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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 198,143 $ 183,832
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 103,641 96,064
Amortization of deferred financing costs 6,064 6,083
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes 2,385 2,559
Compensation expense related to stock-based awards 5,842 4,955
Loss on real estate transactions and impairment of real estate 0 (6,019)
Distributions from unconsolidated real estate ventures in excess of earnings 3,615 2,365
Changes in operating assets and liabilities:    
Other assets 7,269 15,203
Accounts payable and accrued expenses 7,888 (18,090)
Other liabilities 4,895 (9,941)
Net cash provided by operating activities 339,742 289,049
Cash flows from investing activities:    
Acquisition of real estate assets (238,153) (72,651)
Development and redevelopment of real estate assets (27,893) (12,274)
Proceeds from sale of real estate assets, investments in real estate ventures and other assets 753 101
Investment in unconsolidated real estate ventures (34,752) (2,670)
Return of investment in unconsolidated real estate ventures 47,944 581
Principal payments received from notes receivable 25,226 44,869
Purchase of equipment and fixtures (2,220) (4,110)
Net cash used in investing activities (229,095) (46,154)
Cash flows from financing activities:    
Proceeds from notes payable and revolving lines of credit 645,386 652,446
Principal payments on notes payable and revolving lines of credit (487,016) (686,443)
Deferred financing costs (3,028) (2,925)
Repurchase of exchangeable senior notes (58,469) 0
Net proceeds from exercise of stock options 1,170 0
Redemption of Operating Partnership units held by noncontrolling interests (2,558) (2,510)
Contributions from noncontrolling interests 120 0
Dividends paid on common stock (206,813) (196,468)
Distributions to noncontrolling interests (16,377) (16,325)
Net cash used in financing activities (127,585) (252,225)
Net decrease in cash, cash equivalents, and restricted cash (16,938) (9,330)
Cash, cash equivalents, and restricted cash, beginning of the period 86,044 57,742
Cash, cash equivalents, and restricted cash end of the period 69,106 48,412
Supplemental schedule of cash flow information    
Interest paid 78,602 67,808
Income taxes paid 1,836 7,544
Supplemental schedule of noncash investing and financing activities:    
Noncontrolling interests in Operating Partnership 383 0
Common stock and paid-in capital 383 0
Acquisitions of real estate assets    
Real estate assets, net 308,071 60,197
Notes payable assumed 87,500 9,463
Investment in unconsolidated real estate ventures 535 0
Accrued construction costs and capital expenditures    
Acquisition of real estate assets 1,184 6,580
Development and redevelopment of real estate assets 1,558 2,798
Accounts payable and accrued expenses (2,742) (9,378)
Acquisitions of real estate assets    
Acquisitions of real estate assets    
Real estate assets, net 88,842 18,100
Value of Operating Partnership units issued 1,877 6,810
Notes payable assumed 87,500 9,463
Other noncontrolling interests $ 0 $ 1,827