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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities:      
Net income $ 133,549 $ 99,717 $ 131,319
Operating distributions received from unconsolidated joint ventures 11 579 774
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 119,288 127,733 134,503
Amortization of debt issuance costs 1,588 1,702 1,768
Loss on settlement of forward starting interest rate swaps 0 0 (1,284)
Other amortization 73,944 74,373 61,221
Impairment loss on real estate assets 46,461 33,901 43,301
Stock compensation expense 9,196 7,928 8,789
Equity in income of unconsolidated joint ventures (3,845) (362) (553)
Gain on sale of real estate assets, net (115,874) (93,410) (129,683)
Changes in assets and liabilities:      
Increase in tenant and straight-line rent receivables, net (21,392) (26,747) (29,478)
Decrease/(increase) in prepaid expenses and other assets 384 1,437 (1,440)
Increase/(decrease) in accounts payable and accrued expenses (1,521) 3,555 (162)
Increase in deferred income 1,016 1,441 4,613
Net cash provided by operating activities 242,805 231,847 223,688
Cash Flows from Investing Activities:      
Acquisition of real estate assets and intangibles (35,262) (349,668) (387,923)
Capitalized expenditures, net of accruals (79,831) (110,228) (118,671)
Redemption of noncontrolling interest in unconsolidated variable interest entity 0 0 (4,000)
Net sale proceeds from wholly-owned properties 375,518 365,918 848,169
Net sale proceeds received from unconsolidated joint ventures 12,334 0 0
Investments in unconsolidated joint ventures (1,162) 0 0
Deferred lease costs paid (30,985) (25,896) (37,683)
Net cash provided by/(used in) investing activities 240,612 (119,874) 299,892
Cash Flows from Financing Activities:      
Debt issuance costs paid (132) (264) (1,081)
Proceeds from debt 180,000 695,000 1,301,858
Repayments of debt (476,401) (706,875) (1,544,301)
Costs of issuance of common stock (182) (342) (326)
Shares withheld to pay tax obligations related to employee stock compensation (3,403) (2,344) (1,710)
Repurchases of common stock as part of announced plan (60,474) (7,943) (158,860)
Dividends paid and discount on dividend reinvestments (122,274) (91,616) (126,531)
Net cash used in financing activities (482,866) (114,384) (530,951)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 551 (2,411) (7,371)
Cash, cash equivalents, and restricted cash and escrows, beginning of year 8,204 10,615 17,986
Cash, cash equivalents, and restricted cash and escrows, end of year $ 8,755 $ 8,204 $ 10,615