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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 84,354 $ 21,559
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 106,294 86,936
Loss on impairments 0 5,344
Gain on involuntary conversion (657) 0
Non-cash portion of interest expense 1,422 1,236
Amortization of above and below market leases, net 2,152 2,102
Straight-line rent adjustments, net (5,498) (5,522)
Dividends on forfeited equity compensation 0 7
Loss on extinguishment of debt 834 0
Gain on the sales of rental property, net (47,804) (1,591)
Non-cash compensation expense 5,790 4,815
Change in assets and liabilities:    
Tenant accounts receivable (475) 1,389
Prepaid expenses and other assets (4,116) (3,338)
Accounts payable, accrued expenses and other liabilities 3,243 (1,433)
Tenant prepaid rent and security deposits 2,549 (933)
Total adjustments 63,734 89,012
Net cash provided by operating activities 148,088 110,571
Cash flows from investing activities:    
Acquisitions of land and buildings and improvements (110,121) (368,188)
Additions of land and building and improvements (27,299) (18,949)
Acquisitions of other assets 450 1,049
Proceeds from sales of rental property, net 101,881 17,688
Proceeds from involuntary conversion 782 0
Acquisition deposits, net 660 2,142
Acquisitions of deferred leasing intangibles (20,542) (76,188)
Net cash used in investing activities (55,089) (444,544)
Cash flows from financing activities:    
Proceeds from unsecured credit facility 387,000 381,000
Repayment of unsecured credit facility (533,000) (352,500)
Proceeds from unsecured term loans 400,000 0
Repayment of unsecured term loans (300,000) 0
Repayment of mortgage notes (1,993) (961)
Payment of loan fees and costs 1,129 48
Payment of defeasance fees and other costs (425) 0
Proceeds from sales of common stock, net 172,626 384,913
Dividends and distributions 111,868 89,934
Repurchase and retirement of share-based compensation (1,472) (1,444)
Net cash provided by financing activities 9,739 321,026
Increase (decrease) in cash and cash equivalents and restricted cash 102,738 (12,947)
Cash and cash equivalents and restricted cash—beginning of period 11,864 22,542
Cash and cash equivalents and restricted cash—end of period 114,602 9,595
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest 28,520 21,965
Supplemental schedule of non-cash investing and financing activities    
Acquisitions of land and buildings and improvements 111 72
Acquisitions of deferred leasing intangibles 33 24
Change in additions of land, building, and improvements included in accounts payable, accrued expenses, and other liabilities 683 (7,351)
Additions to building and other capital improvements from non-cash compensation (17) (40)
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses, and other liabilities (1,020) (62)
Leases cumulative effect adjustment 0 (214)
Dividends and distributions payable $ 18,301 $ 16,822