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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net Income $ 44,320 $ 66,625
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 78,578 74,283
Amortization of debt deferred costs and intangibles, net 1,223 1,392
Non-cash lease expense 581 641
Impairment loss 447 44
Equity in earnings of real estate joint ventures and partnerships, net (8,372) (30,525)
Gain on sale of property (9,611) (21,474)
Distributions of income from real estate joint ventures and partnerships 8,972 18,418
Changes in accrued rent, accrued contract receivables and accounts receivable, net 9,926 9,617
Changes in unamortized lease costs and other assets, net (7,692) (1,925)
Changes in accounts payable, accrued expenses and other liabilities, net 4,711 (10,076)
Other, net 1,995 1,672
Net cash provided by operating activities 125,078 108,692
Cash Flows from Investing Activities:    
Acquisition of real estate and land, net (5,220) (25,506)
Development and capital improvements (31,548) (78,258)
Proceeds from sale of property and real estate equity investments, net 69,692 58,448
Real estate joint ventures and partnerships - Investments (2,075) (4,391)
Real estate joint ventures and partnerships - Distribution of capital 7,416 17,520
Other, net (433) (1,513)
Net cash provided by (used in) investing activities 37,832 (33,700)
Cash Flows from Financing Activities:    
Principal payments of debt (15,996) (20,123)
Changes in unsecured credit facilities (35,998) 12,000
Proceeds from issuance of common shares of beneficial interest, net 712 208
Repurchase of common shares of beneficial interest, net   (18,219)
Common share dividends paid (67,646) (73,994)
Debt issuance and extinguishment costs paid   (6)
Distributions to noncontrolling interests (3,692) (1,594)
Contributions from noncontrolling interests   1,150
Other, net (3,000) (1,439)
Net cash used in financing activities (125,620) (102,017)
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents 37,290 (27,025)
Cash, cash equivalents and restricted cash equivalents at January 1 47,756 55,291
Cash, cash equivalents and restricted cash equivalents at June 30 85,046 28,266
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amount capitalized of $1,375 and $4,573, respectively) 33,121 29,094
Cash paid for income taxes 841 793
Cash paid for amounts included in operating lease liabilities $ 1,592 $ 1,555