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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, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Property revenues        
Property revenues $ 385,499 $ 361,716 $ 763,662 $ 673,075
Property expenses        
Property operating and maintenance 87,742 79,418 173,027 149,855
Real estate taxes 49,855 48,393 99,251 88,266
Total property expenses 137,597 127,811 272,278 238,121
Non-property income/(loss)        
Fee and asset management 718 1,190 1,296 3,640
Interest and other income 431 662 493 2,793
Income/(loss) on deferred compensation plans 2,844 (14,678) 8,756 (22,175)
Total non-property income/(loss) 3,993 (12,826) 10,545 (15,742)
Other expenses        
Property management 8,751 7,282 17,048 14,496
Fee and asset management 420 359 833 1,534
General and administrative 15,863 15,734 31,219 30,524
Interest 33,578 29,022 66,421 53,564
Depreciation and amortization 143,054 157,734 285,498 270,872
Expense/(benefit) on deferred compensation plans 2,844 (14,678) 8,756 (22,175)
Total other expenses 204,510 195,453 409,775 348,815
Gain (Loss) on Extinguishment of Debt (2,513) 0 (2,513) 0
Gain on sale of operating property 48,919 0 48,919 36,372
Gain on acquisition of unconsolidated joint venture interests 0 474,146 0 474,146
Equity in income of joint ventures 0 0 0 3,048
Income from continuing operations before income taxes 93,791 499,772 138,560 583,963
Income tax expense (851) (886) (2,001) (1,476)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total 92,940 498,886 136,559 582,487
Less income allocated to non-controlling interests (1,841) (1,571) (3,543) (4,427)
Net income attributable to common shareholders $ 91,099 $ 497,315 $ 133,016 $ 578,060
Earnings per share – basic $ 0.84 $ 4.59 $ 1.22 $ 5.41
Earnings per share – diluted $ 0.84 $ 4.54 $ 1.22 $ 5.37
Weighted average number of common shares outstanding – basic 108,663 108,106 108,616 106,729
Weighted average number of common shares outstanding – diluted 109,392 109,745 108,636 108,393
Condensed Consolidated Statements of Comprehensive Income        
Net income $ 92,940 $ 498,886 $ 136,559 $ 582,487
Other comprehensive income        
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation 358 369 717 738
Comprehensive income 93,298 499,255 137,276 583,225
Less income allocated to non-controlling interests (1,841) (1,571) (3,543) (4,427)
Comprehensive income attributable to common shareholders $ 91,457 $ 497,684 $ 133,733 $ 578,798