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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 108,563 $ 32,749
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 160,215 133,844
Loss on impairments 3,172 9,757
Gain on involuntary conversion (2,157) 0
Non-cash portion of interest expense 2,172 1,909
Amortization of above and below market leases, net 3,629 3,344
Straight-line rent adjustments, net (8,170) (8,586)
Dividends on forfeited equity compensation 0 7
Loss on extinguishment of debt 834 0
Gain on the sales of rental property, net (56,864) (3,261)
Non-cash compensation expense 8,736 7,371
Change in assets and liabilities:    
Tenant accounts receivable 1,181 509
Prepaid expenses and other assets (13,638) (10,525)
Accounts payable, accrued expenses and other liabilities 15,038 8,834
Tenant prepaid rent and security deposits 1,420 (1,022)
Total adjustments 115,568 142,181
Net cash provided by operating activities 224,131 174,930
Cash flows from investing activities:    
Acquisitions of land and buildings and improvements (162,086) (616,647)
Additions of land and building and improvements (39,687) (40,193)
Acquisitions of other assets 450 2,513
Proceeds from sales of rental property, net 121,339 23,700
Proceeds from involuntary conversion 782 0
Acquisition deposits, net (1,124) (1,190)
Acquisitions of deferred leasing intangibles (32,815) (128,832)
Acquisitions of operating lease liabilities 2,321 0
Net cash used in investing activities (114,041) (765,675)
Cash flows from financing activities:    
Proceeds from unsecured credit facility 387,000 768,000
Repayment of unsecured credit facility (533,000) (790,500)
Proceeds from unsecured term loans 400,000 175,000
Repayment of unsecured term loans (300,000) 0
Repayment of mortgage notes (2,485) (1,441)
Payment of loan fees and costs 1,129 1,226
Payment of defeasance fees and other costs (425) 0
Proceeds from sales of common stock, net 172,605 568,390
Dividends and distributions 168,288 139,303
Repurchase and retirement of share-based compensation (1,472) (1,444)
Net cash provided by (used in) financing activities (47,194) 577,476
Increase (decrease) in cash and cash equivalents and restricted cash 62,896 (13,269)
Cash and cash equivalents and restricted cash—beginning of period 11,864 22,542
Cash and cash equivalents and restricted cash—end of period 74,760 9,273
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest 41,797 35,372
Supplemental schedule of non-cash investing and financing activities    
Acquisitions of land and buildings and improvements 482 72
Acquisitions of deferred leasing intangibles 106 24
Change in additions of land, building, and improvements included in accounts payable, accrued expenses, and other liabilities (3,970) (10,824)
Additions to building and other capital improvements from non-cash compensation (24) (59)
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses, and other liabilities (1,020) (314)
Leases cumulative effect adjustment 0 (214)
Dividends and distributions payable 18,302 16,293
Payment to acquire operating lease right-of-use assets $ 2,321 $ 0