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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income (loss) $ 13,485 $ (3,855)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 48,931 66,770
Equity in net loss from unconsolidated joint ventures 4,715 2,864
Distributions of cumulative earnings from unconsolidated joint ventures 188 69
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 0 12,629
Purchase price and other fair value adjustments 63 (2,664)
Depreciable real estate reserves and impairment 0 8,241
Loss on sale of real estate, net 1,002 1,388
Deferred rents receivable (546) (2,685)
Non-cash lease expense 6,043 3,375
Other non-cash adjustments (6,964) 15,564
Changes in operating assets and liabilities:    
Tenant and other receivables 13,673 (4,138)
Related party receivables (2,335) (683)
Deferred lease costs (4,240) (240)
Other assets (25,076) (24,354)
Accounts payable, accrued expenses, other liabilities and security deposits 28,049 (38,640)
Deferred revenue 3,550 4,121
Lease liability - operating leases 864 (19,160)
Net cash provided by operating activities 81,402 18,602
Investing Activities    
Additions to land, buildings and improvements (61,680) (49,328)
Acquisition deposits and deferred purchase price (15,000) 0
Investments in unconsolidated joint ventures (11,399) (21,027)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 16,089 19,692
Net proceeds from disposition of real estate/joint venture interest 91,994 62,800
Cash assumed from consolidation of real estate investment 0 9,475
Proceeds from sale or redemption of marketable securities 0 4,528
Other investments 209 (54)
Origination of debt and preferred equity investments (13,122) (5,905)
Repayments or redemption of debt and preferred equity investments 6,405 0
Net cash provided by investing activities 13,496 20,181
Financing Activities    
Proceeds from mortgages and other loans payable 5,309 10,391
Repayments of mortgages and other loans payable (55,715) (362,542)
Proceeds from revolving credit facility and unsecured notes 320,000 530,000
Repayments of revolving credit facility and unsecured notes (210,000) (10,000)
Proceeds from stock options exercised and DRSPP issuance 89 351
Repurchase of common stock (151,197) (84,089)
Redemption of preferred stock (17,967) (3,631)
Redemption of OP units (18,272) (13,261)
Distributions to noncontrolling interests in other partnerships (123) (110)
Contributions from noncontrolling interests in other partnerships 0 171
Distributions to noncontrolling interests in the Operating Partnership (4,415) (4,148)
Dividends paid on common and preferred stock (66,339) (69,772)
Other obligations related to secured borrowing 77,874 0
Tax withholdings related to restricted share awards (3,888) (2,788)
Deferred loan costs 80 (288)
Principal payments of on financing lease liabilities 0 (255)
Net cash used in financing activities (124,564) (9,971)
Net (decrease) increase in cash, cash equivalents, and restricted cash (29,666) 28,812
Cash, cash equivalents, and restricted cash at beginning of year 336,984 372,795
Cash, cash equivalents, and restricted cash at end of period 307,318 401,607
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Issuance of special dividend paid primarily in stock 160,620 123,529
Tenant improvements and capital expenditures payable 8,700 15,214
Fair value adjustment to noncontrolling interest in the Operating Partnership 43,023 26,609
Consolidation of real estate investment 0 119,444
Extinguishment of debt in connection with property dispositions 0 53,548
Debt and preferred equity investments 0 10,000
Removal of fully depreciated commercial real estate properties 651 1,120
Share repurchase payable 0 3,779
Recognition of right of use assets and related lease liabilities 0 119,711
Cash and cash equivalents 223,674 304,999
Restricted cash 83,644 96,608
Total cash, cash equivalents, and restricted cash $ 307,318 $ 401,607