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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 47,317 $ 243,258 $ 252,325
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 345,900 374,283 359,688
Amortization of deferred loan costs and debt premiums 9,023 11,170 10,476
(Accretion) and amortization of above and below market lease intangibles, net (40,540) (43,867) (33,330)
Stock-based compensation, net of capitalization 13,581 14,339 13,635
Equity in income of investments in real estate partnerships (34,169) (60,956) (42,974)
Gain on sale of real estate, net of tax (67,465) (24,242) (28,343)
Provision for impairment of real estate, net of tax 18,536 54,174 38,437
Goodwill impairment 132,128 0 0
Early extinguishment of debt 21,837 11,982 11,172
Distribution of earnings from investments in real estate partnerships 47,703 56,297 54,266
Settlement of derivative instrument 0 (6,870) 0
Deferred compensation expense 4,668 5,169 (1,085)
Realized and unrealized gain on investments (5,519) (5,433) 1,177
Changes in assets and liabilities:      
Tenant and other receivables 16,944 (4,690) (26,374)
Deferred leasing costs (6,973) (6,777) (8,366)
Other assets (1,200) (1,570) (1,410)
Accounts payable and other liabilities 997 4,175 (760)
Tenants’ security, escrow deposits and prepaid rent (3,650) 829 11,793
Net cash provided by operating activities 499,118 621,271 610,327
Cash flows from investing activities:      
Acquisition of operating real estate (16,867) (222,444) (85,289)
Advance deposits refunded (paid) on acquisition of operating real estate 100 (125) 0
Real estate development and capital improvements (180,804) (200,012) (226,191)
Proceeds from sale of real estate investments 189,444 137,572 250,445
Proceeds from property insurance casualty claims 7,957 9,350 0
(Issuance) collection of notes receivable (1,340) (547) 15,648
Investments in real estate partnerships (51,440) (66,921) (74,238)
Return of capital from investments in real estate partnerships 32,125 63,693 14,647
Dividends on investment securities 353 660 531
Acquisition of investment securities (25,155) (23,458) (23,164)
Proceeds from sale of investment securities 19,986 19,539 21,587
Net cash used in investing activities (25,641) (282,693) (106,024)
Cash flows from financing activities:      
Net proceeds from common stock issuance 125,608 0 0
Repurchase of common shares/units in conjunction with tax withholdings on equity award plans (5,512) (6,204) (6,772)
Proceeds from sale of treasury stock 269 9 99
Common shares repurchased through share repurchase program 0 (32,778) (213,851)
Distributions to limited partners in consolidated partnerships, net (2,770) (3,367) (4,526)
Distributions to exchangeable operating partnership unit holders (1,366) (1,051) (777)
Dividends paid to common stockholders/ Distributions to partners (300,537) (390,598) (375,978)
Repayment of fixed rate unsecured notes (300,000) (250,000) (150,000)
Proceeds from issuance of fixed rate unsecured notes, net 598,830 723,571 299,511
Proceeds from unsecured credit facilities 610,000 560,000 575,000
Repayment of unsecured credit facilities (830,000) (785,000) (490,000)
Proceeds from notes payable 0 0 1,740
Repayment of notes payable (67,189) (55,680) (113,037)
Scheduled principal payments (11,104) (9,442) (9,964)
Payment of loan costs (5,063) (7,019) (9,448)
Early redemption costs (21,755) (10,647) (10,491)
Net cash used in financing activities (210,589) (268,206) (508,494)
Net increase (decrease) in cash, cash equivalents, and restricted cash 262,888 70,372 (4,191)
Cash, cash equivalents, and restricted cash at beginning of the year 115,562 45,190 49,381
Cash, cash equivalents, and restricted cash at end of the year 378,450 115,562 45,190
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of capitalized interest of $4,355, $4,192, and $7,020 in 2020, 2019, and 2018, respectively) 151,338 136,139 136,645
Cash paid for income taxes, net of refunds 1,870 1,225 5,455
Supplemental disclosure of non-cash transactions:      
Exchangeable operating partnership units issued for acquisition of real estate 1,275 25,870  
Acquisition of real estate previously held within investments in real estate partnerships 5,986    
Mortgage loans for the acquisition of real estate 16,359 26,152 9,700
Mortgage loan assumed by purchaser with the sale of real estate 8,250    
Change in fair value of securities 315 660 (206)
Change in accrued capital expenditures 12,166 10,704  
Common stock issued for dividend reinvestment plan 1,139 1,429 1,333
Stock-based compensation capitalized 1,119 2,325 3,509
Common stock and exchangeable operating partnership dividends declared but not yet paid 101,412    
Common stock issued for dividend reinvestment in trust 819 987 841
Contribution of stock awards into trust 1,524 2,582 1,314
Distribution of stock held in trust 1,052 197 524
Common stock issued under dividend reinvestment plan 1,139 1,429 1,333
(Distributions to) Contributions from limited partners in consolidated partnerships, net (1,512) 66 13,000
