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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 13,310 $ 57,944 $ 8,101 $ 202,127  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     259,161 282,639  
Amortization of deferred loan costs and debt premiums     7,566 8,533  
(Accretion) and amortization of above and below market lease intangibles, net     (29,847) (30,196)  
Stock-based compensation, net of capitalization     10,654 10,716  
Equity in income of investments in real estate partnerships (8,116) 283 (22,358) (43,673)  
Gain on sale of real estate, net of tax     (48,690) (17,819)  
Provision for impairment of real estate, net of tax   (14) 1,014 12,099  
Goodwill impairment     132,128    
Early extinguishment of debt 19,358 1,391 19,358 11,982  
Distribution of earnings from investments in real estate partnerships     32,659 41,427  
Settlement of derivative instruments       (6,870)  
Deferred compensation expense     1,381 3,551  
Realized and unrealized gain on investments     (1,427) (3,634)  
Changes in assets and liabilities:          
Tenant and other receivables     4,072 520  
Deferred leasing costs     (4,999) (4,695)  
Other assets     (7,670) (7,182)  
Accounts payable and other liabilities     20,223 14,886  
Tenants’ security, escrow deposits and prepaid rent     (6,737) (5,055)  
Net cash provided by operating activities     374,589 469,356  
Cash flows from investing activities:          
Acquisition of operating real estate     (16,867) (222,230)  
Advance deposits refunded (paid) on acquisition of operating real estate     100 (600)  
Real estate development and capital improvements     (149,293) (128,085)  
Proceeds from sale of real estate investments     125,539 98,006  
Issuance of notes receivable     (551)    
Investments in real estate partnerships     (47,957) (57,333)  
Return of capital from investments in real estate partnerships     23,235 46,740  
Dividends on investment securities     193 400  
Acquisition of investment securities     (10,580) (17,955)  
Proceeds from sale of investment securities     10,659 14,748  
Net cash used in investing activities     (65,522) (266,309)  
Cash flows from financing activities:          
Net proceeds from common stock issuance     125,608    
Repurchase of common shares in conjunction with equity award plans     (5,512) (6,165)  
Common shares repurchased through share repurchase program       (32,777)  
Proceeds from sale of treasury stock     269 9  
Distributions to limited partners in consolidated partnerships, net     (2,193) (2,223)  
Distributions to exchangeable operating partnership unit holders     (1,366) (614)  
Dividends paid to common stockholders     (300,538) (292,921)  
Repayment of fixed rate unsecured notes     (300,000) (250,000)  
Proceeds from issuance of fixed rate unsecured notes, net     598,830 723,571  
Proceeds from unsecured credit facilities     610,000 450,000  
Repayment of unsecured credit facilities     (830,000) (710,000)  
Repayment of notes payable     (3,891) (55,030)  
Scheduled principal payments     (8,149) (6,960)  
Payment of loan costs     (5,063) (7,019)  
Early redemption costs     (21,748) (10,647)  
Net cash used in financing activities     (143,753) (200,776)  
Net increase in cash and cash equivalents and restricted cash     165,314 2,271  
Cash and cash equivalents and restricted cash at beginning of the period     115,562 45,190 $ 45,190
Cash and cash equivalents and restricted cash at end of the period 280,876 47,461 280,876 47,461 115,562
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $3,590 and $3,089 in 2020 and 2019, respectively)     121,307 112,055  
Cash paid for income taxes, net of refunds     898 778  
Supplemental disclosure of non-cash transactions:          
Acquisition of real estate previously held within investments in real estate partnerships     5,986    
Mortgage loan assumed with the acquisition of real estate     16,359 26,152  
Mortgage loan assumed by purchaser with the sale of real estate     8,250    
Exchangeable operating partnership units issued for acquisition of real estate   25,869 1,275 25,869  
Change in accrued capital expenditures     16,276 3,185  
Common stock issued under dividend reinvestment plan 382 345 1,138 1,085  
Stock-based compensation capitalized     650 1,719  
(Distributions to) contributions from limited partners in consolidated partnerships, net     (1,420) 66  
Common stock issued for dividend reinvestment in trust     819 732  
Contribution of stock awards into trust     1,439 2,496  
Distribution of stock held in trust     442 197  
Change in fair value of securities     288 509  
