XML 23 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 322,842 $ 1,464,175
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 190,460 179,918
Amortization of deferred leasing and other costs 41,756 42,996
Amortization of deferred financing costs 4,303 4,049
Straight-line rental income and expense, net (16,763) (12,021)
Impairment charges 0 4,481
Loss on debt extinguishment 240 26,104
Gains on land and depreciated property sales (205,119) (1,331,058)
Third-party construction contracts, net (5,088) 2,679
Other accrued revenues and expenses, net 43,627 25,848
Equity in earnings (in excess of) or less than operating distributions received from unconsolidated joint ventures (4,609) (45,298)
Net cash provided by operating activities 371,649 361,873
Cash flows from investing activities:    
Development of real estate investments (459,513) (421,702)
Acquisition of real estate investments and related intangible assets (208,914) (620,869)
Acquisition of undeveloped land (194,171) (127,662)
Second generation tenant improvements, leasing costs and building improvements (34,311) (34,350)
Other deferred leasing costs (27,691) (22,399)
Other assets (5,929) (4,886)
Proceeds from Collection of Notes Receivable 149,913 3,628
Proceeds from land and depreciated property sales, net 434,584 2,283,917
Capital distributions from unconsolidated joint ventures 19,176 111,635
Capital contributions and advances to unconsolidated joint ventures (2,728) (6,303)
Net cash (used for) provided by investing activities (329,584) 1,161,009
Cash flows from financing activities:    
Proceeds from issuance of common shares, net 30,591 7,309
Proceeds from Issuance of Unsecured Debt 450,000  
Payments on unsecured debt (1,998) (691,492)
Payments on secured indebtedness including principal amortization (231,070) (71,154)
Repayments on line of credit, net 0 (43,000)
Distributions to common shareholders/unitholders (214,463) (202,770)
Distributions to noncontrolling Interest (1,746) (8,407)
Tax payments on stock-based compensation awards (8,389) (14,868)
Change in book cash overdrafts 22,669 11,245
Deferred financing costs (8,485) (16)
Redemption of Limited Partner Units 0 (457)
Net cash provided by (used for) financing activities 37,109 (1,013,610)
Net increase in cash, cash equivalents and restricted cash 79,174 509,272
Cash, cash equivalents and restricted cash at beginning of period 193,627 57,038
Cash, cash equivalents and restricted cash at end of period 272,801 566,310
Noncash investing and financing activities:    
Carrying amounts of pre-existing ownership interest in acquired property 5,034 0
Non-Cash Property Contribution from Noncontrolling Interest - NonCash Disclosure 3,200 0
Notes receivable from buyers in property sales 0 404,846
Conversion of Limited Partner Units to common shares 1,967 1,714
Duke Realty Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 322,842 1,464,175
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 190,460 179,918
Amortization of deferred leasing and other costs 41,756 42,996
Amortization of deferred financing costs 4,303 4,049
Straight-line rental income and expense, net (16,763) (12,021)
Impairment charges 0 4,481
Loss on debt extinguishment 240 26,104
Gains on land and depreciated property sales (205,119) (1,331,058)
Third-party construction contracts, net (5,088) 2,679
Other accrued revenues and expenses, net 43,627 25,848
Equity in earnings (in excess of) or less than operating distributions received from unconsolidated joint ventures (4,609) (45,298)
Net cash provided by operating activities 371,649 361,873
Cash flows from investing activities:    
Development of real estate investments (459,513) (421,702)
Acquisition of real estate investments and related intangible assets (208,914) (620,869)
Acquisition of undeveloped land (194,171) (127,662)
Second generation tenant improvements, leasing costs and building improvements (34,311) (34,350)
Other deferred leasing costs (27,691) (22,399)
Other assets (5,929) (4,886)
Proceeds from Collection of Notes Receivable 149,913 3,628
Proceeds from land and depreciated property sales, net 434,584 2,283,917
Capital distributions from unconsolidated joint ventures 19,176 111,635
Capital contributions and advances to unconsolidated joint ventures (2,728) (6,303)
Net cash (used for) provided by investing activities (329,584) 1,161,009
Cash flows from financing activities:    
Contributions from the General Partner 30,591 7,309
Proceeds from Issuance of Unsecured Debt 450,000 0
Payments on unsecured debt (1,998) (691,492)
Payments on secured indebtedness including principal amortization (231,070) (71,154)
Repayments on line of credit, net 0 (43,000)
Distributions to common shareholders/unitholders (216,484) (204,654)
Distributions to noncontrolling Interest 275 (6,523)
Tax payments on stock-based compensation awards (8,389) (14,868)
Change in book cash overdrafts 22,669 11,245
Deferred financing costs (8,485) (16)
Redemption of Limited Partner Units 0 (457)
Net cash provided by (used for) financing activities 37,109 (1,013,610)
Net increase in cash, cash equivalents and restricted cash 79,174 509,272
Cash, cash equivalents and restricted cash at beginning of period 193,627 57,038
Cash, cash equivalents and restricted cash at end of period 272,801 566,310
Noncash investing and financing activities:    
Carrying amounts of pre-existing ownership interest in acquired property 5,034 0
Non-Cash Property Contribution from Noncontrolling Interest - NonCash Disclosure 3,200 0
Notes receivable from buyers in property sales 0 404,846
Conversion of Limited Partner Units to common shares $ 1,967 $ 1,714