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EPT - Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 360,359 $ 238,765
Adjustments to reconcile net income to net cash provided by operating activities:    
Straight-lined rents 1,650 5,529
Depreciation and amortization 410,422 403,561
Amortization of discount and debt financing costs, net 5,028 4,916
Realized and unrealized (gains) losses on marketable securities, net (4,294) 51,126
Provision for credit losses 51 64
Earnings from co-investments (33,802) (23,756)
Operating distributions from co-investments 48,229 86,854
Accrued interest from notes and other receivables (8,919) (10,748)
Casualty loss 433 0
Gain on the sale of real estate and land (59,238) 0
Equity-based compensation 5,943 6,589
Loss on early retirement of debt, net 0 2
Gain on remeasurement of co-investment 0 (17,423)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 3,024 15,406
Accounts payable, accrued liabilities, and operating lease liabilities 44,971 38,948
Other liabilities 2,533 8,902
Net cash provided by operating activities 776,390 808,735
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (23,845) (21,759)
Redevelopment (56,168) (67,974)
Development acquisitions of and additions to real estate under development (6,317) (22,754)
Capital expenditures on rental properties (94,304) (107,105)
Investments in notes receivable (52,888) (160,013)
Collections of notes and other receivables 0 303,088
Proceeds from insurance for property losses 2,991 4,325
Proceeds from dispositions of real estate 99,388 0
Contributions to co-investments (32,169) (159,461)
Changes in refundable deposits 10,200 (16,318)
Purchases of marketable securities (11,552) (12,760)
Sales and maturities of marketable securities 46,989 30,025
Non-operating distributions from co-investments 15,251 161,324
Net cash used in investing activities (102,424) (69,382)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 598,000 0
Payments on unsecured debt and mortgage notes (301,678) (24,103)
Proceeds from lines of credit 844,021 1,053,663
Repayments of lines of credit (896,094) (1,175,440)
Retirement of common stock (95,657) (157,951)
Additions to deferred charges (1,681) (140)
Net costs from issuance of common stock (231) (314)
Net proceeds from stock options exercised 0 19,410
Payments related to tax withholding for share-based compensation 0 (2,216)
Contributions from noncontrolling interest 0 125
Distributions to noncontrolling interest (23,532) (22,606)
Redemption of noncontrolling interest (609) (10,929)
Redemption of redeemable noncontrolling interest 0 (478)
Common stock dividends paid (438,689) (423,443)
Net cash used in financing activities (316,150) (744,422)
Net increase (decrease) in unrestricted and restricted cash and cash equivalents 357,816 (5,069)
Unrestricted and restricted cash and cash equivalents at beginning of period 42,681 58,638
Unrestricted and restricted cash and cash equivalents at end of period 400,497 53,569
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of $0.7 million and $1.9 million capitalized in 2023 and 2022, respectively) 159,758 149,970
Operating cash flows from operating leases 5,298 5,225
Supplemental disclosure of noncash investing and financing activities:    
Transfers between real estate under development and rental properties, net 827 98,024
Transfers from real estate under development to co-investments 1,322 2,090
Reclassifications to (from) redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 2,810 (4,950)
Debt assumed in connection with acquisition $ 0 $ 21,303