Partnership Interest [Member]      
Cash flows from operating activities:      
Net income 47,317 243,258 252,325
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 345,900 374,283 359,688
Amortization of deferred loan costs and debt premiums 9,023 11,170 10,476
(Accretion) and amortization of above and below market lease intangibles, net (40,540) (43,867) (33,330)
Stock-based compensation, net of capitalization 13,581 14,339 13,635
Equity in income of investments in real estate partnerships (34,169) (60,956) (42,974)
Gain on sale of real estate, net of tax (67,465) (24,242) (28,343)
Provision for impairment of real estate, net of tax 18,536 54,174 38,437
Goodwill impairment 132,128 0 0
Early extinguishment of debt 21,837 11,982 11,172
Distribution of earnings from investments in real estate partnerships 47,703 56,297 54,266
Settlement of derivative instrument 0 (6,870) 0
Deferred compensation expense 4,668 5,169 (1,085)
Realized and unrealized gain on investments (5,519) (5,433) 1,177
Changes in assets and liabilities:      
Tenant and other receivables 16,944 (4,690) (26,374)
Deferred leasing costs (6,973) (6,777) (8,366)
Other assets (1,200) (1,570) (1,410)
Accounts payable and other liabilities 997 4,175 (760)
Tenants’ security, escrow deposits and prepaid rent (3,650) 829 11,793
Net cash provided by operating activities 499,118 621,271 610,327
Cash flows from investing activities:      
Acquisition of operating real estate (16,867) (222,444) (85,289)
Advance deposits refunded (paid) on acquisition of operating real estate 100 (125) 0
Real estate development and capital improvements (180,804) (200,012) (226,191)
Proceeds from sale of real estate investments 189,444 137,572 250,445
Proceeds from property insurance casualty claims 7,957 9,350 0
(Issuance) collection of notes receivable (1,340) (547) 15,648
Investments in real estate partnerships (51,440) (66,921) (74,238)
Return of capital from investments in real estate partnerships 32,125 63,693 14,647
Dividends on investment securities 353 660 531
Acquisition of investment securities (25,155) (23,458) (23,164)
Proceeds from sale of investment securities 19,986 19,539 21,587
Net cash used in investing activities (25,641) (282,693) (106,024)
Cash flows from financing activities:      
Net proceeds from common stock issuance 125,608    
Repurchase of common shares/units in conjunction with tax withholdings on equity award plans (5,512) (6,204) (6,772)
Proceeds from sale of treasury stock 269 9 99
Common shares repurchased through share repurchase program 0 (32,778) (213,851)
Distributions to limited partners in consolidated partnerships, net (2,770) (3,367) (4,526)
Dividends paid to common stockholders/ Distributions to partners (301,903) (391,649) (376,755)
Repayment of fixed rate unsecured notes (300,000) (250,000) (150,000)
Proceeds from issuance of fixed rate unsecured notes, net 598,830 723,571 299,511
Proceeds from unsecured credit facilities 610,000 560,000 575,000
Repayment of unsecured credit facilities (830,000) (785,000) (490,000)
Proceeds from notes payable 0 0 1,740
Repayment of notes payable (67,189) (55,680) (113,037)
Scheduled principal payments (11,104) (9,442) (9,964)
Payment of loan costs (5,063) (7,019) (9,448)
Early redemption costs (21,755) (10,647) (10,491)
Net cash used in financing activities (210,589) (268,206) (508,494)
Net increase (decrease) in cash, cash equivalents, and restricted cash 262,888 70,372 (4,191)
Cash, cash equivalents, and restricted cash at beginning of the year 115,562 45,190 49,381
Cash, cash equivalents, and restricted cash at end of the year 378,450 115,562 45,190
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of capitalized interest of $4,355, $4,192, and $7,020 in 2020, 2019, and 2018, respectively) 151,338 136,139 136,645
Cash paid for income taxes, net of refunds 1,870 1,225 5,455
Supplemental disclosure of non-cash transactions:      
Exchangeable operating partnership units issued for acquisition of real estate 1,275 25,870  
Mortgage loans for the acquisition of real estate 16,359 26,152 9,700
Change in fair value of securities 315 660 (206)
Change in accrued capital expenditures 12,166 10,704  
Common stock issued for dividend reinvestment plan 1,139 1,429 1,333
Stock-based compensation capitalized 1,119 2,325 3,509
Common stock and exchangeable operating partnership dividends declared but not yet paid 101,412    
Common stock issued for dividend reinvestment in trust 819 987 841
Contribution of stock awards into trust 1,524 2,582 1,314
Distribution of stock held in trust 1,052 197 524
Common stock issued by Parent Company for partnership units exchanged 1,275 25,870  
Acquisition of real estate previously held within investments in real estate partnerships 5,986    
Mortgage loan assumed by purchaser with the sale of real estate 8,250    
Common stock issued under dividend reinvestment plan 1,139 1,429 1,333
(Distributions to) Contributions from limited partners in consolidated partnerships, net $ (1,512) $ 66 $ 13,000