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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 297,281 $ 252,272
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 306,208 288,435
(Gain) loss on sale of depreciable real estate assets (71,842) 25
Gain on embedded derivative in preferred shares (1,283) (3,806)
Stock compensation expense 8,727 9,273
Amortization of debt issuance costs, discounts and premiums 3,242 3,055
Gain on investments (413) (4,314)
Net change in operating accounts and other operating activities 8,147 4,687
Net cash provided by operating activities 550,067 549,627
Cash flows from investing activities:    
Purchases of real estate and other assets (8,690) (91,846)
Capital improvements and other (161,541) (141,775)
Development costs (145,358) (111,108)
Distributions from real estate joint venture 0 224
Contributions to affiliates (7,425) (1,124)
Proceeds from sale of marketable equity securities 0 6,729
Proceeds from real estate asset dispositions 81,128 0
Net proceeds from insurance recoveries 3,564 9,072
Net cash used in investing activities (238,322) (329,828)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 65,000 (179,000)
Proceeds from notes payable 0 744,551
Principal payments on notes payable 0 (400,000)
Payment of deferred financing costs 0 (7,150)
Distributions to noncontrolling interests (9,297) (9,191)
Dividends paid on common shares (354,284) (343,304)
Dividends paid on preferred shares (1,844) (1,844)
Proceeds from issuances of common shares 729 616
Net change in other financing activities (694) (3,068)
Net cash used in financing activities (300,390) (198,390)
Net increase in cash, cash equivalents and restricted cash 11,355 21,409
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091
Cash, cash equivalents and restricted cash, end of period 68,116 76,500
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 54,482 62,831
Restricted cash 13,634 13,669
Total cash, cash equivalents and restricted cash 68,116 76,500
Supplemental information:    
Interest paid 87,696 74,766
Income taxes paid 141 3,181
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,832 176,329
Accrued construction in progress 41,738 35,993
Interest capitalized 10,153 7,140
Conversion of OP Units to shares of common stock 6,368 2,603
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 297,281 252,272
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 306,208 288,435
(Gain) loss on sale of depreciable real estate assets (71,842) 25
Gain on embedded derivative in preferred shares (1,283) (3,806)
Stock compensation expense 8,727 9,273
Amortization of debt issuance costs, discounts and premiums 3,242 3,055
Gain on investments (413) (4,314)
Net change in operating accounts and other operating activities 8,147 4,687
Net cash provided by operating activities 550,067 549,627
Cash flows from investing activities:    
Purchases of real estate and other assets (8,690) (91,846)
Capital improvements and other (161,541) (141,775)
Development costs (145,358) (111,108)
Distributions from real estate joint venture 0 224
Contributions to affiliates (7,425) (1,124)
Proceeds from sale of marketable equity securities 0 6,729
Proceeds from real estate asset dispositions 81,128 0
Net proceeds from insurance recoveries 3,564 9,072
Net cash used in investing activities (238,322) (329,828)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 65,000 (179,000)
Proceeds from notes payable 0 744,551
Principal payments on notes payable 0 (400,000)
Payment of deferred financing costs 0 (7,150)
Dividends paid on common shares (363,581) (352,495)
Dividends paid on preferred shares (1,844) (1,844)
Proceeds from issuances of common shares 729 616
Net change in other financing activities (694) (3,068)
Net cash used in financing activities (300,390) (198,390)
Net increase in cash, cash equivalents and restricted cash 11,355 21,409
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091
Cash, cash equivalents and restricted cash, end of period 68,116 76,500
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 54,482 62,831
Restricted cash 13,634 13,669
Total cash, cash equivalents and restricted cash 68,116 76,500
Supplemental information:    
Interest paid 87,696 74,766
Income taxes paid 141 3,181
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,832 176,329
Accrued construction in progress 41,738 35,993
Interest capitalized $ 10,153 $ 7,140