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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 399,325 $ 370,502
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 463,027 435,342
(Gain) loss on sale of depreciable real estate assets (71,842) 25
Gain on consolidation of third-party development 0 (11,033)
(Gain) loss on embedded derivative in preferred shares (3,292) 14,451
Stock compensation expense 12,143 12,396
Amortization of debt issuance costs, discounts and premiums 4,866 4,568
Gain on investments (5,770) (3,666)
Net change in operating accounts and other operating activities 18,046 36,580
Net cash provided by operating activities 816,503 859,165
Cash flows from investing activities:    
Purchases of real estate and other assets (104,880) (189,104)
Capital improvements and other (257,163) (235,856)
Development costs (207,295) (255,216)
Distributions from real estate joint venture 0 284
Contributions to affiliates (8,175) (1,874)
Proceeds from sale of marketable equity securities 0 9,975
Proceeds from real estate asset dispositions 81,128 0
Net proceeds from insurance recoveries 3,692 20,203
Net cash used in investing activities (492,693) (651,588)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 213,000 (5,000)
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 (13,766) (13,739)
Dividends paid on common shares (531,645) (515,085)
Dividends paid on preferred shares (2,766) (2,766)
Proceeds from issuances of common shares 1,089 955
Net change in other financing activities (551) (373)
Net cash used in financing activities (334,639) (198,607)
Net (decrease) increase in cash, cash equivalents and restricted cash (10,829) 8,970
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091
Cash, cash equivalents and restricted cash, end of period 45,932 64,061
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 32,249 50,232
Restricted cash 13,683 13,829
Total cash, cash equivalents and restricted cash 45,932 64,061
Supplemental information:    
Interest paid 152,760 126,502
Income taxes paid 242 3,273
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,836 176,335
Accrued construction in progress 37,223 39,047
Interest capitalized 14,691 12,188
Conversion of OP Units to shares of common stock 6,759 3,529
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 399,325 370,502
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 463,027 435,342
(Gain) loss on sale of depreciable real estate assets (71,842) 25
Gain on consolidation of third-party development 0 (11,033)
(Gain) loss on embedded derivative in preferred shares (3,292) 14,451
Stock compensation expense 12,143 12,396
Amortization of debt issuance costs, discounts and premiums 4,866 4,568
Gain on investments (5,770) (3,666)
Net change in operating accounts and other operating activities 18,046 36,580
Net cash provided by operating activities 816,503 859,165
Cash flows from investing activities:    
Purchases of real estate and other assets (104,880) (189,104)
Capital improvements and other (257,163) (235,856)
Development costs (207,295) (255,216)
Distributions from real estate joint venture 0 284
Contributions to affiliates (8,175) (1,874)
Proceeds from sale of marketable equity securities 0 9,975
Proceeds from real estate asset dispositions 81,128 0
Net proceeds from insurance recoveries 3,692 20,203
Net cash used in investing activities (492,693) (651,588)
Cash flows from financing activities:    
Net proceeds from (payments of) commercial paper 213,000 (5,000)
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 (545,411) (528,824)
Dividends paid on preferred shares (2,766) (2,766)
Proceeds from issuances of common shares 1,089 955
Net change in other financing activities (551) (373)
Net cash used in financing activities (334,639) (198,607)
Net (decrease) increase in cash, cash equivalents and restricted cash (10,829) 8,970
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091
Cash, cash equivalents and restricted cash, end of period 45,932 64,061
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 32,249 50,232
Restricted cash 13,683 13,829
Total cash, cash equivalents and restricted cash 45,932 64,061
Supplemental information:    
Interest paid 152,760 126,502
Income taxes paid 242 3,273
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,836 176,335
Accrued construction in progress 37,223 39,047
Interest capitalized $ 14,691 $ 12,188