XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net income/(loss) $ (1,364) $ 59,964
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation 35,797 31,515
Amortization of debt issuance costs inclusive of settled interest rate swaps 1,330 869
Other amortization 19,779 20,111
Reversal of general reserve for uncollectible accounts (400) 0
Stock compensation expense 1,762 2,814
Gain on sale of real estate assets 0 (50,673)
Changes in assets and liabilities:    
Increase in tenant and straight-line rent receivables (5,419) (3,712)
Increase in prepaid expenses and other assets (9,007) (947)
Decrease in accounts payable and accrued expenses (6,841) (19,066)
Increase/(decrease) in deferred income 4,761 (1,026)
Net cash provided by operating activities 40,398 39,849
Cash Flows from Investing Activities:    
Capitalized expenditures (36,184) (32,565)
Net sales proceeds from wholly-owned properties 0 143,594
Proceeds from notes receivable 0 118,500
Deferred lease costs paid (9,218) (5,235)
Net cash (used in)/provided by investing activities (45,402) 224,294
Cash Flows from Financing Activities:    
Debt issuance and other costs paid (515) (15)
Proceeds from debt 266,603 87,000
Repayments of debt (53,000) (296,000)
Value of shares withheld for payment of taxes related to employee stock compensation (1,579) (3,366)
Dividends paid (51,329) (51,954)
Net cash provided by/(used in) financing activities 160,180 (264,335)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 155,176 (192)
Cash, cash equivalents, and restricted cash and escrows, beginning of period 19,600 8,860
Cash, cash equivalents, and restricted cash and escrows, end of period $ 174,776 $ 8,668