XML 46 R6.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
OPERATING ACTIVITIES    
Net income $ 21,099 $ 15,687
Adjustments to reconcile income from operations to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (4,360) (3,593)
Depreciation and amortization 50,902 50,614
Amortization of debt issuance costs and debt fair value adjustments 3,046 2,949
Stock-based compensation expense 2,571 2,119
Settlement of forward interest rate swap agreement 1,617 0
Other, net (839) 804
Changes in operating assets and liabilities    
Change in restricted cash (1,438) (1,549)
Change in accounts receivable (195) (1,019)
Change in other assets (168) (68)
Change in accounts payable and accrued expenses 7,298 8,071
Change in security deposits payable 113 154
Change in other liabilities and deferred credits 1,751 321
Net cash provided by operating activities 81,397 74,490
INVESTING ACTIVITIES    
Capital expenditures (94,877) (33,503)
Change in restricted cash (1,272) 305
Leasing commissions (2,805) (1,977)
Net cash used in investing activities (98,954) (35,175)
FINANCING ACTIVITIES    
Change in restricted cash 0 (1,400)
Repayment of secured notes payable (1,169) (2,749)
Proceeds from term loan 100,000 0
Repayment of line of credit (93,000) 0
Debt issuance costs (1,957) 0
Proceeds from issuance of common stock, net 104,148 24,790
Dividends paid to common stock and unitholders (39,988) (36,645)
Deferred offering costs 0 (68)
Shares withheld for employee taxes (4,319) 0
Net cash (used in) provided by financing activities 63,715 (16,072)
Net increase (decrease) in cash and cash equivalents 46,158 23,243
Cash and cash equivalents, beginning of period 48,987 42,479
Cash and cash equivalents, end of period $ 95,145 $ 65,722