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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 28,566 $ 25,060
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,776 32,338
Amortization of above/below market leases (175) (124)
Amortization of deferred financing costs 566 369
Share-based compensation 2,626 1,802
Bad debt expense (145) (96)
Changes in operating assets and liabilities:    
Accounts receivable 3,942 3,853
Deferred rent receivable (1,250) (1,350)
Deferred leasing costs (3,405) (3,660)
Other assets (4,709) (7,243)
Accounts payable and accrued expenses (1,956) 846
Unearned revenue, prepaid rent and other liabilities 1,911 (2,255)
Operating leases (1,400) 1,405
Net cash provided by operating activities 58,347 50,945
CASH FLOWS FROM INVESTING ACTIVITIES    
Tenant improvements (1,295) (2,608)
Real estate improvements (54,338) (42,586)
Acquisition of CH2 land (4,383)  
Net cash used in investing activities (60,016) (45,194)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 100 4,174
Proceeds from revolving credit facility 67,000 38,000
Payments on revolving credit facility (20,000) (9,000)
Dividends and distributions (47,599) (40,968)
Net cash used in financing activities (499) (7,794)
Net change in cash and cash equivalents (2,168) (2,043)
Cash and cash equivalents, beginning of period 5,247 4,429
Cash and cash equivalents, end of period 3,079 2,386
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest, net of capitalized amounts 4,354 3,302
Cash paid for operating lease liabilities 6,795 5,132
NON-CASH INVESTING AND FINANCING ACTIVITY    
Construction costs payable capitalized to real estate 22,061 9,461
Accrual of dividends and distributions $ 48,678 41,097
Lease liabilities arising from obtaining right-of-use assets   $ 8,330