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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net (loss) income $ (24,464) $ 113,279
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 97,762 127,417
Equity in net loss from unconsolidated joint ventures 9,265 15,834
Distributions of cumulative earnings from unconsolidated joint ventures 343 174
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 131 4,158
Purchase price and other fair value adjustments 6,231 (717)
Depreciable real estate reserves and impairment 0 5,696
Loss (gain) on sale of real estate, net 65,380 (97,572)
Deferred rents receivable 1,075 (7,144)
Non-cash lease expense 12,080 7,538
Other non-cash adjustments (10,406) 18,137
Changes in operating assets and liabilities:    
Tenant and other receivables 14,767 (2,493)
Related party receivables 1,458 (2,055)
Deferred lease costs (6,922) (3,602)
Other assets (2,651) 15,550
Accounts payable, accrued expenses, other liabilities and security deposits 19,767 (60,592)
Deferred revenue (2,672) 888
Lease liability - operating leases 1,291 (31,232)
Net cash provided by operating activities 182,435 103,264
Investing Activities    
Acquisitions of real estate property 0 (28,688)
Additions to land, buildings and improvements (126,957) (118,076)
Investments in unconsolidated joint ventures (135,365) (38,198)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 64,976 417,457
Net proceeds from disposition of real estate/joint venture interest 353,853 398,173
Cash assumed from consolidation of real estate investment 0 9,475
Proceeds from sale or redemption of marketable securities 0 4,528
Purchases of marketable securities 0 (10,000)
Other investments 1,507 (4,108)
Origination of debt and preferred equity investments (29,095) (74,148)
Repayments or redemption of debt and preferred equity investments 6,405 85,106
Net cash provided by investing activities 135,324 641,521
Financing Activities    
Proceeds from mortgages and other loans payable 184,196 19,772
Repayments of mortgages and other loans payable (91,770) (364,994)
Proceeds from revolving credit facility and unsecured notes 332,000 570,000
Repayments of revolving credit facility and unsecured notes (592,000) (680,000)
Proceeds from stock options exercised and DRSPP issuance 199 467
Repurchase of common stock (151,197) (178,666)
Redemption of preferred stock (17,968) (3,631)
Redemption of OP units (18,334) (13,930)
Distributions to noncontrolling interests in other partnerships (3,020) (173)
Contributions from noncontrolling interests in other partnerships 51,348 305
Distributions to noncontrolling interests in the Operating Partnership (8,572) (8,110)
Dividends paid on common and preferred stock (131,556) (138,373)
Other obligations related to secured borrowing 77,874 0
Tax withholdings related to restricted share awards (3,891) (2,842)
Deferred loan costs (4,991) (470)
Principal payments of on financing lease liabilities 0 (434)
Net cash used in financing activities (377,682) (801,079)
Net decrease in cash, cash equivalents, and restricted cash (59,923) (56,294)
Cash, cash equivalents, and restricted cash at beginning of year 336,984 372,795
Cash, cash equivalents, and restricted cash at end of period 277,061 316,501
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Redemption of units in the Operating Partnership for a joint venture sale 0 27,586
Issuance of special dividend paid primarily in stock 160,620 123,529
Tenant improvements and capital expenditures payable 10,295 8,911
Fair value adjustment to noncontrolling interest in the Operating Partnership 5,085 32,475
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 5,184
Removal of fully depreciated commercial real estate properties 3,597 4,288
Share repurchase payable 0 20,221
Recognition of right of use assets and related lease liabilities 0 119,711
Cash and cash equivalents 189,360 218,337
Restricted cash 87,701 98,164
Total cash, cash equivalents, and restricted cash $ 277,061 $ 316,501