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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net (loss) income $ (4,643) $ 329,352
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 89,789 102,367
Credit losses (gains) on lease related receivables 3,271 (45)
Real estate impairment 0 8,374
Loss (gain) on sale of real estate 7,539 (337,978)
Share-based compensation expense 5,901 6,265
Amortization of debt premiums, discounts and related financing costs 2,036 2,632
(Gain) loss on extinguishment of debt (262) 0
(Gain) loss on extinguishment of debt 0 764
Changes in operating other assets (11,566) (12,353)
Changes in operating other liabilities (7,841) (8,098)
Net cash provided by operating activities 84,224 91,280
Cash flows from investing activities    
Real estate acquisitions, net 0 (528,588)
Net cash received for sale of real estate 56,353 582,551
Capital improvements to real estate (38,490) (30,588)
Development in progress (23,454) (26,884)
Non-real estate capital improvements (196) (317)
Net cash used in investing activities (5,787) (3,826)
Cash flows from financing activities    
Line of credit borrowings, net 130,000 23,000
Dividends paid (74,285) (96,361)
Principal payments – mortgage notes payable (46,567) (12,596)
Repayments of unsecured notes payable (250,000) (450,000)
Proceeds from term loan 150,000 450,000
Payment of financing costs (567) (1,219)
Distributions to noncontrolling interests (11) (8)
Proceeds from dividend reinvestment program 1,581 3,430
Net proceeds from equity issuances 1,240 3,681
Payment of tax withholdings for restricted share awards (150) (512)
Net cash used in financing activities (88,759) (80,585)
Net (decrease) increase in cash, cash equivalents and restricted cash (10,322) 6,869
Cash, cash equivalents and restricted cash at beginning of period 14,751 7,640
Cash, cash equivalents and restricted cash at end of period 4,429 14,509
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 27,386 34,481
Change in accrued capital improvements and development costs 4,147 13,638
Reconciliation of cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash $ 4,429 $ 14,509