset management 3,041 2,646 9,572 6,955
Interest and other income (loss) 3 (108) (750) 4,749
Income (loss) on deferred compensation plans (1,781) (6,096) 3,820 1,233
Total non-property income (loss) 1,263 (3,558) 12,642 12,937
Other expenses        
Property management 5,509 5,050 15,644 15,478
Fee and asset management 1,864 1,330 5,051 4,220
General and administrative 9,303 8,572 27,712 26,392
Interest 25,865 27,354 78,795 85,472
Depreciation and amortization 52,588 43,367 155,579 133,547
Amortization of deferred financing costs 909 1,344 2,721 4,761
Expense (benefit) on deferred compensation plans (1,781) (6,096) 3,820 1,233
Total other expenses 94,257 80,921 289,322 271,103
Gain on acquisition of controlling interest in joint ventures 0 0 40,191 0
Gain on sale of properties, including land 0 0 0 4,748
Gain on sale of unconsolidated joint venture interests 0 0 0 1,136
Loss on discontinuation of hedging relationship 0 0 0 (29,791)
Equity in income (loss) of joint ventures 3,688 [1] (556) [1] 4,686 [1] (166) [1]
Income from continuing operations before income taxes 31,794 13,566 114,943 8,590
Income tax expense - current (334) (313) (992) (1,889)
Income from continuing operations 31,460 13,253 113,951 6,701
Income from discontinued operations 343 1,098 1,262 3,196
Gain on sale of discontinued operations, net of tax 0 0 32,541 0
Net income 31,803 14,351 147,754 9,897
Less income allocated to noncontrolling interests from continuing operations (1,100) (752) (3,009) (2,089)
Less income, including gain on sale, allocated to noncontrolling interests from discontinued operations 0 (9) (670) (29)
Less income allocated to perpetual preferred units 0 (1,750) (776) (5,250)
Less write off of original issuance costs of redeemed perpetual preferred units 0 0 (2,075) 0
Net income attributable to common shareholders 30,703 11,840 141,224 2,529
Earnings per share - basic        
Income (loss) from continuing operations attributable to common shareholders $ 0.35 $ 0.14 $ 1.29 $ (0.01)
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 0.01 $ 0.02 $ 0.40 $ 0.04
Net income attributable to common shareholders, as adjusted - per share $ 0.36 $ 0.16 $ 1.69 $ 0.03
Earnings per share - diluted        
Income (loss) from continuing operations attributable to common shareholders $ 0.35 $ 0.14 $ 1.27 $ (0.01)
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 0.00 $ 0.02 $ 0.39 $ 0.04
Net income attributable to common shareholders, as adjusted - per share $ 0.35 $ 0.16 $ 1.66 $ 0.03
Distributions declared per common share $ 0.56 $ 0.49 $ 1.68 $ 1.47
Weighted average number of common shares outstanding - basic 85,631 73,242 82,923 72,502
Weighted average number of common shares outstanding - diluted 86,293 74,274 84,694 72,502
Net income attributable to common shareholders        
Income from continuing operations 31,460 13,253 113,951 6,701
Less income allocated to noncontrolling interests from continuing operations (1,100) (752) (3,009) (2,089)
Less income allocated to perpetual preferred units 0 (1,750) (776) (5,250)
Less write off of original issuance costs of redeemed perpetual preferred units 0 0 (2,075) 0
Income (loss) from continuing operations attributable to common shareholders 30,360 10,751 108,091 (638)
Income from discontinued operations, including gain on sale 343 1,098 33,803 3,196
Less income, including gain on sale, allocated to noncontrolling interests from discontinued operations 0 (9) (670) (29)
Income from discontinued operations, including gain on sale, attributable to common shareholders 343 1,089 33,133 3,167
Net income attributable to common shareholders 30,703 11,840 141,224 2,529
Condensed Consolidated Statements of Comprehensive Income:        
Net income 31,803 14,351 147,754 9,897
Other comprehensive income        
Unrealized loss on cash flow hedging activities 0 0 0 (2,692)
Reclassification of net losses on cash flow hedging activities 0 108 0 39,660
Reclassification of gain on available-for-sale investment to earnings, net of tax 0 0 0 (3,309)
Reclassification of prior service cost on post retirement obligations 7 0 23 0
Comprehensive income 31,810 14,459 147,777 43,556
Less income allocated to noncontrolling interests from continuing operations (1,100) (752) (3,009) (2,089)
Less income, including gain on sale, allocated to noncontrolling interests from discontinued operations 0 (9) (670) (29)
Less income allocated to perpetual preferred units 0 (1,750) (776) (5,250)
Less write off of original issuance costs of redeemed perpetual preferred units 0 0 (2,075) 0
Comprehensive income attributable to common shareholders $ 30,710 $ 11,948 $ 141,247 $ 36,188
[1] Equity in income (loss) excludes our ownership interest of fee income from various property management services provided by us to our joint ventures.