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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities:    
Net income $ 141,425 $ 90,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 74,876 69,397
Impairment charges (0) 2,974
Equity award expense 6,457 5,905
Gain on sale of properties (10,005) (3,847)
(Gain)/loss on marketable securities, net (61,085) 4,667
Distributions from joint ventures and other real estate investments 19,198 35,894
Change in accounts and notes receivable, net 18,593 (1,526)
Change in accounts payable and accrued expenses 15,387 5,456
Change in other operating assets and liabilities, net (34,936) (29,454)
Net cash flow provided by operating activities 148,371 155,249
Cash flow from investing activities:    
Acquisition of operating real estate (84,312) (7,073)
Improvements to operating real estate (20,569) (54,973)
Improvements to real estate under development 0 (16,578)
Proceeds from sale of marketable securities 50 163
Investments in and advances to real estate joint ventures (1,805) (5,282)
Reimbursements of investments in and advances to real estate joint ventures 967 1,914
Investments in and advances to other real estate investments (419) (478)
Reimbursements of investments in and advances to other real estate investments 343 0
Investment in other financing receivable (397) 0
Collection of mortgage loans receivable 37 40
Proceeds from sale of properties 22,181 13,264
Proceeds from insurance casualty claims 0 2,450
Net cash flow used for investing activities (83,924) (66,553)
Cash flow from financing activities:    
Principal payments on debt, excluding normal amortization of rental property debt (12,272) (75,681)
Principal payments on rental property debt (2,661) (2,742)
Proceeds from the unsecured revolving credit facility, net 0 475,000
Financing origination costs 0 (5,145)
Redemption/distribution of noncontrolling interests (539) (20,926)
Dividends paid (80,039) (127,255)
Proceeds from issuance of stock, net 160 981
Shares repurchased for employee tax withholding on equity awards (9,082) (5,149)
Change in tenants' security deposits 650 70
Net cash flow (used for)/provided by financing activities (103,783) 239,153
Net change in cash and cash equivalents (39,336) 327,849
Cash and cash equivalents, beginning of the period 293,188 123,947
Cash and cash equivalents, end of the period 253,852 451,796
Interest paid during the period (net of capitalized interest of $296 and $4,364, respectively) 29,383 25,383
Joint Ventures [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income (17,752) (13,648)
Other Real Estate Investments [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income $ (3,787) $ (10,958)