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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 139,574 $ 113,577
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 138,758 133,986
(Gain) loss on sale of depreciable real estate assets (15) 1
Gain on sale of non-depreciable real estate assets (54) (23)
Gain on embedded derivative in preferred shares (4,435) (11,896)
Stock compensation expense 5,578 6,640
Amortization of debt issuance costs, discounts and premiums 1,517 1,510
Loss on investments 1,024 10,233
Net change in operating accounts and other operating activities (63,637) (74,405)
Net cash provided by operating activities 218,310 179,623
Cash flows from investing activities:    
Purchases of real estate and other assets (12,450) (5,232)
Capital improvements and other (75,622) (38,212)
Development costs (52,851) (42,780)
Distributions from real estate joint venture 0 95
Contributions to affiliates (1,250) (7,500)
Proceeds from real estate asset dispositions 3,024 24
Net proceeds from insurance recoveries 764 10,073
Net cash used in investing activities (138,385) (83,532)
Cash flows from financing activities:    
Net (payments of) proceeds from commercial paper (20,000) 20,000
Principal payments on notes payable (362) (343)
Distributions to noncontrolling interests (4,429) (3,484)
Distributions paid on common shares (161,683) (125,432)
Distributions paid on preferred shares (922) (922)
Proceeds from issuances of common units 204,077 164
Acquisition of noncontrolling interests 0 (43,070)
Net change in other financing activities (1,660) (978)
Net cash provided by (used in) financing activities 15,021 (154,065)
Net increase (decrease) in cash, cash equivalents and restricted cash 94,946 (57,974)
Cash, cash equivalents and restricted cash, beginning of period 61,071 130,598
Cash, cash equivalents and restricted cash, end of period 156,017 72,624
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 142,411 60,371
Restricted cash 13,606 12,253
Total cash, cash equivalents and restricted cash 156,017 72,624
Supplemental disclosure of cash flow information:    
Interest paid 29,516 30,427
Income taxes paid 25 0
Supplemental disclosure of noncash investing and financing activities:    
Conversion of OP Units to shares of common stock 479 193
Accrued construction in progress 31,492 38,191
Interest capitalized 2,746 1,836
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 139,574 113,577
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 138,758 133,986
(Gain) loss on sale of depreciable real estate assets (15) 1
Gain on sale of non-depreciable real estate assets (54) (23)
Gain on embedded derivative in preferred shares (4,435) (11,896)
Stock compensation expense 5,578 6,640
Amortization of debt issuance costs, discounts and premiums 1,517 1,510
Loss on investments 1,024 (10,233)
Net change in operating accounts and other operating activities (63,637) (74,405)
Net cash provided by operating activities 218,310 179,623
Cash flows from investing activities:    
Purchases of real estate and other assets (12,450) (5,232)
Capital improvements and other (75,622) (38,212)
Development costs (52,851) (42,780)
Distributions from real estate joint venture 0 95
Contributions to affiliates (1,250) (7,500)
Proceeds from real estate asset dispositions 3,024 24
Net proceeds from insurance recoveries 764 10,073
Net cash used in investing activities (138,385) (83,532)
Cash flows from financing activities:    
Net (payments of) proceeds from commercial paper (20,000) 20,000
Principal payments on notes payable (362) (343)
Distributions paid on common shares (166,112) (128,916)
Distributions paid on preferred shares (922) (922)
Proceeds from issuances of common units 204,077 164
Acquisition of noncontrolling interests 0 (43,070)
Net change in other financing activities (1,660) (978)
Net cash provided by (used in) financing activities 15,021 (154,065)
Net increase (decrease) in cash, cash equivalents and restricted cash 94,946 (57,974)
Cash, cash equivalents and restricted cash, beginning of period 61,071 130,598
Cash, cash equivalents and restricted cash, end of period 156,017 72,624
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 142,411 60,371
Restricted cash 13,606 12,253
Total cash, cash equivalents and restricted cash 156,017 72,624
Supplemental disclosure of cash flow information:    
Interest paid 29,516 30,427
Supplemental disclosure of noncash investing and financing activities:    
Accrued construction in progress 31,492 38,191
Interest capitalized $ 2,746 $ 1,836