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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 89,035 $ 70,484
Adjustments to net income:    
Depreciation and amortization 121,097 107,933
Amortization of share-based compensation 2,753 2,605
Non-cash revenue adjustments (1,343) (3,099)
Amortization of net premiums on mortgages payable (630) (1,101)
Amortization of deferred financing costs 2,390 2,200
(Gain) loss on interest rate swaps (1,330) 5,778
Gain on sales of real estate (10,532) (2,289)
Provisions for impairment on real estate 5,433 1,923
Change in assets and liabilities    
Accounts receivable and other assets 139 5,081
Accounts payable, accrued expenses and other liabilities 6,119 (53,225)
Net cash provided by operating activities 213,131 136,290
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (374,573) (313,169)
Improvements to real estate, including leasing costs (3,749) (902)
Proceeds from sale of real estate 31,232 11,038
Collection of loans receivable 30 12,428
Restricted escrow deposits for Section 1031 tax-deferred exchanges and pending acquisitions (18,252) (4,088)
Net cash used in investing activities (365,312) (294,693)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (162,506) (147,345)
Cash dividends to preferred stockholders (6,168) (6,770)
Borrowings on line of credit 79,000 1,209,000
Payments on line of credit (1,199,000) (794,000)
Proceeds from notes and bonds payable issued 711,812  
Principal payments on mortgages payable (2,120) (164,339)
Proceeds from common stock offerings, net 705,012  
Proceeds from dividend reinvestment and stock purchase plan 56,991 3,512
Procceds from At-the-Market (ATM) program   30,547
Distributions to noncontrolling interests (631) (382)
Debt issuance costs (6,614)  
Other items, including shares withheld upon vesting (5,417) (3,419)
Net cash provided by financing activities 170,359 126,804
Net increase (decrease) in cash and cash equivalents 18,178 (31,599)
Cash and cash equivalents, beginning of period 9,420 40,294
Cash and cash equivalents, end of period $ 27,598 $ 8,695