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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 34,200 $ (224,533)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation 20,781 19,363
Net amortization of debt premiums and discounts and debt issuance costs 1,219 660
Gain on early extinguishment of debt (104)  
Straight line rental income (584) (2,207)
Amortization of acquired real estate leases 14,842 14,617
Amortization of deferred leasing costs 1,475 1,087
Other non-cash (income) expense, net 302 1,057
Equity in earnings of investees (19,334) (5,778)
(Gain) loss on issuance of shares by Select Income REIT (16) 42,124
Loss on impairment of Select Income REIT investment   203,297
Distributions of earnings from Select Income REIT 17,760 10,425
Change in assets and liabilities:    
Restricted cash 678 (174)
Deferred leasing costs (3,409) (2,123)
Rents receivable 1,428 539
Other assets 1,120 2,027
Accounts payable and accrued expenses 971 1,491
Due to related persons 692 983
Net cash provided by operating activities 72,021 62,855
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions and deposits (79,285) (1,400)
Real estate improvements (14,149) (5,386)
Investment in Select Income REIT   (95,821)
Investment in The RMR Group Inc.   (6,468)
Distributions in excess of earnings from Select Income REIT 7,158 11,687
Proceeds from sale of properties, net   30,520
Net cash used in investing activities (86,276) (66,868)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (107,202) (1,203)
Proceeds from issuance of senior unsecured notes 310,000  
Borrowings on unsecured revolving credit facility 229,000 100,000
Repayments on unsecured revolving credit facility (346,000) (41,000)
Payment of debt issuance costs (10,138) (16)
Distributions to common shareholders (61,169) (60,508)
Net cash provided by (used in) financing activities 14,491 (2,727)
Increase (decrease) in cash and cash equivalents 236 (6,740)
Cash and cash equivalents at beginning of period 8,785 13,791
Cash and cash equivalents at end of period 9,021 7,051
Supplemental cash flow information:    
Interest paid 17,343 17,980
Income taxes paid 76 $ 78
Interest capitalized $ 9  
Non-cash investing activities:    
Investment in The RMR Group Inc. paid in common shares   13,836