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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities:    
Net income $ 7,918 $ 8,120
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,825 43,373
Amortization of above and below market leases 10 90
Amortization of deferred loan costs 1,130 987
Distributions from unconsolidated entity 569 300
Equity in net loss of unconsolidated entity 559 677
Equity-based compensation expense 6,856 4,875
Bad debt expense 1,013 3,719
Deferred tax expense (benefit) 18 (270)
Foreign currency remeasurement income 0 (159)
Changes in operating assets and liabilities    
Rents and other receivables, net (17,933) 2,888
Prepaid expenses (3,914) (3,164)
Due to/from affiliates, net (4,095) (4,428)
Other assets (445) (238)
Accounts payable and accrued liabilities 2,610 7,173
Advance rents, security deposits and other liabilities 3,771 6,727
Deferred income 8,203 392
Net cash provided by operating activities 60,095 71,062
Cash flow from investing activities:    
Acquisitions, net of cash acquired (401) (1,797)
Additions to property and equipment (214,279) (171,218)
Net cash used in investing activities (214,680) (173,015)
Cash flow from financing activities:    
Credit facility proceeds 253,000 212,917
Credit facility repayments (280,000) 0
Payment of deferred financing costs 0 (5)
Payment of preferred stock dividends (7,045) (7,045)
Payment of common stock dividends (30,352) (25,627)
Distribution to noncontrolling interests (3,082) (2,934)
Proceeds from exercise of stock options 1,979 808
Payment of tax withholdings related to equity-based awards (1,435) (2,293)
Principal payments on finance lease obligations (662) (620)
Mortgage principal debt repayments 0 (12)
Common stock issuance proceeds, net of costs 215,923 83,260
Net cash provided by financing activities 148,326 258,449
Effect of foreign currency exchange rates on cash and cash equivalents (1,864) (192)
Net change in cash and cash equivalents (8,123) 156,304
Cash and cash equivalents, beginning of period 22,775 15,653
Cash and cash equivalents, end of period 14,652 171,957
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 8,801 9,370
Noncash investing and financing activities:    
Accrued capital additions 138,259 125,750
Net increase (decrease) in other assets/liabilities related to change in fair value of derivative contracts 17,253 (35,097)
Accrued equity issuance costs 75 44
Accrued preferred stock dividend $ 5,938 $ 5,938