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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Cash flows from operating activities:          
Net income $ 52,690 $ 48,589 $ 144,183 $ 102,054  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     190,783 177,629  
Amortization of deferred loan costs and debt premiums     5,911 4,999  
(Accretion) and amortization of above and below market lease intangibles, net     (19,496) (19,326)  
Stock-based compensation, net of capitalization     6,989 6,574  
Equity in income of investments in real estate partnerships (13,128) (9,174) (43,955) (19,523)  
Gain on sale of real estate, net of tax     (16,932) (1,219)  
Provision for impairment, net of tax 10,441 12,533 12,113 28,587  
Early extinguishment of debt   11,010 10,591 11,172  
Distribution of earnings from operations of investments in real estate partnerships     25,659 26,711  
Settlement of derivative instruments     (5,719) 0  
Deferred compensation expense     3,297 544  
Realized and unrealized gain on investments     (3,299) (530)  
Changes in assets and liabilities:          
Tenant and other receivables     6,975 (3,802)  
Deferred leasing costs     (4,782) (3,404)  
Other assets     (7,628) (6,174)  
Accounts payable and other liabilities     (3,292) (6,052)  
Tenants’ security, escrow deposits and prepaid rent     (12,075) 2,666  
Net cash provided by operating activities     289,323 300,906  
Cash flows from investing activities:          
Acquisition of operating real estate     (19,302) (85,766)  
Advance deposits paid on acquisition of operating real estate     (11,000) (2,025)  
Real estate development and capital improvements     (80,032) (120,579)  
Proceeds from sale of real estate investments     83,460 42,508  
Collection of notes receivable     0 15,648  
Investments in real estate partnerships     (32,970) (45,451)  
Distributions received from investments in real estate partnerships     46,740 2,328  
Dividends on investment securities     264 176  
Acquisition of investment securities     (11,498) (11,726)  
Proceeds from sale of investment securities     10,828 10,976  
Net cash used in investing activities     (13,510) (193,911)  
Cash flows from financing activities:          
Repurchase of common shares in conjunction with equity award plans     (6,148) (6,755)  
Common shares repurchased through share repurchase program     (32,778) (124,989)  
Proceeds from sale of treasury stock     9 99  
Distributions to limited partners in consolidated partnerships, net     (968) (2,159)  
Distributions to exchangeable operating partnership unit holders     (409) (389)  
Dividends paid to common stockholders     (195,246) (188,559)  
Repayment of fixed rate unsecured notes     (250,000) (150,000)  
Proceeds from issuance of fixed rate unsecured notes, net     298,983 299,511  
Proceeds from unsecured credit facilities     185,000 400,000  
Repayment of unsecured credit facilities     (210,000) (310,000)  
Proceeds from notes payable     0 1,740  
Repayment of notes payable     (53,530) (6,199)  
Scheduled principal payments     (4,562) (5,513)  
Payment of loan costs     (3,343) (9,432)  
Early redemption costs     (10,647) (10,491)  
Net cash used in financing activities     (283,639) (113,136)  
Net decrease in cash and cash equivalents and restricted cash     (7,826) (6,141)  
Cash and cash equivalents and restricted cash at beginning of the period     45,190 49,381 $ 49,381
Cash and cash equivalents and restricted cash at end of the period 37,364 43,240 37,364 43,240 45,190
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $1,996 and $4,150 in 2019 and 2018, respectively)     68,351 66,692  
Cash paid for income taxes, net of refunds     459 290  
Supplemental disclosure of non-cash transactions:          
Mortgage loans assumed for the acquisition of real estate       9,700  
Change in accrued capital expenditures     9,149    
Common stock issued by Parent Company for dividend reinvestment plan 357 320 740 678  
Stock-based compensation capitalized     1,105 1,777  
Contributions from limited partners in consolidated partnerships, net     66    
Common stock issued for dividend reinvestment in trust     479 415  
Contribution of stock awards into trust     2,397 1,174  
Distribution of stock held in trust     167 524  
