XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 226,800 $ 34,115
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of investments in unconsolidated joint ventures (45,940) 0
Gain on investment properties transactions (90,192) (14,388)
Depreciation and amortization 215,980 178,777
Amortization of deferred financing costs and premium/discount on notes payable (671) 1,723
Stock-based compensation expense, net of forfeitures 4,415 3,209
Effect of non-cash adjustments to revenues (41,614) (31,166)
Income from unconsolidated joint ventures (6,751) (9,779)
Operating distributions from unconsolidated joint ventures 5,940 6,125
Changes in other operating assets and liabilities:    
Change in other receivables and other assets, net (715) (13,638)
Change in operating liabilities, net (8,245) 43,387
Net cash provided by operating activities 259,007 198,365
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales 435,539 58,968
Proceeds from sales of investments in unconsolidated joint ventures 52,815 0
Property acquisition, development, and tenant asset expenditures (306,102) (252,034)
Investment in unconsolidated joint ventures (3,752) (21,476)
Distributions from unconsolidated joint ventures 0 11
Cash and restricted cash acquired in merger 0 85,989
Change in notes receivable and other assets (167) (71)
Net cash provided by (used in) investing activities 178,333 (128,613)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 319,500 904,000
Repayment of credit facility (571,000) (824,000)
Repayment of notes payable (34,710) (687,207)
Issuance of unsecured senior notes 0 650,000
Payment of deferred financing costs (70) (2,866)
Contributions from nonredeemable noncontrolling interests 4,133 5,271
Distributions to nonredeemable noncontrolling interests (1,020) (1,745)
Common dividends paid (131,694) (100,372)
Other (1,368) (864)
Net cash used in financing activities (416,229) (57,783)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 21,111 11,969
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 17,608 2,695
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 38,719 $ 14,664