XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 12,650 $ 22,490
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 28,970 25,298
Amortization of intangibles 25,641 22,270
Amortization of deferred financing costs 1,823 4,818
Amortization of below-market lease liabilities (1,644) (1,258)
Amortization of above-market lease assets 2,089 1,136
Amortization of above- and below- market ground lease assets 463 111
Bad debt expense 593 0
Unbilled straight-line rent (6,917) (5,523)
Equity based compensation (2,219) 1,114
Unrealized losses (gains) on foreign currency transactions, derivatives, and other 4,903 (538)
Unrealized losses (gains) on undesignated foreign currency advances and other hedge ineffectiveness 3,853 (4,154)
Gains on dispositions of real estate investments (814) 0
Changes in operating assets and liabilities, net:    
Prepaid expenses and other assets (2,616) (2,599)
Deferred tax assets (67) (9)
Accounts payable and accrued expenses 99 (656)
Prepaid rent 2,435 (1,102)
Deferred tax liability 1,063 414
Taxes payable (1,693) (1,659)
Net cash provided by operating activities 68,916 59,913
Cash flows from investing activities:    
Investment in real estate and real estate related assets (30,290) 0
Capital expenditures (541) (200)
Proceeds from sale of real estate investments 12,440 0
Net cash used in investing activities (18,391) (200)
Cash flows from financing activities:    
Borrowings under credit facility 75,335 0
Repayments on credit facility (5,050) (26,696)
Repayment mezzanine facility (56,537) 0
Payments on mortgage notes payable (21,758) (378)
Proceeds from issuance of common stock 18,518 2
Proceeds from offering costs 185 0
(Payments) proceeds of financing costs (967) 679
Dividends paid (70,759) (60,039)
Distributions to non-controlling interest holders (415) (1,344)
Related party notes receivable acquired in Merger 3,853 0
Advances to related parties, net 0 386
Restricted cash 2,358 (15)
Net cash used in financing activities (55,607) (87,405)
Net change in cash and cash equivalents (5,082) (27,692)
Effect of exchange rate changes on cash 2,662 (1,745)
Cash and cash equivalents, beginning of period 69,831 69,938
Cash and cash equivalents, end of period 67,411 40,501
Supplemental Disclosures:    
Cash paid for interest 20,741 21,079
Cash paid for income taxes 3,109 2,287
Non-Cash Investing and Financing Activities:    
Conversion of OP Units to common stock (Note 1) 2,629 0
Secured Debt    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of debt discounts and premiums, net 287 (240)
Mortgages | Mezzanine Facility    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of debt discounts and premiums, net $ 17 $ 0