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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 34,115 $ 58,014
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of investment properties (14,388) (4,912)
Depreciation and amortization 178,777 135,836
Amortization of deferred financing costs and premium/discount on notes payable 1,723 1,808
Stock-based compensation expense, net of forfeitures 3,209 2,825
Effect of non-cash adjustments to revenues (31,166) (24,028)
Income from unconsolidated joint ventures (9,779) (10,173)
Operating distributions from unconsolidated joint ventures 6,125 15,056
Gain on extinguishment of debt 0 (8)
Changes in other operating assets and liabilities:    
Change in other receivables and other assets, net (13,638) (435)
Change in operating liabilities, net 43,387 4,054
Net cash provided by operating activities 198,365 178,037
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales 58,968 0
Property acquisition, development, and tenant asset expenditures (252,034) (132,468)
Investment in unconsolidated joint ventures (21,476) (43,276)
Distributions from unconsolidated joint ventures 11 2,032
Cash and restricted cash acquired in merger 85,989 0
Change in notes receivable and other assets (71) (4,429)
Other 0 (4,261)
Net cash used in investing activities (128,613) (182,402)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 904,000 0
Repayment of credit facility (824,000) 0
Repayment of notes payable (687,207) (28,719)
Issuance of unsecured senior notes 650,000 0
Payment of deferred financing costs (2,866) (6,166)
Contributions from nonredeemable noncontrolling interests 5,271 252
Distributions to nonredeemable noncontrolling interests (1,745) (2,071)
Common dividends paid (100,372) (79,842)
Other (864) (1,709)
Net cash used in financing activities (57,783) (118,255)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 11,969 (122,620)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 2,695 205,745
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 14,664 $ 83,125