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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ (24,783) $ 91,493  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 89,295 97,194  
Amortization of deferred loan costs and debt premiums 2,619 2,921  
(Accretion) and amortization of above and below market lease intangibles, net (12,460) (13,090)  
Stock-based compensation, net of capitalization 3,320 3,475  
Equity in income of investments in real estate partnerships (11,418) (30,828)  
Gain on sale of real estate, net of tax (38,005) (16,490)  
Provision for impairment of real estate, net of tax 784 1,672  
Goodwill impairment 132,128 0  
Early extinguishment of debt 0 10,591  
Distribution of earnings from investments in real estate partnerships 16,440 14,417  
Settlement of derivative instruments 0 (5,719)  
Deferred compensation expense (4,328) 2,314  
Realized and unrealized gain on investments 4,923 (2,354)  
Changes in assets and liabilities:      
Tenant and other receivables 18,569 9,050  
Deferred leasing costs (1,352) (2,491)  
Other assets (12,201) (11,212)  
Accounts payable and other liabilities (27,498) (8,908)  
Tenants’ security, escrow deposits and prepaid rent (10,355) (10,671)  
Net cash provided by operating activities 125,678 131,364  
Cash flows from investing activities:      
Acquisition of operating real estate (16,867) (15,722)  
Advance deposits refunded (paid) on acquisition of operating real estate 100 (1,250)  
Real estate development and capital improvements (56,309) (39,929)  
Proceeds from sale of real estate investments 103,522 82,533  
Issuance of notes receivable (167) 0  
Investments in real estate partnerships (32,972) (19,587)  
Return of capital from investments in real estate partnerships 0 41,587  
Dividends on investment securities 84 116  
Acquisition of investment securities (4,392) (5,359)  
Proceeds from sale of investment securities 4,448 4,612  
Net cash (used in) provided by investing activities (2,553) 47,001  
Cash flows from financing activities:      
Net proceeds from common stock issuance 125,773 0  
Repurchase of common shares in conjunction with equity award plans (5,298) (6,148)  
Common shares repurchased through share repurchase program 0 (32,778)  
Proceeds from sale of treasury stock 49 8  
Distributions to limited partners in consolidated partnerships, net (1,064) (1,485)  
Distributions to exchangeable operating partnership unit holders (455) (204)  
Dividends paid to common stockholders (99,409) (97,608)  
Repayment of fixed rate unsecured notes 0 (250,000)  
Proceeds from issuance of fixed rate unsecured notes, net 0 298,983  
Proceeds from unsecured credit facilities 610,000 110,000  
Repayment of unsecured credit facilities (125,000) (145,000)  
Repayment of notes payable (3,891) (40,315)  
Scheduled principal payments (2,547) (2,235)  
Payment of loan costs 0 (3,342)  
Early redemption costs 0 (10,647)  
Net cash provided by (used in) financing activities 498,158 (180,771)  
Net increase (decrease) in cash and cash equivalents and restricted cash 621,283 (2,406)  
Cash and cash equivalents and restricted cash at beginning of the period 115,562 45,190 $ 45,190
Cash and cash equivalents and restricted cash at end of the period 736,845 42,784 115,562
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of capitalized interest of $1,175 and $1,015 in 2020 and 2019, respectively) 47,912 42,421  
Cash paid for income taxes, net of refunds 317 15  
Supplemental disclosure of non-cash transactions:      
Acquisition of real estate previously held within Investments in real estate partnerships 5,986    
Mortgage loan assumed with the acquisition of real estate 16,359    
Exchangeable operating partnership units issued for acquisition of real estate 1,275    
Change in accrued capital expenditures 4,942 10,494  
Common stock issued under dividend reinvestment plan 379 383  
Stock-based compensation capitalized 554 573  
Contributions from limited partners in consolidated partnerships, net   881  
Common stock issued for dividend reinvestment in trust 265 238  
Contribution of stock awards into trust 862 1,328  
Distribution of stock held in trust 390 167  
