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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from operating activities:    
Net income $ 140,577 $ 66,325
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 152,564 137,446
Stock-based compensation 5,430 11,698
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 3,929 3,210
Equity in net income of joint ventures (27,468) (11,059)
Operating cash distributions from joint ventures 1,111 2,840
Gain on sale and change in control of interests (45,554) (13,943)
Gain on disposition of real estate, net (31,292) (6,069)
Impairment charges 2,536 7,270
Assumption of buildings due to ground lease terminations (2,900) 0
Net change in accounts receivable 95 18,391
Net change in accounts payable and accrued expenses 8,025 5,143
Net change in other operating assets and liabilities (1,567) (3,888)
Total adjustments 64,909 151,039
Net cash flow provided by operating activities 205,486 217,364
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (329,570) (62,610)
Real estate developed and improvements to operating real estate (87,902) (55,677)
Proceeds from disposition of joint venture interests 39,250 0
Proceeds from disposition of real estate 55,866 29,793
Equity contributions to joint ventures (143) (247)
Distributions from unconsolidated joint ventures 39,656 23,081
Repayment of joint venture advances, net 0 929
Net cash flow used for investing activities (282,843) (64,731)
Cash flow from financing activities:    
Proceeds from (repayment of) revolving credit facilities, net 80,000 (135,000)
Proceeds from unsecured term loan 100,000 0
Payment of debt issuance costs (7,598) 0
Repayment of mortgage debt (35,577) (25,613)
Proceeds from issuance of common shares, net of offering expenses 36,731 225,166
Redemption of preferred shares 0 (150,019)
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (5,873) (4,878)
Repurchase of common shares (20,000) 0
Distributions to non-controlling interests and redeemable operating partnership units (53) (39)
Dividends paid (89,523) (71,325)
Net cash flow provided by (used for) financing activities 58,107 (161,708)
Effect of foreign exchange rate changes on cash and cash equivalents 0 (1)
Net decrease in cash, cash equivalents and restricted cash (19,250) (9,075)
Cash, cash equivalents and restricted cash, beginning of period 43,252 74,414
Cash, cash equivalents and restricted cash, end of period $ 24,002 $ 65,338