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EPT - Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 78,375 $ 176,949  
Adjustments to reconcile net income to net cash provided by operating activities:      
Straight-lined rents 2,074 3,087  
Depreciation and amortization 133,533 128,587  
Amortization of discount and debt financing costs, net 1,665 2,132  
Gain on sale of marketable securities (12,171) (2,611)  
Provision for credit losses 62 38  
Unrealized losses (gains) on equity securities recognized through income 24,585 (6,276)  
Earnings from co-investments (21,171) (17,011)  
Operating distributions from co-investments 52,281 46,355  
Accrued interest from notes and other receivables (3,447) (4,201)  
Gain on the sale of real estate and land 0 (100,096)  
Equity-based compensation 2,296 1,386  
Loss on early retirement of debt, net 0 2,517  
Changes in operating assets and liabilities:      
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 16,026 (41,060)  
Accounts payable, accrued liabilities, and operating lease liabilities 40,300 4,976  
Other liabilities 735 494  
Net cash provided by operating activities 315,143 195,266  
Additions to real estate:      
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (61) (1,203)  
Redevelopment (18,004) (9,274)  
Development acquisitions of and additions to real estate under development (6,882) (19,629)  
Capital expenditures on rental properties (24,917) (16,720)  
Investments in notes receivable (134,697) (69,885)  
Collections of notes and other receivables 270,338 0  
Proceeds from insurance for property losses 88 102  
Proceeds from dispositions of real estate 0 243,365  
Contributions to co-investments (79,284) (49,974)  
Changes in refundable deposits (6,318) 11  
Purchases of marketable securities (10,826) (23,296)  
Sales and maturities of marketable securities 27,911 14,772  
Non-operating distributions from co-investments 88,370 78,600  
Net cash provided by investing activities 105,718 146,869  
Cash flows from financing activities:      
Proceeds from unsecured debt and mortgage notes 0 447,404  
Payments on unsecured debt and mortgage notes (904) (600,858)  
Proceeds from lines of credit 391,472 204,794  
Repayments of lines of credit (634,729) (204,794)  
Retirement of common stock 0 (9,172)  
Additions to deferred charges 0 (3,434)  
Payments related to debt prepayment penalties 0 (2,132)  
Net proceeds from issuance of common stock (141) 0  
Net proceeds from stock options exercised 19,083 1,701  
Payments related to tax withholding for share-based compensation (2,216) (5,445)  
Contributions from noncontrolling interest 125 1,900  
Distributions to noncontrolling interest (7,218) (7,461)  
Redemption of noncontrolling interest (26) (255)  
Common stock dividends paid (136,392) (135,064)  
Net cash used in financing activities (370,946) (312,816)  
Net increase in unrestricted and restricted cash and cash equivalents 49,915 29,319  
Unrestricted and restricted cash and cash equivalents at beginning of period 58,638 84,041 $ 84,041
Unrestricted and restricted cash and cash equivalents at end of period 108,553 113,360 $ 58,638
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of $0.9 million and $2.1 million capitalized in 2022 and 2021, respectively) 51,168 55,213  
Operating cash flows from operating leases 1,738 1,738  
Supplemental disclosure of noncash investing and financing activities:      
Transfers between real estate under development and rental properties, net 4,346 267  
Transfer from real estate under development to co-investments 858 747  
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest $ 5,073 $ 4,083