Change in fair value of securities 577 174  
Partnership Interest [Member]      
Cash flows from operating activities:      
Net (loss) income (24,783) 91,493  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 89,295 97,194  
Amortization of deferred loan costs and debt premiums 2,619 2,921  
(Accretion) and amortization of above and below market lease intangibles, net (12,460) (13,090)  
Stock-based compensation, net of capitalization 3,320 3,475  
Equity in income of investments in real estate partnerships (11,418) (30,828)  
Gain on sale of real estate, net of tax (38,005) (16,490)  
Provision for impairment of real estate, net of tax 784 1,672  
Goodwill impairment 132,128 0  
Early extinguishment of debt 0 10,591  
Distribution of earnings from investments in real estate partnerships 16,440 14,417  
Settlement of derivative instruments 0 (5,719)  
Deferred compensation expense (4,328) 2,314  
Realized and unrealized gain on investments 4,923 (2,354)  
Changes in assets and liabilities:      
Tenant and other receivables 18,569 9,050  
Deferred leasing costs (1,352) (2,491)  
Other assets (12,201) (11,212)  
Accounts payable and other liabilities (27,498) (8,908)  
Tenants’ security, escrow deposits and prepaid rent (10,355) (10,671)  
Net cash provided by operating activities 125,678 131,364  
Cash flows from investing activities:      
Acquisition of operating real estate (16,867) (15,722)  
Advance deposits refunded (paid) on acquisition of operating real estate 100 (1,250)  
Real estate development and capital improvements (56,309) (39,929)  
Proceeds from sale of real estate investments 103,522 82,533  
Issuance of notes receivable (167) 0  
Investments in real estate partnerships (32,972) (19,587)  
Return of capital from investments in real estate partnerships 0 41,587  
Dividends on investment securities 84 116  
Acquisition of investment securities (4,392) (5,359)  
Proceeds from sale of investment securities 4,448 4,612  
Net cash (used in) provided by investing activities (2,553) 47,001  
Cash flows from financing activities:      
Net proceeds from common stock issuance 125,773 0  
Repurchase of common shares in conjunction with equity award plans (5,298) (6,148)  
Common shares repurchased through share repurchase program 0 (32,778)  
Proceeds from sale of treasury stock 49 8  
Distributions to limited partners in consolidated partnerships, net (1,064) (1,485)  
Dividends paid to common stockholders (99,864) (97,812)  
Repayment of fixed rate unsecured notes 0 (250,000)  
Proceeds from issuance of fixed rate unsecured notes, net 0 298,983  
Proceeds from unsecured credit facilities 610,000 110,000  
Repayment of unsecured credit facilities (125,000) (145,000)  
Repayment of notes payable (3,891) (40,315)  
Scheduled principal payments (2,547) (2,235)  
Payment of loan costs 0 (3,342)  
Early redemption costs 0 (10,647)  
Net cash provided by (used in) financing activities 498,158 (180,771)  
Net increase (decrease) in cash and cash equivalents and restricted cash 621,283 (2,406)  
Cash and cash equivalents and restricted cash at beginning of the period 115,562 45,190 45,190
Cash and cash equivalents and restricted cash at end of the period 736,845 42,784 $ 115,562
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of capitalized interest of $1,175 and $1,015 in 2020 and 2019, respectively) 47,912 42,421  
Cash paid for income taxes, net of refunds 317 15  
Supplemental disclosure of non-cash transactions:      
Acquisition of real estate previously held within Investments in real estate partnerships 5,986    
Mortgage loan assumed with the acquisition of real estate 16,359    
Exchangeable operating partnership units issued for acquisition of real estate 1,275    
Change in accrued capital expenditures 4,942 10,494  
Common stock issued under dividend reinvestment plan 379 383  
Stock-based compensation capitalized 554 573  
Contributions from limited partners in consolidated partnerships, net   881  
Common stock issued for dividend reinvestment in trust 265 238  
Contribution of stock awards into trust 862 1,328  
Distribution of stock held in trust 390 167  
Change in fair value of securities $ 577 $ 174