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EPT - Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 384,126 $ 267,350
Adjustments to reconcile net income to net cash provided by operating activities:    
Straight-lined rents 419 170
Depreciation and amortization 285,346 273,065
Amortization of discount and debt financing costs, net 4,190 3,170
Realized and unrealized gains on marketable securities, net (4,948) (8,871)
Provision for credit losses 66 34
Earnings from co-investments (22,018) (23,108)
Operating distributions from co-investments 21,493 31,168
Accrued interest from notes and other receivables (7,810) (4,743)
Casualty loss 0 433
Gain on the sale of real estate and land 0 (59,238)
Equity-based compensation 3,501 3,795
Gain on remeasurement of co-investment (138,326) 0
Changes in operating assets and liabilities:    
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 4,462 457
Accounts payable, accrued liabilities, and operating lease liabilities 5,365 3,646
Other liabilities (2,084) 999
Net cash provided by operating activities 533,782 488,327
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (489,486) (23,182)
Redevelopment (24,143) (41,675)
Development acquisitions of and additions to real estate under development (2,479) (5,248)
Capital expenditures on rental properties (60,982) (56,025)
Investments in notes receivable (56,553) (44,984)
Proceeds from insurance for property losses 1,173 2,851
Proceeds from dispositions of real estate 0 99,388
Contributions to co-investments (3,804) (15,571)
Changes in refundable deposits (1,000) 10,200
Purchases of marketable securities (335) (11,302)
Sales and maturities of marketable securities 8,787 39,372
Non-operating distributions from co-investments 6,500 11,655
Net cash used in investing activities (622,322) (34,521)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 349,132 300,000
Payments on unsecured debt and mortgage notes (401,533) (300,937)
Proceeds from lines of credit 546,556 728,709
Repayments of lines of credit (417,164) (746,354)
Changes in refundable deposits 0 (6,012)
Retirement of common stock 0 (95,657)
Additions to deferred charges (3,000) (358)
Net costs from issuance of common stock (113) (125)
Net proceeds from stock options exercised 962 0
Distributions to noncontrolling interest (16,544) (15,622)
Redemption of noncontrolling interest (279) (609)
Common stock dividends paid (305,660) (290,408)
Net cash used in financing activities (247,643) (427,373)
Net (decrease) increase in unrestricted and restricted cash and cash equivalents (336,183) 26,433
Unrestricted and restricted cash and cash equivalents at beginning of period 400,334 42,681
Unrestricted and restricted cash and cash equivalents at end of period 64,151 69,114
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of $0.1 million and $0.5 million capitalized in 2024 and 2023, respectively) 108,246 101,784
Operating cash flows from operating leases 3,530 3,528
Supplemental disclosure of noncash investing and financing activities:    
Transfers between real estate under development and rental properties, net 405 365
Transfers from real estate under development to co-investments 660 961
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest $ 1,684 $ 4,205