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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 57,371 $ 198,545
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of investment in unconsolidated joint ventures (39) (45,999)
Gain (loss) on investment property transactions 26 (90,715)
Depreciation and amortization 142,326 144,482
Amortization and write-off of deferred financing costs and premium on notes payable (272) (446)
Equity-classified stock-based compensation expense, net of forfeitures 4,487 3,485
Effect of non-cash adjustments to rental revenues (18,378) (26,303)
Income from unconsolidated joint ventures (3,698) (5,140)
Operating distributions from unconsolidated joint ventures 7,677 3,351
Changes in other operating assets and liabilities:    
Change in receivables and other assets, net (3,383) (20,243)
Change in operating liabilities, net (18,427) (27,429)
Net cash provided by operating activities 167,690 133,588
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales, net 127,023 433,673
Proceeds from sale of interest in unconsolidated joint ventures, net 43 52,874
Property acquisition, development, and tenant asset expenditures (116,009) (235,466)
Return of capital distributions from unconsolidated joint venture 25,955 0
Contributions to unconsolidated joint ventures (656) (2,341)
Change in notes receivable and other assets 0 52
Net cash provided by investing activities 36,356 248,792
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 192,000 280,500
Repayment of credit facility (392,400) (532,000)
Repayment of notes payable (8,102) (30,760)
Payment of deferred financing costs (3,014) 0
Contributions from noncontrolling interests 3,382 1,816
Distributions to nonredeemable noncontrolling interests (353) (851)
Common dividends paid (90,649) (87,123)
Issuance of term loan 350,000 0
Repayment of term loan (250,000) 0
Other 0 (1,368)
Net cash used in financing activities (199,136) (369,786)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 4,910 12,594
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 6,138 17,608
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 11,048 $ 30,202