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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 654,776 $ 550,702 $ 264,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 544,004 534,415 511,678
Gain on sale of depreciable real estate assets (214,762) (220,428) (9)
Gain on sale of non-depreciable real estate assets (809) (811) (1,024)
Loss (gain) on embedded derivative in preferred shares 21,107 4,560 (2,562)
Stock compensation expense 18,798 16,665 14,329
Amortization of debt issuance costs, discounts and premiums 6,064 5,652 4,960
Loss (gain) on investments 45,357 (51,713) (5,608)
Net change in operating accounts and other operating activities (16,056) 55,925 38,170
Net cash provided by operating activities 1,058,479 894,967 823,949
Cash flows from investing activities:      
Purchases of real estate and other assets (271,428) (46,028) (56,965)
Capital improvements and other (296,176) (279,635) (225,506)
Development costs (172,124) (231,642) (201,435)
Distributions from real estate joint venture 538 497 349
Contributions to affiliates (13,849) (4,669) (5,349)
Proceeds from real estate asset dispositions 320,491 293,071 2,618
Proceeds from insurance recoveries 27,312 14,820 1,557
Net cash used in investing activities (405,236) (253,586) (484,731)
Cash flows from financing activities:      
Proceeds from revolving credit facility 255,000
Repayments of revolving credit facility (255,000)
Net proceeds from (payments of) commercial paper 20,000 (172,000) 102,000
Proceeds from notes payable 594,423 447,593
Principal payments on notes payable (126,401) (467,153) (441,108)
Payment of deferred financing costs (5,516) (5,940) (4,217)
Distributions to noncontrolling interests (14,927) (15,497) (16,243)
Distributions paid on common shares/units (539,605) (470,401) (457,355)
Distributions paid on preferred shares/units (3,688) (3,688) (3,688)
Acquisition of noncontrolling interests (43,070) 0 0
Net change in other financing activities (9,563) (6,142) (1,126)
Net cash used in financing activities (722,770) (546,398) (374,144)
Net (decrease) increase in cash, cash equivalents and restricted cash (69,527) 94,983 (34,926)
Cash, cash equivalents and restricted cash, beginning of period 130,598 35,615 70,541
Cash, cash equivalents and restricted cash, end of period 61,071 130,598 35,615
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 38,659 54,302 25,198
Restricted cash 22,412 76,296 10,417
Total cash, cash equivalents and restricted cash 61,071 130,598 35,615
Supplemental disclosure of cash flow information:      
Interest paid 157,497 158,630 165,098
Income taxes paid 3,490 2,543 2,549
Supplemental disclosure of noncash investing and financing activities:      
Conversion of OP Units to shares of common stock 2,118 43,292 502
Accrued construction in progress 16,484 15,123 19,625
Interest capitalized 8,728 9,720 6,912
Limited Partner [Member]      
Cash flows from operating activities:      
Net income 654,776 550,702 264,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 544,004 534,415 511,678
Gain on sale of depreciable real estate assets (214,762) (220,428) (9)
Gain on sale of non-depreciable real estate assets (809) (811) (1,024)
Loss (gain) on embedded derivative in preferred shares 21,107 4,560 (2,562)
Stock compensation expense 18,798 16,665 14,329
Amortization of debt issuance costs, discounts and premiums 6,064 5,652 4,960
Loss (gain) on investments 45,357 (51,713) (5,608)
Net change in operating accounts and other operating activities (16,056) 55,925 38,170
Net cash provided by operating activities 1,058,479 894,967 823,949
Cash flows from investing activities:      
Purchases of real estate and other assets (271,428) (46,028) (56,965)
Capital improvements and other (296,176) (279,635) (225,506)
Development costs (172,124) (231,642) (201,435)
Distributions from real estate joint venture 538 497 349
Contributions to affiliates (13,849) (4,669) (5,349)
Proceeds from real estate asset dispositions 320,491 293,071 2,618
Proceeds from insurance recoveries 27,312 14,820 1,557
Net cash used in investing activities (405,236) (253,586) (484,731)
Cash flows from financing activities:      
Proceeds from revolving credit facility 0   255,000
Repayments of revolving credit facility 0   (255,000)
Net proceeds from (payments of) commercial paper 20,000 (172,000) 102,000
Proceeds from notes payable 0 594,423 447,593
Principal payments on notes payable (126,401) (467,153) (441,108)
Payment of deferred financing costs (5,516) (5,940) (4,217)
Distributions paid on common shares/units (554,532) (485,898) (473,598)
Distributions paid on preferred shares/units (3,688) (3,688) (3,688)
Acquisition of noncontrolling interests (43,070) 0 0
Net change in other financing activities (9,563) (6,142) (1,126)
Net cash used in financing activities (722,770) (546,398) (374,144)
Net (decrease) increase in cash, cash equivalents and restricted cash (69,527) 94,983 (34,926)
Cash, cash equivalents and restricted cash, beginning of period 130,598 35,615 70,541
Cash, cash equivalents and restricted cash, end of period 61,071 130,598 35,615
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 38,659 54,302 25,198
Restricted cash 22,412 76,296 10,417
Total cash, cash equivalents and restricted cash 61,071 130,598 35,615
Supplemental disclosure of cash flow information:      
Interest paid 157,497 158,630 165,098
Income taxes paid 3,490 2,543 2,549
Supplemental disclosure of noncash investing and financing activities:      
Accrued construction in progress 16,484 15,123 19,625
Interest capitalized $ 8,728 $ 9,720 $ 6,912