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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:          
Net income $ 105,987 $ 96,832 $ 302,803 $ 178,457  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     157,192 151,476  
Amortization of deferred loan costs and debt premiums     2,821 3,479  
(Accretion) and amortization of above and below market lease intangibles, net     (10,528) (11,174)  
Stock-based compensation, net of capitalization     8,501 5,894  
Equity in income of investments in real estate partnerships (23,842) (435) (36,646) (12,101)  
Gain on sale of real estate, net of tax     (106,239) (31,479)  
Provision for impairment of real estate, net of tax   135   135  
Distribution of earnings from investments in real estate partnerships     29,207 36,545  
Settlement of derivative instruments     (2,472)  
Deferred compensation expense     (7,007) 2,856  
Realized and unrealized (gain) loss on investments     8,033 (3,606)  
Changes in assets and liabilities:          
Tenant and other receivables     (8,252) 12,711  
Deferred leasing costs     (4,263) (4,884)  
Other assets     (8,353) (8,490)  
Accounts payable and other liabilities     (172) 7,168  
Tenants' security, escrow deposits and prepaid rent     660 772  
Net cash provided by operating activities     327,757 325,287  
Cash flows from investing activities:          
Acquisition of operating real estate, net of cash acquired of $2,256 in 2022     (139,775) 500  
Real estate development and capital improvements     (99,470) (72,735)  
Proceeds from sale of real estate     136,421 107,577  
Issuance of notes receivable     (20)  
Investments in real estate partnerships     (11,549) (21,382)  
Return of capital from investments in real estate partnerships     48,473 58,699  
Dividends on investment securities     214 67  
Acquisition of investment securities     (8,313) (14,065)  
Proceeds from sale of investment securities     8,737 14,393  
Net cash (used in) provided by investing activities     (65,262) 73,034  
Cash flows from financing activities:          
Net proceeds from common stock issuance     61,284    
Repurchase of common shares in conjunction with equity award plans     (6,388) (4,017)  
Common units repurchased through share repurchase program     (71,898)    
Proceeds from sale of treasury stock     64 96  
Contributions from (distributions to) limited partners in consolidated partnerships, net     1,234 (1,989)  
Distributions to exchangeable operating partnership unit holders     (950) (907)  
Dividends paid to common stockholders     (213,868) (201,233)  
Proceeds from unsecured credit facilities     75,000  
Repayment of unsecured credit facilities     (75,000) (265,000)  
Repayment of notes payable     (3,962)  
Scheduled principal payments     (5,728) (5,678)  
Payment of loan costs     (82) (7,468)  
Net cash used in financing activities     (236,332) (490,158)  
Net increase (decrease) in cash and cash equivalents and restricted cash     26,163 (91,837)  
Cash and cash equivalents and restricted cash at beginning of the period     95,027 378,450 $ 378,450
Cash and cash equivalents and restricted cash at end of the period 121,190 286,613 121,190 286,613 95,027
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $796 and $849 in 2022 and 2021, respectively)     70,876 70,112  
Cash paid for income taxes, net of refunds     370 314  
Supplemental disclosure of non-cash transactions:          
Common stock and exchangeable operating partnership dividends declared but not paid     108,215 101,520  
Acquisition of real estate previously held within investments in real estate partnerships     17,179    
Mortgage loans assumed by Company with the acquisition of real estate     22,779    
Common stock issued for partnership units exchanged     1,275 99  
Accrued common stock repurchase in Accounts payable and other liabilities     3,521    
Change in accrued capital expenditures     5,050 6,947  
Common stock issued under dividend reinvestment plan 134 392 252 768  
Stock-based compensation capitalized     373 424  
Contributions from limited partners in consolidated partnerships     5,436    
Common stock issued for dividend reinvestment in trust     555 552  
Contribution of stock awards into trust     2,022 1,416  
Distribution of stock held in trust     566 415  
