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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 456,566 $ 541,576 $ 567,831
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 622,969 586,402 565,857
(Gain) loss on sale of depreciable real estate assets (72,066) (55,003) 62
Gain on sale of non-depreciable real estate assets 0 0 (54)
Gain on consolidation of third-party development 0 (11,239) 0
(Gain) loss on embedded derivative in preferred shares (1,111) 18,751 (18,528)
Stock compensation expense 16,839 15,789 15,699
Amortization of debt issuance costs, discounts and premiums 6,564 6,036 5,909
Gain on investments (7,457) (7,809) (4,449)
Change in accrued expenses and other liabilities 46,618 38,592 29,313
Net change in other operating accounts and operating activities 9,253 (34,803) (24,453)
Net cash provided by operating activities 1,078,175 1,098,292 1,137,187
Cash flows from investing activities:      
Purchases of real estate and other assets (133,447) (301,071) (223,453)
Capital improvements and other (360,238) (322,372) (341,224)
Development costs (272,030) (313,888) (198,152)
Distributions from real estate joint venture 337 327 312
Contributions to affiliates (9,850) (2,874) (16,636)
Proceeds from real estate asset dispositions 81,353 84,209 2,946
Proceeds from sale of markable equity securities 0 9,975 0
Net proceeds from insurance recoveries 3,657 20,195 945
Net cash used in investing activities (690,218) (825,499) (775,262)
Cash flows from financing activities:      
Net proceeds from (payments of) commercial paper 426,000 (245,000) 475,000
Proceeds from notes payable 397,416 1,091,646 0
Principal payments on notes payable (400,000) (400,000) (353,861)
Payment of deferred financing costs (10,911) (10,317) (2)
Repurchase of common shares (27,235) 0 0
Distributions to noncontrolling interests (18,222) (18,260) (17,671)
Dividends paid on common shares (709,024) (686,900) (651,717)
Dividends paid on preferred shares (3,688) (3,688) (3,688)
Proceeds from issuances of common shares 1,452 1,230 205,070
Acquisition of noncontrolling interests (26,786) 0 (15,757)
Net change in other financing activities 255 166 (5,279)
Net cash used in financing activities (370,743) (271,123) (367,905)
Net increase (decrease) in cash, cash equivalents and restricted cash 17,214 1,670 (5,980)
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091 61,071
Cash, cash equivalents and restricted cash, end of period 73,975 56,761 55,091
Reconciliation of cash, cash equivalents and restricted cash at period end:      
Cash and cash equivalents 60,258 43,018 41,314
Restricted cash 13,717 13,743 13,777
Total cash, cash equivalents and restricted cash 73,975 56,761 55,091
Supplemental information:      
Interest paid 190,259 164,883 157,566
Income taxes paid 300 3,343 4,002
Non-cash transactions:      
Distributions on common shares/units declared and accrued 183,324 181,738 176,162
Accrued construction in progress 25,914 32,903 23,345
Interest capitalized 18,863 17,435 12,376
Conversion of OP Units to shares of common stock 6,759 3,529 1,092
Limited Partnership [Member]      
Cash flows from operating activities:      
Net income 456,566 541,576 567,831
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 622,969 586,402 565,857
(Gain) loss on sale of depreciable real estate assets (72,066) (55,003) 62
Gain on sale of non-depreciable real estate assets 0 0 (54)
Gain on consolidation of third-party development 0 (11,239) 0
(Gain) loss on embedded derivative in preferred shares (1,111) 18,751 (18,528)
Stock compensation expense 16,839 15,789 15,699
Amortization of debt issuance costs, discounts and premiums 6,564 6,036 5,909
Gain on investments (7,457) (7,809) (4,449)
Change in accrued expenses and other liabilities 46,618 38,592 29,313
Net change in other operating accounts and operating activities 9,253 (34,803) (24,453)
Net cash provided by operating activities 1,078,175 1,098,292 1,137,187
Cash flows from investing activities:      
Purchases of real estate and other assets (133,447) (301,071) (223,453)
Capital improvements and other (360,238) (322,372) (341,224)
Development costs (272,030) (313,888) (198,152)
Distributions from real estate joint venture 337 327 312
Contributions to affiliates (9,850) (2,874) (16,636)
Proceeds from real estate asset dispositions 81,353 84,209 2,946
Proceeds from sale of markable equity securities 0 9,975 0
Net proceeds from insurance recoveries 3,657 20,195 945
Net cash used in investing activities (690,218) (825,499) (775,262)
Cash flows from financing activities:      
Net proceeds from (payments of) commercial paper 426,000 (245,000) 475,000
Proceeds from notes payable 397,416 1,091,646 0
Principal payments on notes payable (400,000) (400,000) (353,861)
Payment of deferred financing costs (10,911) (10,317) (2)
Repurchase of common shares (27,235) 0 0
Dividends paid on common shares (727,246) (705,160) (669,388)
Dividends paid on preferred shares (3,688) (3,688) (3,688)
Proceeds from issuances of common shares 1,452 1,230 205,070
Acquisition of noncontrolling interests (26,786) 0 (15,757)
Net change in other financing activities 255 166 (5,279)
Net cash used in financing activities (370,743) (271,123) (367,905)
Net increase (decrease) in cash, cash equivalents and restricted cash 17,214 1,670 (5,980)
Cash, cash equivalents and restricted cash, beginning of period 56,761 55,091 61,071
Cash, cash equivalents and restricted cash, end of period 73,975 56,761 55,091
Reconciliation of cash, cash equivalents and restricted cash at period end:      
Cash and cash equivalents 60,258 43,018 41,314
Restricted cash 13,717 13,743 13,777
Total cash, cash equivalents and restricted cash 73,975 56,761 55,091
Supplemental information:      
Interest paid 190,259 164,883 157,566
Income taxes paid 300 3,343 4,002
Non-cash transactions:      
Distributions on common shares/units declared and accrued 183,324 181,738 176,162
Accrued construction in progress 25,914 32,903 23,345
Interest capitalized $ 18,863 $ 17,435 $ 12,376