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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:          
Net income (loss) $ 96,832 $ 19,574 $ 178,457 $ (5,209)  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     151,476 174,353  
Amortization of deferred loan costs and debt premiums     3,479 5,237  
(Accretion) and amortization of above and below market lease intangibles, net     (11,174) (22,456)  
Stock-based compensation, net of capitalization     5,894 7,217  
Equity in income of investments in real estate partnerships (435) (2,824) (12,101) (14,242)  
Gain on sale of real estate, net of tax     (31,479) (45,453)  
Provision for impairment of real estate 135 230 135 1,014  
Goodwill impairment       132,128  
Distribution of earnings from investments in real estate partnerships     36,545 18,655  
Settlement of derivative instruments     (2,472)    
Deferred compensation expense     2,856 (441)  
Realized and unrealized (gain) loss on investments     (3,606) 599  
Changes in assets and liabilities:          
Tenant and other receivables     12,711 (24,111)  
Deferred leasing costs     (4,884) (3,732)  
Other assets     (8,490) (8,499)  
Accounts payable and other liabilities     7,168 10,982  
Tenants’ security, escrow deposits and prepaid rent     772 (8,623)  
Net cash provided by operating activities     325,287 217,419  
Cash flows from investing activities:          
Acquisition of operating real estate       (16,867)  
Advance deposits refunded on acquisition of operating real estate     500 100  
Real estate development and capital improvements     (72,735) (107,852)  
Proceeds from sale of real estate investments     107,577 115,614  
Issuance of notes receivable     (20) (440)  
Investments in real estate partnerships     (21,382) (42,088)  
Return of capital from investments in real estate partnerships     58,699 23,235  
Dividends on investment securities     67 140  
Acquisition of investment securities     (14,065) (7,062)  
Proceeds from sale of investment securities     14,393 7,094  
Net cash provided by (used in) investing activities     73,034 (28,126)  
Cash flows from financing activities:          
Net proceeds from common stock issuance       125,616  
Repurchase of common shares in conjunction with equity award plans     (4,017) (5,405)  
Proceeds from sale of treasury stock     96 62  
Distributions to limited partners in consolidated partnerships, net     (1,989) (1,644)  
Distributions to exchangeable operating partnership unit holders     (907) (910)  
Dividends paid to common stockholders     (201,233) (199,971)  
Proceeds from issuance of fixed rate unsecured notes, net       598,830  
Proceeds from unsecured credit facilities       610,000  
Repayment of unsecured credit facilities     (265,000) (830,000)  
Repayment of notes payable     (3,962) (3,891)  
Scheduled principal payments     (5,678) (5,128)  
Payment of loan costs     (7,468) (5,056)  
Net cash (used in) provided by financing activities     (490,158) 282,503  
Net (decrease) increase in cash and cash equivalents and restricted cash     (91,837) 471,796  
Cash and cash equivalents and restricted cash at beginning of the period     378,450 115,562 $ 115,562
Cash and cash equivalents and restricted cash at end of the period 286,613 587,358 286,613 587,358 378,450
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $1,865 and $2,449 in 2021 and 2020, respectively)     70,112 72,013  
Cash paid for income taxes, net of refunds     314 576  
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  
Common stock issued for partnership units exchanged     99    
Issuance of exchangeable operating partnership units       1,275  
Change in accrued capital expenditures     6,947 2,965  
Common stock issued under dividend reinvestment plan 392 377 768 756  
Stock-based compensation capitalized     424 604  
Common stock and exchangeable operating partnership dividends declared but not paid     101,520    
Common stock issued for dividend reinvestment in trust     552 540  
Contribution of stock awards into trust     1,416 1,352  
Distribution of stock held in trust     415 441  
Change in fair value of securities     272 326  
Partnership Interest [Member]          
Cash flows from operating activities:          
Net income (loss) 96,832 19,574 178,457 (5,209)  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     151,476 174,353  
Amortization of deferred loan costs and debt premiums     3,479 5,237  
(Accretion) and amortization of above and below market lease intangibles, net     (11,174) (22,456)  
Stock-based compensation, net of capitalization     5,894 7,217  
Equity in income of investments in real estate partnerships (435) (2,824) (12,101) (14,242)  
Gain on sale of real estate, net of tax     (31,479) (45,453)  
Provision for impairment of real estate 135 230 135 1,014  
Goodwill impairment       132,128  
Distribution of earnings from investments in real estate partnerships     36,545 18,655  
Settlement of derivative instruments     (2,472)    
Deferred compensation expense     2,856 (441)  
Realized and unrealized (gain) loss on investments     (3,606) 599  
Changes in assets and liabilities:          
Tenant and other receivables     12,711 (24,111)  
Deferred leasing costs     (4,884) (3,732)  
Other assets     (8,490) (8,499)  
Accounts payable and other liabilities     7,168 10,982  
Tenants’ security, escrow deposits and prepaid rent     772 (8,623)  
Net cash provided by operating activities     325,287 217,419  
Cash flows from investing activities:          
Acquisition of operating real estate       (16,867)  
Advance deposits refunded on acquisition of operating real estate     500 100  
Real estate development and capital improvements     (72,735) (107,852)  
Proceeds from sale of real estate investments     107,577 115,614  
Issuance of notes receivable     (20) (440)  
Investments in real estate partnerships     (21,382) (42,088)  
Return of capital from investments in real estate partnerships     58,699 23,235  
Dividends on investment securities     67 140  
Acquisition of investment securities     (14,065) (7,062)  
Proceeds from sale of investment securities     14,393 7,094  
Net cash provided by (used in) investing activities     73,034 (28,126)  
Cash flows from financing activities:          
Net proceeds from common stock issuance       125,616  
Repurchase of common shares in conjunction with equity award plans     (4,017) (5,405)  
Proceeds from sale of treasury stock     96 62  
Distributions to limited partners in consolidated partnerships, net     (1,989) (1,644)  
Dividends paid to common stockholders     (202,140) (200,881)  
Proceeds from issuance of fixed rate unsecured notes, net       598,830  
Proceeds from unsecured credit facilities       610,000  
Repayment of unsecured credit facilities     (265,000) (830,000)  
Repayment of notes payable     (3,962) (3,891)  
Scheduled principal payments     (5,678) (5,128)  
Payment of loan costs     (7,468) (5,056)  
Net cash (used in) provided by financing activities     (490,158) 282,503  
Net (decrease) increase in cash and cash equivalents and restricted cash     (91,837) 471,796  
Cash and cash equivalents and restricted cash at beginning of the period     378,450 115,562 115,562
Cash and cash equivalents and restricted cash at end of the period $ 286,613 $ 587,358 286,613 587,358 $ 378,450
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $1,865 and $2,449 in 2021 and 2020, respectively)     70,112 72,013  
Cash paid for income taxes, net of refunds     314 576  
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  
Issuance of exchangeable operating partnership units       1,275  
Change in accrued capital expenditures     6,947 2,965  
Common stock issued under dividend reinvestment plan     768 756  
Stock-based compensation capitalized     424 604  
Common stock and exchangeable operating partnership dividends declared but not paid     101,520    
Common stock issued for dividend reinvestment in trust     552 540  
Contribution of stock awards into trust     1,416 1,352  
Distribution of stock held in trust     415 441  
Change in fair value of securities     272 $ 326  
Common unit exchanged for common stock of Parent Company     $ 99