XML 49 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 26,510 $ 64,966
Depreciation and amortization expense:    
Continuing operations 8,034 6,921
Discontinued operations   577
Impairment charges 6,583 7,717
Gains on dispositions of real estate:    
Continuing operations (1,389)  
Discontinued operations (7,127) (39,581)
Deferred rent receivable, net of allowance (3,712) (5,117)
Bad debt expense (recoveries) 840 (21,006)
Other 3,382 4,391
Changes in assets and liabilities:    
Accounts receivable (338) 22,184
Prepaid expenses and other assets 3,566 102
Environmental remediation obligations (9,953) (10,358)
Accounts payable and accrued liabilities (3,995) 8,005
Net cash flow provided by operating activities 22,401 38,801
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property acquisitions and capital expenditures (6,437) (67,086)
Investment in direct financing leases   (6,267)
Proceeds from dispositions of real estate:    
Continuing operations 4,380  
Discontinued operations 12,705 51,276
Change in cash held for property acquisitions 12,956 (6,880)
Change in restricted cash 537  
Issuance of notes and mortgages receivables   (4,138)
Collection of notes and mortgages receivable 1,743 10,803
Amortization of investment in direct financing leases 1,004 735
Net cash flow provided by (used in) investing activitie 26,888 (21,557)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under credit line 3,000 129,400
Repayments under credit line (34,000) (216,190)
Borrowings under term loan   100,000
Repayments under term loan   (22,030)
Payments of cash dividends (21,925) (17,680)
Payments of loan origination costs   (2,842)
Other (3) (108)
Net cash flow used in financing activities (52,928) (29,450)
Change in cash and cash equivalents (3,639) (12,206)
Cash and cash equivalents at beginning of period 12,035 16,876
Cash and cash equivalents at end of period 8,396 4,670
Supplemental disclosures of cash flow information Cash paid during the period for:    
Interest 6,686 7,192
Income taxes 370 450
Environmental remediation obligations 9,366 9,329
Non-cash transactions:    
Issuance of mortgages receivable related to property dispositions 5,851 4,923
Mortgage payable, net related to property acquisition $ 390