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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 51,648 $ 55,845
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 72,642 69,334
Amortization of above/below market leases (172) (339)
Amortization of deferred financing costs and hedge amortization 1,467 1,119
Share-based compensation 7,049 5,812
Bad debt expense 195 (88)
Changes in operating assets and liabilities:    
Accounts receivable (11,489) 4,183
Deferred rent receivable 2,548 (2,667)
Deferred leasing costs (6,983) (5,976)
Other assets (1,121) (2,211)
Accounts payable and accrued expenses 6,946 (341)
Unearned revenue, prepaid rent and other liabilities (8,819) (746)
Operating leases 1,466 442
Net cash provided by operating activities 115,377 124,367
CASH FLOWS FROM INVESTING ACTIVITIES    
Tenant improvements (2,144) (2,667)
Real estate improvements (158,745) (107,093)
Business combinations and asset acquisitions (26,060) (10,681)
Net cash used in investing activities (186,949) (120,441)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 38 219
Proceeds from revolving credit facility 199,250 122,500
Payments on revolving credit facility (343,500) (180,036)
Proceeds from unsecured debt 325,000 150,000
Payments of loan fees and costs (2,305) (4,837)
Dividends and distributions (106,674) (94,185)
Net cash provided by (used in) financing activities 71,809 (6,339)
Net change in cash and cash equivalents 237 (2,413)
Cash and cash equivalents, beginning of period 2,599 5,247
Cash and cash equivalents, end of period 2,836 2,834
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest, net of capitalized amounts 16,811 15,419
Cash paid for operating lease liabilities 12,159 10,628
NON-CASH INVESTING AND FINANCING ACTIVITY    
Construction costs payable capitalized to real estate 66,925 26,868
Accrual of dividends and distributions $ 61,332 51,760
NON-CASH OPERATING ACTIVITY    
Lease liabilities arising from obtaining right-of-use assets   $ 96,790