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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Cash flows from operating activities:          
Net income $ 57,944 $ 70,534 $ 202,127 $ 172,588  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     282,639 266,812  
Amortization of deferred loan costs and debt premiums     8,533 7,599  
(Accretion) and amortization of above and below market lease intangibles, net     (30,196) (26,031)  
Stock-based compensation, net of capitalization     10,716 10,012  
Equity in income of investments in real estate partnerships 283 (10,024) (43,673) (29,548)  
Gain on sale of real estate, net of tax     (17,819) (4,448)  
Provision for impairment, net of tax (14) 855 12,099 29,443  
Early extinguishment of debt 1,391   11,982 11,172  
Distribution of earnings from investments in real estate partnerships     41,427 40,366  
Settlement of derivative instruments     (6,870) 0  
Deferred compensation expense     3,551 1,475  
Realized and unrealized gain on investments     (3,634) (1,524)  
Changes in assets and liabilities:          
Tenant and other receivables     520 (13,326)  
Deferred leasing costs     (4,695) (6,259)  
Other assets     (7,182) (6,565)  
Accounts payable and other liabilities     14,886 15,100  
Tenants’ security, escrow deposits and prepaid rent     (5,055) (2,111)  
Net cash provided by operating activities     469,356 464,755  
Cash flows from investing activities:          
Acquisition of operating real estate     (222,230) (85,766)  
Advance deposits paid on acquisition of operating real estate     (600) (150)  
Real estate development and capital improvements     (128,085) (174,145)  
Proceeds from sale of real estate investments     98,006 151,142  
Collection of notes receivable     0 15,648  
Investments in real estate partnerships     (57,333) (58,372)  
Return of capital from investments in real estate partnerships     46,740 5,488  
Dividends on investment securities     400 281  
Acquisition of investment securities     (17,955) (16,946)  
Proceeds from sale of investment securities     14,748 15,639  
Net cash used in investing activities     (266,309) (147,181)  
Cash flows from financing activities:          
Repurchase of common shares in conjunction with equity award plans     (6,165) (6,772)  
Common shares repurchased through share repurchase program     (32,777) (124,989)  
Proceeds from sale of treasury stock     9 99  
Distributions to limited partners in consolidated partnerships, net     (2,223) (3,457)  
Distributions to exchangeable operating partnership unit holders     (614) (582)  
Dividends paid to common stockholders     (292,921) (282,276)  
Repayment of fixed rate unsecured notes     (250,000) (150,000)  
Proceeds from issuance of fixed rate unsecured notes, net     723,571 299,511  
Proceeds from unsecured credit facilities     450,000 455,000  
Repayment of unsecured credit facilities     (710,000) (370,000)  
Proceeds from notes payable     0 1,740  
Repayment of notes payable     (55,030) (113,037)  
Scheduled principal payments     (6,960) (7,767)  
Payment of loan costs     (7,019) (9,448)  
Early redemption costs     (10,647) (10,491)  
Net cash used in financing activities     (200,776) (322,469)  
Net increase (decrease) in cash and cash equivalents and restricted cash     2,271 (4,895)  
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 47,461 44,486 47,461 44,486 45,190
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $3,089 and $5,820 in 2019 and 2018, respectively)     112,055 104,210  
Cash paid for income taxes, net of refunds     778 4,771  
Supplemental disclosure of non-cash transactions:          
Mortgage loans for the acquisition of real estate     26,152 9,700  
Exchangeable operating partnership units issued for acquisition of real estate     25,869    
Change in accrued capital expenditures     3,185    
Common stock issued under dividend reinvestment plan 345 318 1,085 996  
Stock-based compensation capitalized     1,719 2,606  
Contributions from limited partners in consolidated partnerships, net     66    
Common stock issued for dividend reinvestment in trust     732 627  
Contribution of stock awards into trust     2,496 1,244  
