Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

NOTE 13. SUPPLEMENTAL CASH FLOW INFORMATION

Our significant noncash investing and financing activities for the three months ended March 31, 2020 and 2019 included the following:

• We completed the Liberty Transaction on February 4, 2020 for $13.0 billion through the issuance of equity and the assumption of debt. See Note 2 for more information on this transaction.

• We recognized Lease Right-of-Use Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases, renewals, modifications and terminations after January 1, 2020 of $3.8 million each, and $393.0 million and $400.3 million, respectively, after January 1, 2019 related to leases in which we are the lessee. Amounts in 2019 are due to our adoption of the new lease standard on January 1, 2019.

• We capitalized $8.3 million and $7.5 million in 2020 and 2019, respectively, of equity-based compensation expense.  

• We received $57.1 million and $177.2 million in 2020 and 2019, respectively, of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities, as disclosed in Note 4. Included in 2019 was our initial 20.0% investment in PBLV in exchange for our contribution of the initial portfolio of properties to PBLV upon formation.

• We issued 0.1 million and 0.4 million shares in 2020 and 2019, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP.

We paid $110.5 million and $95.4 million for interest, net of amounts capitalized, for the three months ended March 31, 2020 and 2019, respectively.

We paid $21.7 million and $26.5 million for income taxes, net of refunds, for the three months ended March 31, 2020 and 2019, respectively.