XML 38 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Rental income $ 110,986 $ 100,318 $ 220,491 $ 198,870
Residents fees and services 35,986 844 71,554 844
Total revenues 146,972 101,162 292,045 199,714
Expenses:        
Depreciation 35,230 26,935 68,607 53,296
Property operating expenses 40,734 11,302 80,068 21,735
General and administrative 8,068 6,793 15,753 12,949
Acquisition related costs 1,829 2,814 2,517 3,927
Impairment of assets     3,071 166
Total expenses 85,861 47,844 170,016 92,073
Operating income 61,111 53,318 122,029 107,641
Interest and other income 227 244 709 476
Interest expense (28,120) (23,361) (57,009) (46,107)
Loss on early extinguishment of debt   (427)   (427)
Gain on sale of properties   21,315   21,315
Equity in earnings of an investee 76 46 121 83
Income before income tax expense 33,294 51,135 65,850 82,981
Income tax expense (43) (87) (247) (158)
Net income 33,251 51,048 65,603 82,823
Other comprehensive income:        
Change in net unrealized loss on investments (1,315) (6,727) 916 (3,183)
Share of comprehensive (loss) income of an investee (3) 39 (4) 43
Comprehensive income $ 31,933 $ 44,360 $ 66,515 $ 79,683
Weighted average shares outstanding (in shares) 162,670 141,869 162,659 141,862
Net income per share (in dollars per share) $ 0.20 $ 0.36 $ 0.40 $ 0.58