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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 147,610 $ 139,574
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 143,258 138,758
Loss (gain) on sale of depreciable real estate assets 2 (15)
Gain on sale of non-depreciable real estate assets 0 (54)
Gain on embedded derivative in preferred shares (13,092) (4,435)
Stock compensation expense 5,869 5,578
Amortization of debt issuance costs, discounts and premiums 1,529 1,517
(Gain) loss on investments (5,172) 1,024
Net change in operating accounts and other operating activities (79,747) (63,637)
Net cash provided by operating activities 200,257 218,310
Cash flows from investing activities:    
Purchases of real estate and other assets (20) (12,450)
Capital improvements and other (52,101) (75,622)
Development costs (45,512) (52,851)
Distributions from real estate joint venture 100 0
Contributions to affiliates (750) (1,250)
Proceeds from real estate asset dispositions 0 3,024
Net proceeds from insurance recoveries 5,271 764
Net cash used in investing activities (93,012) (138,385)
Cash flows from financing activities:    
Net payments of commercial paper (260,000) (20,000)
Proceeds from notes payable 346,567 0
Principal payments on notes payable 0 (362)
Payment of deferred financing costs (3,450) 0
Distributions to noncontrolling interests (4,621) (4,429)
Dividends paid on common shares (171,570) (161,683)
Dividends paid on preferred shares (922) (922)
Proceeds from issuances of common shares 303 204,077
Net change in other financing activities (567) (1,660)
Net cash (used in) provided by financing activities (94,260) 15,021
Net increase in cash, cash equivalents and restricted cash 12,985 94,946
Cash, cash equivalents and restricted cash, beginning of period 55,091 61,071
Cash, cash equivalents and restricted cash, end of period 68,076 156,017
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 54,601 142,411
Restricted cash 13,475 13,606
Total cash, cash equivalents and restricted cash 68,076 156,017
Supplemental disclosure of cash flow information:    
Interest paid 32,785 29,516
Income taxes paid 0 25
Supplemental disclosure of noncash investing and financing activities:    
Distribution on common units declared and accrued 176,195 167,659
Accrued construction in progress 28,643 31,492
Interest capitalized 3,416 2,746
Conversion of OP Units to shares of common stock 594 479
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 147,610 139,574
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 143,258 138,758
Loss (gain) on sale of depreciable real estate assets 2 (15)
Gain on sale of non-depreciable real estate assets 0 (54)
Gain on embedded derivative in preferred shares (13,092) (4,435)
Stock compensation expense 5,869 5,578
Amortization of debt issuance costs, discounts and premiums 1,529 1,517
(Gain) loss on investments (5,172) 1,024
Net change in operating accounts and other operating activities (79,747) (63,637)
Net cash provided by operating activities 200,257 218,310
Cash flows from investing activities:    
Purchases of real estate and other assets (20) (12,450)
Capital improvements and other (52,101) (75,622)
Development costs (45,512) (52,851)
Distributions from real estate joint venture 100 0
Contributions to affiliates (750) (1,250)
Proceeds from real estate asset dispositions 0 3,024
Net proceeds from insurance recoveries 5,271 764
Net cash used in investing activities (93,012) (138,385)
Cash flows from financing activities:    
Net payments of commercial paper (260,000) (20,000)
Proceeds from notes payable 346,567 0
Principal payments on notes payable 0 (362)
Payment of deferred financing costs (3,450) 0
Dividends paid on common shares (176,191) (166,112)
Dividends paid on preferred shares (922) (922)
Proceeds from issuances of common shares 303 204,077
Net change in other financing activities (567) (1,660)
Net cash (used in) provided by financing activities (94,260) 15,021
Net increase in cash, cash equivalents and restricted cash 12,985 94,946
Cash, cash equivalents and restricted cash, beginning of period 55,091 61,071
Cash, cash equivalents and restricted cash, end of period 68,076 156,017
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 54,601 142,411
Restricted cash 13,475 13,606
Total cash, cash equivalents and restricted cash 68,076 156,017
Supplemental disclosure of cash flow information:    
Interest paid 32,785 29,516
Income taxes paid 0 25
Supplemental disclosure of noncash investing and financing activities:    
Distribution on common units declared and accrued 176,195 167,659
Accrued construction in progress 28,643 31,492
Interest capitalized $ 3,416 $ 2,746