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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Net income $ 229,256 $ 130,291 $ 133,549
Operating distributions received from unconsolidated joint ventures 0 10 11
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 106,015 107,956 119,288
Amortization of debt issuance costs net of favorable settlement of interest rate swaps 87 (250) 1,588
Other amortization 71,609 58,330 73,944
Impairment loss on real estate assets 8,953 0 46,461
Loss on extinguishment of debt 0 1,665 0
Stock compensation expense 15,446 9,737 9,196
Equity in income of unconsolidated joint ventures 0 0 (3,845)
Gain on sale of real estate assets (197,010) (75,691) (115,874)
Changes in assets and liabilities:      
Increase in tenant and straight-line rent receivables (15,706) (16,094) (21,392)
Decrease/(increase) in prepaid expenses and other assets 309 (3,095) 384
Decrease in accounts payable and accrued expenses (11,251) (9,092) (1,521)
Increase/(decrease) in deferred income 776 (898) 1,016
Net cash provided by operating activities 208,484 202,869 242,805
Cash Flows from Investing Activities:      
Acquisition of real estate assets and intangibles (326,200) (151,914) (35,262)
Capitalized expenditures (103,553) (72,105) (79,831)
Net sale proceeds from wholly-owned properties 589,767 575,227 375,518
Net sale proceeds received from unconsolidated joint ventures 0 0 12,334
Investments in unconsolidated joint ventures 0 0 (1,162)
Note receivable issuance 0 (3,200) 0
Note receivable payment 0 3,200 0
Deferred lease costs paid (25,639) (27,430) (30,985)
Net cash provided by/(used in) investing activities 134,375 323,778 240,612
Cash Flows from Financing Activities:      
Debt issuance and other costs paid (151) (1,040) (132)
Proceeds from debt 592,000 977,062 180,000
Repayments of debt (798,019) (1,020,455) (476,401)
Costs of issuance of common stock (710) (85) (182)
Value of shares withheld for payment of taxes related to employee stock compensation (3,295) (2,219) (3,403)
Repurchases of common stock as part of announced plan (16,899) (298,538) (60,474)
Dividends paid and discount on dividend reinvestments (106,433) (184,093) (122,274)
Net cash used in financing activities (333,507) (529,368) (482,866)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 9,352 (2,721) 551
Cash, cash equivalents, and restricted cash and escrows, beginning of year 6,034 8,755 8,204
Cash, cash equivalents, and restricted cash and escrows, end of year $ 15,386 $ 6,034 $ 8,755