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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, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Real Estate [Abstract]        
Property revenues $ 387,150 $ 385,499 $ 770,291 $ 763,662
Property expenses        
Property operating and maintenance 90,126 87,742 179,170 173,027
Real estate taxes 48,763 49,855 98,264 99,251
Total property expenses 138,889 137,597 277,434 272,278
Non-property income        
Fee and asset management 2,606 718 3,890 1,296
Interest and other income 1,598 431 3,366 493
Income on deferred compensation plans 1,073 2,844 6,892 8,756
Total non-property income 5,277 3,993 14,148 10,545
Other expenses        
Property management 9,846 8,751 19,240 17,048
Fee and asset management 475 420 918 833
General and administrative 18,154 15,863 34,847 31,219
Interest 32,227 33,578 64,764 66,421
Depreciation and amortization 145,894 143,054 290,696 285,498
Expense on deferred compensation plans 1,073 2,844 6,892 8,756
Total other expenses 207,669 204,510 417,357 409,775
Loss on early retirement of debt 0 (2,513) (921) (2,513)
Gain on sale of operating property 0 48,919 43,806 48,919
Income from continuing operations before income taxes 45,869 93,791 132,533 138,560
Income tax expense (1,059) (851) (1,964) (2,001)
Net income 44,810 92,940 130,569 136,559
Less income allocated to non-controlling interests (1,893) (1,841) (3,763) (3,543)
Net income attributable to common shareholders $ 42,917 $ 91,099 $ 126,806 $ 133,016
Earnings per share – basic $ 0.40 $ 0.84 $ 1.17 $ 1.22
Earnings per share – diluted $ 0.40 $ 0.84 $ 1.17 $ 1.22
Weighted average number of common shares outstanding – basic 108,406 108,663 108,556 108,616
Weighted average number of common shares outstanding – diluted 108,424 109,392 108,577 108,636
Condensed Consolidated Statements of Comprehensive Income        
Net income $ 44,810 $ 92,940 $ 130,569 $ 136,559
Other comprehensive income        
Unrealized gain on cash flow hedging activities 0 0 85 0
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation 361 358 1,450 717
Comprehensive income 45,171 93,298 132,104 137,276
Less income allocated to non-controlling interests (1,893) (1,841) (3,763) (3,543)
Comprehensive income attributable to common shareholders $ 43,278 $ 91,457 $ 128,341 $ 133,733