XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net income $ 141,446 $ 107,811
Asset Impairment Charges 0 11,812
Gain on sale of real estate (26,163) (19,408)
Deferred income tax benefit (623) (526)
Equity in loss from joint ventures (4,328) (4,533)
Proceeds from Equity Method Investment, Distribution 11 0
Financing Receivable, Credit Loss, Expense (Reversal) 345 3,141
Depreciation and amortization 83,169 81,943
Amortization of deferred financing costs 4,308 4,446
Amortization of above/below market leases and tenant allowances, net (162) (168)
Share-based Payment Arrangement, Noncash Expense 7,779 7,230
share based compensation included in severance expense 0 1,598
Increase (Decrease) in Operating Lease Assets and Liabilities, Net (552) (602)
Mortgage notes accrued interest receivable (421) (2,235)
Accounts receivable (12,481) (11,920)
Other assets (4,877) (6,499)
Accounts payable and accrued liabilities (6,401) (6,851)
Increase (Decrease) in Deferred Revenue (3,016) 3,893
Net cash provided by operating activities 186,690 178,198
Investing activities:    
Payments to Acquire Productive Assets 19,541 41,879
Proceeds from Sale of Productive Assets 106,436 56,493
Payments to Acquire Interest in Subsidiaries and Affiliates 0 (186)
Investment in mortgage notes receivable (9,776) (24,177)
Proceeds from Sale and Collection of Mortgage Notes Receivable 9,458 352
Proceeds from promissory note receivable paydown 279 383
Additions to properties under development (57,033) (63,468)
Net cash provided (used) by investing activities 29,823 (72,482)
Financing activities:    
Proceeds from long-term debt facilities 414,000 20,000
Repayments of Long-Term Debt (484,000) (20,000)
Deferred financing fees paid (446) (370)
Net proceeds from issuance of common shares 464 402
Purchase of common shares for treasury (9,833) (11,375)
Dividends paid to shareholders (144,091) (138,513)
Net cash used by financing activities (223,906) (149,856)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 414 (152)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (6,979) (44,292)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 28,720 36,689
Cash and Cash Equivalent 12,955 33,731
Restricted Cash and Cash Equivalent 15,765 2,958
Supplemental schedule of non-cash activity:    
Transfer of property under development to rental property 69,770 111,154
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses 28,214 21,769
Supplemental disclosure of cash flow information:    
Interest Paid, Excluding Capitalized Interest, Operating Activity 68,015 62,843
Cash paid during the period for income taxes 1,987 1,222
Interest cost capitalized 2,396 1,428
Change in accrued capital expenditures $ (4,791) $ (13,608)