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Consolidated Statements Of Income And Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Property revenues      
Rental revenues $ 683,362 $ 602,004 $ 516,182
Other property revenues 105,489 96,314 83,219
Total property revenues 788,851 [1] 698,318 [1] 599,401
Property expenses      
Property operating and maintenance 199,650 185,720 166,866
Real estate taxes 86,041 70,710 63,346
Total property expenses 285,691 256,430 230,212
Non-property income      
Fee and asset management 11,690 12,345 9,973
Interest and other income (loss) 1,217 (710) 4,649
Income on deferred compensation plans 8,290 4,772 6,773
Total non-property income 21,197 16,407 21,395
Other expenses      
Property management 21,774 21,796 20,686
Fee and asset management 5,756 6,631 5,935
General and administrative 40,586 37,528 35,456
Interest 98,129 104,246 112,414
Depreciation and amortization 214,395 194,673 165,486
Amortization of deferred financing costs 3,548 3,608 5,877
Expense on deferred compensation plans 8,290 4,772 6,773
Total other expenses 392,478 373,254 352,627
Gain on acquisition of controlling interest in joint ventures 0 57,418 0
Gain on sale of properties, including land 698 0 4,748
Gain on sale of unconsolidated joint venture interests 0 0 1,136
Loss on discontinuation of hedging relationship 0 0 (29,791)
Equity in income of joint ventures 24,865 20,175 5,679 [2]
Income from continuing operations before income taxes 157,442 162,634 19,729
Income tax expense - current (1,826) (1,208) (2,220)
Income from continuing operations 155,616 161,426 17,509
Income from discontinued operations 8,515 17,406 17,831
Gain on sale of discontinued operations, net of tax 182,160 115,068 24,621
Net income 346,291 293,900 59,961
Less income allocated to non-controlling interests from continuing operations (4,022) (4,459) (3,126)
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (5,905) (3,200) (456)
Less income allocated to perpetual preferred units 0 (776) (7,000)
Less write off of original issuance costs of redeemed perpetual preferred units 0 (2,075) 0
Net income attributable to common shareholders 336,364 [1] 283,390 [1] 49,379
Earnings per share - basic      
Income from continuing operations attributable to common shareholders $ 1.70 $ 1.81 $ 0.09
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 2.12 $ 1.54 $ 0.58
Net income attributable to common shareholders, as adjusted - per share $ 3.82 [1] $ 3.35 [1] $ 0.67
Earnings per share - diluted      
Income from continuing operations attributable to common shareholders $ 1.69 $ 1.79 $ 0.09
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 2.09 $ 1.51 $ 0.57
Net income attributable to common shareholders, as adjusted - per share $ 3.78 [1] $ 3.30 [1] $ 0.66
Weighted average number of common shares outstanding - basic 87,204 83,772 72,756
Weighted average number of common shares outstanding - diluted 88,494 85,556 73,462
Net income attributable to common shareholders      
Income from continuing operations 155,616 161,426 17,509
Less income allocated to non-controlling interests from continuing operations (4,022) (4,459) (3,126)
Less income allocated to perpetual preferred units 0 (776) (7,000)
Less write off of original issuance costs of redeemed perpetual preferred units 0 (2,075) 0
Income from continuing operations attributable to common shareholders 151,594 154,116 7,383
Income from discontinued operations, including gain on sale 190,675 132,474 42,452
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (5,905) (3,200) (456)
Income from discontinued operations, including gain on sale, attributable to common shareholders 184,770 129,274 41,996
Net income attributable to common shareholders 336,364 [1] 283,390 [1] 49,379
Consolidated Statements of Comprehensive Income:      
Net income 346,291 293,900 59,961
Other comprehensive income      
Unrealized loss on cash flow hedging activities 0 0 (2,692)
Reclassification of net losses on cash flow hedging activities 0 0 39,657
Reclassification of gain on available-for-sale investment to earnings, net of tax 0 0 (3,306)
Reclassification of prior service cost and net loss on post retirement obligations 54 30 0
Unrealized loss and unamortized prior service cost on postretirement obligation (99) (409) (884)
Comprehensive income 346,246 293,521 92,736
Less income allocated to non-controlling interests from continuing operations (4,022) (4,459) (3,126)
Less income, including gain on sale, allocated to non-controlling interests from discontinued operations (5,905) (3,200) (456)
Less income allocated to perpetual preferred units 0 (776) (7,000)
Less write off of original issuance costs of redeemed perpetual preferred units 0 (2,075) 0
Comprehensive income attributable to common shareholders $ 336,319 $ 283,011 $ 82,154
[1] (a)Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year.
[2] Equity in income excludes our ownership interest of fee income from various property management services provided by us to our joint ventures.