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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 217,717 $ 215,501
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,906 58,599
Amortization of deferred financing costs 1,984 2,286
Non-cash lease expense 474 487
Compensation expense related to stock-based awards 4,542 3,652
Accrual of interest income added to principal of debt securities and notes receivable (9,951) (8,533)
Gain on real estate transactions 0 (63,883)
Distributions from unconsolidated real estate ventures in excess of earnings 2,795 1,863
Changes in operating assets and liabilities:    
Other assets (6,209) (2,737)
Accounts payable and accrued expenses (7,665) (2,691)
Other liabilities 15,872 (664)
Net cash provided by operating activities 287,465 203,880
Cash flows from investing activities:    
Acquisition of real estate assets (195,805) (161,752)
Development and redevelopment of real estate assets (14,716) (14,086)
Proceeds from sale of real estate assets and investments in real estate ventures 0 132,733
Investment in unconsolidated real estate entities (4,321) (250)
Return of investment in unconsolidated real estate ventures 342 31,169
Issuance and purchase of notes receivable (134,408) (25,772)
Principal payments received from notes receivable 195,803 0
Proceeds from sale of notes receivable 39,718 81,250
Purchase of equipment and fixtures (7,985) (697)
Net cash provided by (used in) investing activities (121,372) 42,595
Cash flows from financing activities:    
Proceeds from the sale of common stock, net of offering costs 0 273,720
Proceeds from notes payable and revolving lines of credit 889,829 1,747,000
Principal payments on notes payable and revolving lines of credit (1,230,924) (2,193,409)
Proceeds from issuance of public bonds, net 400,000 0
Deferred financing costs (5,842) (1,689)
Net proceeds from exercise of stock options 0 4,254
Redemption of Operating Partnership units held by noncontrolling interests (2,672) 0
Redemption of Preferred B Units for cash (3,375) 0
Contributions from noncontrolling interests 0 0
Dividends paid on common stock (202,527) (132,540)
Distributions to noncontrolling interests (14,110) (9,025)
Net cash used in financing activities (169,621) (311,689)
Net decrease in cash, cash equivalents, and restricted cash (3,528) (65,214)
Cash, cash equivalents, and restricted cash, beginning of the period 76,194 128,009
Cash, cash equivalents, and restricted cash, end of the period 72,666 62,795
Supplemental schedule of cash flow information    
Interest paid 43,197 44,887
Income taxes paid 703 1,047
Redemption of Operating Partnership units held by noncontrolling interests for common stock    
Noncontrolling interests in Operating Partnership 0 (4,005)
Common stock and paid-in capital 0 4,005
Acquisition and establishment of operating lease right of use assets and lease liabilities    
Real estate assets - operating lease right-of-use assets 1,440 2,369
Operating lease liabilities (1,440) (2,369)
Acquisitions of real estate assets    
Real estate assets, net 40,492 41,491
Value of Operating Partnership and Preferred Operating Partnership units issued (40,965) 0
Investment in unconsolidated real estate ventures 747 0
Net liabilities assumed (274) 0
Finance lease liability 0 (41,491)
Accrued construction costs and capital expenditures    
Acquisition of real estate assets 2,236 1,723
Accounts payable and accrued expenses (2,236) (1,723)
Redemption of Preferred Operating Partnership units for common stock    
Preferred Operating Partnership units 0 (2,724)
Additional paid-in capital 0 2,724
Establishment of finance lease assets and lease liabilities    
Real estate assets, net 0 40,993
Other liabilities 0 (40,993)
Investment in unconsolidated real estate ventures received on sale of stores to joint venture    
Investment in unconsolidated real estate ventures 0 33,878
Real estate assets $ 0 $ (33,878)