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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ (2,288) $ (28,153) $ 12,722 $ 16,225  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     125,669 153,609  
Provision for impairment of investment properties 2,279 11,177 2,625 11,177 $ 12,298
Gain on sales of investment properties 0 (1,969) 0 (18,872)  
Amortization of loan fees and debt premium and discount, net     3,249 1,913  
Amortization of stock-based compensation     6,734 5,672  
Debt prepayment fees     2,786 8,151  
Payment of leasing fees and inducements     (5,787) (6,880)  
Changes in accounts receivable, net     (17,195) 3,071  
Changes in right-of-use lease assets     1,391 1,438  
Changes in accounts payable and accrued expenses, net     (12,392) (4,222)  
Changes in lease liabilities     (671) (496)  
Changes in other operating assets and liabilities, net     621 6,156  
Other, net     (1,111) (6,254)  
Net cash provided by operating activities     118,641 170,688  
Cash flows from investing activities:          
Purchase of investment properties     (54,970) (29,891)  
Capital expenditures and tenant improvements     (44,955) (59,971)  
Proceeds from sales of investment properties     11,369 44,656  
Investment in developments in progress     (58,939) (17,817)  
Net cash used in investing activities     (147,495) (63,023)  
Cash flows from financing activities:          
Principal payments on mortgages payable     (2,160) (109,917)  
Proceeds from unsecured notes payable     493,746 100,000  
Repayments of unsecured notes payable     (100,000) 0  
Proceeds from unsecured term loans     0 270,000  
Repayments of unsecured term loans     (250,000) 0  
Proceeds from unsecured revolving line of credit     937,704 208,000  
Repayments of unsecured revolving line of credit     (955,704) (457,000)  
Payment of loan fees and deposits     (5,403) (2,519)  
Debt prepayment fees     (2,786) (8,151)  
Distributions paid     (70,851) (106,141)  
Other, net     1,689 965  
Net cash provided by (used in) financing activities     46,235 (104,763)  
Net increase in cash, cash equivalents and restricted cash     17,381 2,902  
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 31,828 22,503 31,828 22,503 14,447
Supplemental cash flow disclosure, including non-cash activities:          
Cash paid for interest, net of interest capitalized     52,919 56,950  
Cash paid for amounts included in the measurement of operating lease liabilities     4,406 4,523  
Distributions payable 10,713 35,387 10,713 35,387 35,387
Accrued capital expenditures and tenant improvements     8,182 6,048  
Accrued leasing fees and inducements     1,594 1,184  
Accrued redevelopment costs     2,678 565  
Amounts reclassified to developments in progress     305 34,746  
Developments in progress placed in service     4,725 1,377  
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) (28,486)  
Right-of-use lease assets     5,999 0  
Accounts receivable, acquired lease intangibles and other assets     (1,801) (1,792)  
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) (29,891)  
Proceeds from sales of investment properties:          
Net investment properties     11,307 30,119  
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 1,969 0 18,872  
Proceeds from sales of investment properties     11,369 44,656  
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 27,371 17,076 27,371 17,076 9,989
Restricted cash, at end of period (included within “Other assets, net”) 4,457 5,427 4,457 5,427 4,458
Cash, cash equivalents and restricted cash, at end of period $ 31,828 $ 22,503 $ 31,828 $ 22,503 $ 14,447