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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 111,230 $ 83,315
Adjustments to net income:    
Depreciation and amortization 137,517 131,103
Amortization of share-based compensation 2,764 3,662
Non-cash revenue adjustments (2,116) (1,544)
Amortization of net premiums on mortgages payable (354) (459)
Amortization of deferred financing costs 1,957 1,652
Loss (gain) on interest rate swaps 678 (2,007)
Gain on sales of real estate (7,263) (3,218)
Provisions for impairment on real estate 4,672 14,221
Change in assets and liabilities    
Accounts receivable and other assets (6,185) (2,473)
Accounts payable, accrued expenses and other liabilities (30,873) (10,723)
Net cash provided by operating activities 212,027 213,529
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (517,975) (498,448)
Improvements to real estate, including leasing costs (2,995) (8,940)
Proceeds from sales of real estate 22,456 13,779
Insurance proceeds received 0 1,184
Collection of loans receivable 0 32
Non-refundable escrow deposits for pending acquisitions 0 (442)
Net cash used in investing activities (498,514) (492,835)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (204,546) (185,556)
Borrowings on line of credit 732,000 1,058,000
Payments on line of credit (146,000) (86,000)
Principal payment on term loan (70,000) (125,866)
Principal payment on notes payable 0 (350,000)
Principal payments on mortgages payable (1,235) (12,323)
Proceeds from dividend reinvestment and stock purchase plan 2,164 2,346
Redemption of common units (20,225) 0
Distributions to noncontrolling interests (321) (313)
Other items, including shares withheld upon vesting (4,087) (6,542)
Net cash provided by financing activities 287,750 293,746
Net increase in cash, cash equivalents and restricted cash 1,263 14,440
Cash, cash equivalents and restricted cash, beginning of period 21,071 12,142
Cash, cash equivalents and restricted cash, end of period $ 22,334 $ 26,582