CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Cash flows from operating activities:
Net income	$ 208,053		$ 141,599
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation expense	116,853	[1]	106,367	[1]
Amortization of deferred financing costs	1,664		1,518
Amortization of debt premium	(8,660)		(8,774)
Amortization of stock-based compensation	4,038		3,615
Equity in loss (income) of, and return on, unconsolidated entities and noncontrolling interests, net of eliminations	3,805		(547)
Casualty and Impairment Loss	4,995		0
Cash flow hedge losses reclassified to earnings	1,565		1,573
Gain on sale of real estate assets	(79,033)		(37,869)
(Increase) decrease in cash in operating escrows	(7,815)		6,831
(Increase) decrease in resident security deposits, prepaid expenses and other assets	(2,351)		13,655
Increase in accrued expenses, other liabilities and accrued interest payable	(6,734)		(7,651)
Net cash provided by operating activities	236,380		220,317
Cash flows from investing activities:
Development/redevelopment of real estate assets including land acquisitions and deferred development costs	(578,632)		(266,930)
Capital expenditures - existing real estate assets	(7,820)		(13,709)
Capital expenditures - non-real estate assets	(859)		(9,300)
Proceeds from sale of real estate, net of selling costs	112,504		52,147
Decrease in payables for construction	(7,885)		(339)
Proceeds from Sale of Equity Method Investments	40,493		15,194
Payments to Acquire Businesses and Interest in Affiliates	0		(1,427)
Net cash used in investing activities	(442,199)		(224,364)
Cash flows from financing activities:
Issuance of common stock	1,973		7,234
Dividends paid	(153,095)		(138,393)
Issuance of mortgage notes payable	0		250,000
Repayments of mortgage notes payable, including prepayment penalties	(4,209)		(3,832)
Issuance of unsecured notes	50,000		0
Payment of deferred financing costs	(578)		(3,022)
Distributions to DownREIT partnership unitholders	(9)		(9)
Distributions to joint venture and profit-sharing partners	(91)		(82)
Redemption of preferred interest obligation	(1,520)		(3,200)
Net cash provided by (used in) financing activities	(107,529)		108,696
Net increase (decrease) in cash and cash equivalents	(313,348)		104,649
Cash and cash equivalents, beginning of period	508,276		281,541
Cash and cash equivalents, end of period	194,928		386,190
Cash paid during the period for interest, net of amount capitalized	$ 59,624		$ 55,140

[1] Includes amounts associated with assets sold or held for sale, not classified as discontinued operations.