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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Assets    
Land $ 1,021,031 $ 967,375
Buildings and improvements 6,269,481 5,967,023
Real estate assets, at cost, total 7,290,512 6,934,398
Accumulated depreciation (2,118,839) (1,890,656)
Net operating real estate assets 5,171,673 5,043,742
Properties under development, including land 377,231 442,292
Investments in joint ventures 27,237 30,254
Total real estate assets 5,576,141 5,516,288
Accounts receivable – affiliates 24,038 24,028
Other assets, net 195,764 142,010
Short-term investments 0 100,000
Cash and cash equivalents 368,492 237,364
Restricted cash 9,313 8,462
Total assets 6,173,748 6,028,152
Liabilities    
Unsecured notes payable 1,338,628 1,583,236
Secured notes payable 865,970 897,352
Accounts payable and accrued expenses 128,313 137,813
Accrued real estate taxes 51,383 49,041
Distributions payable 72,943 69,161
Other liabilities 154,567 118,959
Total liabilities 2,611,804 2,855,562
Commitments and contingencies (Note 14)
Non-qualified deferred compensation share awards 77,230 77,037
Equity    
Common shares of beneficial interest; $0.01 par value per share; 175,000 shares authorized; 105,489 and 100,694 issued; 102,769 and 97,818 outstanding at December 31, 2017 and 2016, respectively 1,028 978
Additional paid-in capital 4,137,161 3,678,277
Distributions in excess of net income attributable to common shareholders (368,703) (289,180)
Treasury shares, at cost (10,073 and 10,330 common shares, at December 31, 2017 and 2016, respectively) (364,066) (373,339)
Accumulated other comprehensive loss (57) (1,863)
Total common equity 3,405,363 3,014,873
Non-controlling interests 79,351 80,680
Total equity 3,484,714 3,095,553
Total liabilities and equity $ 6,173,748 $ 6,028,152