XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements Of Income And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Property revenues    
Property revenues $ 378,163 $ 311,359
Property expenses    
Property operating and maintenance 85,285 70,437
Real estate taxes 49,396 39,873
Total property expenses 134,681 110,310
Non-property income/(loss)    
Fee and asset management 578 2,450
Interest and other income 62 2,131
Income/(loss) on deferred compensation plans 5,912 (7,497)
Total non-property income/(loss) 6,552 (2,916)
Other expenses    
Property management 8,297 7,214
Fee and asset management 413 1,175
General and administrative 15,356 14,790
Interest 32,843 24,542
Depreciation and amortization 142,444 113,138
Expense/(benefit) on deferred compensation plans 5,912 (7,497)
Total other expenses 205,265 153,362
Gain on sale of operating property 0 36,372
Equity in income of joint ventures 0 3,048
Income from continuing operations before income taxes 44,769 84,191
Income tax expense (1,150) (590)
Net income 43,619 83,601
Less income allocated to non-controlling interests (1,702) (2,856)
Net income attributable to common shareholders $ 41,917 $ 80,745
Earnings per share – basic $ 0.39 $ 0.77
Earnings per share – diluted $ 0.39 $ 0.76
Weighted average number of common shares outstanding – basic 108,568 105,336
Weighted average number of common shares outstanding – diluted 108,604 106,152
Condensed Consolidated Statements of Comprehensive Income    
Net income $ 43,619 $ 83,601
Other comprehensive income    
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation 359 369
Comprehensive income 43,978 83,970
Less income allocated to non-controlling interests (1,702) (2,856)
Comprehensive income attributable to common shareholders $ 42,276 $ 81,114