XML 48 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 61,062 $ 35,679
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 20,443 18,491
Amortization of Debt Issuance Costs 1,173 1,263
Amortization of commitment fees 129 119
Amortization of lease incentives 236 168
Straight-line rental income 5,177 5,228
Non-cash interest income on construction loan (888) (548)
Gains (Losses) on Sales of Investment Real Estate 21,007 0
Income (Loss) from Equity Method Investments (442) 0
Loan and realty losses 1,555 2,500
Payment of Tenant Lease Incentives 0 (1,250)
Share-based compensation 1,845 2,001
Change in operating assets and liabilities:    
Other assets 357 (2,961)
Accounts payable and accrued expenses (1,497) 1,597
Deferred income (619) 16,322
Net cash provided by operating activities 57,082 73,837
Cash flows from investing activities:    
Investment in mortgage and other notes receivable (20,298) (11,002)
Collection of mortgage and other notes receivable 14,288 300
Investment in real estate (80,335) (50,122)
Payments to Renovate Real Estate (3,057) (4,215)
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans 39,260 0
Net cash used in investing activities (51,017) (65,039)
Cash flows from financing activities:    
Proceeds from revolving credit facilities 125,000 95,000
Payments on revolving credit facilities (17,000) (90,000)
Repayments of Long-term Debt 304 296
Debt issuance costs 0 (67)
Payments to Noncontrolling Interests 16 0
Proceeds from Noncontrolling Interests 13 0
Value of shares withheld from options exercised for employee tax withholding (2,705) (1,006)
Proceeds from issuance of common shares, net 0 35,913
Payments of Stock Issuance Costs 87 0
Dividends paid to stockholders (46,817) (42,700)
Net cash provided by (used in) financing activities 58,084 (3,156)
Increase in cash and cash equivalents and restricted cash 64,149 5,642
Cash and cash equivalents and restricted cash, beginning of period 79,818 15,554
Supplemental disclosure of cash flow information:    
Interest paid, net of amounts capitalized 12,462 11,901
Supplemental schedule of non-cash investing and financing activities:    
Change in straight-line rent receivable related to investments in real estate 0 38,000
Change in mortgage notes receivable related to investments in real estate 59,350 0
Increase in mortgage note receivable from sale of real estate 4,000 0
Change in other assets related to investments in real estate 0 176
Change in accounts payable related to investments in real estate construction (234) (1,048)
Change in accounts payable related to investments in real estate acquisition 0 1,178
Payments to Acquire Equity Method Investments $ 875 $ 0