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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:              
Net income   $ 78,847   $ 147,717 $ 669,058 $ 486,592  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation expense   193,791   175,348 561,560 529,508  
Amortization of deferred financing costs         5,519 5,617  
Amortization of debt discount         1,998 1,321  
Loss on extinguishment of debt, net   (17,890)   105 (17,768) (9,333)  
Amortization of stock-based compensation         20,660 17,753  
Equity in loss of, and return on, unconsolidated real estate entities and noncontrolling interests, net of eliminations         4,290 5,204  
Real estate casualty loss         2,802 0  
Abandonment of development pursuits         685 2,095  
Unrealized gain on terminated cash flow hedges     $ (2,654)   (2,654) 0 $ 2,894
Cash flow hedge losses reclassified to earnings         6,874 6,617  
Gain on sale of real estate assets         (413,661) (96,823)  
Gain on for-sale condominiums         (2,051) (8,174)  
Increase in resident security deposits, prepaid expenses and other assets         (20,555) (36,332)  
Increase in accrued expenses, other liabilities and accrued interest payable         59,449 39,363  
Net cash provided by operating activities         911,742 962,074  
Cash flows from investing activities:              
Development/redevelopment of real estate assets including land acquisitions and deferred development costs         (476,307) (562,334)  
Acquisition of real estate assets, including partnership interest         (392,746) 0  
Capital expenditures - existing real estate assets         (105,621) (76,860)  
Capital expenditures - non-real estate assets         (4,689) (24,720)  
Decrease in payables for construction         (35,639) (4,095)  
Proceeds from sale of real estate, net of selling costs         576,973 186,090  
Proceeds from the sale of for-sale condominiums, net of selling costs         98,752 170,604  
Mortgage note receivable lending         (118) (260)  
Mortgage note receivable payments         1,556 3,419  
Distributions from unconsolidated real estate entities         62,157 9,877  
Investments in unconsolidated real estate entities         (40,071) (23,044)  
Net cash used in investing activities         (315,753) (321,323)  
Cash flows from financing activities:              
Issuance of common stock, net         7,011 1,599  
Repurchase of common stock, net         0 (137,458)  
Dividends paid         (666,420) (661,000)  
Issuance of mortgage notes payable         0 51,000  
Repayments of mortgage notes payable, including prepayment penalties         (35,688) (125,427)  
Issuance of unsecured notes         699,167 1,296,581  
Repayment of unsecured notes, including prepayment penalties         (462,147) (958,681)  
Payment of deferred financing costs         (5,281) (11,278)  
Receipt (payment) for termination of forward interest rate swaps $ (2,211)   6,962   4,751 (25,135)  
Payment to noncontrolling interest         (45) (59)  
Payments related to tax withholding for share-based compensation         (13,409) (14,752)  
Distributions to DownREIT partnership unitholders         (36) (36)  
Distributions to joint venture and profit-sharing partners         (234) (319)  
Preferred interest obligation redemption and dividends         (1,340) (1,000)  
Net cash used in financing activities         (473,671) (585,965)  
Net increase in cash, cash equivalents and cash in escrow         122,318 54,786  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance     $ 313,532   313,532 127,614 127,614
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 435,850 435,850   182,400 435,850 182,400 313,532
Cash paid during the period for interest, net of amount capitalized         127,575 133,913  
Supplemental Cash Flow Information [Abstract]              
Cash and cash equivalents 322,294 322,294   87,530 322,294 87,530 216,976
Cash in escrow 113,556 113,556   94,870 113,556 94,870 96,556
Cash, cash equivalents and cash in escrow reported in the Condensed Consolidated Statements of Cash Flows $ 435,850 $ 435,850   $ 182,400 $ 435,850 $ 182,400 $ 313,532