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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net Income $ 94,086 $ 245,283
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 112,229 102,319
Amortization of debt deferred costs and intangibles, net 2,085 2,437
Non-cash lease expense 942 916
Impairment loss 44 74
Equity in earnings of real estate joint ventures and partnerships, net (35,339) (17,780)
Gain on sale of property (31,742) (143,963)
Uncollectible revenue allowance 11,884  
Distributions of income from real estate joint ventures and partnerships 21,763 14,909
Changes in accrued rent, accrued contract receivables and accounts receivable, net (8,341) 14,206
Changes in unamortized lease costs and other assets, net (3,565) (8,260)
Changes in accounts payable, accrued expenses and other liabilities, net 2,830 (3,633)
Other, net 2,555 2,643
Net cash provided by operating activities 169,431 209,151
Cash Flows from Investing Activities:    
Acquisition of real estate and land, net (28,486) (54,069)
Development and capital improvements (113,332) (130,857)
Proceeds from sale of property and real estate equity investments, net 111,700 358,531
Real estate joint ventures and partnerships - Investments (8,280) (68,200)
Real estate joint ventures and partnerships - Distribution of capital 19,021 2,344
Proceeds from investments   10,125
Other, net (1,950) 49
Net cash (used in) provided by investing activities (21,327) 117,923
Cash Flows from Financing Activities:    
Principal payments of debt (21,542) (54,226)
Changes in unsecured credit facilities 0 (5,000)
Proceeds from issuance of common shares of beneficial interest, net 208 844
Repurchase of common shares of beneficial interest, net (18,219) 0
Common share dividends paid (97,060) (152,467)
Debt issuance and extinguishment costs paid (6) (316)
Distributions to noncontrolling interests (1,974) (3,807)
Contributions from noncontrolling interests 1,150 326
Other, net (1,456) (1,885)
Net cash used in financing activities (138,899) (216,531)
Net increase in cash, cash equivalents and restricted cash equivalents 9,205 110,543
Cash, cash equivalents and restricted cash equivalents at January 1 55,291 76,137
Cash, cash equivalents and restricted cash equivalents at September 30 64,496 186,680
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amount capitalized of $6,644 and $9,897, respectively) 47,133 45,757
Cash paid for income taxes 793 1,456
Cash paid for amounts included in operating lease liabilities $ 2,116 $ 2,215