Distribution of stock held in trust     197 524  
Change in fair value of securities     509 5  
Partnership Interest [Member]          
Cash flows from operating activities:          
Net income 57,944 70,534 202,127 172,588  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     282,639 266,812  
Amortization of deferred loan costs and debt premiums     8,533 7,599  
(Accretion) and amortization of above and below market lease intangibles, net     (30,196) (26,031)  
Stock-based compensation, net of capitalization     10,716 10,012  
Equity in income of investments in real estate partnerships 283 (10,024) (43,673) (29,548)  
Gain on sale of real estate, net of tax     (17,819) (4,448)  
Provision for impairment, net of tax (14) 855 12,099 29,443  
Early extinguishment of debt 1,391   11,982 11,172  
Distribution of earnings from investments in real estate partnerships     41,427 40,366  
Settlement of derivative instruments     (6,870) 0  
Deferred compensation expense     3,551 1,475  
Realized and unrealized gain on investments     (3,634) (1,524)  
Changes in assets and liabilities:          
Tenant and other receivables     520 (13,326)  
Deferred leasing costs     (4,695) (6,259)  
Other assets     (7,182) (6,565)  
Accounts payable and other liabilities     14,886 15,100  
Tenants’ security, escrow deposits and prepaid rent     (5,055) (2,111)  
Net cash provided by operating activities     469,356 464,755  
Cash flows from investing activities:          
Acquisition of operating real estate     (222,230) (85,766)  
Advance deposits paid on acquisition of operating real estate     (600) (150)  
Real estate development and capital improvements     (128,085) (174,145)  
Proceeds from sale of real estate investments     98,006 151,142  
Issuance of notes receivable     0 15,648  
Investments in real estate partnerships     (57,333) (58,372)  
Return of capital from investments in real estate partnerships     46,740 5,488  
Dividends on investment securities     400 281  
Acquisition of investment securities     (17,955) (16,946)  
Proceeds from sale of investment securities     14,748 15,639  
Net cash used in investing activities     (266,309) (147,181)  
Cash flows from financing activities:          
Repurchase of common shares in conjunction with equity award plans     (6,165) (6,772)  
Common shares repurchased through share repurchase program     (32,777) (124,989)  
Proceeds from sale of treasury stock     9 99  
Distributions to limited partners in consolidated partnerships, net     (2,223) (3,457)  
Dividends paid to common stockholders     (293,535) (282,858)  
Repayment of fixed rate unsecured notes     (250,000) (150,000)  
Proceeds from issuance of fixed rate unsecured notes, net     723,571 299,511  
Proceeds from unsecured credit facilities     450,000 455,000  
Repayment of unsecured credit facilities     (710,000) (370,000)  
Proceeds from notes payable     0 1,740  
Repayment of notes payable     (55,030) (113,037)  
Scheduled principal payments     (6,960) (7,767)  
Payment of loan costs     (7,019) (9,448)  
Early redemption costs     (10,647) (10,491)  
Net cash used in financing activities     (200,776) (322,469)  
Net increase (decrease) in cash and cash equivalents and restricted cash     2,271 (4,895)  
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 $ 47,461 $ 44,486 47,461 44,486 $ 45,190
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $3,089 and $5,820 in 2019 and 2018, respectively)     112,055 104,210  
Cash paid for income taxes, net of refunds     778 4,771  
Supplemental disclosure of non-cash transactions:          
Mortgage loans for the acquisition of real estate     26,152 9,700  
Exchangeable operating partnership units issued for acquisition of real estate     25,869    
Change in accrued capital expenditures     3,185    
Common stock issued under dividend reinvestment plan     1,085 996  
Stock-based compensation capitalized     1,719 2,606  
Contributions from limited partners in consolidated partnerships, net     66    
Common stock issued for dividend reinvestment in trust     732 627  
Contribution of stock awards into trust     2,496 1,244  
Distribution of stock held in trust     197 524  
Change in fair value of securities     $ 509 $ 5