2016 Q3 Form 10-Q Financial Statement

#000151133716000419 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $296.3M $289.4M
YoY Change 2.36% -2.77%
Cost Of Revenue $170.6M $166.5M
YoY Change 2.46% -2.8%
Gross Profit $125.7M $123.0M
YoY Change 2.2% -2.69%
Gross Profit Margin 42.43% 42.5%
Selling, General & Admin $27.80M $27.70M
YoY Change 0.36% -4.15%
% of Gross Profit 22.12% 22.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.90M $39.80M
YoY Change 2.76% 6.99%
% of Gross Profit 32.54% 32.36%
Operating Expenses $239.4M $236.0M
YoY Change 1.43% -4.47%
Operating Profit $56.84M $53.38M
YoY Change 6.48% 5.52%
Interest Expense $14.55M $14.04M
YoY Change 3.63% 1.33%
% of Operating Profit 25.6% 26.3%
Other Income/Expense, Net $112.0K $557.0K
YoY Change -79.89%
Pretax Income $163.6M $40.27M
YoY Change 306.18% 8.5%
Income Tax $1.439M $151.0K
% Of Pretax Income 0.88% 0.37%
Net Earnings $41.17M $40.93M
YoY Change 0.59% 10.44%
Net Earnings / Revenue 13.9% 14.14%
Basic Earnings Per Share $0.33 $0.32
Diluted Earnings Per Share $0.33 $0.31
COMMON SHARES
Basic Shares Outstanding 123.6M shares 127.7M shares
Diluted Shares Outstanding 123.8M shares 128.1M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $178.6M $140.5M
YoY Change 27.12% -48.8%
Cash & Equivalents $178.6M $140.5M
Short-Term Investments
Other Short-Term Assets $37.60M $35.10M
YoY Change 7.12% -20.05%
Inventory
Prepaid Expenses
Receivables $37.90M $39.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $254.1M $215.1M
YoY Change 18.13% -39.56%
LONG-TERM ASSETS
Property, Plant & Equipment $3.597B $3.675B
YoY Change -2.11% -0.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $111.1M $74.00M
YoY Change 50.14% 2.35%
Total Long-Term Assets $3.711B $3.751B
YoY Change -1.08% -0.71%
TOTAL ASSETS
Total Short-Term Assets $254.1M $215.1M
Total Long-Term Assets $3.711B $3.751B
Total Assets $3.965B $3.966B
YoY Change -0.04% -4.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.9M $142.7M
YoY Change 0.84% 13.43%
Accrued Expenses $3.200M $4.600M
YoY Change -30.43% 70.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $188.5M $189.1M
YoY Change -0.32% 11.04%
LONG-TERM LIABILITIES
Long-Term Debt $1.583B $1.582B
YoY Change 0.04% 1.55%
Other Long-Term Liabilities $12.30M $12.20M
YoY Change 0.82% -6.87%
Total Long-Term Liabilities $1.595B $1.595B
YoY Change 0.04% 1.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $188.5M $189.1M
Total Long-Term Liabilities $1.595B $1.595B
Total Liabilities $1.794B $1.791B
YoY Change 0.15% 2.63%
SHAREHOLDERS EQUITY
Retained Earnings $3.940M
YoY Change
Common Stock $2.187B $2.221B
YoY Change -1.51% -8.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.158B $2.158B
YoY Change
Total Liabilities & Shareholders Equity $3.965B $3.966B
YoY Change -0.04% -4.05%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $41.17M $40.93M
YoY Change 0.59% 10.44%
Depreciation, Depletion And Amortization $40.90M $39.80M
YoY Change 2.76% 6.99%
Cash From Operating Activities $86.20M $87.00M
YoY Change -0.92% -5.54%
INVESTING ACTIVITIES
Capital Expenditures -$17.60M -$36.30M
YoY Change -51.52% 12.04%
Acquisitions
YoY Change
Other Investing Activities -$4.100M -$127.7M
YoY Change -96.79% 1.03%
Cash From Investing Activities -$21.70M -$163.9M
YoY Change -86.76% 3.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.00M -46.50M
YoY Change -1.08% 43.08%
NET CHANGE
Cash From Operating Activities 86.20M 87.00M
Cash From Investing Activities -21.70M -163.9M
Cash From Financing Activities -46.00M -46.50M
Net Change In Cash 18.50M -123.4M
YoY Change -114.99% 24.4%
FREE CASH FLOW
Cash From Operating Activities $86.20M $87.00M
Capital Expenditures -$17.60M -$36.30M
Free Cash Flow $103.8M $123.3M
YoY Change -15.82% -0.96%

Facts In Submission

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us-gaap Conversion Of Stock Amount Issued1
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0 USD
us-gaap Conversion Of Stock Amount Issued1
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4325000 USD
CY2015Q4 us-gaap Debt Instrument Carrying Amount
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1175000000 USD
CY2016Q3 us-gaap Debt Instrument Carrying Amount
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1175000000 USD
us-gaap Deferred Income Tax Expense Benefit
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-652000 USD
us-gaap Deferred Income Tax Expense Benefit
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4217000 USD
CY2015Q4 us-gaap Deferred Income Tax Liabilities
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9801000 USD
CY2016Q3 us-gaap Deferred Income Tax Liabilities
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9801000 USD
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11647000 USD
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12313000 USD
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49978000 USD
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45761000 USD
CY2015Q3 us-gaap Depreciation And Amortization
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39847000 USD
us-gaap Depreciation And Amortization
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114828000 USD
CY2016Q3 us-gaap Depreciation And Amortization
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40953000 USD
us-gaap Depreciation And Amortization
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122532000 USD
us-gaap Depreciation Depletion And Amortization
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114828000 USD
us-gaap Depreciation Depletion And Amortization
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122532000 USD
CY2015Q4 us-gaap Derivative Liability Notional Amount
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1792251000 USD
CY2016Q3 us-gaap Derivative Liability Notional Amount
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1890000000 USD
CY2015Q3 us-gaap Direct Costs Of Hotels
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166465000 USD
us-gaap Direct Costs Of Hotels
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496542000 USD
CY2016Q3 us-gaap Direct Costs Of Hotels
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170575000 USD
us-gaap Direct Costs Of Hotels
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508262000 USD
us-gaap Dividends Common Stock
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129122000 USD
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123969000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
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41409000 USD
CY2016Q3 us-gaap Dividends Payable Current And Noncurrent
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41381000 USD
