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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 394,898 $ 170,840 $ 410,553
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 611,025 582,014 574,813
Loss on early retirement of debt 0 921 2,513
Gain on sale of operating properties (260,910) (43,806) (225,416)
Impairment associated with land development activities 12,916 40,988 0
Share-based compensation 16,959 15,166 14,512
Net change in operating accounts and other 51,733 8,754 17,975
Net cash from operating activities 826,621 774,877 794,950
Cash flows from investing activities      
Development and capital improvements, including land (440,402) (393,735) (410,934)
Acquisition of operating properties (419,226) 0 0
Net proceeds from sales of operating properties 365,906 114,474 290,663
Increase in non-real estate assets (2,445) (3,800) (5,597)
Other (3,372) (2,169) (1,259)
Net cash from investing activities (499,539) (285,230) (127,127)
Cash flows from financing activities      
Borrowings on unsecured revolving credit facility 588,000 586,000 1,335,000
Repayments on unsecured revolving credit facility (766,000) (408,000) (1,377,000)
Proceeds from (Repayments of) Commercial Paper 588,108 0 0
Repayment of notes payable, including prepayment penalties 0 (800,000) (437,749)
Proceeds from notes payable 0 395,952 498,235
Distributions to common shareholders and non-controlling interests (460,950) (450,965) (434,875)
Payment of deferred financing costs (2,386) (2,878) (3,114)
Repurchase of common shares (270,654) (49,997) 0
Other 1,833 4,403 2,289
Net cash from financing activities (322,049) (725,485) (417,214)
Net increase (decrease) in cash, cash equivalents, and restricted cash 5,033 (235,838) 250,609
Cash, cash equivalents, and restricted cash, beginning of year 32,209 268,047 17,438
Cash, cash equivalents, and restricted cash, end of year 37,242 32,209 268,047
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets [Abstract]      
Cash and cash equivalents 25,203 21,045 259,686
Restricted cash 12,039 11,164 8,361
Total cash, cash equivalents, and restricted cash 37,242 32,209 268,047
Supplemental information      
Cash paid for interest, net of interest capitalized 139,625 129,637 128,870
Cash paid for income taxes 3,482 2,816 3,591
Supplemental schedule of noncash investing and financing activities      
Distributions declared but not paid 114,971 113,549 110,427
Value of shares issued under benefit plans, net of cancellations 27,542 25,134 24,850
Accrual associated with construction and capital expenditures 31,487 24,097 23,706
Right-of-use assets obtained in exchange for the use of new operating lease liabilities $ 22,005 $ 0 $ 0