Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2025

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

NOTE 11. SUPPLEMENTAL CASH FLOW INFORMATION

Our significant noncash investing and financing activities for the three months ended March 31, 2025 and 2024 included the following:

•We recognized lease right-of-use assets and lease liabilities related to leases in which we are the lessee within Other Assets and Other Liabilities on the Consolidated Balance Sheets, including any new leases, renewals and modifications of $34.1 million in 2025 and $7.1 million in 2024 for both assets and liabilities.

•We capitalized $11.6 million and $15.5 million in 2025 and 2024, respectively, of equity-based compensation expense.

•We received $19.7 million in 2025 and $85.1 million in 2024 of ownership interests in certain unconsolidated co-investment ventures, primarily as a portion of our proceeds from the contribution of properties to these entities.

•We issued 1.3 million and 1.1 million shares in 2025 and 2024, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP.

•We reinvested a distribution from an unconsolidated co-investment venture of $51.1 million in 2024.

•We recognized a $150.1 million liability for installment payments related to an acquisition of land in 2024. This liability was paid in full at March 31, 2025.

We paid $269.4 million and $210.7 million for interest, net of amounts capitalized, during the three months ended March 31, 2025 and 2024, respectively.

We paid $44.0 million and $58.1 million for income taxes, net of refunds, during the three months ended March 31, 2025 and 2024, respectively.