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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 39,364 $ 100,356
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on disposition of properties (12,972) (81,965)
Depreciation and amortization 77,245 46,744
Distributions of operating income from unconsolidated affiliates 7,412 4,917
Equity in earnings and gains of unconsolidated affiliates (21,044) (3,592)
Stock compensation expense 9,129 9,729
Amortization of financing costs 3,996 2,025
Impairment of asset 3,840 0
Other, net (8,435) (5,577)
Changes in assets and liabilities:    
Other liabilities (1,556) 134
Prepaid expenses and other assets (8,723) (11,642)
Rents receivable, net (6,646) (4,858)
Restricted cash 3,538 1,733
Accounts payable and accrued expenses (736) (1,511)
Net cash provided by operating activities 84,412 56,493
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of real estate (138,429) (292,136)
Development and property improvement costs (84,554) (94,459)
Issuance of or advances on notes receivable (10,449) (148,203)
Proceeds from the disposition of properties 47,025 150,379
Investments in and advances to unconsolidated affiliates (4,555) (68,153)
Return of capital from unconsolidated affiliates 12,300 50,622
Proceeds from notes receivable 12,000 42,819
Deposits for properties under contract 0 (8,576)
Proceeds from disposition of properties of unconsolidated affiliates 25,735 0
Payment of deferred leasing costs (5,381) (5,451)
Change in control of previously consolidated affiliate 0 (2,578)
Net cash used in investing activities (146,308) (375,736)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgage and other notes (130,736) (292,815)
Principal payments on unsecured debt (143,215) (516,790)
Proceeds received on mortgage and other notes 120,252 70,437
Proceeds from unsecured debt 267,200 616,315
Proceeds from issuance of Common Shares, net of issuance costs of $0 and $1,654, respectively 0 357,262
Capital contributions from noncontrolling interests 20,522 204,412
Distributions to noncontrolling interests (12,813) (74,612)
Dividends paid to Common Shareholders (77,770) (71,674)
Deferred financing and other costs (4,987) (5,288)
Loan proceeds held as restricted cash (107) 8,462
Net cash provided by financing activities 38,346 295,709
Decrease in cash and cash equivalents (23,550) (23,534)
Cash and cash equivalents, beginning of the period 71,805 72,776
Cash and cash equivalents, end of the period 48,255 49,242
Supplemental disclosure of cash flow information    
Cash paid during the period for interest, net of capitalized interest of $12,246 and $14,936, respectively 39,626 28,116
Cash paid for income taxes, net of (refunds) 773 1,267
Supplemental disclosure of non-cash investing activities    
Acquisition of real estate through assumption of debt 0 60,668
Acquisition of real estate through issuance of OP Units 0 29,336
Acquisition of capital lease obligation 0 76,461
Assumption of accounts payable and accrued expenses through acquisition of real estate 2,161 1,809
Acquisition of real estate through conversion of note receivable 9,142 0
Acquisition of undivided interest in a property through conversion of notes receivable 16,005 0
Change in control of previously consolidated investment    
Real estate, net 0 90,559
Investments in and advances to unconsolidated affiliates 0 (21,421)
Other assets and liabilities 0 3,997
Noncontrolling interest 0 (75,713)
Cash removed in de-consolidation of previously consolidated investment $ 0 $ (2,578)