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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net income $ 391,087 $ 283,937
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 501,128 474,796
Share-based compensation expense 21,493 22,565
Amortization of deferred financing costs 12,003 11,105
Amortization of debt discounts 1,335 1,254
Provisions for impairment 342 238
(Gains) losses on investments in equity securities, net (113) 4,000
Gain on sale of property, net of tax (134,448) (69,486)
Change in fair value of derivative instruments 7,011 7,135
Loss from investments in unconsolidated joint ventures, net of operating distributions 13,370 7,152
Other non-cash amounts included in net income 4,236 6,049
Changes in operating assets and liabilities:    
Other assets, net (19,466) (1,953)
Accounts payable and accrued expenses 185,826 139,884
Resident security deposits 4,559 8,113
Other liabilities 31,181 9,157
Net cash provided by operating activities 1,019,544 903,946
Investing Activities:    
Amounts deposited and held by others 5,212 (33,471)
Acquisition of single-family residential properties (906,845) (509,163)
Initial renovations to single-family residential properties (18,980) (104,943)
Other capital expenditures for single-family residential properties (162,398) (151,962)
Proceeds from sale of single-family residential properties 354,409 181,569
Repayment proceeds from retained debt securities 627 42,404
Investments in equity securities (32,610) (14,340)
Proceeds from sale of investments in equity securities 0 5,762
Investments in unconsolidated joint ventures (442) (166,588)
Non-operating distributions from unconsolidated joint ventures 9,613 2,934
Other investing activities (18,182) (8,291)
Net cash used in investing activities (769,596) (756,089)
Financing Activities:    
Payment of dividends and dividend equivalents (478,841) (404,377)
Distributions to non-controlling interests (1,860) (1,983)
Payment of taxes related to net share settlement of RSUs (8,149) (12,850)
Payments on mortgage loans (15,196) (849,712)
Payments on secured term loan (234) 0
Proceeds from unsecured notes 790,144 598,434
Proceeds from term loan facilities 0 150,000
Proceeds from revolving facility 150,000 130,000
Payments on revolving facility (150,000) (130,000)
Proceeds from issuance of common stock, net 0 98,367
Deferred financing costs paid (7,741) (13,043)
Other financing activities (2,107) (15,655)
Net cash provided by (used in) financing activities 276,016 (450,819)
Change in cash, cash equivalents, and restricted cash 525,964 (302,962)
Cash, cash equivalents, and restricted cash, beginning of period (Note 4) 453,927 818,858
Cash, cash equivalents, and restricted cash, end of period (Note 4) 979,891 515,896
Supplemental cash flow disclosures:    
Interest paid, net of amounts capitalized 212,434 196,542
Interest capitalized as investments in single-family residential properties, net 1,779 5,805
Cash paid for income taxes 86 1,497
Operating cash flows from operating leases 4,597 4,561
Financing cash flows from finance leases 2,101 2,032
Non-cash investing and financing activities:    
Accrued renovation improvements at period end 3,429 5,847
Accrued residential property capital improvements at period end 10,801 11,562
Transfer of residential property, net to other assets, net for held for sale assets 122,329 65,074
Change in other comprehensive income from cash flow hedges 14,860 373,244
ROU assets obtained in exchange for operating lease liabilities 72 1,940
ROU assets obtained in exchange for finance lease liabilities 2,057 295
Net settlement of 2022 Convertible Notes in shares of common stock $ 0 $ 141,219