XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 38,432 $ 44,230
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,335 16,144
Amortization 1,069 1,337
Straight-line rental income (5,962) (5,755)
Non-cash interest income on construction loan (436) (271)
Gain on sale of real estate 0 (50)
Loss on modification and extinguishment of debt 738 0
Gain on sale of marketable securities 0 (10,038)
Share-based compensation 1,425 1,523
Amortization of commitment fees (552) (104)
Amortization of lease incentives 63 10
Change in operating assets and liabilities:    
Other assets (4,245) (657)
Accounts payable and accrued expenses 641 2,306
Net cash provided by operating activities 48,508 48,675
Cash flows from investing activities:    
Investment in mortgage and other notes receivable (5,905) (28,338)
Collection of mortgage and other notes receivable 2,535 12,109
Investment in real estate (14,404) (118,011)
Investment in real estate development 0 (3,842)
Investment in renovations of existing real estate (1,812) (994)
Proceeds from disposition of real estate properties 0 450
Proceeds from sales of marketable securities 0 18,182
Net cash used in investing activities (19,586) (120,444)
Cash flows from financing activities:    
Proceeds from revolving credit facilities 56,000 112,000
Payments on revolving credit facilities (15,000) (83,000)
Payments on term loans (285) (196)
Value of shares withheld from options exercised for employee tax withholding 0 (116)
Proceeds from issuance of common shares, net 0 79,797
Deferred offering costs (56) 0
Consideration provided in convertible bond repurchase (29,958) 0
Dividends paid to stockholders (39,456) (35,863)
Net cash provided by (used in) financing activities (28,755) 72,622
(Decrease) increase in cash and cash equivalents 167 853
Cash and cash equivalents, beginning of year 3,063 4,832
Cash and cash equivalents, end of year 3,230 5,685
Supplemental disclosure of cash flow information:    
Interest Paid 9,904 9,164
Supplemental schedule of non-cash investing and financing activities:    
Accounts payable related to investments in real estate 290 824
Tenant investment in leased asset $ 1,275 $ 1,250