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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 186,406 $ 147,610
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 152,520 143,258
(Gain) loss on sale of depreciable real estate assets (71,911) 2
Loss (gain) on embedded derivative in preferred shares 410 (13,092)
Stock compensation expense 5,261 5,869
Amortization of debt issuance costs, discounts and premiums 1,616 1,529
Gain on investments (810) (5,172)
Net change in operating accounts and other operating activities (76,874) (79,747)
Net cash provided by operating activities 196,618 200,257
Cash flows from investing activities:    
Purchases of real estate and other assets 0 (20)
Capital improvements and other (72,636) (52,101)
Development costs (66,222) (45,512)
Distributions from real estate joint venture 0 100
Contributions to affiliates (3,675) (750)
Proceeds from real estate asset dispositions 81,128 0
Net proceeds from insurance recoveries 0 5,271
Net cash used in investing activities (61,405) (93,012)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 60,000 (260,000)
Proceeds from notes payable 0 346,567
Payment of deferred financing costs 0 (3,450)
Distributions to noncontrolling interests (4,660) (4,621)
Dividends paid on common shares (177,107) (171,570)
Dividends paid on preferred shares (922) (922)
Proceeds from issuances of common shares 375 303
Net change in other financing activities (206) (567)
Net cash used in financing activities (122,520) (94,260)
Net increase in cash, cash equivalents and restricted cash 12,693 12,985
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091
Cash, cash equivalents and restricted cash, end of period 69,454 68,076
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 55,776 54,601
Restricted cash 13,678 13,475
Total cash, cash equivalents and restricted cash 69,454 68,076
Supplemental information:    
Interest paid 52,393 32,785
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,765 176,195
Accrued construction in progress 34,599 28,643
Interest capitalized 5,105 3,416
Conversion of OP Units to shares of common stock 759 594
Limited Partner [Member]    
Cash flows from operating activities:    
Net income 186,406 147,610
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 152,520 143,258
(Gain) loss on sale of depreciable real estate assets (71,911) 2
Loss (gain) on embedded derivative in preferred shares 410 (13,092)
Stock compensation expense 5,261 5,869
Amortization of debt issuance costs, discounts and premiums 1,616 1,529
Gain on investments (810) (5,172)
Net change in operating accounts and other operating activities (76,874) (79,747)
Net cash provided by operating activities 196,618 200,257
Cash flows from investing activities:    
Purchases of real estate and other assets 0 (20)
Capital improvements and other (72,636) (52,101)
Development costs (66,222) (45,512)
Distributions from real estate joint venture 0 100
Contributions to affiliates (3,675) (750)
Proceeds from real estate asset dispositions 81,128 0
Net proceeds from insurance recoveries 0 5,271
Net cash used in investing activities (61,405) (93,012)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 60,000 (260,000)
Proceeds from notes payable 0 346,567
Payment of deferred financing costs 0 (3,450)
Dividends paid on common shares (181,767) (176,191)
Dividends paid on preferred shares (922) (922)
Proceeds from issuances of common shares 375 303
Net change in other financing activities (206) (567)
Net cash used in financing activities (122,520) (94,260)
Net increase in cash, cash equivalents and restricted cash 12,693 12,985
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091
Cash, cash equivalents and restricted cash, end of period 69,454 68,076
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 55,776 54,601
Restricted cash 13,678 13,475
Total cash, cash equivalents and restricted cash 69,454 68,076
Supplemental information:    
Interest paid 52,393 32,785
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,765 176,195
Accrued construction in progress 34,599 28,643
Interest capitalized $ 5,105 $ 3,416