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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 186,660 $ 302,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 165,868 157,192
Amortization of deferred loan costs and debt premiums 2,983 2,821
(Accretion) and amortization of above and below market lease intangibles, net (13,842) (10,528)
Stock-based compensation, net of capitalization 8,854 8,501
Equity in income of investments in real estate partnerships (23,785) (36,646)
Gain on sale of real estate, net of tax (331) (106,239)
Distribution of earnings from investments in real estate partnerships 31,869 29,207
Deferred compensation expense (income) 2,940 (7,007)
Realized and unrealized (gain) loss on investments (3,376) 8,033
Changes in assets and liabilities:    
Tenant and other receivables (14,549) (8,252)
Deferred leasing costs (3,591) (4,263)
Other assets (17,951) (8,353)
Accounts payable and other liabilities 6,091 (172)
Tenants' security, escrow deposits and prepaid rent 6,837 660
Net cash provided by operating activities 334,677 327,757
Cash flows from investing activities:    
Acquisition of operating real estate, net of cash acquired of $3,061 in 2022   (139,775)
Real estate development and capital improvements (100,114) (99,470)
Proceeds from sale of real estate and FF&E 3,745 136,421
Issuance of notes receivable (4,000)  
Investments in real estate partnerships (3,109) (11,549)
Return of capital from investments in real estate partnerships 3,644 48,473
Dividends on investment securities 420 214
Acquisition of investment securities (2,748) (8,313)
Proceeds from sale of investment securities 10,751 8,737
Net cash used in investing activities (91,411) (65,262)
Cash flows from financing activities:    
Net proceeds from common stock issuance (10) 61,284
Repurchase of common shares in conjunction with equity award plans (7,621) (6,388)
Common shares repurchased through share repurchase program (20,006) (71,898)
Proceeds from sale of treasury stock 28 64
Contributions from limited partners in consolidated partnerships, net 1,225 1,234
Distributions to exchangeable operating partnership unit holders (964) (950)
Dividends paid to common stockholders (222,275) (213,868)
Proceeds from unsecured credit facilities 235,000 75,000
Repayment of unsecured credit facilities (235,000) (75,000)
Proceeds from notes payable 15,500  
Repayment of notes payable (29,616)  
Scheduled principal payments (5,054) (5,728)
Payment of loan costs (141) (82)
Net cash used in financing activities (268,934) (236,332)
Net (decrease) increase in cash and cash equivalents and restricted cash (25,668) 26,163
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 43,108 121,190
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $2,534 and $1,815 in 2023 and 2022, respectively) 71,091 70,876
Cash paid for income taxes, net of refunds 573 370
Supplemental disclosure of non-cash transactions:    
Common stock and exchangeable operating partnership dividends declared but not paid 111,847 108,215
Acquisition of real estate previously held within investments in real estate partnerships   17,179
Mortgage loans assumed by Company with the acquisition of real estate   22,779
Common stock issued for partnership units exchanged   1,275
Accrued common stock repurchase in Accounts payable and other liabilities   3,521
Issuance of exchangeable operating partnership units 20,000  
Change in accrued capital expenditures 9,011 5,050
Common stock issued under dividend reinvestment plan 299 252
Stock-based compensation capitalized 366 373
Contributions from limited partners in consolidated partnerships   5,436
Common stock issued for dividend reinvestment in trust 617 555
Contribution of stock awards into trust 1,844 2,022
Distribution of stock held in trust 2,245 566
Change in fair value of securities 98 1,236
Partnership Interest [Member]    
Cash flows from operating activities:    
Net income 186,660 302,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 165,868 157,192
Amortization of deferred loan costs and debt premiums 2,983 2,821
(Accretion) and amortization of above and below market lease intangibles, net (13,842) (10,528)
Stock-based compensation, net of capitalization 8,854 8,501
Equity in income of investments in real estate partnerships (23,785) (36,646)
Gain on sale of real estate, net of tax (331) (106,239)
Distribution of earnings from investments in real estate partnerships 31,869 29,207
Deferred compensation expense (income) 2,940 (7,007)
Realized and unrealized (gain) loss on investments (3,376) 8,033
Changes in assets and liabilities:    
Tenant and other receivables (14,549) (8,252)
Deferred leasing costs (3,591) (4,263)
Other assets (17,951) (8,353)
Accounts payable and other liabilities 6,091 (172)
Tenants' security, escrow deposits and prepaid rent 6,837 660
Net cash provided by operating activities 334,677 327,757
Cash flows from investing activities:    
Acquisition of operating real estate, net of cash acquired of $3,061 in 2022   (139,775)
Real estate development and capital improvements (100,114) (99,470)
Proceeds from sale of real estate and FF&E 3,745 136,421
Issuance of notes receivable (4,000)  
Investments in real estate partnerships (3,109) (11,549)
Return of capital from investments in real estate partnerships 3,644 48,473
Dividends on investment securities 420 214
Acquisition of investment securities (2,748) (8,313)
Proceeds from sale of investment securities 10,751 8,737
Net cash used in investing activities (91,411) (65,262)
Cash flows from financing activities:    
Net proceeds from common stock issuance (10) 61,284
Repurchase of common shares in conjunction with equity award plans (7,621) (6,388)
Common shares repurchased through share repurchase program (20,006) (71,898)
Proceeds from sale of treasury stock 28 64
Contributions from limited partners in consolidated partnerships, net 1,225 1,234
Dividends paid to common stockholders (223,239) (214,818)
Proceeds from unsecured credit facilities 235,000 75,000
Repayment of unsecured credit facilities (235,000) (75,000)
Proceeds from notes payable 15,500  
Repayment of notes payable (29,616)  
Scheduled principal payments (5,054) (5,728)
Payment of loan costs (141) (82)
Net cash used in financing activities (268,934) (236,332)
Net (decrease) increase in cash and cash equivalents and restricted cash (25,668) 26,163
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 43,108 121,190
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $2,534 and $1,815 in 2023 and 2022, respectively) 71,091 70,876
Cash paid for income taxes, net of refunds 573 370
Supplemental disclosure of non-cash transactions:    
Common stock and exchangeable operating partnership dividends declared but not paid 111,847 108,215
Acquisition of real estate previously held within investments in real estate partnerships   17,179
Mortgage loans assumed by Company with the acquisition of real estate   22,779
Common stock issued by Parent Company for partnership units exchanged   1,275
Accrued common stock repurchase in Accounts payable and other liabilities   3,521
Issuance of exchangeable operating partnership units 20,000  
Change in accrued capital expenditures 9,011 5,050
Common stock issued under dividend reinvestment plan 299 252
Stock-based compensation capitalized 366 373
Contributions from limited partners in consolidated partnerships   5,436
Common stock issued for dividend reinvestment in trust 617 555
Contribution of stock awards into trust 1,844 2,022
Distribution of stock held in trust 2,245 566
Change in fair value of securities $ 98 $ 1,236