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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flow from operating activities:    
Net income $ 13,955 $ 16,181
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 50,364 45,560
Stock-based compensation 1,823 7,694
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 1,145 1,015
Equity in net income of joint ventures (169) (4,385)
Operating cash distributions from joint ventures 883 794
Gain on change in control of interests (3,356) (13,908)
Loss on disposition of real estate, net 142 20
Impairment charges 0 7,270
Net change in accounts receivable 6,815 13,641
Net change in accounts payable and accrued expenses (14,257) (13,048)
Net change in other operating assets and liabilities (7,324) (4,724)
Total adjustments 36,066 39,929
Net cash flow provided by operating activities 50,021 56,110
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (133,463) 0
Real estate developed and improvements to operating real estate (24,725) (18,131)
Proceeds from disposition of real estate 156 11,279
Equity contributions to joint ventures (55) (92)
Distributions from unconsolidated joint ventures 3,583 17,483
Net cash flow (used for) provided by investing activities (154,504) 10,539
Cash flow from financing activities:    
Proceeds from (repayment of) revolving credit facilities, net 115,000 (135,000)
Repayment of mortgage debt (34,696) (18,563)
Proceeds from issuance of common shares, net of offering expenses 33,781 225,529
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (5,415) (4,476)
Distributions to non-controlling interests and redeemable operating partnership units (17) (7)
Dividends paid (28,208) (14,844)
Net cash flow provided by financing activities 80,445 52,639
Effect of foreign exchange rate changes on cash and cash equivalents 0 (1)
Net (decrease) increase in cash, cash equivalents and restricted cash (24,038) 119,288
Cash, cash equivalents and restricted cash, beginning of period 43,252 74,414
Cash, cash equivalents and restricted cash, end of period $ 19,214 $ 193,701