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EPT - 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 $ 617,028 $ 509,613
Adjustments to reconcile net income to net cash provided by operating activities:    
Straight-lined rents 3,089 581
Depreciation and amortization 454,277 431,785
Amortization of discount and debt financing costs, net 4,609 5,988
Realized and unrealized gains on marketable securities, net (4,059) (10,645)
Provision for credit losses 61 (116)
Company's share of gain on the sales of co-investments (5,189) 0
Equity income from co-investments (34,795) (33,667)
Operating distributions from co-investments 64,125 35,096
Accrued interest from notes and other receivables (7,949) (10,805)
Gain on the sale of real estate and land (299,524) 0
Equity-based compensation 6,664 5,350
Loss on early retirement of debt 762 0
Gain on remeasurement of co-investment (330) (169,909)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 3,171 23,171
Accounts payable, accrued liabilities, and operating lease liabilities 40,595 65,274
Other liabilities (2,314) (1,735)
Net cash provided by operating activities 840,221 849,981
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (686,681) (695,432)
Redevelopment (57,226) (41,198)
Development acquisitions of and additions to real estate under development (44,124) (2,666)
Capital expenditures on rental properties (100,810) (97,535)
Investments in notes receivable (81,481) (58,633)
Collections of notes and other receivables 3,096 26,600
Proceeds from insurance for property losses 2,581 1,700
Proceeds from dispositions of real estate 509,946 0
Contributions to co-investments (31,024) (4,977)
Changes in refundable deposits 8,000 (1,250)
Purchases of marketable securities (10,488) (428)
Sales and maturities of marketable securities 408 23,623
Non-operating distributions from co-investments 114,014 6,500
Net cash used in investing activities (373,789) (843,696)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 751,416 554,875
Payments on unsecured debt and mortgage notes (797,348) (402,315)
Proceeds from lines of credit and commercial paper 5,037,741 1,052,729
Repayments of lines of credit and commercial paper (4,930,686) (1,044,844)
Additions to deferred charges (9,160) (8,521)
Payments related to debt prepayment penalties (697) 0
Net costs from issuance of common stock (280) (580)
Net proceeds from stock options exercised 8,930 12,313
Payments related to tax withholding for share-based compensation (560) 0
Distributions to noncontrolling interest (24,402) (25,445)
Redemption of noncontrolling interest (13,475) (1,076)
Redemption of redeemable noncontrolling interest 0 (521)
Common stock dividends paid (488,514) (462,971)
Net cash used in financing activities (467,035) (326,356)
Net decrease in unrestricted and restricted cash and cash equivalents (603) (320,071)
Unrestricted and restricted cash and cash equivalents at beginning of period 75,846 400,334
Unrestricted and restricted cash and cash equivalents at end of period 75,243 80,263
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of $2.5 million and $0.2 million capitalized in 2025 and 2024, respectively) 186,656 164,389
Operating cash flows from operating leases 4,807 5,221
Supplemental disclosure of noncash investing and financing activities:    
Issuance of Operating Partnership units for contributed properties 0 24,930
Redemption of preferred equity investments upon acquisition of co-investments 0 44,670
Reclassifications (from) to redeemable noncontrolling interest (to) from additional paid in capital and noncontrolling interest (1,103) 2,293
Leased assets obtained in exchange for new operating lease liabilities $ 2,727 $ 0