Supplemental Disclosures of Cash Flow Information

12 Months Ended

Dec. 31, 2016

Supplemental Disclosures of Cash Flow Information

Supplemental Disclosures of Cash Flow Information

15.        Supplemental Disclosures of Cash Flow Information

Cash paid for interest was $214.3 million in 2016, $229.5 million in 2015, and $207.3 million in 2014.

Interest capitalized to properties under development was $469,000 in 2016, $594,000 in 2015, and $444,000 in 2014.

Cash paid for income taxes was $3.6 million in 2016, $3.1 million in 2015, and $3.7 million in 2014.

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

A. During 2016, we assumed mortgages payable to third-party lenders of $44.1 million and recorded a premium of $692,000. During 2014, we assumed mortgages payable to third-party lenders of $166.7 million, recorded $604,000 of net premiums, and recorded $901,000 of interest rate swap value to other assets, net, related to property acquisitions.

B. During 2016, consolidated joint venture members made real estate contributions of $15.9 million, net of contributed mortgages payable included in the figures disclosed above in 15.A.

C. See note 9 for a discussion of the $6.0 million excess of redemption value over carrying value of preferred shares subject to redemption charge recorded during 2014.

D. During 2014, we applied $48.9 million of loans receivable to the purchase price of five acquired properties.

E. During 2014, we acquired real estate for $11.6 million via exchanges of our properties.

F. Accrued costs on properties under development resulted in an increase in buildings and improvements and accounts payable of $2.6 million and $4.0 million at December 31, 2016 and 2014, respectively.