CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income		$ 586,381	$ 554,801
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation expense	[1]	355,664	328,598
Amortization of deferred financing costs		5,117	4,763
Amortization of debt premium		(19,571)	(26,271)
(Gain) loss on extinguishment of debt, net		(26,736)	412
Amortization of stock-based compensation		11,980	10,354
Equity in loss (income) of, and return on, unconsolidated entities and noncontrolling interests, net of eliminations		13,502	2,911
Casualty and impairment gain, net		(17,303)	0
Abandonment of development pursuits		0	1,455
Cash flow hedge losses reclassified to earnings		4,334	4,557
Gain on sale of real estate assets		(146,745)	(229,200)
(Increase) decrease in cash in operating escrows		(8,409)	771
Decrease (increase) in resident security deposits, prepaid expenses and other assets		2,986	(12,808)
Increase in accrued expenses, other liabilities and accrued interest payable		33,072	1,086
Net cash provided by operating activities		794,272	641,429
Cash flows from investing activities:
Development/redevelopment of real estate assets including land acquisitions and deferred development costs		(1,265,829)	(861,466)
Capital expenditures - existing real estate assets		(40,358)	(33,324)
Capital expenditures - non-real estate assets		(4,887)	(5,776)
Proceeds from sale of real estate, net of selling costs		232,415	186,651
Insurance recoveries for property damage claims		44,142	0
Mortgage note receivable payment		0	21,748
Increase in payables for construction		1,010	3,463
Distributions from unconsolidated real estate entities		47,873	197,463
Investments in unconsolidated real estate entities		(881)	(5,254)
Net cash used in investing activities		(986,515)	(496,495)
Cash flows from financing activities:
Issuance of common stock		674,631	340,091
Dividends paid		(484,251)	(440,632)
Issuance of mortgage notes payable		0	53,000
Repayments of mortgage notes payable, including prepayment penalties		(743,653)	(28,718)
Issuance of unsecured notes		574,066	250,000
Repayment of unsecured notes		0	(150,000)
Payment of deferred financing costs		(4,741)	(3,414)
Distributions to DownREIT partnership unitholders		(28)	(26)
Distributions to joint venture and profit-sharing partners		(274)	(262)
Redemption of preferred interest obligation		(14,410)	(6,300)
Net cash provided by financing activities		1,340	13,739
Net (decrease) increase in cash and cash equivalents		(190,903)	158,673
Cash and cash equivalents, beginning of period		509,460	281,355
Cash and cash equivalents, end of period		318,557	440,028
Cash paid during the period for interest, net of amount capitalized		$ 149,097	$ 154,653

[1] Includes amounts associated with assets sold or held for sale, not classified as discontinued operations.