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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities:    
Net income $ 16,181 $ 34,628
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 45,560 42,993
Stock-based compensation 7,694 18
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 1,015 1,519
Loss on debt extinguishment 0 16,568
Equity in net income of joint ventures (4,385) (2,171)
Reserve of preferred equity interests, net 0 18,057
Operating cash distributions from joint ventures 794 2,121
Gain on sale of joint venture interest (13,908) (45,681)
Loss (gain) on disposition of real estate, net 20 (773)
Impairment charges 7,270 0
Assumption of buildings due to ground lease terminations 0 (3,025)
Change in notes receivable accrued interest 0 664
Net change in accounts receivable 13,641 4,177
Net change in accounts payable and accrued expenses (13,048) (19,292)
Net change in other operating assets and liabilities (4,724) (13,953)
Total adjustments 39,929 1,222
Net cash flow provided by operating activities 56,110 35,850
Cash flow from investing activities:    
Real estate developed and improvements to operating real estate (18,131) (23,022)
Proceeds from disposition of real estate 11,279 1,060
Proceeds from sale of joint venture interest 16,067 140,519
Equity contributions to joint ventures (92) (86)
Distributions from joint ventures 1,416 3,168
Repayment of notes receivable 0 7,500
Net cash flow provided by investing activities 10,539 129,139
Cash flow from financing activities:    
(Repayment of) proceeds from revolving credit facilities, net (135,000) 640,000
Repayment of senior notes, including repayment costs 0 (216,568)
Repayment of mortgage debt (18,563) (40,436)
Proceeds from issuance of common shares, net of offering expenses 225,529 0
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (4,476) (948)
Repurchase of common shares 0 (7,500)
Distributions to non-controlling interests and redeemable operating partnership units (7) (278)
Dividends paid (14,844) (44,036)
Net cash flow provided by financing activities 52,639 330,234
Effect of foreign exchange rate changes on cash and cash equivalents (1) 8
Net increase in cash, cash equivalents and restricted cash 119,288 495,223
Cash, cash equivalents and restricted cash, beginning of period 74,414 19,133
Cash, cash equivalents and restricted cash, end of period $ 193,701 $ 514,364