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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 9,601 $ 8,276
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 19,263 16,733
Amortization of intangibles 14,270 14,570
Amortization of deferred financing costs 1,810 1,742
Amortization of mortgage discounts and premiums, net 10 102
Amortization of below-market lease liabilities (815) (1,011)
Amortization of above-market lease assets 840 1,112
Amortization of above- and below- market ground lease assets 207 236
Bad debt expense 0 59
Unbilled straight-line rent (1,487) (1,626)
Equity-based compensation 2,488 2,109
Unrealized (gain) loss on foreign currency transactions, derivatives, and other (2,082) 452
Unrealized loss on undesignated foreign currency advances and other hedge ineffectiveness 0 76
Payments for settlement of derivatives 0 (719)
Loss (gain) on disposition of real estate investments 0 (892)
Lease incentive payment (4,676) 0
Changes in operating assets and liabilities, net:    
Prepaid expenses and other assets 4,873 (6,230)
Deferred tax assets 22 12
Accounts payable and accrued expenses (909) (12,396)
Prepaid rent 212 4,593
Deferred tax liability (686) (267)
Taxes payable (1,046) (2,180)
Net cash provided by operating activities 41,895 24,751
Cash flows from investing activities:    
Investment in real estate and real estate related assets 113,117 23,454
Deposits for real estate acquisitions (1,434) (1,200)
Capital expenditures 1,396 11,265
Proceeds from dispositions of real estate investments 0 9,277
Net cash used in investing activities (115,947) (26,642)
Cash flows from financing activities:    
Borrowings under revolving credit facilities 205,000 26,000
Repayments on revolving credit facilities 0 (130,000)
Proceeds from mortgage notes payable 0 84,228
Payments on mortgage notes payable 0 (82,636)
Deposits on mortgages 0 (300)
Common stock issuance costs (106)  
Common stock issuance costs   150,198
Preferred stock issuance costs 76 1,613
Payments of financing costs 0 (857)
Dividends paid on Common Stock (47,638) (43,270)
Distributions to non-controlling interest holders (135) (134)
Net cash provided by financing activities 153,539 2,387
Net change in cash, cash equivalents and restricted cash 79,487 496
Effect of exchange rate changes on cash (5,972) (5,554)
Cash, cash equivalents and restricted cash, beginning of period 274,287 103,693
Cash, cash equivalents and restricted cash, end of period 347,802 98,635
Cash, cash equivalents and restricted cash, end of period 347,802 98,635
Supplemental Disclosures:    
Cash paid for interest 14,700 15,535
Cash paid for income taxes 2,667 3,140
Series A Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock (3,081) (2,455)
Series B Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock $ (577) $ 0