XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 43,619 $ 83,601
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 142,444 113,138
Gain on sale of operating property 0 (36,372)
Distributions of income from joint ventures 0 3,015
Equity in income of joint ventures 0 (3,048) [1]
Share-based compensation 3,629 3,175
Net change in operating accounts and other (49,981) (41,222)
Net cash from operating activities 139,711 122,287
Cash flows from investing activities    
Development and capital improvements, including land (91,908) (90,531)
Proceeds from sale of operating property 0 70,536
Increase in earnest money 0 23,219
Other (1,627) (5,696)
Net cash from investing activities (93,535) (48,910)
Cash flows from financing activities    
Borrowings on unsecured revolving credit facility 265,000 500,000
Repayments on unsecured revolving credit facility (199,000) 0
Common shares issued 0 26,165
Distributions to common shareholders and non-controlling interests (103,599) (88,786)
Other 1,267 5,758
Net cash from financing activities (36,332) 443,137
Net increase in cash, cash equivalents, and restricted cash 9,844 516,514
Cash, cash equivalents, and restricted cash, beginning of period 17,438 618,980
Cash, cash equivalents, and restricted cash, end of period 27,282 1,135,494
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 20,419 1,129,716
Restricted cash 6,863 5,778
Total cash, cash equivalents, and restricted cash 27,282 1,135,494
Supplemental information    
Cash paid for interest, net of interest capitalized 26,378 16,581
Supplemental schedule of noncash investing and financing activities    
Distributions declared but not paid 110,444 100,880
Value of shares issued under benefit plans, net of cancellations 23,583 20,245
Conversion of operating partnership units to common shares 0  
Accrual associated with construction and capital expenditures 27,413 $ 20,564
Conversion of operating partnership units to common shares $ 0  
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.