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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 $ 98,488 $ 196,816
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 82,707 77,842
Amortization of deferred loan costs and debt premiums 1,490 1,379
(Accretion) and amortization of above and below market lease intangibles, net (5,478) (5,302)
Stock-based compensation, net of capitalization 4,810 4,164
Equity in income of investments in real estate partnerships (11,916) (12,804)
Gain on sale of real estate, net of tax (250) (101,948)
Distribution of earnings from investments in real estate partnerships 14,524 16,736
Deferred compensation expense (income) 1,448 (2,256)
Realized and unrealized (gain) loss on investments (1,674) 2,533
Changes in assets and liabilities:    
Tenant and other receivables 6,710 3,396
Deferred leasing costs (672) (2,014)
Other assets (12,631) (4,724)
Accounts payable and other liabilities (20,858) (29,387)
Tenants' security, escrow deposits and prepaid rent 5,401 (1,539)
Net cash provided by operating activities 162,099 142,892
Cash flows from investing activities:    
Acquisition of operating real estate   (30,166)
Real estate development and capital improvements (44,569) (53,605)
Proceeds from sale of real estate and FF&E 3,603 124,924
Investments in real estate partnerships (604) (7,173)
Return of capital from investments in real estate partnerships   23,892
Dividends on investment securities 187 109
Acquisition of investment securities (2,171) (5,554)
Proceeds from sale of investment securities 4,504 5,927
Net cash (used in) provided by investing activities (39,050) 58,354
Cash flows from financing activities:    
Repurchase of common shares in conjunction with equity award plans (7,066) (6,246)
Common shares repurchased through share repurchase program (20,006)  
Proceeds from sale of treasury stock 2 63
Contributions from (distributions to) limited partners in consolidated partnerships, net 738 (1,070)
Distributions to exchangeable operating partnership unit holders (482) (475)
Dividends paid to common stockholders (111,085) (106,887)
Proceeds from unsecured credit facilities 115,000 40,000
Repayment of unsecured credit facilities (85,000) (40,000)
Proceeds from notes payable 15,500  
Repayment of notes payable (28,306)  
Scheduled principal payments (2,836) (2,846)
Payment of loan costs (141) (82)
Net cash used in financing activities (123,682) (117,543)
Net (decrease) increase in cash and cash equivalents and restricted cash (633) 83,703
Cash and cash equivalents and restricted cash at beginning of the period 68,776 95,027
Cash and cash equivalents and restricted cash at end of the period 68,143 178,730
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $1,250 and $796 in 2023 and 2022, respectively) 44,107 44,317
Cash paid for income taxes, net of refunds 112 165
Supplemental disclosure of non-cash transactions:    
Common stock and exchangeable operating partnership dividends declared but not paid 111,829 107,445
Change in accrued capital expenditures 10,596 11,603
Common stock issued under dividend reinvestment plan 142 118
Stock-based compensation capitalized 155 199
Common stock issued for dividend reinvestment in trust 303 267
Contribution of stock awards into trust 1,201 1,177
Distribution of stock held in trust 265 329
Change in fair value of securities 243 754
Partnership Interest [Member]    
Cash flows from operating activities:    
Net income 98,488 196,816
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 82,707 77,842
Amortization of deferred loan costs and debt premiums 1,490 1,379
(Accretion) and amortization of above and below market lease intangibles, net (5,478) (5,302)
Stock-based compensation, net of capitalization 4,810 4,164
Equity in income of investments in real estate partnerships (11,916) (12,804)
Gain on sale of real estate, net of tax (250) (101,948)
Distribution of earnings from investments in real estate partnerships 14,524 16,736
Deferred compensation expense (income) 1,448 (2,256)
Realized and unrealized (gain) loss on investments (1,674) 2,533
Changes in assets and liabilities:    
Tenant and other receivables 6,710 3,396
Deferred leasing costs (672) (2,014)
Other assets (12,631) (4,724)
Accounts payable and other liabilities (20,858) (29,387)
Tenants' security, escrow deposits and prepaid rent 5,401 (1,539)
Net cash provided by operating activities 162,099 142,892
Cash flows from investing activities:    
Acquisition of operating real estate   (30,166)
Real estate development and capital improvements (44,569) (53,605)
Proceeds from sale of real estate and FF&E 3,603 124,924
Investments in real estate partnerships (604) (7,173)
Return of capital from investments in real estate partnerships   23,892
Dividends on investment securities 187 109
Acquisition of investment securities (2,171) (5,554)
Proceeds from sale of investment securities 4,504 5,927
Net cash (used in) provided by investing activities (39,050) 58,354
Cash flows from financing activities:    
Repurchase of common shares in conjunction with equity award plans (7,066) (6,246)
Common shares repurchased through share repurchase program (20,006)  
Proceeds from sale of treasury stock 2 63
Contributions from (distributions to) limited partners in consolidated partnerships, net 738 (1,070)
Dividends paid to common stockholders (111,567) (107,362)
Proceeds from unsecured credit facilities 115,000 40,000
Repayment of unsecured credit facilities (85,000) (40,000)
Proceeds from notes payable 15,500  
Repayment of notes payable (28,306)  
Scheduled principal payments (2,836) (2,846)
Payment of loan costs (141) (82)
Net cash used in financing activities (123,682) (117,543)
Net (decrease) increase in cash and cash equivalents and restricted cash (633) 83,703
Cash and cash equivalents and restricted cash at beginning of the period 68,776 95,027
Cash and cash equivalents and restricted cash at end of the period 68,143 178,730
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $1,250 and $796 in 2023 and 2022, respectively) 44,107 44,317
Cash paid for income taxes, net of refunds 112 165
Supplemental disclosure of non-cash transactions:    
Common stock and exchangeable operating partnership dividends declared but not paid 111,829 107,445
Change in accrued capital expenditures 10,596 11,603
Common stock issued under dividend reinvestment plan 142 118
Stock-based compensation capitalized 155 199
Common stock issued for dividend reinvestment in trust 303 267
Contribution of stock awards into trust 1,201 1,177
Distribution of stock held in trust 265 329
Change in fair value of securities $ 243 $ 754