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EPT - Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 161,594 $ 78,375  
Adjustments to reconcile net income to net cash provided by operating activities:      
Straight-lined rents (381) 2,074  
Depreciation and amortization 136,347 133,533  
Amortization of discount and debt financing costs, net 1,282 1,665  
Gain on sale of marketable securities (912) (12,171)  
Provision for credit losses 18 62  
Unrealized (gains) losses on equity securities recognized through income (368) 24,585  
Earnings from co-investments (10,871) (21,171)  
Operating distributions from co-investments 6,784 52,281  
Accrued interest from notes and other receivables (2,165) (3,447)  
Casualty loss 433 0  
Gain on the sale of real estate and land (59,238) 0  
Equity-based compensation 1,971 2,296  
Changes in operating assets and liabilities:      
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 2,457 16,026  
Accounts payable, accrued liabilities, and operating lease liabilities 39,687 40,300  
Other liabilities 281 735  
Net cash provided by operating activities 276,919 315,143  
Additions to real estate:      
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired 0 (61)  
Redevelopment (21,265) (18,004)  
Development acquisitions of and additions to real estate under development (3,791) (6,882)  
Capital expenditures on rental properties (21,084) (24,917)  
Investments in notes receivable (14,883) (134,697)  
Collections of notes and other receivables 0 270,338  
Proceeds from insurance for property losses 152 88  
Proceeds from dispositions of real estate 99,388 0  
Contributions to co-investments (7,967) (79,284)  
Changes in refundable deposits 9,000 (6,318)  
Purchases of marketable securities (11,073) (10,826)  
Sales and maturities of marketable securities 26,681 27,911  
Non-operating distributions from co-investments 0 88,370  
Net cash provided by investing activities 55,158 105,718  
Cash flows from financing activities:      
Payments on unsecured debt and mortgage notes (206) (904)  
Proceeds from lines of credit 327,524 391,472  
Repayments of lines of credit (379,141) (634,729)  
Retirement of common stock (95,657) 0  
Additions to deferred charges (166) 0  
Net (costs) proceeds from issuance of common stock (72) (141)  
Net proceeds from stock options exercised 0 19,083  
Payments related to tax withholding for share-based compensation 0 (2,216)  
Contributions from noncontrolling interest 0 125  
Distributions to noncontrolling interest (7,580) (7,218)  
Redemption of noncontrolling interest (173) (26)  
Common stock dividends paid (142,129) (136,392)  
Net cash used in financing activities (297,600) (370,946)  
Net increase in unrestricted and restricted cash and cash equivalents 34,477 49,915  
Unrestricted and restricted cash and cash equivalents at beginning of period 42,681 58,638 $ 58,638
Unrestricted and restricted cash and cash equivalents at end of period 77,158 108,553 $ 42,681
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of $0.3 million and $0.9 million capitalized in 2023 and 2022, respectively) 52,686 51,168  
Operating cash flows from operating leases 1,762 1,738  
Supplemental disclosure of noncash investing and financing activities:      
Transfers between real estate under development and rental properties, net 121 4,346  
Transfers from real estate under development to co-investments 467 858  
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest $ 3,058 $ 5,073