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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net (loss) income $ (1,940) $ 27,886 $ (11,978) $ 453,393
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation     7,531 8,105
Net amortization of debt premiums and deferred financing fees 0 (60) 0 (116)
Straight-line rental income     (868) 713
Other amortization     1,252 1,407
Amortization of right-of-use asset     0 379
Share-based compensation     9,601 6,571
Net gain on sale of properties 0 (26,916) 0 (446,536)
Change in assets and liabilities:        
Rents receivable and other assets     327 515
Accounts payable, accrued expenses and other     (2,199) (576)
Rent collected in advance     (555) (606)
Net cash provided by operating activities     3,111 23,249
CASH FLOWS FROM INVESTING ACTIVITIES:        
Real estate improvements     (4,074) (2,937)
Payment of transaction costs     (3,382) 0
Proceeds from sale of properties, net     0 655,053
Net cash (used in) provided by investing activities     (7,456) 652,116
CASH FLOWS FROM FINANCING ACTIVITIES:        
Repurchase and retirement of common shares     (7,041) (26,881)
Payments on borrowings     0 (294)
Contributions from holders of noncontrolling interest     0 1
Distributions to common shareholders     (6,024) (1,936)
Distributions to preferred shareholders     (3,994) (3,994)
Distributions to holders of noncontrolling interest     (33) (997)
Redemption of noncontrolling interest     0 (31)
Net cash used in financing activities     (17,092) (34,132)
(Decrease) increase in cash, cash equivalents, and restricted cash     (21,437) 641,233
Cash, cash equivalents, and restricted cash at beginning of period     2,987,225 2,800,645
Cash, cash equivalents, and restricted cash at end of period 2,965,788 3,441,878 2,965,788 3,441,878
SUPPLEMENTAL CASH FLOW INFORMATION:        
Interest paid     0 732
Taxes paid (refunded), net     263 (1,555)
NON-CASH INVESTING ACTIVITIES:        
Accrued capital expenditures     854 2,733
NON-CASH FINANCING ACTIVITIES:        
Distributions payable 2,850 5,791 2,850 5,791
Cash and cash equivalents 2,965,788 3,437,775 2,965,788 3,437,775
Restricted cash 0 4,103 0 4,103
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 2,965,788 $ 3,441,878 $ 2,965,788 $ 3,441,878