Supplemental Disclosures of Cash Flow Information

12 Months Ended

Dec. 31, 2017

Supplemental Disclosures of Cash Flow Information

Supplemental Disclosures of Cash Flow Information

15.        Supplemental Disclosures of Cash Flow Information

Cash paid for interest was $240.4 million in 2017, $214.3 million in 2016, and $229.5 million in 2015.

Interest capitalized to properties under development was $461,000 in 2017, $469,000 in 2016, and $594,000 in 2015.

Cash paid for income taxes was $3.8 million in 2017, $3.6 million in 2016, and $3.1 million in 2015.

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

A. See note 9 for a discussion of the $13.4 million excess of redemption value over carrying value of preferred shares subject to redemption charge recorded in 2017.

B. During 2017, we completed the acquisition of a portfolio of properties by entering into a note payable in the amount of $125.9 million with the seller, maturing in January 2018. This note was paid in full at maturity.

C. During 2016, we assumed mortgages payable to third-party lenders of $44.1 million and recorded a premium of $692,000.

D. 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 note 15.C.

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

Per the requirements of ASU 2016-18, the following table provides a reconciliation of cash and cash equivalents reported within the consolidated balance sheets to the total of the cash, cash equivalents and restricted cash reported within the consolidated statements of cash flows.

	December 31, 2017		December 31, 2016
Cash and cash equivalents shown in the consolidated balance sheets	$	6,898	$	9,420
Impounds related to mortgages payable (1)	4,565		2,015
Restricted escrow deposits (1)	679		4,246
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	12,142	$	15,681

(1) Included within other assets, net on the consolidated balance sheets (See note 3). These amounts consist of cash we are legally entitled to that is not immediately available to us, hence, they were considered restricted as of the dates presented.