XML 21 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 132,396 $ 345,122
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 219,694 202,261
Amortization of deferred leasing and other costs 40,965 40,659
Amortization of deferred financing costs 6,814 4,606
Straight-line rental income and expense, net (15,660) (15,627)
Impairment charges 5,626 0
Loss on debt extinguishment 32,898 13
Gain on involuntary conversion (4,312) (2,259)
Gains on land and depreciated property sales (28,567) (211,010)
Third-party construction contracts, net 2,017 14,218
Other accrued revenues and expenses, net 42,415 26,870
Equity in earnings in excess of operating distributions received from unconsolidated joint ventures 4,656 (766)
Net cash provided by operating activities 438,942 404,087
Cash flows from investing activities:    
Development of real estate investments (469,001) (325,825)
Payments to Acquire Commercial Real Estate (85,465) (146,632)
Acquisition of land and other real estate assets (96,376) (223,547)
Second generation tenant improvements, leasing costs and building improvements (27,733) (31,644)
Other deferred leasing costs (29,867) (28,551)
Other assets (9,519) (9,104)
Proceeds from the repayments of notes receivable from property sales 110,000 145,000
Proceeds from land and depreciated property sales, net 55,740 379,774
Proceeds from Equity Method Investment, Distribution, Return of Capital 876 2,664
Capital contributions and advances to unconsolidated joint ventures (6,161) (5,963)
Net cash used for investing activities (557,506) (243,828)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net 119,765 222,672
Proceeds from unsecured debt 663,123 182,284
Payments on unsecured debt (546,972) 0
Proceeds from secured notes payable 18,400 0
Payments on secured indebtedness including principal amortization (3,284) (44,652)
Borrowings (repayments) on line of credit, net 47,000 (30,000)
Distributions to common shareholders/unitholders (260,431) (232,323)
Distributions to noncontrolling Interest (2,149) (1,864)
Tax payments on stock-based compensation awards (4,263) (5,695)
Change in book cash overdrafts (13,588) (14,306)
Other Financing Activities 284 (9,920)
Deferred financing costs (7,354) (1,440)
Net cash provided by financing activities 10,531 64,756
Net (decrease) increase in cash, cash equivalents and restricted cash (108,033) 225,015
Cash, cash equivalents and restricted cash at beginning of period 121,431 25,517
Cash, cash equivalents and restricted cash at end of period 13,398 250,532
Noncash activities:    
Lease liabilities arising from right-of-use assets 35,956 38,826
Assumption of indebtedness and other liabilities in real estate acquisitions 33,905 0
Duke Realty Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 132,396 345,122
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 219,694 202,261
Amortization of deferred leasing and other costs 40,965 40,659
Amortization of deferred financing costs 6,814 4,606
Straight-line rental income and expense, net (15,660) (15,627)
Impairment charges 5,626 0
Loss on debt extinguishment 32,898 13
Gain on involuntary conversion (4,312) (2,259)
Gains on land and depreciated property sales (28,567) (211,010)
Third-party construction contracts, net 2,017 14,218
Other accrued revenues and expenses, net 42,415 26,870
Equity in earnings in excess of operating distributions received from unconsolidated joint ventures 4,656 (766)
Net cash provided by operating activities 438,942 404,087
Cash flows from investing activities:    
Development of real estate investments (469,001) (325,825)
Payments to Acquire Commercial Real Estate (85,465) (146,632)
Acquisition of land and other real estate assets (96,376) (223,547)
Second generation tenant improvements, leasing costs and building improvements (27,733) (31,644)
Other deferred leasing costs (29,867) (28,551)
Other assets (9,519) (9,104)
Proceeds from the repayments of notes receivable from property sales 110,000 145,000
Proceeds from land and depreciated property sales, net 55,740 379,774
Proceeds from Equity Method Investment, Distribution, Return of Capital 876 2,664
Capital contributions and advances to unconsolidated joint ventures (6,161) (5,963)
Net cash used for investing activities (557,506) (243,828)
Cash flows from financing activities:    
Contributions from the General Partner 119,765 222,672
Proceeds from unsecured debt 663,123 182,284
Payments on unsecured debt (546,972) 0
Proceeds from secured notes payable 18,400 0
Payments on secured indebtedness including principal amortization (3,284) (44,652)
Borrowings (repayments) on line of credit, net 47,000 (30,000)
Distributions to common shareholders/unitholders (262,780) (234,352)
Distributions to noncontrolling Interest 200 165
Tax payments on stock-based compensation awards (4,263) (5,695)
Change in book cash overdrafts (13,588) (14,306)
Other Financing Activities 284 (9,920)
Deferred financing costs (7,354) (1,440)
Net cash provided by financing activities 10,531 64,756
Net (decrease) increase in cash, cash equivalents and restricted cash (108,033) 225,015
Cash, cash equivalents and restricted cash at beginning of period 121,431 25,517
Cash, cash equivalents and restricted cash at end of period 13,398 250,532
Noncash activities:    
Lease liabilities arising from right-of-use assets 35,956 38,826
Assumption of indebtedness and other liabilities in real estate acquisitions $ 33,905 $ 0