XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 15,131 $ 23,604
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 38,966 30,819
Amortization of intangibles 28,551 31,568
Amortization of deferred financing costs 3,657 2,919
Amortization of mortgage discounts and premiums, net 13 202
Amortization of below-market lease liabilities (1,637) (2,006)
Amortization of above-market lease assets 1,659 2,220
Amortization of above- and below- market ground lease assets 414 467
Amortization of lease incentive 111 0
Bad debt expense 0 136
Unbilled straight-line rent (4,555) (3,557)
Equity-based compensation 5,001 4,538
Unrealized (gain) loss on foreign currency transactions, derivatives, and other (757) (3)
Unrealized loss on undesignated foreign currency advances and other hedge ineffectiveness 0 76
Payments for settlement of derivatives 0 (1,773)
Loss on extinguishment of debt 0 (765)
Loss (gain) on disposition of real estate investments 153 (7,815)
Lease incentive payment (4,676) 0
Changes in operating assets and liabilities, net:    
Prepaid expenses and other assets 5,477 (3,523)
Deferred tax assets 7 5
Accounts payable and accrued expenses 3,533 (10,592)
Prepaid rent 128 4,896
Deferred tax liability (416) (87)
Taxes payable (1,046) (1,615)
Net cash provided by operating activities 89,714 71,244
Cash flows from investing activities:    
Investment in real estate and real estate related assets (144,689) (210,991)
Deposits for future real estate acquisitions (173) (2,270)
Capital expenditures (2,189) (12,146)
Proceeds from dispositions of real estate investments 0 89,916
Net cash used in investing activities (147,051) (135,491)
Cash flows from financing activities:    
Borrowings under revolving credit facilities 227,000 116,000
Repayments on revolving credit facilities (77,343) (220,000)
Proceeds from mortgage notes payable 75,607 375,369
Payments on mortgage notes payable (27,003) (213,192)
Loss on extinguishment of debt 309 0
Common stock issuance (costs) proceeds, net   150,586
Payments of financing costs (2,552) (5,768)
Dividends paid on Common Stock (83,422) (58,153)
Distributions to non-controlling interest holders (234) (270)
Net cash provided by financing activities 103,412 153,144
Net change in cash, cash equivalents and restricted cash 46,075 88,897
Effect of exchange rate changes on cash (2,780) (915)
Cash, cash equivalents and restricted cash, beginning of period 274,287 103,693
Cash, cash equivalents and restricted cash, end of period 317,582 191,675
Cash, cash equivalents and restricted cash, end of period 317,582 191,675
Common Stock    
Cash flows from financing activities:    
Stock issuance costs, net (7)  
Series A Preferred Stock    
Cash flows from financing activities:    
Stock issuance costs, net (75)  
Preferred stock issuance costs, net   13,512
Dividends paid on Preferred Stock (6,163) (4,940)
Series B Preferred Stock    
Cash flows from financing activities:    
Stock issuance costs, net (28)  
Preferred stock issuance costs, net   0
Dividends paid on Preferred Stock $ (2,059) $ 0