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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 89,009 $ 72,726
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of real estate assets and leasing costs 131,982 124,633
Depreciation of non-real estate furniture, fixtures and equipment 2,405 2,088
(Recoveries of) provision for bad debts and write-offs (Note 1) (3,091) 5,376
Non-cash amortization of share-based compensation awards 14,082 12,267
Non-cash amortization of deferred financing costs and debt discounts and premiums 717 582
Non-cash amortization of net below market rents (4,415) (5,481)
Gain on sale of depreciable operating properties (Note 2) (7,169) 0
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (8,181) (8,869)
Straight-line rents (29,937) (10,566)
Amortization of right of use ground lease assets 291  
Net change in other operating assets (15,540) (5,513)
Net change in other operating liabilities (4,493) 1,600
Net cash provided by operating activities 165,660 188,843
CASH FLOWS FROM INVESTING ACTIVITIES:    
Expenditures for development properties and undeveloped land (372,750) (204,039)
Expenditures for operating properties (61,557) (74,079)
Net proceeds received from dispositions (Note 2) 17,271 0
Expenditures for acquisition of operating properties 0 (111,029)
Expenditures for acquisition of undeveloped land 0 (311,299)
Net decrease in acquisition-related deposits 0 21,000
Proceeds received from repayment of note receivable 0 15,100
Net cash used in investing activities (417,036) (664,346)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on unsecured revolving credit facility (Note 4) 425,000 505,000
Repayments on unsecured revolving credit facility (Notes 4 and 16) (95,000) (180,000)
Borrowings on unsecured debt 0 120,000
Principal payments and repayments of secured debt (Note 4) (75,384) (1,768)
Financing costs (1,335) (1,840)
Net proceeds from issuance of common stock 0 124,147
Repurchase of common stock and restricted stock units (12,618) (13,642)
Proceeds from exercise of stock options 64 41
Distributions to noncontrolling interests in consolidated property partnerships (7,812) (6,485)
Dividends and distributions paid to common stockholders and common unitholders (93,858) (85,931)
Net cash provided by financing activities 139,057 459,522
Net decrease in cash and cash equivalents and restricted cash (112,319) (15,981)
Cash and cash equivalents and restricted cash, beginning of period 171,034 66,798
Cash and cash equivalents and restricted cash, end of period $ 58,715 $ 50,817