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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 170,294 $ 146,551
Adjustments to net income:    
Depreciation and amortization 244,186 218,275
Amortization of share-based compensation 7,215 6,552
Non-cash revenue adjustments (1,564) (5,279)
Amortization of net premiums on mortgages payable (1,240) (1,855)
Amortization of deferred financing costs 4,684 4,384
(Gain) loss on interest rate swaps (859) 7,886
Gain on sales of real estate (13,371) (10,948)
Provisions for impairment on real estate 7,706 8,192
Change in assets and liabilities    
Accounts receivable and other assets 1,946 6,946
Accounts payable, accrued expenses and other liabilities 41,620 (19,277)
Net cash provided by operating activities 460,617 361,427
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (696,116) (618,340)
Improvements to real estate, including leasing costs (9,232) (2,934)
Proceeds from sales of real estate 44,005 35,020
Collection of loans receivable 61 12,457
Restricted escrow deposits for Section 1031 tax-deferred exchanges and pending acquisitions (3,983) (17,291)
Net cash used in investing activities (665,265) (591,088)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (335,380) (298,581)
Cash dividends to preferred stockholders (6,168) (13,540)
Borrowings on line of credit 772,000 2,244,000
Payments on line of credit (1,244,000) (1,970,000)
Proceeds from notes and bonds payable issued 711,812  
Principal payments on mortgages payable (86,515) (181,333)
Redemption of preferred stock (408,750)  
Proceeds from common stock offerings, net 704,938 383,525
Proceeds from dividend reinvestment and stock purchase plan 59,649 5,806
Procceds from At-the-Market (ATM) program 52,442 44,565
Distributions to noncontrolling interests (887) (747)
Debt issuance costs (6,663)  
Other items, including shares withheld upon vesting (6,305) (3,885)
Net cash provided by financing activities 206,173 209,810
Net increase (decrease) in cash and cash equivalents 1,525 (19,851)
Cash and cash equivalents, beginning of period 9,420 40,294
Cash and cash equivalents, end of period $ 10,945 $ 20,443