Partnership Interest [Member]          
Cash flows from operating activities:          
Net income 13,310 57,944 8,101 202,127  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     259,161 282,639  
Amortization of deferred loan costs and debt premiums     7,566 8,533  
(Accretion) and amortization of above and below market lease intangibles, net     (29,847) (30,196)  
Stock-based compensation, net of capitalization     10,654 10,716  
Equity in income of investments in real estate partnerships (8,116) 283 (22,358) (43,673)  
Gain on sale of real estate, net of tax     (48,690) (17,819)  
Provision for impairment of real estate, net of tax   (14) 1,014 12,099  
Goodwill impairment     132,128    
Early extinguishment of debt 19,358 1,391 19,358 11,982  
Distribution of earnings from investments in real estate partnerships     32,659 41,427  
Settlement of derivative instruments       (6,870)  
Deferred compensation expense     1,381 3,551  
Realized and unrealized gain on investments     (1,427) (3,634)  
Changes in assets and liabilities:          
Tenant and other receivables     4,072 520  
Deferred leasing costs     (4,999) (4,695)  
Other assets     (7,670) (7,182)  
Accounts payable and other liabilities     20,223 14,886  
Tenants’ security, escrow deposits and prepaid rent     (6,737) (5,055)  
Net cash provided by operating activities     374,589 469,356  
Cash flows from investing activities:          
Acquisition of operating real estate     (16,867) (222,230)  
Advance deposits refunded (paid) on acquisition of operating real estate     100 (600)  
Real estate development and capital improvements     (149,293) (128,085)  
Proceeds from sale of real estate investments     125,539 98,006  
Issuance of notes receivable     (551)    
Investments in real estate partnerships     (47,957) (57,333)  
Return of capital from investments in real estate partnerships     23,235 46,740  
Dividends on investment securities     193 400  
Acquisition of investment securities     (10,580) (17,955)  
Proceeds from sale of investment securities     10,659 14,748  
Net cash used in investing activities     (65,522) (266,309)  
Cash flows from financing activities:          
Net proceeds from common stock issuance     125,608    
Repurchase of common shares in conjunction with equity award plans     (5,512) (6,165)  
Common shares repurchased through share repurchase program       (32,777)  
Proceeds from sale of treasury stock     269 9  
Distributions to limited partners in consolidated partnerships, net     (2,193) (2,223)  
Dividends paid to common stockholders     (301,904) (293,535)  
Repayment of fixed rate unsecured notes     (300,000) (250,000)  
Proceeds from issuance of fixed rate unsecured notes, net     598,830 723,571  
Proceeds from unsecured credit facilities     610,000 450,000  
Repayment of unsecured credit facilities     (830,000) (710,000)  
Repayment of notes payable     (3,891) (55,030)  
Scheduled principal payments     (8,149) (6,960)  
Payment of loan costs     (5,063) (7,019)  
Early redemption costs     (21,748) (10,647)  
Net cash used in financing activities     (143,753) (200,776)  
Net increase in cash and cash equivalents and restricted cash     165,314 2,271  
Cash and cash equivalents and restricted cash at beginning of the period     115,562 45,190 45,190
Cash and cash equivalents and restricted cash at end of the period $ 280,876 47,461 280,876 47,461 $ 115,562
Supplemental disclosure of cash flow information:          
Cash paid for interest (net of capitalized interest of $3,590 and $3,089 in 2020 and 2019, respectively)     121,307 112,055  
Cash paid for income taxes, net of refunds     898 778  
Supplemental disclosure of non-cash transactions:          
Acquisition of real estate previously held within investments in real estate partnerships     5,986    
Mortgage loan assumed with the acquisition of real estate     16,359 26,152  
Mortgage loan assumed by purchaser with the sale of real estate     8,250    
Exchangeable operating partnership units issued for acquisition of real estate   $ 25,869 1,275 25,869  
Change in accrued capital expenditures     16,276 3,185  
Common stock issued under dividend reinvestment plan     1,138 1,085  
Stock-based compensation capitalized     650 1,719  
(Distributions to) contributions from limited partners in consolidated partnerships, net     (1,420) 66  
Common stock issued for dividend reinvestment in trust     819 732  
Contribution of stock awards into trust     1,439 2,496  
Distribution of stock held in trust     442 197  
Change in fair value of securities     $ 288 $ 509