XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 121,566 $ 111,528
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 50,006 43,668
Amortization 4,154 2,663
Straight-line rental income (18,956) (16,583)
Non-cash interest income on construction loan (708) (668)
Gain on sale of real estate (50) (4,582)
Loss on modification and extinguishment of debt 591 0
Non-cash write-offs due to lease transition 0 15,856
Gain on sale of equity-method investee 0 (1,657)
Gain on sale of marketable securities (10,038) (23,498)
Share-based compensation 2,270 1,481
Amortization of commitment fees (393) (303)
Amortization of lease incentives 69 0
Loss from equity-method investee 0 1,214
Change in operating assets and liabilities:    
Other assets (4,825) 34
Accounts payable and accrued expenses 2,274 163
Net cash provided by operating activities 145,960 129,316
Cash flows from investing activities:    
Investment in mortgage and other notes receivable (44,729) (75,522)
Collection of mortgage and other notes receivable 30,025 16,461
Investment in real estate (133,251) (288,965)
Investment in real estate development (9,901) (24,499)
Investment in renovations of existing real estate (5,614) (913)
Payment allocated to lease purchase option 0 6,400
Long-term escrow deposit 0 4,500
Proceeds from disposition of real estate properties 450 27,723
Proceeds from sales of marketable securities 18,182 56,449
Net cash used in investing activities (144,838) (300,166)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities 9,000 94,600
Borrowings on term loans 250,000 75,000
Payments on term loans (250,593) (573)
Debt issuance costs 4,149 114
Value of shares withheld from options exercised for employee tax withholding (586) (1,135)
Proceeds from issuance of common shares, net 122,198 104,190
Consideration provided in convertible bond repurchase (14,312) 0
Distributions to noncontrolling interest 0 (1,305)
Distribution to acquire non-controlling interest 0 (6,462)
Dividends paid to stockholders (113,586) (102,440)
Net cash provided by (used in) financing activities (2,028) 161,761
(Decrease) increase in cash and cash equivalents (906) (9,089)
Cash and cash equivalents, beginning of year 4,832 13,286
Cash and cash equivalents, end of year 3,926  
Supplemental disclosure of cash flow information:    
Interest Paid 32,004 27,395
Supplemental schedule of non-cash investing and financing activities:    
Change in accounts payable related to acquisition of non-controlling interest 0 10,546
Accounts payable related to investments in real estate 1,500 980
Tenant investment in leased asset 1,250 0
Conversion of note balance into real estate investment $ 0 $ 9,753