CY2015Q3 us-gaap Earnings Per Share Basic
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0.32
us-gaap Earnings Per Share Basic
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1.10
CY2016Q3 us-gaap Earnings Per Share Basic
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0.33
us-gaap Earnings Per Share Basic
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1.00
CY2015Q3 us-gaap Earnings Per Share Diluted
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0.31
us-gaap Earnings Per Share Diluted
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1.10
CY2016Q3 us-gaap Earnings Per Share Diluted
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0.33
us-gaap Earnings Per Share Diluted
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1.00
CY2015Q4 us-gaap Fixtures And Equipment Gross
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571118000 USD
CY2016Q3 us-gaap Fixtures And Equipment Gross
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594981000 USD
CY2015Q3 us-gaap Food And Beverage Cost Of Sales
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19494000 USD
us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
60750000 USD
CY2016Q3 us-gaap Food And Beverage Cost Of Sales
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19135000 USD
us-gaap Food And Beverage Cost Of Sales
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59477000 USD
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27027000 USD
us-gaap Food And Beverage Revenue
FoodAndBeverageRevenue
85607000 USD
CY2016Q3 us-gaap Food And Beverage Revenue
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26001000 USD
us-gaap Food And Beverage Revenue
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82602000 USD
CY2015Q3 us-gaap Franchise Costs
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18600000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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42833000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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131030000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-1773000 USD
us-gaap Franchise Costs
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54900000 USD
CY2016Q3 us-gaap Franchise Costs
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19000000 USD
us-gaap Franchise Costs
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56600000 USD
CY2015Q3 us-gaap Gain Loss On Disposition Of Assets
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812000 USD
us-gaap Gain Loss On Disposition Of Assets
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23782000 USD
CY2016Q3 us-gaap Gain Loss On Disposition Of Assets
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-5000 USD
us-gaap Gain Loss On Disposition Of Assets
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-155000 USD
CY2015Q3 us-gaap General And Administrative Expense
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8249000 USD
us-gaap General And Administrative Expense
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29041000 USD
CY2016Q3 us-gaap General And Administrative Expense
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7215000 USD
us-gaap General And Administrative Expense
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23522000 USD
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0 USD
us-gaap Impairment Of Real Estate
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0 USD
CY2016Q3 us-gaap Impairment Of Real Estate
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0 USD
us-gaap Impairment Of Real Estate
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0 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
39788000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
120819000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
41179000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
125072000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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40272000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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122278000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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40121000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
121663000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
41394000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
125633000 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
151000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
615000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1439000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5397000 USD
us-gaap Income Taxes Paid Net
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1391000 USD
us-gaap Income Taxes Paid Net
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1560000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-9065000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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7856000 USD
us-gaap Increase Decrease In Accounts Receivable
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13644000 USD
us-gaap Increase Decrease In Accounts Receivable
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12119000 USD
us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
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2204000 USD
us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
666000 USD
us-gaap Increase Decrease In Interest Payable Net
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1806000 USD
us-gaap Increase Decrease In Interest Payable Net
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-1677000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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3932000 USD
us-gaap Increase Decrease In Restricted Cash
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-7115000 USD
us-gaap Increase Decrease In Restricted Cash
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9913000 USD
CY2015Q3 us-gaap Interest Costs Capitalized
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542000 USD
us-gaap Interest Costs Capitalized
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1774000 USD
us-gaap Payments To Minority Shareholders
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259000 USD
CY2016Q3 us-gaap Interest Costs Capitalized
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0 USD
us-gaap Interest Costs Capitalized
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0 USD
CY2015Q3 us-gaap Interest Expense
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14042000 USD
us-gaap Interest Expense
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39885000 USD