Change in fair value of debt securities available-for-sale     260 (89)  
Partnership Interest [Member]          
Cash flows from operating activities:          
Net income 52,690 48,589 144,183 102,054  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     190,783 177,629  
Amortization of deferred loan costs and debt premiums     5,911 4,999  
(Accretion) and amortization of above and below market lease intangibles, net     (19,496) (19,326)  
Stock-based compensation, net of capitalization     6,989 6,574  
Equity in income of investments in real estate partnerships (13,128) (9,174) (43,955) (19,523)  
Gain on sale of real estate, net of tax     (16,932) (1,219)  
Provision for impairment, net of tax 10,441 12,533 12,113 28,587  
Early extinguishment of debt   11,010 10,591 11,172  
Distribution of earnings from operations of investments in real estate partnerships     25,659 26,711  
Settlement of derivative instruments     (5,719) 0  
Deferred compensation expense     3,297 544  
Realized and unrealized gain on investments     (3,299) (530)  
Changes in assets and liabilities:          
Tenant and other receivables     6,975 (3,802)  
Deferred leasing costs     (4,782) (3,404)  
Other assets     (7,628) (6,174)  
Accounts payable and other liabilities     (3,292) (6,052)  
Tenants’ security, escrow deposits and prepaid rent     (12,075) 2,666  
Net cash provided by operating activities     289,323 300,906  
Cash flows from investing activities:          
Acquisition of operating real estate     (19,302) (85,766)  
Advance deposits paid on acquisition of operating real estate     (11,000) (2,025)  
Real estate development and capital improvements     (80,032) (120,579)  
Proceeds from sale of real estate investments     83,460 42,508  
Issuance of notes receivable     0 15,648  
Investments in real estate partnerships     (32,970) (45,451)  
Distributions received from investments in real estate partnerships     46,740 2,328  
Dividends on investment securities     264 176  
Acquisition of investment securities     (11,498) (11,726)  
Proceeds from sale of investment securities     10,828 10,976  
Net cash used in investing activities     (13,510) (193,911)  
Cash flows from financing activities:          
Repurchase of common shares in conjunction with equity award plans     (6,148) (6,755)  
Common shares repurchased through share repurchase program     (32,778) (124,989)  
Proceeds from sale of treasury stock     9 99  
Distributions to limited partners in consolidated partnerships, net     (968) (2,159)  
Dividends paid to common stockholders     (195,655) (188,948)  
Repayment of fixed rate unsecured notes     (250,000) (150,000)  
Proceeds from issuance of fixed rate unsecured notes, net     298,983 299,511  
Proceeds from unsecured credit facilities     185,000 400,000  
Repayment of unsecured credit facilities     (210,000) (310,000)  
Proceeds from notes payable     0 1,740  
Repayment of notes payable     (53,530) (6,199)  
Scheduled principal payments     (4,562) (5,513)  
Payment of loan costs     (3,343) (9,432)  
Early redemption costs     (10,647) (10,491)  
Net cash used in financing activities     (283,639) (113,136)  
Net decrease in cash and cash equivalents and restricted cash     (7,826) (6,141)  
Cash and cash equivalents and restricted cash at beginning of the period     45,190 49,381 49,381
Cash and cash equivalents and restricted cash at end of the period $ 37,364 $ 43,240 37,364 43,240 $ 45,190
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $1,996 and $4,150 in 2019 and 2018, respectively)     68,351 66,692  
Cash paid for income taxes, net of refunds     459 290  
Supplemental disclosure of non-cash transactions:          
Mortgage loans assumed for the acquisition of real estate       9,700  
Change in accrued capital expenditures     9,149    
Common stock issued by Parent Company for dividend reinvestment plan     740 678  
Stock-based compensation capitalized     1,105 1,777  
Contributions from limited partners in consolidated partnerships, net     66    
Common stock issued for dividend reinvestment in trust     479 415  
Contribution of stock awards into trust     2,397 1,174  
Distribution of stock held in trust     167 524  
Change in fair value of debt securities available-for-sale     $ 260 $ (89)