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Condensed Consolidated Statements Of Income And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Property revenues        
Rental revenues $ 208,634 $ 190,470 $ 412,139 $ 378,572
Other property revenues 28,499 32,900 55,677 64,319
Total property revenues 237,133 223,370 467,816 442,891
Property expenses        
Property operating and maintenance 54,735 52,550 108,651 104,098
Real estate taxes 30,326 27,803 60,375 55,723
Total property expenses 85,061 80,353 169,026 159,821
Non-property income        
Fee and asset management 1,826 1,942 3,824 3,690
Interest and other income 491 560 1,284 1,194
Income on deferred compensation plans 435 3,441 230 8,058
Total non-property income 2,752 5,943 5,338 12,942
Other expenses        
Property management 6,473 6,554 13,112 13,581
Fee and asset management 1,088 961 2,053 1,845
General and administrative 12,272 12,451 24,495 25,319
Interest 20,607 21,966 40,981 44,922
Depreciation and amortization 75,569 65,033 145,793 128,767
Expense on deferred compensation plans 435 3,441 230 8,058
Total other expenses 116,444 110,406 226,664 222,492
Loss on early retirement of debt 0 0 0 (323)
Equity in income of joint ventures [1] 1,872 1,785 3,701 3,602
Income from continuing operations before income taxes 40,252 40,339 81,165 76,799
Income tax expense (380) (25) (768) (496)
Net income 39,872 40,314 80,397 76,303
Less income allocated to non-controlling interests from continuing operations (1,201) (1,126) (2,331) (2,254)
Net income attributable to common shareholders $ 38,671 $ 39,188 $ 78,066 $ 74,049
Earnings per share – basic $ 0.40 $ 0.43 $ 0.81 $ 0.82
Earnings per share – diluted 0.40 0.43 0.81 0.82
Distributions declared per common share $ 0.77 $ 0.75 $ 1.54 $ 1.50
Weighted average number of common shares outstanding – basic 95,243 90,105 95,155 90,015
Weighted average number of common shares outstanding – diluted 95,337 91,041 95,289 90,995
Condensed Consolidated Statements of Comprehensive Income        
Net income $ 39,872 $ 40,314 $ 80,397 $ 76,303
Other comprehensive income        
Unrealized gain on cash flow hedging activities 5,181 0 8,782 0
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post-retirement obligation 34 34 69 68
Comprehensive income 45,087 40,348 89,248 76,371
Less income allocated to non-controlling interests from continuing operations (1,201) (1,126) (2,331) (2,254)
Comprehensive income attributable to common shareholders $ 43,886 $ 39,222 $ 86,917 $ 74,117
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.