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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 65,230 $ 59,383
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of real estate assets and leasing costs 91,671 87,001
Depreciation of non-real estate furniture, fixtures and equipment 2,005 1,659
Revenue reversals (recoveries) for doubtful accounts, net (Note 5) 2,438 (1,311)
Non-cash amortization of share-based compensation awards 10,043 5,256
Non-cash amortization of deferred financing costs and debt discounts 1,355 821
Non-cash amortization of net below market rents (3,033) (2,892)
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (4,998) (4,261)
Straight-line rents (7,913) (13,847)
Amortization of right of use ground lease assets 253 356
Net change in other operating assets 2,849 2,657
Net change in other operating liabilities 22,236 43,837
Net cash provided by operating activities 182,136 178,659
CASH FLOWS FROM INVESTING ACTIVITIES:    
Expenditures for development and redevelopment properties and undeveloped land (100,457) (112,314)
Expenditures for operating properties and other capital assets (20,891) (17,027)
Expenditures for acquisitions of development properties and undeveloped land 0 (40,033)
Net cash used in investing activities (121,348) (169,374)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on unsecured debt (Note 2) 150,000 0
Financing costs (1,228) (318)
Repurchase of common stock and restricted stock units (8,363) (13,994)
Distributions to noncontrolling interests in consolidated property partnerships (7,060) (14,834)
Dividends and distributions paid to common stockholders and common unitholders (63,735) (61,161)
Principal payments and repayments of secured debt (1,423) (1,369)
Net cash provided by (used in) financing activities 68,191 (91,676)
Net increase (decrease) in cash and cash equivalents and restricted cash 128,979 (82,391)
Cash and cash equivalents and restricted cash, beginning of period 347,379 427,083
Cash and cash equivalents and restricted cash, end of period $ 476,358 $ 344,692