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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities:    
Consolidated net income $ 120,535 $ 64,177
Adjustments to reconcile Consolidated net income to Net cash provided by operating activities:    
Gain on sale of real estate, net (52,507) 0
Depreciation and amortization 38,404 32,717
Amortization of loan costs 887 871
Debt premium amortization (101) (357)
Equity in income of unconsolidated joint ventures (1,533) (1,195)
Distributions of income from unconsolidated joint ventures 677 490
Proceeds from insurance claims, net 4,150 3,031
Compensation expense related to restricted stock and stock options 2,420 1,800
Revenue recognized from right-to-use contract upfront payments (2,067) (1,877)
Commission expense recognized related to right-to-use contracts 938 901
Long-term incentive plan compensation (3,987) 238
Changes in assets and liabilities:    
Notes receivable activity, net 122 639
Deferred commission expense (1,035) (812)
Other assets, net (9,238) 8,977
Accounts payable and other liabilities 20,402 4,527
Rents and other customer payments received in advance and security deposits 3,202 1,233
Net cash provided by operating activities 128,098 121,701
Cash Flows From Investing Activities:    
Real estate acquisitions, net (13,012) (29,929)
Proceeds from disposition of property, net 77,746 0
Investment in unconsolidated joint ventures 0 (3,791)
Distributions of capital from unconsolidated joint ventures 58 0
Proceeds from insurance claims 761 265
Repayments of notes receivable 0 13,823
Capital improvements 52,441 31,316
Net cash provided by (used in) investing activities 13,112 (50,948)
Cash Flows From Financing Activities:    
Proceeds from stock options and employee stock purchase plan 652 503
Distributions:    
Common Stockholders (49,457) (43,202)
Common OP Unitholders (3,161) (2,844)
Principal payments and mortgage debt payoff (13,683) (11,787)
New mortgage notes payable financing proceeds 0 64,014
Line of Credit payoff 0 (77,000)
Line of Credit proceeds 0 47,000
Debt issuance and defeasance costs (250) (1,645)
Other (63) (57)
Net cash used in financing activities (65,962) (25,018)
Net increase in Cash and restricted cash 75,248 45,735
Cash and restricted cash, beginning of period 68,974 35,631
Cash and restricted cash, end of period 144,222 81,366
Supplemental Information:    
Cash paid during the period for interest 25,729 25,943
Building and other depreciable property – reclassification of rental homes 5,520 9,385
Other assets, net – reclassification of rental homes (5,520) (9,385)
Real estate acquisitions:    
Investment in real estate (25,797) (48,186)
Debt assumed 11,208 9,200
Debt financed 0 8,786
Other liabilities 1,577 271
Real estate acquisitions, net (13,012) (29,929)
Real estate dispositions:    
Investment in real estate 35,572 0
Notes receivable, net 295 0
Other assets, net 97 0
Mortgage notes payable, net (11,175) 0
Other liabilities 450 0
Gain on sale of real estate, net (52,507) 0
Proceeds from disposition of property, net 77,746 0
Right-to-use contract upfront payments, deferred, net    
Changes in assets and liabilities:    
Deferred revenue 3,838 3,162
Right-to-use annual payments    
Changes in assets and liabilities:    
Deferred revenue $ 2,991 $ 3,179