Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

NOTE 12. SUPPLEMENTAL CASH FLOW INFORMATION

Our significant noncash investing and financing activities for the three months ended March 31, 2019 and 2018 included the following:

• Due to the adoption of the new lease standard on January 1, 2019, we recorded Lease ROU Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases after January 1, 2019, of $393.0 million and $400.3 million, respectively.

• We capitalized $7.5 million in 2019 and 2018 of equity-based compensation expense. Beginning January 1, 2019, upon adoption of the new lease standard, we capitalized equity-based compensation expenses related to development activities only. Internal costs related to our leasing activities are expensed as incurred.  

• We received $177.2 million and $50.6 million in 2019 and 2018, respectively, of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities, as disclosed in Note 3. Included in 2019 is our initial 20% investment in PBLV in exchange for our contribution of the initial portfolio of properties to the Venture upon formation.

• We issued 0.4 million shares in 2019 of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP.

We paid $95.4 million and $82.9 million for interest, net of amounts capitalized, for the three months ended March 31, 2019 and 2018, respectively.

We paid $26.5 million and $24.8 million for income taxes, net of refunds, for the three months ended March 31, 2019 and 2018, respectively.