Change in fair value of securities     1,236 272  
Partnership Interest [Member]          
Cash flows from operating activities:          
Net income 105,987 96,832 302,803 178,457  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     157,192 151,476  
Amortization of deferred loan costs and debt premiums     2,821 3,479  
(Accretion) and amortization of above and below market lease intangibles, net     (10,528) (11,174)  
Stock-based compensation, net of capitalization     8,501 5,894  
Equity in income of investments in real estate partnerships (23,842) (435) (36,646) (12,101)  
Gain on sale of real estate, net of tax     (106,239) (31,479)  
Provision for impairment of real estate, net of tax   135   135  
Distribution of earnings from investments in real estate partnerships     29,207 36,545  
Settlement of derivative instruments     (2,472)  
Deferred compensation expense     (7,007) 2,856  
Realized and unrealized (gain) loss on investments     8,033 (3,606)  
Changes in assets and liabilities:          
Tenant and other receivables     (8,252) 12,711  
Deferred leasing costs     (4,263) (4,884)  
Other assets     (8,353) (8,490)  
Accounts payable and other liabilities     (172) 7,168  
Tenants' security, escrow deposits and prepaid rent     660 772  
Net cash provided by operating activities     327,757 325,287  
Cash flows from investing activities:          
Acquisition of operating real estate, net of cash acquired of $2,256 in 2022     (139,775) 500  
Real estate development and capital improvements     (99,470) (72,735)  
Proceeds from sale of real estate     136,421 107,577  
Issuance of notes receivable     (20)  
Investments in real estate partnerships     (11,549) (21,382)  
Return of capital from investments in real estate partnerships     48,473 58,699  
Dividends on investment securities     214 67  
Acquisition of investment securities     (8,313) (14,065)  
Proceeds from sale of investment securities     8,737 14,393  
Net cash (used in) provided by investing activities     (65,262) 73,034  
Cash flows from financing activities:          
Net proceeds from common stock issuance     61,284    
Repurchase of common shares in conjunction with equity award plans     (6,388) (4,017)  
Common units repurchased through share repurchase program     (71,898)    
Proceeds from sale of treasury stock     64 96  
Contributions from (distributions to) limited partners in consolidated partnerships, net     1,234 (1,989)  
Dividends paid to common stockholders     (214,818) (202,140)  
Proceeds from unsecured credit facilities     75,000  
Repayment of unsecured credit facilities     (75,000) (265,000)  
Repayment of notes payable     (3,962)  
Scheduled principal payments     (5,728) (5,678)  
Payment of loan costs     (82) (7,468)  
Net cash used in financing activities     (236,332) (490,158)  
Net increase (decrease) in cash and cash equivalents and restricted cash     26,163 (91,837)  
Cash and cash equivalents and restricted cash at beginning of the period     95,027 378,450 378,450
Cash and cash equivalents and restricted cash at end of the period $ 121,190 $ 286,613 121,190 286,613 $ 95,027
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $796 and $849 in 2022 and 2021, respectively)     70,876 70,112  
Cash paid for income taxes, net of refunds     370 314  
Supplemental disclosure of non-cash transactions:          
Common stock and exchangeable operating partnership dividends declared but not paid     108,215 101,520  
Acquisition of real estate previously held within investments in real estate partnerships     17,179    
Mortgage loans assumed by Company with the acquisition of real estate     22,779    
Common stock issued by Parent Company for partnership units exchanged     1,275 99  
Accrued common stock repurchase in Accounts payable and other liabilities     3,521    
Change in accrued capital expenditures     5,050 6,947  
Common stock issued under dividend reinvestment plan     252 768  
Stock-based compensation capitalized     373 424  
Contributions from limited partners in consolidated partnerships     5,436    
Common stock issued for dividend reinvestment in trust     555 552  
Contribution of stock awards into trust     2,022 1,416  
Distribution of stock held in trust     566 415  
Change in fair value of securities     $ 1,236 $ 272