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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 29,311 $ 175,309
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of investment in unconsolidated joint ventures (39) (46,230)
Gain (loss) on investment property transactions 17 (90,916)
Depreciation and amortization 70,870 71,614
Amortization of deferred financing costs and premium on notes payable (218) (216)
Equity-classified stock-based compensation expense, net of forfeitures 1,667 1,284
Effect of non-cash adjustments to rental revenues (11,777) (13,602)
Income from unconsolidated joint ventures (1,903) (3,425)
Operating distributions from unconsolidated joint ventures 2,449 1,829
Changes in other operating assets and liabilities:    
Change in receivables and other assets, net (8,010) (13,661)
Change in operating liabilities, net (46,590) (69,022)
Net cash provided by operating activities 35,777 12,964
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales, net (7) 433,875
Proceeds from sale of interest in unconsolidated joint ventures, net 0 53,104
Property acquisition, development, and tenant asset expenditures (61,369) (67,983)
Return of capital distributions from unconsolidated joint venture 25,955 0
Contributions to unconsolidated joint ventures (351) (1,238)
Change in notes receivable and other assets 0 26
Net cash provided by (used in) investing activities (35,772) 417,784
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 134,000 280,500
Repayment of credit facility (77,400) (532,000)
Repayment of notes payable (4,030) (26,849)
Contributions from noncontrolling interests 1,695 1,036
Distributions to nonredeemable noncontrolling interests (7) (638)
Common dividends paid (44,569) (42,561)
Other 0 (1,265)
Net cash provided by (used in) financing activities 9,689 (321,777)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 9,694 108,971
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 6,138 17,608
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 15,832 $ 126,579