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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 567,831 $ 654,776 $ 550,702
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 565,857 544,004 534,415
Loss (gain) on sale of depreciable real estate assets 62 (214,762) (220,428)
Gain on sale of non-depreciable real estate assets (54) (809) (811)
(Gain) loss on embedded derivative in preferred shares (18,528) 21,107 4,560
Stock compensation expense 15,699 18,798 16,665
Amortization of debt issuance costs, discounts and premiums 5,909 6,064 5,652
(Gain) loss on investments (4,449) 45,357 (51,713)
Net change in operating accounts and other operating activities 4,860 (16,056) 55,925
Net cash provided by operating activities 1,137,187 1,058,479 894,967
Cash flows from investing activities:      
Purchases of real estate and other assets (223,453) (271,428) (46,028)
Capital improvements and other (341,224) (296,176) (279,635)
Development costs (198,152) (172,124) (231,642)
Distributions from real estate joint venture 312 538 497
Contributions to affiliates (16,636) (13,849) (4,669)
Proceeds from real estate asset dispositions 2,946 320,491 293,071
Net proceeds from insurance recoveries 945 27,312 14,820
Net cash used in investing activities (775,262) (405,236) (253,586)
Cash flows from financing activities:      
Net proceeds from (payments of) commercial paper 475,000 20,000 (172,000)
Proceeds from notes payable 0 0 594,423
Principal payments on notes payable (353,861) (126,401) (467,153)
Payment of deferred financing costs (2) (5,516) (5,940)
Distributions to noncontrolling interests (17,671) (14,927) (15,497)
Distributions paid on common shares/units (651,717) (539,605) (470,401)
Distributions paid on preferred shares/units (3,688) (3,688) (3,688)
Proceeds from issuances of common shares 205,070 1,083 645
Acquisition of noncontrolling interests (15,757) (43,070) 0
Net change in other financing activities (5,279) (10,646) (6,787)
Net cash used in financing activities (367,905) (722,770) (546,398)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,980) (69,527) 94,983
Cash, cash equivalents and restricted cash, beginning of period 61,071 130,598 35,615
Cash, cash equivalents and restricted cash, end of period 55,091 61,071 130,598
Reconciliation of cash, cash equivalents and restricted cash at period end:      
Cash and cash equivalents 41,314 38,659 54,302
Restricted cash 13,777 22,412 76,296
Total cash, cash equivalents and restricted cash 55,091 61,071 130,598
Supplemental disclosure of cash flow information:      
Interest paid 157,566 157,497 158,630
Income taxes paid 4,002 3,490 2,543
Supplemental disclosure of noncash investing and financing activities:      
Distributions on common shares/ units declared and accrued 176,162 166,103 128,916
Accrued construction in progress 23,345 16,484 15,123
Interest capitalized 12,376 8,728 9,720
Conversion of OP Units to shares of common stock 1,092 2,118 43,292
Limited Partner [Member]      
Cash flows from operating activities:      
Net income 567,831 654,776 550,702
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 565,857 544,004 534,415
Loss (gain) on sale of depreciable real estate assets 62 (214,762) (220,428)
Gain on sale of non-depreciable real estate assets (54) (809) (811)
(Gain) loss on embedded derivative in preferred shares (18,528) 21,107 4,560
Stock compensation expense 15,699 18,798 16,665
Amortization of debt issuance costs, discounts and premiums 5,909 6,064 5,652
(Gain) loss on investments (4,449) 45,357 (51,713)
Net change in operating accounts and other operating activities 4,860 (16,056) 55,925
Net cash provided by operating activities 1,137,187 1,058,479 894,967
Cash flows from investing activities:      
Purchases of real estate and other assets (223,453) (271,428) (46,028)
Capital improvements and other (341,224) (296,176) (279,635)
Development costs (198,152) (172,124) (231,642)
Distributions from real estate joint venture 312 538 497
Contributions to affiliates (16,636) (13,849) (4,669)
Proceeds from real estate asset dispositions 2,946 320,491 293,071
Net proceeds from insurance recoveries 945 27,312 14,820
Net cash used in investing activities (775,262) (405,236) (253,586)
Cash flows from financing activities:      
Net proceeds from (payments of) commercial paper 475,000 20,000 (172,000)
Proceeds from notes payable 0 0 594,423
Principal payments on notes payable (353,861) (126,401) (467,153)
Payment of deferred financing costs (2) (5,516) (5,940)
Distributions paid on common shares/units (669,388) (554,532) (485,898)
Distributions paid on preferred shares/units (3,688) (3,688) (3,688)
Proceeds from issuances of common shares 205,070 1,083 645
Acquisition of noncontrolling interests (15,757) (43,070) 0
Net change in other financing activities (5,279) (10,646) (6,787)
Net cash used in financing activities (367,905) (722,770) (546,398)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,980) (69,527) 94,983
Cash, cash equivalents and restricted cash, beginning of period 61,071 130,598 35,615
Cash, cash equivalents and restricted cash, end of period 55,091 61,071 130,598
Reconciliation of cash, cash equivalents and restricted cash at period end:      
Cash and cash equivalents 41,314 38,659 54,302
Restricted cash 13,777 22,412 76,296
Total cash, cash equivalents and restricted cash 55,091 61,071 130,598
Supplemental disclosure of cash flow information:      
Interest paid 157,566 157,497 158,630
Income taxes paid 4,002 3,490 2,543
Supplemental disclosure of noncash investing and financing activities:      
Distributions on common shares/ units declared and accrued 176,162 166,103 128,916
Accrued construction in progress 23,345 16,484 15,123
Interest capitalized $ 12,376 $ 8,728 $ 9,720