Supplemental Disclosures of Cash Flow Information

9 Months Ended

Sep. 30, 2013

Supplemental Disclosures of Cash Flow Information

Supplemental Disclosures of Cash Flow Information

18.    Supplemental Disclosures of Cash Flow Information

Cash paid for interest was $142.4 million in the first nine months of 2013 and $105.7 million in the first nine months of 2012.

Interest capitalized to properties under development was $579,000 in the first nine months of 2013 and $388,000 in the first nine months of 2012.

Cash paid for income taxes was $1.5 million in the first nine months of 2013 and $961,000 in the first nine months of 2012.

The following non-cash activities are included in the accompanying consolidated financial statements:

A.   Share-based compensation expense was $14.2 million for the first nine months of 2013 and was $7.8 million for the first nine months of 2012.

B.  See note 15 for a discussion of impairments in discontinued operations, for the first nine months of 2013 and 2012.

C.  During the first nine months of 2013, the following components were acquired in connection with our acquisition of ARCT: (1) real estate investments and related intangible assets of $3.2 billion, (2) other assets of $20.0 million, (3) lines of credit payable of $317.2 million, (4) a term loan for $235.0 million, (5) mortgages payable of $539.0 million, (6) intangible liabilities of $78.7 million, (7) other liabilities of $29.6 million, and (8) noncontrolling interests of $14.0 million.

D.   During the first nine months of 2013, we acquired mortgages payable, (excluding the mortgages payable discussed in items C. and E.) to third-party lenders of $81.3 million and recorded $5.7 million of net premiums related to property acquisitions.  During the first nine months of 2012, we assumed $70.0 million of mortgages payable to third-party lenders and recorded $7.1 million of net premiums.

E.   During the first nine months of 2013, we acquired $55.9 million of real estate through the assumption of a $32.4 million mortgage payable, the issuance of 534,546 units by Realty Income, L.P. and cash of $1.0 million.

F.  During the first nine months of 2013, we acquired real estate for $7.4 million via exchanges of our properties.

G.  During the first nine months of 2013, we recorded receivables of $1.9 million for the sale of two investment properties as a result of an eminent domain action.  These receivables are included in “other assets” on our consolidated balance sheet at September 30, 2013.

H.  Accrued costs on properties under development resulted in an increase in buildings and improvements and accounts payable of $3.0 million at September 30, 2013.