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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 272,739 $ 115,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 263,912 254,105
(Gain) loss on sale of depreciable real estate assets (134,828) 27
(Gain) loss on sale of non-depreciable real estate assets (32) 371
Loss on embedded derivative in preferred shares 1,940 15,945
Stock compensation expense 9,212 8,150
Amortization of debt issuance costs, discounts and premiums 2,674 2,290
Net change in operating accounts and other operating activities (18,299) (6,953)
Net cash provided by operating activities 397,318 389,615
Cash flows from investing activities:    
Purchases of real estate and other assets (46,028) (5,004)
Capital improvements, development and other (247,544) (191,850)
Distributions from real estate joint venture 392 84
Contributions to affiliates (1,114) (1,725)
Proceeds from disposition of real estate assets 161,756 660
Net cash used in investing activities (132,538) (197,835)
Cash flows from financing activities:    
Proceeds from revolving credit facility   180,000
Repayments of revolving credit facility   (180,000)
Net proceeds from commercial paper 108,000 20,000
Principal payments on notes payable (119,481) (3,483)
Payment of deferred financing costs   31
Distributions to noncontrolling interests (8,302) (8,126)
Dividends paid on common shares (234,591) (228,618)
Dividends paid on preferred shares (1,844) (1,844)
Net change in other financing activities (1,173) (4,625)
Net cash used in financing activities (257,391) (226,727)
Payment of deferred financing costs   (31)
Net increase (decrease) in cash, cash equivalents and restricted cash 7,389 (34,947)
Cash, cash equivalents and restricted cash, beginning of period 35,615 70,541
Cash, cash equivalents and restricted cash, end of period 43,004 35,594
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 31,881 19,667
Restricted cash 11,123 15,927
Cash, cash equivalents and restricted cash, end of period 43,004 35,594
Supplemental disclosure of cash flow information:    
Interest paid 81,122 84,623
Income taxes paid 2,474 120
Supplemental disclosure of noncash investing and financing activities:    
Conversion of OP Units to shares of common stock 22,164 450
Accrued construction in progress 30,771 18,991
Interest capitalized 5,333 3,019
Limited Partner [Member]    
Cash flows from operating activities:    
Net income 272,739 115,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 263,912 254,105
(Gain) loss on sale of depreciable real estate assets (134,828) 27
(Gain) loss on sale of non-depreciable real estate assets (32) 371
Loss on embedded derivative in preferred shares 1,940 15,945
Stock compensation expense 9,212 8,150
Amortization of debt issuance costs, discounts and premiums 2,674 2,290
Net change in operating accounts and other operating activities (18,299) (6,953)
Net cash provided by operating activities 397,318 389,615
Cash flows from investing activities:    
Purchases of real estate and other assets (46,028) (5,004)
Capital improvements, development and other (247,544) (191,850)
Distributions from real estate joint venture 392 84
Contributions to affiliates (1,114) (1,725)
Proceeds from disposition of real estate assets 161,756 660
Net cash used in investing activities (132,538) (197,835)
Cash flows from financing activities:    
Proceeds from revolving credit facility   180,000
Repayments of revolving credit facility   (180,000)
Net proceeds from commercial paper 108,000 20,000
Principal payments on notes payable (119,481) (3,483)
Payment of deferred financing costs   31
Dividends paid on common shares (242,893) (236,744)
Dividends paid on preferred shares (1,844) (1,844)
Net change in other financing activities (1,173) (4,625)
Net cash used in financing activities (257,391) (226,727)
Payment of deferred financing costs   (31)
Net increase (decrease) in cash, cash equivalents and restricted cash 7,389 (34,947)
Cash, cash equivalents and restricted cash, beginning of period 35,615 70,541
Cash, cash equivalents and restricted cash, end of period 43,004 35,594
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 31,881 19,667
Restricted cash 11,123 15,927
Cash, cash equivalents and restricted cash, end of period 43,004 35,594
Supplemental disclosure of cash flow information:    
Interest paid 81,122 84,623
Income taxes paid 2,474 120
Supplemental disclosure of noncash investing and financing activities:    
Accrued construction in progress 30,771 18,991
Interest capitalized $ 5,333 $ 3,019