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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 152,683 $ 80,765 $ 219,959
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on investment property transactions (110,761) (5,437) (133,059)
Depreciation and amortization 257,149 181,382 196,745
Amortization of deferred financing costs and premium on notes payable 1,500 2,417 (2,139)
Stock-based compensation expense, net of forfeitures 3,830 3,399 2,994
Effect of non-cash adjustments to rental revenues (44,839) (32,401) (40,410)
Income from unconsolidated joint ventures (12,666) (12,224) (47,115)
Operating distributions from unconsolidated joint ventures 11,792 16,756 11,065
Gain on extinguishment of debt 0 (8) (2,258)
Changes in other operating assets and liabilities:      
Change in other receivables and other assets, net (10,079) (6,049) 11,456
Change in operating liabilities, net 54,568 434 (5,589)
Net cash provided by operating activities 303,177 229,034 211,649
Proceeds from investment property sales      
Proceeds from investment property sales 62,667 372 370,944
Proceeds from sale of interest in unconsolidated joint venture 0 0 12,514
Property acquisition, development, and tenant asset expenditures (482,633) (223,636) (319,975)
Cash and restricted cash acquired in merger 85,989 0 0
Purchase of tenant-in-common interest 0 0 (13,382)
Investment in unconsolidated joint ventures (23,361) (50,933) (20,080)
Distributions from unconsolidated joint ventures 10 2,032 75,506
Change in notes receivable and other assets (96) (8,317) 6,583
Other 0 (4,002) 0
Net cash provided by (used in) investing activities (357,424) (284,484) 112,110
Proceeds from credit facility      
Proceeds from credit facility 1,212,000 8,000 589,300
Repayment of credit facility (960,500) (8,000) (723,300)
Repayment of notes payable (691,179) (31,402) (495,913)
Issuance of unsecured senior notes 650,000 0 350,000
Payment of deferred financing costs (2,868) (6,166) (2,074)
Common stock issued, net of expenses 0 0 211,521
Contributions from noncontrolling interests 8,087 1,497 2,646
Distributions to nonredeemable noncontrolling interests (2,411) (2,653) (1,807)
Common dividends paid (142,941) (107,167) (99,151)
Other (1,028) (1,709) (557)
Net cash provided by (used in) financing activities 69,160 (147,600) (169,335)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 14,913 (203,050) 154,424
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 2,695 205,745 51,321
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 17,608 $ 2,695 $ 205,745