XML 18 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES      
Net (loss) income $ (60,039) $ 2,936  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 33,377 30,333  
Distributions of operating income from unconsolidated affiliates 1,898 2,054  
Equity in earnings and gains of unconsolidated affiliates (1,255) (2,271)  
Stock compensation expense 3,819 3,454  
Amortization of financing costs 1,763 1,743  
Impairment charge 51,549    
Gain on disposition of properties   (2,014)  
Credit loss reserves 4,770 445  
Other, net (1,107) (7,059)  
Changes in assets and liabilities:      
Other liabilities (6,844) (7,068)  
Prepaid expenses and other assets 2,107 (390)  
Rents receivable 24 2,283  
Accounts payable and accrued expenses (2,327) (4,661)  
Net cash provided by operating activities 27,735 19,785  
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisition of real estate (19,088) (32,034)  
Development, construction and property improvement costs (13,333) (19,909)  
Issuance of or advances on notes receivable (59,000)    
Proceeds from the disposition of properties, net   9,779  
Investments in and advances to unconsolidated affiliates and other (1,525) (48,983)  
Return of capital from unconsolidated affiliates and other 5,024 1,635  
Return (payment) of deposits for properties under contract 200 (1,952)  
Payment of deferred leasing costs (2,763) (1,549)  
Net cash used in investing activities (90,485) (93,013)  
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal payments on mortgage and other notes (1,488) (8,014)  
Principal payments on unsecured debt (5,000) (124,140)  
Proceeds received on mortgage and other notes 689 101,655  
Proceeds from unsecured debt 122,245 80,940  
Payments of finance lease obligations (625) (625)  
Repurchase of Common Shares (22,352)    
Proceeds from the sale of Common Shares, net   27,834  
Capital contributions from noncontrolling interests 7,268 32,191  
Distributions to noncontrolling interests (4,914) (4,999)  
Dividends paid to Common Shareholders (25,245) (22,836)  
Deferred financing and other costs (222) (3,334)  
Net cash provided by financing activities 70,356 78,672  
Increase in cash and restricted cash 7,606 5,444  
Cash of $15,845 and $21,268 and restricted cash of $14,165 and $13,580, respectively, beginning of period 30,010 34,848 $ 34,848
Cash of $23,404 and $27,765 and restricted cash of $14,212 and $12,527, respectively, end of period 37,616 40,292 $ 30,010
Supplemental disclosure of cash flow information      
Cash paid during the period for interest, net of capitalized interest of $2,938 and $2,575 respectively 14,156 16,898  
Cash paid for income taxes, net of refunds 219 113  
Supplemental disclosure of non-cash investing and financing activities      
Assumption of accounts payable and accrued expenses through acquisition of real estate $ 116 159  
Right-of-use assets, finance leases obtained in exchange for finance lease liabilities   5,664  
Right-of-use assets, finance leases obtained in exchange for assets under capital lease   76,965  
Right-of-use assets, operating leases obtained in exchange for operating lease liabilities   11,871  
Capital lease obligation exchanged for finance lease liability   71,111  
Other liabilities exchanged for operating lease liabilities   $ 946