XML 21 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 455,840 $ 359,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 405,412 398,678
Gain on sale of depreciable real estate assets (131,963) (134,515)
Gain on sale of non-depreciable real estate assets (809) (202)
Loss (gain) on embedded derivative in preferred shares 10,364 (11,492)
Stock compensation expense 14,615 12,804
Amortization of debt issuance costs, discounts and premiums 4,547 4,142
Loss (gain) on investments 39,290 (18,001)
Net change in operating accounts and other operating activities 10,019 67,050
Net cash provided by operating activities 807,315 678,250
Cash flows from investing activities:    
Purchases of real estate and other assets (252,628) (46,028)
Capital improvements and other (219,221) (208,563)
Development costs (124,262) (179,810)
Distributions from real estate joint venture 386 483
Contributions to affiliates (11,100) (1,971)
Proceeds from real estate asset dispositions 165,827 158,812
Proceeds from insurance recoveries 26,385 7,422
Net cash used in investing activities (414,613) (269,655)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 125,000 (147,000)
Proceeds from notes payable 0 594,423
Principal payments on notes payable (126,043) (466,817)
Payment of deferred financing costs (5,473) (5,922)
Distributions to noncontrolling interests (10,968) (12,009)
Dividends paid on common shares (395,258) (352,384)
Dividends paid on preferred shares (2,766) (2,766)
Acquisition of noncontrolling interests (43,070) 0
Net change in other financing activities (11,168) (10,214)
Net cash used in financing activities (469,746) (402,689)
Net (decrease) increase in cash, cash equivalents and restricted cash (77,044) 5,906
Cash, cash equivalents and restricted cash, beginning of period 130,598 35,615
Cash, cash equivalents and restricted cash, end of period 53,554 41,521
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 38,996 29,811
Restricted cash 14,558 11,710
Total cash, cash equivalents and restricted cash 53,554 41,521
Supplemental disclosure of cash flow information:    
Interest paid 109,936 109,471
Income taxes paid 3,463 2,518
Supplemental disclosure of noncash investing and financing activities:    
Conversion of OP Units to shares of common stock 500 33,272
Accrued construction in progress 30,175 18,484
Interest capitalized 6,146 7,781
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 455,840 359,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 405,412 398,678
Gain on sale of depreciable real estate assets (131,963) (134,515)
Gain on sale of non-depreciable real estate assets (809) (202)
Loss (gain) on embedded derivative in preferred shares 10,364 (11,492)
Stock compensation expense 14,615 12,804
Amortization of debt issuance costs, discounts and premiums 4,547 4,142
Loss (gain) on investments 39,290 (18,001)
Net change in operating accounts and other operating activities 10,019 67,050
Net cash provided by operating activities 807,315 678,250
Cash flows from investing activities:    
Purchases of real estate and other assets (252,628) (46,028)
Capital improvements and other (219,221) (208,563)
Development costs (124,262) (179,810)
Distributions from real estate joint venture 386 483
Contributions to affiliates (11,100) (1,971)
Proceeds from real estate asset dispositions 165,827 158,812
Proceeds from insurance recoveries 26,385 7,422
Net cash used in investing activities (414,613) (269,655)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 125,000 (147,000)
Proceeds from notes payable 0 594,423
Principal payments on notes payable (126,043) (466,817)
Payment of deferred financing costs (5,473) (5,922)
Dividends paid on common shares (406,226) (364,393)
Dividends paid on preferred shares (2,766) (2,766)
Acquisition of noncontrolling interests (43,070) 0
Net change in other financing activities (11,168) (10,214)
Net cash used in financing activities (469,746) (402,689)
Net (decrease) increase in cash, cash equivalents and restricted cash (77,044) 5,906
Cash, cash equivalents and restricted cash, beginning of period 130,598 35,615
Cash, cash equivalents and restricted cash, end of period 53,554 41,521
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 38,996 29,811
Restricted cash 14,558 11,710
Total cash, cash equivalents and restricted cash 53,554 41,521
Supplemental disclosure of cash flow information:    
Interest paid 109,936 109,471
Income taxes paid 3,463 2,518
Supplemental disclosure of noncash investing and financing activities:    
Accrued construction in progress 30,175 18,484
Interest capitalized $ 6,146 $ 7,781