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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities    
Net income $ 50,504 $ 41,345
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81,378 77,775
Amortization of deferred financing costs and debt premiums and discount 487 293
Amortization of acquired above- and below-market leases, net (2,548) (5,075)
Amortization of acquired below-market ground leases 3,916 3,916
Straight-lining of rental revenue (13,396) (11,876)
Equity based compensation 6,967 4,646
Unrealized loss from derivative financial instruments (6,003) 0
Increase (decrease) in cash flows due to changes in operating assets and liabilities:    
Restricted cash (2,423) 337
Tenant and other receivables (1,452) 4,261
Deferred leasing costs (12,766) (10,528)
Prepaid expenses and other assets (1,489) 2,566
Accounts payable and accrued expenses (10,909) (7,239)
Deferred revenue and other liabilities (4,832) (8,369)
Net cash provided by operating activities 87,434 92,052
Cash Flows From Investing Activities    
Decrease (increase) in restricted cash for investing activities (1,587) 5,077
Development costs (27) (450)
Additions to building and improvements (103,614) (78,656)
Net cash used in investing activities (105,228) (74,029)
Cash Flows From Financing Activities    
Proceeds from mortgage notes payable 315,000 50,000
Repayment of mortgage notes payable (342,703) (26,215)
Proceeds from unsecured revolving credit facility 0 40,000
Repayments of unsecured revolving credit facility 0 (40,000)
Deferred financing costs (4,508) (1,366)
Private perpetual preferred unit distributions (468) (468)
Dividends paid to common stockholders (33,118) (23,253)
Distributions paid to non-controlling interests in the operating partnership (29,822) (27,952)
Net cash used in financing activities (95,619) (29,254)
Net decrease in cash and cash equivalents (113,413) (11,231)
Cash and cash equivalents—beginning of period 554,371 46,685
Cash and cash equivalents—end of period 440,958 35,454
Supplemental disclosures of cash flow information:    
Cash paid for interest 35,751 34,034
Cash paid for income taxes 3,014 2,058
Non-cash investing and financing activities:    
Building and improvements included in accounts payable and accrued expenses 72,363 59,504
Derivative instruments at fair values included in accounts payable and accrued expenses 11,947 30,235
Conversion of operating partnership units and Class B shares to Class A shares $ 9,134 $ 15,201