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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 80,765 $ 219,959 $ 80,104
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of investment properties (5,437) (133,059) (77,114)
Depreciation and amortization, including discontinued operations 181,382 196,745 145,293
Amortization of deferred financing costs and premium/discount on notes payable 2,417 (2,139) (1,595)
Stock-based compensation expense, net of forfeitures 3,399 2,994 2,152
Effect of non-cash adjustments to rental revenues (32,401) (40,410) (25,873)
Income from unconsolidated joint ventures (12,224) (47,115) (10,562)
(Gain) loss on extinguishment of debt 16,756 11,065 14,184
(Gain) loss on extinguishment of debt (8) (2,258) 5,180
Other 0 0 4,526
Changes in other operating assets and liabilities:      
Change in other receivables and other assets, net (6,049) 11,456 2,156
Change in operating liabilities, net 434 (5,589) (20,749)
Net cash provided by operating activities 229,034 211,649 117,702
Proceeds from investment property sales      
Proceeds from investment property sales 372 370,944 622,643
Proceeds from sale of interest in unconsolidated joint venture 0 12,514 0
Property acquisition, development, and tenant asset expenditures (223,636) (319,975) (193,534)
Investment in unconsolidated joint ventures 0 (13,382) 0
Investment in unconsolidated joint ventures (50,933) (20,080) (28,531)
Cash and restricted cash acquired in merger with Parkway Properties, Inc. 0 0 93,753
Distributions from unconsolidated joint ventures 2,032 75,506 949
Investment in marketable securities 0 0 (21,190)
Change in notes receivable and other assets (8,317) 6,583 (8,241)
Other (4,002) 0 0
Net cash provided by (used in) investing activities (284,484) 112,110 465,849
Proceeds from credit facility      
Proceeds from credit facility 8,000 589,300 716,800
Repayment of credit facility (8,000) (723,300) (674,800)
Proceeds from issuance of notes payable 0 350,000 870,000
Repayment of notes payable (31,402) (495,913) (907,300)
Payment of deferred financing costs (6,166) (2,074) 0
Cash distributed to Parkway, Inc. 0 0 (192,755)
Repurchase of Common Stock 0 0 (13,743)
Common stock issued, net of expenses 0 211,521 0
Contributions from noncontrolling interests 1,497 2,646 4,126
Distributions to nonredeemable noncontrolling interests (2,653) (1,807) (286,122)
Common dividends paid (107,167) (99,151) (50,548)
Other (1,709) (557) (4,195)
Net cash used in financing activities (147,600) (169,335) (538,537)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD (203,050) 154,424 45,014
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 205,745 51,321 6,307
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 2,695 $ 205,745 $ 51,321