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Condensed Consolidated Statements Of Cash Flows
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Cash flows from operating activities      
Net income $ 30,605 $ 94,517 $ 98,198
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization   304,189 275,237
Gain on sale of land   0 (382)
Distributions of income from joint ventures   6,553 6,250
Income (Loss) from Equity Method Investments (2,500) [1],[2] (6,652) [1],[2] (5,909) [1]
Share-based compensation   12,148 10,237
Net change in operating accounts and other   25,267 29,653
Net cash from operating activities   436,022 413,284
Cash flows from investing activities      
Development and capital improvements, including land   (279,698) (294,409)
Acquisition of operating properties   (464,000) 0
Proceeds from sale of land   0 753
Increase in non-real estate assets   (4,685) (6,126)
Other   (7,371) 1,693
Net cash from investing activities   (755,754) (298,089)
Cash flows from financing activities      
Common shares issued 220,675 579,518 0
Payments of Dividends   (255,120) (249,223)
Borrowings on unsecured credit facility and other short-term borrowings   0 358,000
Repayments on unsecured credit facility and other short-term borrowings   0 (402,000)
Proceeds from notes payable   0 743,103
Other   4,348 958
Net cash from financing activities   328,746 450,838
Net increase in cash, cash equivalents, and restricted cash   9,014 566,033
Cash, cash equivalents, and restricted cash, beginning of period   424,533 27,499
Cash, cash equivalents, and restricted cash, end of period 433,547 433,547 593,532
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 428,226 428,226 589,614
Restricted cash 5,321 5,321 3,918
Total cash, cash equivalents, and restricted cash 433,547 433,547 593,532
Supplemental information      
Cash paid for interest, net of interest capitalized   64,794 56,895
Cash paid for income taxes   2,221 1,920
Supplemental schedule of noncash investing and financing activities      
Distributions declared but not paid   87,919 84,137
Value of shares issued under benefit plans, net of cancellations   18,858 19,538
Conversion of operating partnership units 0 0  
Accrual associated with construction and capital expenditures   25,137 26,845
Right-of-use assets obtained in exchange for the use of new operating lease liabilities   0 93
Conversion of operating partnership units $ 0 0  
Conversion of Stock, Name [Domain]      
Supplemental schedule of noncash investing and financing activities      
Conversion of operating partnership units   5,936 0
Conversion of operating partnership units   $ 5,936 $ 0
[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 nine months ended September 30, 2020 includes our ownership interest of the Resident Relief Funds payments of approximately $0.4 million.