v3.26.1
Reportable Segement (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The following table details NOI and significant expenses for the three and six months ended June 30:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Property revenues$392,944 $396,509 $781,717 $787,074 
Property expenses:
Real estate taxes(49,641)(50,641)(99,531)(100,363)
Salaries and benefits for on-site employees(27,923)(27,415)(54,268)(53,199)
Utilities(28,000)(27,761)(55,626)(55,539)
Repairs and maintenance(19,320)(19,432)(36,070)(36,145)
Other property and maintenance expenses (a)
(16,060)(18,423)(35,518)(37,846)
Net operating income$252,000 $252,837 $500,704 $503,982 
Non-property income15,855 11,051 17,092 14,746 
Other segment expenses (b)
(47,317)(39,873)(132,687)(70,345)
Interest expense(41,422)(35,375)(78,781)(69,165)
Depreciation and amortization(157,134)(152,108)(307,134)(301,360)
Gain on sale of operating property, including land— 47,293 68,100 47,293 
Income tax expense(1,276)(1,231)(2,214)(1,790)
Net income$20,706 $82,594 $65,080 $123,361 
(a) Other non-significant property segment expenses include the following other property and maintenance expenses: property insurance, marketing and leasing, property general and administrative, and other property expenses.
(b) Other expenses include property management, fee and asset management, general and administrative, expense on deferred compensation plans, and other non-operating expenses.