Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 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 six months ended June 30, 2019 and 2018 included the following:

• We recognized Lease ROU Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases, renewals, modifications and terminations after January 1, 2019, of $411.4 million and $417.3 million, respectively.

• We capitalized $12.1 million and $14.1 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 $235.5 million and $105.4 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 PBLV upon formation.

• We issued 0.5 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 $153.2 million and $154.4 million for interest, net of amounts capitalized, for the six months ended June 30, 2019 and 2018, respectively.

We paid $39.9 million and $32.3 million for income taxes, net of refunds, for the six months ended June 30, 2019 and 2018, respectively.