2005(4) | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
(Dollars in thousands, except per share amounts) | ||||||||||||||||||||
Operating Data |
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Total revenues |
$ | 676,149 | $ | 592,429 | $ | 517,002 | $ | 497,453 | $ | 450,478 | ||||||||||
Income before minority interests and discontinued operations |
209,947 | 118,871 | 115,041 | 118,831 | 154,241 | |||||||||||||||
Income from continuing operations |
134,921 | 65,593 | 58,599 | 74,802 | 104,564 | |||||||||||||||
Income from discontinued operations |
122,886 | 59,878 | 70,529 | 46,317 | 31,636 | |||||||||||||||
Net income |
257,807 | 125,471 | 129,128 | 121,119 | 136,200 | |||||||||||||||
Net income available to common stockholders |
250,419 | 118,340 | 116,716 | 113,035 | 120,100 | |||||||||||||||
Income from continuing operations per common share: |
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Basic (2) |
1.52 | 0.71 | 0.57 | 0.80 | 1.05 | |||||||||||||||
Diluted (2) |
1.45 | 0.69 | 0.56 | 0.78 | 1.04 | |||||||||||||||
Income from discontinued operations per common share: |
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Basic (2) |
1.46 | 0.73 | 0.87 | 0.56 | 0.38 | |||||||||||||||
Diluted (2) |
1.40 | 0.70 | 0.85 | 0.55 | 0.37 | |||||||||||||||
Net income available to common stockholders per common share: |
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Basic (2) |
2.98 | 1.44 | 1.44 | 1.36 | 1.43 | |||||||||||||||
Diluted (2) |
2.85 | 1.39 | 1.41 | 1.33 | 1.41 | |||||||||||||||
Dividends declared per common share |
1.76 | 1.70 | 1.66 | 1.64 | 1.58 | |||||||||||||||
Other Data |
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Funds from operations |
$ | 254,363 | $ | 207,314 | $ | 186,666 | $ | 215,194 | $ | 186,707 | ||||||||||
Funds from operations per common share and unit: |
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Basic |
2.87 | 2.39 | 2.17 | 2.44 | 2.09 | |||||||||||||||
Diluted |
2.75 | 2.30 | 2.13 | 2.40 | 2.07 | |||||||||||||||
Cash flows provided by (used in): |
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Operating activities |
295,815 | 297,349 | 269,808 | 297,723 | 293,903 | |||||||||||||||
Investing activities |
(60,407 | ) | (731,402 | ) | (346,275 | ) | (253,312 | ) | (368,493 | ) | ||||||||||
Financing activities |
(101,856 | ) | 409,705 | 112,022 | (28,150 | ) | 127,303 | |||||||||||||
Balance Sheet Data |
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Investments in real estate at cost |
$ | 6,798,294 | $ | 6,526,144 | $ | 5,491,707 | $ | 4,922,782 | $ | 4,527,511 | ||||||||||
Total assets |
6,802,739 | 6,386,943 | 5,409,559 | 4,983,629 | 4,763,614 | |||||||||||||||
Total consolidated debt |
3,401,561 | 3,257,191 | 2,574,257 | 2,235,361 | 2,143,714 | |||||||||||||||
Our share of
total debt (3) |
2,601,878 | 2,395,046 | 1,954,314 | 1,691,737 | 1,655,386 | |||||||||||||||
Stockholders equity |
1,916,299 | 1,671,140 | 1,657,137 | 1,676,079 | 1,747,389 |
(1) | Certain items in the consolidated financial statements for prior periods have been reclassified to conform with current classifications with no effect on net income or stockholders equity. | |
(2) | Basic and diluted net income per weighted average share equals the net income available to common stockholders divided by 84,048,936 and 87,873,399 shares, respectively, for 2005; 82,133,627 and 85,368,626 shares, respectively, for 2004; 81,096,062 and 82,852,528 shares, respectively, for 2003; 83,310,885 and 84,795,987 shares, respectively, for 2002; 84,174,644 and 85,214,066 shares, respectively, for 2001. | |
(3) | Our share of total debt is the pro rata portion of the total debt based on our percentage of equity interest in each of the consolidated ventures holding the debt. We believe that our share of total debt is a meaningful supplemental measure, which enables both management and investors to analyze our leverage and to compare our leverage to that of other companies. In addition, it allows for a more meaningful comparison of our debt to that of other companies that do not consolidate their joint ventures. Our share of total debt is not intended to reflect our actual liability should there be a default under any or all of such loans or a liquidation of the joint ventures. For a reconciliation of our share of total debt to total consolidated debt, a GAAP financial measure, please see the table of debt maturities and capitalization in Part II, Item 7: Management Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources Capital Resources. | |
(4) | For the year ended December 31, 2005, we reclassified to discontinued operations the results of properties that we intended to sell or had sold as of March 31, 2006. See Note 17 to our consolidated financial statements. |
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