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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 $ 338,875 $ 338,723
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation expense 354,160 324,749
Amortization of deferred financing costs 3,720 3,565
Amortization of debt discount 833 789
Loss on extinguishment of debt, net 9,438 509
Amortization of stock-based compensation 11,870 13,719
Equity in loss of, and return on, unconsolidated real estate entities and noncontrolling interests, net of eliminations 3,705 10,131
Abandonment of development pursuits 2,095 1,285
Cash flow hedge losses reclassified to earnings 4,250 3,079
Gain on sale of real estate assets (59,930) (35,665)
Gain on for-sale condominiums (7,446) 0
Increase in resident security deposits, prepaid expenses and other assets (13,595) (24,241)
(Decrease) increase in accrued expenses, other liabilities and accrued interest payable (19,058) 1,089
Net cash provided by operating activities 628,917 637,732
Cash flows from investing activities:    
Development/redevelopment of real estate assets including land acquisitions and deferred development costs (383,139) (560,385)
Acquisition of real estate assets, including partnership interest 0 (152,260)
Capital expenditures - existing real estate assets (51,858) (48,006)
Capital expenditures - non-real estate assets (14,461) (4,222)
Mortgage note receivable payments (11,547) 7,562
(Decrease) increase in payables for construction 132,882 168,034
Proceeds from the sale of for-sale condominiums, net of selling costs 155,217 0
Mortgage note receivable lending (209) (507)
Mortgage note receivable payments 2,238 978
Investments in unconsolidated real estate entities (14,251) (1,218)
Net cash used in investing activities (185,128) (590,024)
Cash flows from financing activities:    
Issuance of common stock, net 1,613 206,193
Dividends paid (437,326) (415,295)
Issuance of mortgage notes payable 51,000 0
Repayments of mortgage notes payable, including prepayment penalties (56,852) (137,653)
Issuance of unsecured notes 1,296,581 449,803
Repayments of Unsecured Debt (958,680) 0
Payment of deferred financing costs (11,276) (10,668)
Payment for termination of forward interest rate swaps (25,135) (12,309)
Payments to Noncontrolling Interests (42)  
Proceeds from Noncontrolling Interests   337
Payments related to tax withholding for share-based compensation (14,750) (14,286)
Distributions to DownREIT partnership unitholders (24) (23)
Distributions to joint venture and profit-sharing partners (218) (227)
Preferred interest obligation redemption and dividends (600) (1,400)
Net cash (used in) provided by financing activities (155,709) 64,472
Net increase in cash and cash equivalents 288,080 112,180
Cash and cash equivalents and restricted cash, beginning of period 127,614 217,864
Cash and cash equivalents and restricted cash, end of period 415,694 330,044
Cash paid during the period for interest, net of amount capitalized 103,328 88,948
Supplemental Cash Flow Information [Abstract]    
Cash, cash equivalents and restricted cash reported in the Condensed Consolidated Statements of Cash Flows $ 415,694 $ 330,044