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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 400,642 $ 590,211
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 401,088 367,769
Amortization of deferred financing costs 3,950 3,675
Amortization of debt discount 1,387 1,320
Gain on extinguishment of debt, net 0 (122)
Amortization of stock-based compensation 17,681 13,185
Equity in (income) loss of, and return on, unconsolidated entities and noncontrolling interests, net of eliminations (1) 2,989
Real estate casualty loss 0 831
Abandonment of development pursuits 738 685
Unrealized gain on terminated cash flow hedges 0 (2,654)
Cash flow hedge losses reclassified to earnings 2,026 4,733
Gain on sale of real estate assets (149,284) (412,060)
Gain on sale of for-sale condominiums (1,469) (706)
Decrease in resident security deposits, prepaid expenses and other assets (31,336) (16,329)
(Decrease) increase in accrued expenses, other liabilities and accrued interest payable (5,374) 15,102
Net cash provided by operating activities 640,048 568,629
Cash flows from investing activities:    
Development/redevelopment of real estate assets including land acquisitions and deferred development costs (414,107) (325,692)
Acquisition of real estate assets, including partnership interest (165,117) (118,572)
Capital expenditures - existing real estate assets (64,356) (57,157)
Capital expenditures - non-real estate assets (5,665) (2,584)
Decrease in payables for construction (5,024) (27,294)
Proceeds from sale of real estate, net of selling costs 230,660 575,431
Proceeds from the sale of for-sale condominiums, net of selling costs 75,182 48,655
Note receivable lending (6,055) (113)
Note receivable payments 4,021 1,556
Distributions from unconsolidated entities 2,000 22,331
Investments in unconsolidated entities (8,047) (27,356)
Net cash (used in) provided by investing activities (356,508) 89,205
Cash flows from financing activities:    
Issuance of common stock, net 2,010 2,372
Dividends paid (445,226) (444,572)
Repayments of mortgage notes payable, including prepayment penalties (6,427) (34,734)
Repayment of unsecured notes (100,000) 0
Payment of deferred financing costs (421) 0
Receipt for termination of forward interest rate swaps 0 6,962
Payment to noncontrolling interest (29) (33)
Payments related to tax withholding for share-based compensation (16,379) (13,228)
Distributions to DownREIT partnership unitholders (24) (24)
Distributions to joint venture and profit-sharing partners (181) (164)
Preferred interest obligation redemption and dividends (460) (840)
Net cash used in financing activities (567,137) (484,261)
Net (decrease) increase in cash, cash equivalents and cash in escrow (283,597) 173,573
Cash, cash equivalents and cash in escrow, beginning of period 543,788 313,532
Cash, cash equivalents and cash in escrow, end of period 260,191 487,105
Cash paid during the period for interest, net of amount capitalized 106,443 101,703
Supplemental Cash Flow Information [Abstract]    
Cash and cash equivalents 152,522 297,036
Cash in escrow 107,669 190,069
Cash, cash equivalents and cash in escrow reported in the Condensed Consolidated Statements of Cash Flows $ 260,191 $ 487,105