XML 16 R6.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 44,374 $ 40,767
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 150,000 149,252
Gain on sale of operating property, including land (68,100) 0
Investment losses 4,855 0
Share-based compensation 4,053 4,058
Net change in operating accounts and other 12,923 (45,861)
Net cash from operating activities 148,105 148,216
Cash flows from investing activities    
Development and capital improvements (94,023) (78,397)
Acquisition of operating properties 0 (196,355)
Net proceeds from sale of operating property and land 76,694 0
Other (2,703) (1,193)
Net cash from investing activities (20,032) (275,945)
Cash flows from financing activities    
Borrowings on unsecured revolving credit facility 351,000 546,000
Repayments on unsecured revolving credit facility (351,000) (724,000)
Proceeds from (repayments of) commercial paper program, net (231,784) 425,780
Repayment of notes payable (11,950) 0
Proceeds from notes payable 595,716 0
Distributions to common shareholders and non-controlling interests (114,948) (113,537)
Repurchase of common shares (262,829) 0
Payment of deferred financing costs (10,217) (1,092)
Other 991 158
Net cash from financing activities (35,021) 133,309
Net increase in cash, cash equivalents, and restricted cash 93,052 5,580
Cash, cash equivalents, and restricted cash, beginning of period 37,242 32,209
Cash, cash equivalents, and restricted cash, end of period 130,294 37,789
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 40,684 26,182
Restricted cash 89,610 11,607
Total cash, cash equivalents, and restricted cash 130,294 37,789
Supplemental information    
Cash paid for interest, net of interest capitalized 25,709 25,415
Cash paid for income taxes 270 (375)
Supplemental schedule of noncash investing and financing activities    
Distributions declared but not paid 112,156 115,983
Value of shares issued under benefit plans, net of cancellations 23,242 25,997
Accrual associated with construction and capital expenditures 19,049 24,310
Share repurchases included in accounts payable and accrued expenses $ 26,165 $ 0