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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 198,545 $ 13,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of investments in unconsolidated joint ventures (45,999) 0
Gain on investment properties transactions (90,715) (14,415)
Depreciation and amortization 144,482 96,765
Amortization of deferred financing costs and premium/discount on notes payable (446) 1,211
Stock-based compensation expense, net of forfeitures 3,485 2,594
Effect of non-cash adjustments to revenues (26,303) (23,289)
Income from unconsolidated joint ventures (5,140) (6,538)
Operating distributions from unconsolidated joint ventures 3,351 4,036
Changes in other operating assets and liabilities:    
Change in other receivables and other assets, net (20,243) (15,674)
Change in operating liabilities, net (27,429) 19,678
Net cash provided by operating activities 133,588 77,791
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales 433,673 57,772
Proceeds from sales of investments in unconsolidated joint ventures 52,874 0
Property acquisition, development, and tenant asset expenditures (235,466) (168,700)
Investment in unconsolidated joint ventures (2,341) (12,249)
Change in notes receivable and other assets 52 85,978
Other 0 (47)
Net cash provided by (used in) investing activities 248,792 (37,246)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 280,500 837,000
Repayment of credit facility (532,000) (773,000)
Repayment of notes payable (30,760) (684,445)
Issuance of unsecured senior notes 0 650,000
Payment of deferred financing costs 0 (2,861)
Contributions from nonredeemable noncontrolling interests 1,816 4,241
Distributions to nonredeemable noncontrolling interests (851) (1,265)
Common dividends paid (87,123) (57,817)
Other (1,368) (1,026)
Net cash used in financing activities (369,786) (29,173)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 12,594 11,372
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 17,608 2,695
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 30,202 $ 14,067