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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 61,978 $ 83,263
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 184,662 164,920
Gain on sale of land (382) 0
Distributions of income from joint ventures 4,039 3,802
Equity in income of joint ventures 3,755 [1],[2] 3,821
Share-based compensation 7,046 8,535
Settlement of forward interest rate swaps 0 20,430
Net change in operating accounts and other (3,414) (17,598)
Net cash from operating activities 250,174 218,671
Cash flows from investing activities    
Development and capital improvements, including land (199,598) (206,724)
Acquisition of operating properties 0 (214,233)
Proceeds from sale of land 753 0
Increase in non-real estate assets (4,871) (9,655)
Other (1,920) 505
Net cash from investing activities (205,636) (430,107)
Cash flows from financing activities    
Borrowings on unsecured credit facility and other short-term borrowings 358,000 1,167,000
Repayments on unsecured credit facility and other short-term borrowings (402,000) (1,167,000)
Repayment of notes payable 0 (439,852)
Proceeds from notes payable 743,103 593,409
Distributions to common shareholders and non-controlling interests (165,085) (155,723)
Proceeds from issuance of common shares 0 328,374
Payment of deferred financing costs (686) (5,342)
Other 308 1,910
Net cash from financing activities 533,640 322,776
Net increase in cash, cash equivalents, and restricted cash 578,178 111,340
Cash, cash equivalents, and restricted cash, beginning of year 27,499 43,603
Cash, cash equivalents, and restricted cash, end of period 605,677 154,943
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Total cash, cash equivalents, and restricted cash 605,677 154,943
Supplemental information    
Cash paid for interest, net of interest capitalized 40,551 41,573
Cash paid for income taxes 146 1,197
Supplemental schedule of noncash investing and financing activities    
Distributions declared but not paid 84,138 80,767
Value of shares issued under benefit plans, net of cancellations 20,117 18,554
Accrual associated with construction and capital expenditures 27,259 33,280
Right-of-use assets obtained in exchange for the use of new operating lease liabilities $ 69 $ 16,249
[1]
Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds.
[2]
Equity in income for the three and six months ended June 30, 2020 includes our ownership interest of the Resident Relief Funds payments of approximately $0.4 million.