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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Rental income $ 168,348 $ 165,503 $ 501,437 $ 490,922
Residents fees and services 98,331 98,480 294,816 292,803
Total revenues 266,679 263,983 796,253 783,725
Expenses:        
Property operating expenses 104,714 103,347 308,565 298,776
Depreciation and amortization 66,619 72,344 209,463 214,938
General and administrative 19,883 12,107 57,889 34,931
Acquisition and certain other transaction related costs 0 824 292 1,443
Impairment of assets 0 4,578 5,082 16,930
Total expenses 191,216 193,200 581,291 567,018
Operating income 75,463 70,783 214,962 216,707
Dividend income 659 659 1,978 1,449
Interest and other income 128 89 323 330
Interest expense (40,105) (43,438) (124,394) (123,837)
Loss on early extinguishment of debt (274) (84) (7,627) (90)
Income from continuing operations before income tax expense and equity in earnings of an investee 35,871 28,009 85,242 94,559
Income tax expense (109) (119) (300) (318)
Equity in earnings of an investee 31 13 533 107
Income before gain on sale of properties 35,793 27,903 85,475 94,348
Gain on sale of properties 0 0 0 4,061
Net income 35,793 27,903 85,475 98,409
Net income attributable to noncontrolling interest (1,379) 0 (2,865) 0
Net income attributable to common shareholders 34,414 27,903 82,610 98,409
Other comprehensive income:        
Unrealized gain on investments in available for sale securities 7,333 16,562 26,383 56,680
Amounts reclassified from cumulative other comprehensive income to net income 0 0 5,082 0
Equity in unrealized gain of an investee 116 80 296 175
Other comprehensive income 7,449 16,642 31,761 56,855
Comprehensive income 43,242 44,545 117,236 155,264
Comprehensive income attributable to noncontrolling interest (1,379) 0 (2,865) 0
Comprehensive income attributable to common shareholders $ 41,863 $ 44,545 $ 114,371 $ 155,264
Weighted average common shares outstanding (basic) (in shares) 237,421 237,347 237,404 237,329
Weighted average common shares outstanding (diluted) (in shares) 237,460 237,396 237,445 237,369
Per common share amounts (basic and diluted):        
Net income attributable to common shareholders (in dollars per share) $ 0.14 $ 0.12 $ 0.35 $ 0.41