CY2016Q3 us-gaap Interest Expense
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14552000 USD
us-gaap Interest Expense
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44233000 USD
us-gaap Interest Paid
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34968000 USD
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42807000 USD
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4883000 USD
CY2016Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3206000 USD
CY2015Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
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16602000 USD
CY2016Q3 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
32746000 USD
CY2016Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-13200000 USD
CY2015Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
3205704000 USD
CY2016Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
3226780000 USD
CY2015Q3 us-gaap Investment Income Interest
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373000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
1181000 USD
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
430000 USD
us-gaap Investment Income Interest
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1240000 USD
CY2015Q4 us-gaap Land And Land Improvements
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736709000 USD
CY2016Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
736600000 USD
CY2015Q4 us-gaap Liabilities
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1772418000 USD
CY2016Q3 us-gaap Liabilities
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1793641000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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3972942000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
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3965032000 USD
CY2015Q4 us-gaap Long Term Debt
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1169437000 USD
CY2016Q3 us-gaap Long Term Debt
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1168893000 USD
CY2015Q4 us-gaap Minority Interest
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17709000 USD
CY2016Q3 us-gaap Minority Interest
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13133000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
195000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
259000 USD
CY2015Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
6177000 USD
CY2016Q3 us-gaap Minority Interest In Joint Ventures
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5925000 USD
CY2015Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
11532000 USD
CY2016Q3 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
7208000 USD
us-gaap Mortgage Loans On Real Estate Number Of Loans
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1 loan
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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-139593000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-4887000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-66376000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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232931000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
250404000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
40594000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
144435000 USD
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
41174000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
124918000 USD
us-gaap Noncash Or Part Noncash Acquisition Accounts Receivable Acquired1
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179000 USD
us-gaap Noncash Or Part Noncash Acquisition Accounts Receivable Acquired1
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0 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
33389000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
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143769000 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
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0 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
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120000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
543000 USD
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
0 USD
CY2015Q3 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
49000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
26000 USD
CY2016Q3 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
32000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
7000 USD
CY2015Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
290000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
984000 USD
CY2016Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
183000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
553000 USD
CY2016Q3 us-gaap Number Of Real Estate Properties
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125 property
CY2016Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
21 state
CY2016Q3 us-gaap Number Of Units In Real Estate Property
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20800 room
CY2015Q3 us-gaap Occupancy Costs
OccupancyCosts
56310000 USD
us-gaap Occupancy Costs
OccupancyCosts
165603000 USD
CY2016Q3 us-gaap Occupancy Costs
OccupancyCosts
59671000 USD
us-gaap Occupancy Costs
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173783000 USD
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253163000 USD
us-gaap Occupancy Revenue
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747962000 USD
CY2016Q3 us-gaap Occupancy Revenue
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260659000 USD
us-gaap Occupancy Revenue
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777211000 USD
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236036000 USD
us-gaap Operating Expenses
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701198000 USD
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
239416000 USD
us-gaap Operating Expenses
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714605000 USD
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OperatingIncomeLoss
53384000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
159879000 USD
CY2016Q3 us-gaap Operating Income Loss
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56843000 USD
us-gaap Operating Income Loss
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173937000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
595000 USD
us-gaap Other Amortization Of Deferred Charges
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563000 USD
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-15166000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-18650000 USD
