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Condensed Consolidated Statements Of Cash Flows
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Cash flows from operating activities      
Net income $ 498,886 $ 582,487 $ 63,912
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization   270,872 192,727
Gain on sale of operating property   (36,372) 0
Gain on acquisition of unconsolidated joint venture interests (474,146) (474,146)  
Distributions of income from joint ventures   3,015 4,046
Equity in income of joint ventures 0 [1],[2] (3,048) [1] (4,112) [1]
Share-based compensation   6,442 8,428
Net change in operating accounts and other   (18,616) (21,332)
Net cash from operating activities   330,634 243,669
Cash flows from investing activities      
Development and capital improvements, including land   (250,988) (188,170)
Acquisition of operating properties, including joint venture interests, net of cash acquired   (1,066,051) (289,447)
Proceeds from sale of operating property   70,536 0
Other   (8,001) (5,290)
Net cash from investing activities   (1,254,504) (482,907)
Cash flows from financing activities      
Borrowings on unsecured credit facility   560,000 0
Repayments on unsecured credit facility and other short-term borrowings   (510,000) 0
Proceeds from issuance of common shares 490,593 516,758 358,843
Distributions to common shareholders and non-controlling interests   (189,638) (168,429)
Other   6,428 3,609
Net cash from financing activities   383,548 194,023
Net decrease in cash, cash equivalents, and restricted cash   (540,322) (45,215)
Cash, cash equivalents, and restricted cash, beginning of period   618,980 424,533
Cash, cash equivalents, and restricted cash, end of period 78,658 78,658 379,318
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 72,095 72,095 374,556
Restricted cash 6,563 6,563 4,762
Total cash, cash equivalents, and restricted cash $ 78,658 78,658 379,318
Supplemental information      
Cash paid for interest, net of interest capitalized   51,941 47,733
Cash paid for income taxes   2,818 1,746
Supplemental schedule of noncash investing and financing activities      
Distributions declared but not paid   103,621 86,689
Value of shares issued under benefit plans, net of cancellations   21,739 18,498
Accrual associated with construction and capital expenditures   23,262 23,916
Mortgage debt assumed   514,554 0
Other liabilities   39,168 0
Conversion of Stock, Name [Domain]      
Supplemental schedule of noncash investing and financing activities      
Conversion of operating partnership units to common shares   0 3,317
Conversion of operating partnership units to common shares   $ 0 $ 3,317
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.
[2] We consolidated the operations of the Funds as of April 1, 2022 and therefore results are $0 for the three months ended June 30, 2022.