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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 179,447 $ 119,592
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 86,847 61,980
Amortization of deferred financing costs 5,617 3,328
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes 2,473 1,393
Non-cash interest expense related to amortization of premium on notes payable (696) (1,682)
Compensation expense related to stock-based awards 4,093 2,795
Gain on sale of real estate assets and purchase of joint venture partners' interests (26,923) (2,857)
Gain on real estate transactions and earnout from prior acquisition (9,814) (400)
Distributions from unconsolidated real estate ventures in excess of earnings 1,936 3,459
Changes in operating assets and liabilities:    
Receivables from related parties and affiliated real estate joint ventures 1,720 (1,302)
Other assets (1,186) (2,961)
Accounts payable and accrued expenses (402) 3,857
Other liabilities (3,442) (3,915)
Net cash provided by operating activities 239,670 183,287
Cash flows from investing activities:    
Acquisition of real estate assets (435,298) (240,892)
Development and redevelopment of real estate assets (14,400) (9,926)
Proceeds from sale of real estate assets 17,582 800
Change in restricted cash 15,506 (179)
Investment in unconsolidated real estate ventures (19,309) 0
Return of investment in unconsolidated real estate ventures 1,318 0
Purchase/issuance of notes receivable (10,656) 0
Principal payments received from notes receivable 41,393 0
Purchase of equipment and fixtures (2,128) (2,592)
Net cash used in investing activities (405,992) (252,789)
Cash flows from financing activities:    
Proceeds from the sale of common stock, net of offering costs 73,369 416,643
Repurchase of exchangeable senior notes (22,192) 0
Proceeds from notes payable and lines of credit 492,880 892,140
Principal payments on notes payable and lines of credit (222,923) (973,656)
Deferred financing costs (5,702) (3,451)
Net proceeds from exercise of stock options 313 1,102
Proceeds from termination of interest rate cap 1,650 0
Dividends paid on common stock (171,514) (123,473)
Distributions to noncontrolling interests (14,300) (11,573)
Net cash provided by financing activities 131,581 197,732
Net decrease in cash and cash equivalents (34,741) 128,230
Cash and cash equivalents, beginning of the period 75,799 47,663
Cash and cash equivalents, end of the period 41,058 175,893
Supplemental schedule of cash flow information    
Interest paid 59,676 40,984
Income taxes paid 8,516 1,431
Redemption of Operating Partnership units held by noncontrolling interests for common stock:    
Noncontrolling interests in Operating Partnership (829) (138)
Common stock and paid-in capital 829 138
Tax effect from vesting of restricted stock grants and option exercises    
Other assets 1,267 (1,242)
Paid-in capital (1,267) 1,242
Acquisitions of real estate assets    
Real estate assets, net 65,960 122,132
Operating Partnership units issued (56,237) (106,522)
Notes payable assumed (9,723) 0
Receivables from related parties and affiliated real estate joint ventures 0 (15,610)
Accrued construction costs and capital expenditures    
Acquisition of real estate assets 7,567 0
Development and redevelopment of real estate assets 1,298 0
Accounts payable and accrued expenses (8,865) 0
Distribution of real estate from investments in unconsolidated real estate ventures    
Real estate assets, net 17,261 0
Investments in unconsolidated real estate ventures (17,261) 0
Disposition of real estate assets    
Real estate assets, net (7,689) 0
Redemption of Operating Partnership Units [Member]    
Disposition of real estate assets    
Operating Partnership units redeemed $ 7,689 $ 0