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
9470000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-16144000 USD
CY2015Q3 us-gaap Other Direct Costs Of Hotels
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61676000 USD
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
181485000 USD
CY2016Q3 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
62162000 USD
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
184133000 USD
CY2015Q3 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
9230000 USD
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
27508000 USD
CY2016Q3 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
9599000 USD
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
28729000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
195000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
32563000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
557000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1103000 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
112000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
86000 USD
CY2015Q3 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
10400000 USD
us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
33800000 USD
CY2016Q3 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
10600000 USD
us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
34200000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
100252000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
58881000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11029000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4960000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
199944000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
13271000 USD
us-gaap Payments Of Dividends Common Stock
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128602000 USD
us-gaap Payments Of Dividends Common Stock
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123345000 USD
us-gaap Payments Of Financing Costs
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666000 USD
us-gaap Payments Of Financing Costs
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5344000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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919000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
211000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
143769000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
0 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets
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37584000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
7000000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
11000000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
150000000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
51000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
232938000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2629000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
40933000 USD
us-gaap Profit Loss
ProfitLoss
145445000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
41389000 USD
us-gaap Profit Loss
ProfitLoss
125478000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
841039000 USD
CY2016Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
961050000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4516038000 USD
CY2016Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4560868000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3674999000 USD
CY2016Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3599818000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
51000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
165747000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2760000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
55455000 USD
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
65368000 USD
us-gaap Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
0 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2439000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3940000 USD
CY2015Q3 us-gaap Revenues
Revenues
289420000 USD
us-gaap Revenues
Revenues
861077000 USD
CY2016Q3 us-gaap Revenues
Revenues
296259000 USD
us-gaap Revenues
Revenues
888542000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
406049000 USD
CY2016Q3 us-gaap Secured Debt
SecuredDebt
414104000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10488000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3935000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2554 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
22.26
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
7500000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3964629 shares
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
99000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
57000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2015Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
400000000.0 USD
CY2016Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
161542669 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
199900000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
199944000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13271000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13300000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
2182815000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
2158258000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2378484000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2175576000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2200524000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2171391000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
8000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2015Q4 us-gaap Unsecured Debt
UnsecuredDebt
1169437000 USD
CY2016Q3 us-gaap Unsecured Debt
UnsecuredDebt
1168893000 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
128143154 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130410613 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123836452 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123859753 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127663480 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129855686 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123621323 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123635010 shares
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income, shareholders&#8217; equity or cash flows.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company&#8217;s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

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