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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net (loss) income $ 24,242 $ 72,648
Adjustments to reconcile net income to net cash provided by operating activities:    
Income from unconsolidated Funds (183) (3,758)
Depreciation and amortization 196,542 158,597
Net accretion of acquired lease intangibles (8,571) (8,516)
Straight-line rent 16,758 (6,684)
Write-off of uncollectible amounts 15,992 9
Loan premium amortized and written off (2,043) (102)
Deferred loan costs amortized and written off 3,791 4,380
Derivative non-cash adjustments 0 (7)
Amortization of stock-based compensation 5,753 5,013
Operating distributions from unconsolidated Funds 394 3,756
Change in working capital components:    
Tenant receivables (27,686) (837)
Interest payable, accounts payable and deferred revenue 9,811 (2,222)
Security deposits (2,504) 501
Other assets 4,513 5,398
Net cash provided by operating activities 236,809 228,176
Investing Activities    
Capital expenditures for improvements to real estate (74,151) (83,944)
Capital expenditures for developments (53,780) (30,327)
Insurance recoveries for damage to real estate 4,015 0
Property acquisition 0 (364,524)
Acquisition of additional interests in unconsolidated Fund (6,591) (7,518)
Capital distributions from unconsolidated Funds 548 3,869
Net cash used in investing activities (129,959) (482,444)
Financing Activities    
Proceeds from borrowings 544,000 832,318
Repayment of borrowings (494,372) (657,673)
Loan cost payments (3,824) (6,625)
Contributions from noncontrolling interests in consolidated JVs 0 163,556
Distributions paid to noncontrolling interests (31,814) (31,530)
Dividends paid to common stockholders (98,123) (88,518)
Repurchase of OP Units (7) (507)
Proceeds from issuance of common stock, net 0 200,982
Net cash used in financing activities (84,140) 412,003
Increase in cash and cash equivalents and restricted cash 22,710 157,735
Cash and cash equivalents and restricted cash - beginning balance 153,804 146,348
Cash and cash equivalents and restricted cash - ending balance 176,514 304,083
Reconciliation of Ending Cash Balance    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Total 176,514 304,083
Operating Activities    
Cash paid for interest, net of capitalized interest 68,837 62,985
Capitalized interest paid 1,992 1,897
Non-cash Investing Transactions    
Accrual for real estate and development capital expenditures 31,400 16,687
Capitalized stock-based compensation for improvements to real estate and developments 1,610 1,008
Removal of fully depreciated and amortized tenant improvements and lease intangibles 32,305 30,586
Removal of fully amortized acquired lease intangible assets 175 1,859
Removal of fully accreted acquired lease intangible liabilities 3,604 4,212
Property acquisition accrual 0 1,361
Recognition of ground lease right-of-use asset - Adoption of ASU 2016-02 0 10,885
Above-market ground lease intangible liability offset against right-of-use asset - Adoption of ASU 2016-02 0 3,408
Recognition of ground lease liability - Adoption of ASU 2016-02 0 10,885
Non-cash Financing Transactions    
Loss recorded in AOCI - derivatives (241,189) (89,483)
Non-cash contributions from noncontrolling interests in consolidated JVs 0 12,444
Non-cash distributions to noncontrolling interests 0 12,444
Dividends declared 98,125 89,820
Exchange of OP Units for common stock 90 1,223
Unconsolidated Funds    
Non-cash Financing Transactions    
Loss recorded in AOCI - derivatives $ (403) $ (6,928)