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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 219,959 $ 80,104 $ 125,629
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of investment properties (133,059) (77,114) (79,843)
(Gain) loss on extinguishment of debt (2,258) 5,180 0
Depreciation and amortization, including discontinued operations 196,745 145,293 135,462
Amortization of deferred financing costs and premium/discount on notes payable (2,139) (1,595) 1,423
Stock-based compensation expense, net of forfeitures 2,994 2,152 1,473
Effect of non-cash adjustments to rental revenues (40,410) (25,873) (26,475)
Income from unconsolidated joint ventures (47,115) (10,562) (8,302)
Operating distributions from unconsolidated joint ventures 11,065 14,184 11,664
Other 0 4,526 (263)
Changes in other operating assets and liabilities:      
Change in other receivables and other assets, net 11,456 2,156 (10,937)
Change in operating liabilities (5,589) (20,749) 4,471
Net cash provided by operating activities 211,649 117,702 154,302
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from investment property sales 370,944 622,643 225,307
Proceeds from sale of interest in unconsolidated joint venture 12,514 0 0
Property acquisition, development, and tenant asset expenditures (319,975) (193,534) (184,988)
Investment in unconsolidated joint ventures (20,080) (28,531) (9,985)
Purchase of tenant-in-common interest (13,382) 0 0
Distributions from unconsolidated joint ventures 75,506 949 4,651
Cash and restricted cash acquired in merger with Parkway Properties, Inc. 0 93,753 0
Investments in marketable securities 0 (21,190) 0
Change in notes receivable and other assets 6,583 (8,241) 118
Net cash provided by investing activities 112,110 465,849 35,103
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from credit facility 589,300 716,800 355,900
Repayment of credit facility (723,300) (674,800) (404,100)
Proceeds from notes payable 350,000 870,000 0
Repayment of notes payable (495,913) (907,300) (22,851)
Cash distributed to Parkway, Inc. 0 (192,755) 0
Payment of deferred financing costs (2,074) 0 0
Common stock issued, net of expenses 211,521 0 8
Repurchase of common stock 0 (13,743) (47,790)
Common dividends paid (99,151) (50,548) (69,196)
Contributions from noncontrolling interests 2,646 4,126 0
Distributions to nonredeemable noncontrolling interests (1,807) (286,122) (111)
Other (557) (4,195) 0
Net cash used in financing activities (169,335) (538,537) (188,140)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 154,424 45,014 1,265
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 51,321 6,307 5,042
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 205,745 $ 51,321 $ 6,307