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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 211,558 $ 167,505
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 372,210 369,223
(Gain) loss on sale of depreciable real estate assets (987) 21
Gain on sale of non-depreciable real estate assets (9,260) (3,870)
Stock compensation expense 11,550 9,877
Amortization of debt discounts, premiums and issuance costs 4,706 (4,318)
Net change in operating accounts and other 31,761 62,618
(Gain) loss on sale of depreciable real estate assets 987 (21)
Stock compensation expense (11,550) (9,877)
Net cash provided by operating activities 621,538 601,056
Cash flows from investing activities:    
Purchases of real estate and other assets (22,860) (112,656)
Capital improvements, development and other (219,670) (192,520)
Distributions from real estate joint ventures 365  
Contributions to affiliates (4,500) (1,500)
Proceeds from disposition of real estate assets 15,984 18,918
Net cash used in investing activities (230,681) (287,758)
Cash flows from financing activities:    
Proceeds from lines of credit 565,000 780,000
Repayments of lines of credit (1,105,000) (820,000)
Net proceeds from commercial paper 200,000  
Proceeds from notes payable 760,003 397,612
Principal payments on notes payable (468,635) (346,239)
Payment of deferred financing costs (11,530) (3,741)
Distributions to noncontrolling interests (11,813) (11,286)
Distributions paid on common shares/units (328,239) (314,834)
Distributions paid on preferred shares/units (2,766) (2,766)
Net change in other financing activities 3,132 (1,511)
Net cash used in financing activities (399,848) (322,765)
Net decrease in cash, cash equivalents and restricted cash (8,991) (9,467)
Cash, cash equivalents and restricted cash, beginning of period 51,673 88,867
Cash, cash equivalents and restricted cash, end of period 42,682 79,400
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 25,826 46,139
Restricted cash 16,856 33,261
Cash, cash equivalents and restricted cash, end of period 42,682 79,400
Supplemental disclosure of cash flow information:    
Interest paid 108,249 111,439
Income taxes paid 2,509 2,746
Supplemental disclosure of noncash investing and financing activities:    
Conversion of OP Units to shares of common stock 1,993 4,282
Accrued construction in progress 14,652 19,476
Interest capitalized 1,847 1,640
Fair value adjustment on derivative instruments 11,248 7,956
Limited Partner [Member]    
Cash flows from operating activities:    
Net income 211,558 167,505
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 372,210 369,223
(Gain) loss on sale of depreciable real estate assets 987 (21)
Gain on sale of non-depreciable real estate assets (9,260) (3,870)
Stock compensation expense (11,550) (9,877)
Amortization of debt discounts, premiums and issuance costs 4,706 (4,318)
Net change in operating accounts and other 31,761 62,618
(Gain) loss on sale of depreciable real estate assets (987) 21
Stock compensation expense 11,550 9,877
Net cash provided by operating activities 621,538 601,056
Cash flows from investing activities:    
Purchases of real estate and other assets (22,860) (112,656)
Capital improvements, development and other (219,670) (192,520)
Distributions from real estate joint ventures 365  
Contributions to affiliates (4,500) (1,500)
Proceeds from disposition of real estate assets 15,984 18,918
Net cash used in investing activities (230,681) (287,758)
Cash flows from financing activities:    
Proceeds from lines of credit 565,000 780,000
Repayments of lines of credit (1,105,000) (820,000)
Net proceeds from commercial paper 200,000  
Proceeds from notes payable 760,003 397,612
Principal payments on notes payable (468,635) (346,239)
Payment of deferred financing costs (11,530) (3,741)
Distributions paid on common shares/units (340,052) (326,120)
Distributions paid on preferred shares/units (2,766) (2,766)
Net change in other financing activities 3,132 (1,511)
Net cash used in financing activities (399,848) (322,765)
Net decrease in cash, cash equivalents and restricted cash (8,991) (9,467)
Cash, cash equivalents and restricted cash, beginning of period 51,673 88,867
Cash, cash equivalents and restricted cash, end of period 42,682 79,400
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 25,826 46,139
Restricted cash 16,856 33,261
Cash, cash equivalents and restricted cash, end of period 42,682 79,400
Supplemental disclosure of cash flow information:    
Interest paid 108,249 111,439
Income taxes paid 2,509 2,746
Supplemental disclosure of noncash investing and financing activities:    
Accrued construction in progress 14,652 19,476
Interest capitalized 1,847 1,640
Fair value adjustment on derivative instruments $ 11,248 $ 7,956