XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 111,507 $ 226,800
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of investment in unconsolidated joint ventures (13,160) (45,940)
Gain on investment property transactions, net (13,037) (90,192)
Depreciation and amortization 214,399 215,980
Amortization and write-off of deferred financing costs and premium on notes payable (356) (671)
Equity-classified stock-based compensation expense, net of forfeitures 5,959 4,415
Effect of non-cash adjustments to rental revenues (27,838) (41,614)
Income from unconsolidated joint ventures (5,826) (6,751)
Operating distributions from unconsolidated joint ventures 9,085 5,940
Changes in other operating assets and liabilities:    
Change in receivables and other assets, net 3,178 (715)
Change in operating liabilities, net 14,676 (8,245)
Net cash provided by operating activities 298,587 259,007
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales, net 389,777 435,539
Proceeds from sale of interest in unconsolidated joint ventures, net 67,143 52,815
Property acquisition, development, and tenant asset expenditures (488,243) (306,102)
Return of capital distributions from unconsolidated joint venture 25,955 0
Contributions to unconsolidated joint ventures (46,038) (3,752)
Change in notes receivable and other assets 0 (167)
Net cash provided by (used in) investing activities (51,406) 178,333
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 329,000 319,500
Repayment of credit facility (527,400) (571,000)
Repayment of notes payable (12,214) (34,710)
Payment of deferred financing costs (3,014) (70)
Contributions from noncontrolling interests 5,017 4,133
Distributions to nonredeemable noncontrolling interests (1,197) (1,020)
Common dividends paid (136,743) (131,694)
Issuance of term loan 350,000 0
Repayment of term loan (250,000) 0
Other 0 (1,368)
Net cash used in financing activities (246,551) (416,229)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 630 21,111
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 6,138 17,608
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 6,768 $ 38,719