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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ (7,347) $ 21,170 $ 15,010 $ 44,378  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     83,928 86,149  
Provision for impairment of investment properties 0 0 346 0 $ 12,298
Gain on sales of investment properties 0 (8,454) 0 (16,903)  
Amortization of loan fees and debt premium and discount, net     1,912 1,597  
Amortization of stock-based compensation     4,454 3,823  
Payment of leasing fees and inducements     (4,356) (5,120)  
Reserve for bad debt, net     13,977 589  
Changes in accounts receivable     (31,647) 1,332  
Changes in right-of-use lease assets     928 961  
Changes in accounts payable and accrued expenses, net     (21,899) (16,999)  
Changes in lease liabilities     33 (309)  
Changes in other operating assets and liabilities, net     2,696 4,234  
Other, net     (957) (4,546)  
Net cash provided by operating activities     64,425 99,186  
Cash flows from investing activities:          
Purchase of investment properties     (54,970) (26,576)  
Capital expenditures and tenant improvements     (30,778) (39,934)  
Proceeds from sales of investment properties     11,369 41,886  
Investment in developments in progress     (32,499) (7,784)  
Net cash used in investing activities     (106,878) (32,408)  
Cash flows from financing activities:          
Principal payments on mortgages payable     (1,242) (1,530)  
Proceeds from unsecured notes payable     0 100,000  
Proceeds from unsecured revolving line of credit     937,704 143,000  
Repayments of unsecured revolving line of credit     (820,704) (223,000)  
Payment of loan fees and deposits     (151) (754)  
Distributions paid     (70,851) (70,758)  
Other, net     900 (10)  
Net cash provided by (used in) financing activities     45,656 (53,052)  
Net increase in cash, cash equivalents and restricted cash     3,203 13,726  
Cash, cash equivalents and restricted cash, at beginning of period     14,447 19,601 19,601
Cash, cash equivalents and restricted cash, at end of period 17,650 33,327 17,650 33,327 14,447
Supplemental cash flow disclosure, including non-cash activities:          
Cash paid for interest, net of interest capitalized     34,234 33,276  
Cash paid for amounts included in the measurement of operating lease liabilities     2,505 3,052  
Cash received for accounts receivable previously written off     54 112  
Distributions payable 0 35,388 0 35,388 35,387
Accrued capital expenditures and tenant improvements     8,938 7,403  
Accrued leasing fees and inducements     1,127 673  
Accrued redevelopment costs     2,531 281  
Amounts reclassified to developments in progress     305 13,570  
Change in noncontrolling interest due to termination of joint ventures     2,217 0  
Lease liabilities arising from obtaining right-of-use lease assets     383 103,519  
Straight-line ground rent liabilities reclassified to right-of-use lease asset     0 31,030  
Straight-line office rent liability reclassified to right-of-use lease asset     0 507  
Acquired ground lease intangible liability reclassified to right-of-use lease asset     0 11,898  
Purchase of investment properties (after credits at closing):          
Net investment properties     (58,760) (25,438)  
Right-of-use lease assets     5,999 0  
Accounts receivable, acquired lease intangibles and other assets     (1,801) (1,525)  
Lease liabilities     (5,942) 0  
Accounts payable, acquired lease intangibles and other liabilities     5,534 387  
Purchase of investment properties (after credits at closing)     (54,970) (26,576)  
Proceeds from sales of investment properties:          
Net investment properties     11,307 29,318  
Right-of-use lease assets     0 8,242  
Accounts receivable, acquired lease intangibles and other assets     167 1,591  
Lease liabilities     0 (11,326)  
Accounts payable, acquired lease intangibles and other liabilities     (105) (2,842)  
Gain on sales of investment properties 0 8,454 0 16,903  
Proceeds from sales of investment properties     11,369 41,886  
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents, at beginning of period     9,989 14,722 14,722
Restricted cash, at beginning of period (included within “Other assets, net”)     4,458 4,879 4,879
Cash, cash equivalents and restricted cash, at beginning of period     14,447 19,601 19,601
Cash and cash equivalents, at end of period 12,563 28,456 12,563 28,456 9,989
Restricted cash, at end of period (included within “Other assets, net”) 5,087 4,871 5,087 4,871 4,458
Cash, cash equivalents and restricted cash, at end of period $ 17,650 $ 33,327 $ 17,650 $ 33,327 $ 14,447