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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 330,137 $ 272,739
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 268,389 263,912
Gain on sale of depreciable real estate assets (131,964) (134,828)
Gain on sale of non-depreciable real estate assets (378) (32)
Loss on embedded derivative in preferred shares 9,939 1,940
Stock compensation expense 10,740 9,212
Amortization of debt issuance costs, discounts and premiums 3,018 2,674
Loss on investments 31,093 7,901
Net change in operating accounts and other operating activities (57,067) (10,398)
Net cash provided by operating activities 463,907 397,318
Cash flows from investing activities:    
Purchases of real estate and other assets (17,238) (46,028)
Capital improvements and other (132,849) (127,932)
Development costs (84,636) (119,612)
Distributions from real estate joint venture 352 392
Contributions to affiliates (9,300) (1,114)
Proceeds from real estate asset dispositions 165,201 158,136
Proceeds from insurance recoveries 20,675 3,620
Net cash used in investing activities (57,795) (132,538)
Cash flows from financing activities:    
Net proceeds from commercial paper 0 108,000
Principal payments on notes payable (691) (119,481)
Distributions to noncontrolling interests (6,965) (8,302)
Dividends paid on common shares (250,960) (234,591)
Dividends paid on preferred shares (1,844) (1,844)
Acquisition of noncontrolling interests (43,070) 0
Net change in other financing activities (11,478) (1,173)
Net cash used in financing activities (315,008) (257,391)
Net increase in cash, cash equivalents and restricted cash 91,104 7,389
Cash, cash equivalents and restricted cash, beginning of period 130,598 35,615
Cash, cash equivalents and restricted cash, end of period 221,702 43,004
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 60,568 31,881
Restricted cash 161,134 11,123
Total cash, cash equivalents and restricted cash 221,702 43,004
Supplemental disclosure of cash flow information:    
Interest paid 79,201 81,122
Income taxes paid 2,635 2,474
Supplemental disclosure of noncash investing and financing activities:    
Conversion of OP Units to shares of common stock 193 22,164
Accrued construction in progress 31,803 30,771
Interest capitalized 3,893 5,333
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 330,137 272,739
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 268,389 263,912
Gain on sale of depreciable real estate assets (131,964) (134,828)
Gain on sale of non-depreciable real estate assets (378) (32)
Loss on embedded derivative in preferred shares 9,939 1,940
Stock compensation expense 10,740 9,212
Amortization of debt issuance costs, discounts and premiums 3,018 2,674
Loss on investments 31,093 7,901
Net change in operating accounts and other operating activities (57,067) (10,398)
Net cash provided by operating activities 463,907 397,318
Cash flows from investing activities:    
Purchases of real estate and other assets (17,238) (46,028)
Capital improvements and other (132,849) (127,932)
Development costs (84,636) (119,612)
Distributions from real estate joint venture 352 392
Contributions to affiliates (9,300) (1,114)
Proceeds from real estate asset dispositions 165,201 158,136
Proceeds from insurance recoveries 20,675 3,620
Net cash used in investing activities (57,795) (132,538)
Cash flows from financing activities:    
Net proceeds from commercial paper 0 108,000
Principal payments on notes payable (691) (119,481)
Dividends paid on common shares (257,925) (242,893)
Dividends paid on preferred shares (1,844) (1,844)
Acquisition of noncontrolling interests (43,070) 0
Net change in other financing activities (11,478) (1,173)
Net cash used in financing activities (315,008) (257,391)
Net increase in cash, cash equivalents and restricted cash 91,104 7,389
Cash, cash equivalents and restricted cash, beginning of period 130,598 35,615
Cash, cash equivalents and restricted cash, end of period 221,702 43,004
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 60,568 31,881
Restricted cash 161,134 11,123
Total cash, cash equivalents and restricted cash 221,702 43,004
Supplemental disclosure of cash flow information:    
Interest paid 79,201 81,122
Income taxes paid 2,635 2,474
Supplemental disclosure of noncash investing and financing activities:    
Accrued construction in progress 31,803 30,771
Interest capitalized $ 3,893 $ 5,333