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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net income $ 194,532 $ 179,633 $ 180,226
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Gain on early extinguishment of debt 0 0 (4,539)
Gain on previously held equity interest 0 0 (4,853)
Gain on sale of real estate (23,829) (1,209) (3,017)
Deferred income tax benefit (expense) (1,136) 1,796 (14,787)
Provision for loan losses 0 3,777 0
Income from discontinued operations (199) (3,881) (4,589)
Gain on sale of investment in a direct financing lease 0 (220) 0
Costs associated with loan refinancing or payoff 270 301 6,166
Equity in income from joint ventures (969) (1,273) (1,398)
Distributions from joint ventures 540 810 985
Depreciation and amortization 89,617 66,739 53,946
Amortization of deferred financing costs 4,588 4,248 4,041
Amortization of above market lease 192 192 48
Share-based compensation expense to management and trustees 8,508 8,902 6,516
Share-based compensation expense included in retirement severance expense 6,377 0 0
Decrease (increase) in restricted cash 2,017 (8) 12,509
Increase in mortgage notes accrued interest receivable (4,133) (3,997) (457)
Increase in accounts receivable, net (11,623) (5,214) (7,163)
Increase in direct financing lease receivable (3,559) (2,993) (4,860)
Decrease (increase) in other assets 343 (3,360) 2,338
Increase in accounts payable and accrued liabilities 5,711 4,586 7,816
Increase in unearned rents and interest 10,705 1,323 2,511
Net operating cash provided by continuing operations 277,952 250,152 231,439
Net operating cash provided by discontinued operations 508 143 2,681
Net cash provided (used) by operating activities 278,460 250,295 234,120
Investing activities:      
Acquisition of rental properties and other assets (179,820) (85,205) (123,497)
Proceeds from Sale of Real Estate 46,718 12,055 797
Investment in unconsolidated joint ventures 0 0 (1,607)
Proceeds from settlement of derivative 0 5,725 0
Investment in mortgage notes receivable (72,698) (93,877) (60,568)
Proceeds from mortgage note receivable paydown 40,956 76,256 1,900
Investment in promissory notes receivable 0 4,387 1,278
Proceeds from promissory note receivable paydown 0 1,750 1,027
Investment in direct financing leases, net 0 0 (3,262)
Proceeds from Sale of Lease Receivables 4,741 46,092 0
Additions to properties under development (408,436) (334,635) (197,271)
Net cash used by investing activities of continuing operations (568,539) (376,226) (383,759)
Net proceeds from sale of real estate from discontinued operations 0 0 47,301
Net cash used by investing activities (568,539) (376,226) (336,458)
Financing activities:      
Proceeds from long-term debt facilities 856,914 379,000 646,000
Principal payments on long-term debt (503,314) (310,253) (552,468)
Deferred financing fees paid (7,047) (814) (8,133)
Costs associated with loan refinancing or payoff (cash portion) 0 (25) (5,790)
Net proceeds from issuance of common shares 190,158 264,158 220,785
Impact of stock option exercises, net (3,394) 50 947
Purchase of common shares for treasury (8,222) (2,892) (3,246)
Dividends paid to shareholders (233,073) (207,637) (197,924)
Net cash provided by financing activities 292,022 121,587 100,171
Effect of exchange rate changes on cash (996) (278) (539)
Net increase (decrease) in cash and cash equivalents 947 (4,622) (2,706)
Cash and cash equivalents at beginning of the year 3,336 7,958 10,664
Cash and cash equivalents at end of the year 4,283 3,336 7,958
Supplemental schedule of non-cash activity:      
Transfer of property under development to rental property 392,786 236,428 139,026
Transfer of land held for development to property under development 167,600 0 0
Acquisition of real estate in exchange for assumption of debt at fair value 0 101,441 19,710
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses 14,285 15,525 10,398
Conversion of mortgage note receivable to rental property 120,051 0 0
Adjustment of noncontrolling interest to additional paid in capital 377 0 0
Sale of real estate in exchange for note receivable 0 0 2,500
Noncash or Part Noncash Acquisition, Value of Assets Acquired 0 0 49,391
Equity Method Investment, Amount Sold 0 0 8,282
decrease in mortgage note receivable from business combination 0 0 33,089
Supplemental disclosure of cash flow information:      
Cash paid during the year for interest 90,850 85,290 73,403
Cash paid during the year for income taxes 1,956 710 102
Interest cost capitalized 18,546 7,525 2,763
Increase in accrued capital expenditures $ 417 $ 7,053 $ 1,168