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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities:    
Net income $ 50,276 $ 21,169
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 135,027 133,609
Share-based compensation expense 4,101 5,607
Amortization of deferred leasing costs 2,856 2,579
Amortization of deferred financing costs 7,952 10,150
Amortization of debt discounts 1,348 2,364
Provisions for impairment 2,471 3,253
Gain on sale of property, net of tax (15,200) (17,572)
Change in fair value of derivative instruments 1,091 2,351
Other noncash amounts included in net income (185) 419
Changes in operating assets and liabilities:    
Other assets, net (10,787) 304
Accounts payable and accrued expenses (4,534) 25,002
Resident security deposits 2,373 1,677
Other liabilities 932 2,271
Net cash provided by operating activities 177,721 193,183
Investing Activities:    
Amounts deposited and held by others (773) (1,173)
Acquisition of single-family residential properties (137,471) (55,458)
Initial renovations to single-family residential properties (31,042) (9,644)
Other capital expenditures for single-family residential properties (40,220) (29,492)
Proceeds from sale of single-family residential properties 123,318 142,562
Repayment proceeds from retained debt securities 5,539 8,441
Other investing activities (93) (209)
Net cash provided by (used in) investing activities (80,742) 55,027
Financing Activities:    
Payment of dividends and dividend equivalents (81,774) (67,965)
Distributions to non-controlling interests (534) (1,175)
Payment of taxes related to net share settlement of RSUs (3,171) (6,723)
Payments on mortgage loans (107,387) (180,812)
Proceeds from revolving facility 320,000 20,000
Payments on revolving facility (50,000) (20,000)
Proceeds from issuance of common stock, net 55,921 0
Other financing activities (484) (108)
Net cash provided by (used in) financing activities 132,571 (256,783)
Change in cash, cash equivalents, and restricted cash 229,550 (8,573)
Cash, cash equivalents, and restricted cash, beginning of period (Note 4) 286,245 359,991
Cash, cash equivalents, and restricted cash, end of period (Note 4) 515,795 351,418
Supplemental cash flow disclosures:    
Interest paid, net of amounts capitalized 77,326 83,316
Cash paid for income taxes 362 866
Operating cash flows from operating leases 1,398 1,326
Financing cash flows from finance leases 454 108
Noncash investing and financing activities:    
Accrued renovation improvements at period end 12,489 5,361
Accrued residential property capital improvements at period end 11,159 7,906
Transfer of residential property, net to other assets, net for held for sale assets 60,061 94,474
Change in other comprehensive loss from cash flow hedges (333,949) (101,049)
ROU assets obtained in exchange for operating lease liabilities 518 1,721
ROU assets obtained in exchange for finance lease liabilities $ 7,285 $ 0