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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 278,996 $ 238,114 $ 152,683
Adjustments to reconcile net income to net cash provided by operating activities:      
Income (Loss) From Unconsolidated Joint Ventures (13,083) (45,767) 0
Gain on investment property transactions (152,547) (90,125) (110,761)
Impairment 0 14,829 0
Depreciation and amortization 288,092 288,648 257,149
Amortization and write-off of deferred financing costs and premium on notes payable (437) (888) 1,500
Equity-classified stock-based compensation expense, net of forfeitures 7,459 5,298 3,830
Effect of non-cash adjustments to rental revenues (39,473) (52,593) (44,839)
Income from unconsolidated joint ventures (6,801) (7,947) (12,666)
Operating distributions from unconsolidated joint ventures 11,542 9,303 11,792
Changes in other operating assets and liabilities:      
Change in receivables and other assets, net 5,500 (2,439) (10,079)
Change in operating liabilities, net 10,230 (5,345) 54,568
Net cash provided by operating activities 389,478 351,088 303,177
Proceeds from investment property sales, net      
Proceeds from investment property sales, net 555,333 435,833 62,667
Proceeds from sale of interest in unconsolidated joint ventures, net 67,066 53,601 0
Property acquisition, development, and tenant asset expenditures (787,810) (619,602) (482,633)
Return of capital distributions from unconsolidated joint venture 39,422 0 0
Cash and restricted cash acquired in merger 0 0 85,989
Contributions to unconsolidated joint ventures (65,077) (4,285) (23,361)
Distributions from unconsolidated joint ventures 0 2,151 10
Change in notes receivable and other assets 0 (161) (96)
Net cash used in investing activities (191,066) (132,463) (357,424)
Proceeds from credit facility      
Proceeds from credit facility 855,500 575,500 1,212,000
Repayment of credit facility (859,400) (594,600) (960,500)
Repayment of notes payable (109,469) (38,700) (691,179)
Issuance of unsecured senior notes 0 0 650,000
Payment of deferred financing costs (2,989) (73) (2,868)
Contributions from noncontrolling interests 6,154 5,197 8,087
Distributions to nonredeemable noncontrolling interests (1,338) (1,156) (2,411)
Common dividends paid (182,840) (176,263) (142,941)
Issuance of term loan 350,000 0 0
Repayment of term loan (250,000) 0 0
Other 0 0 (1,028)
Net cash provided by (used in) financing activities (194,382) (230,095) 69,160
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 4,030 (11,470) 14,913
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 6,138 17,608 2,695
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 10,168 $ 6,138 $ 17,608