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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash Flows From Operating Activities      
Net income (loss) $ 63,212 $ (13,037) $ (22,889)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 216,894 201,806 191,006
Gain on sale/disposition of properties (33,988) 0 0
Impairment charges 0 7,723 6,204
Amortization of non-cash items within interest expense 9,799 10,862 9,482
Amortization of acquired above and below-market leases, net (4,759) (5,896) (3,627)
Amortization of acquired below-market ground leases 7,831 7,831 7,831
Straight-lining of rental revenue (24,562) (21,078) (5,238)
Equity based compensation 21,011 20,260 25,495
Settlement of derivative contract 0 0 (20,281)
Loss on early extinguishment of debt 0 214 86
Increase (decrease) in cash flows due to changes in operating assets and liabilities:      
Security deposits (828) (1,052) (151)
Tenant and other receivables (5,306) 2,894 3,881
Deferred leasing costs (36,909) (16,090) (14,464)
Prepaid expenses and other assets (2,263) 5,814 (11,730)
Accounts payable and accrued expenses 4,705 (99) (3,305)
Deferred revenue and other liabilities (3,664) 12,334 19,993
Net cash provided by operating activities 211,173 212,486 182,293
Cash Flows From Investing Activities      
Net proceeds from disposition of real estate 11,005 0 0
Additions to building and improvements (126,268) (95,037) (143,118)
Development costs (35) (165) 0
Acquisition of real estate property (115,593) (117,540) 0
Net cash used in investing activities (230,891) (212,742) (143,118)
Cash Flows From Financing Activities      
Proceeds from mortgage notes payable 0 0 180,000
Repayment of mortgage notes payable (7,504) (4,091) (3,938)
Proceeds from unsecured senior notes 0 0 175,000
Proceeds from unsecured term loan 0 0 175,000
Repayment of unsecured term loan 0 0 (50,000)
Proceeds from unsecured revolving credit facility 0 0 550,000
Repayment of unsecured revolving credit facility 0 0 (550,000)
Contributions from consolidated joint ventures 224 0 0
Deferred financing costs 0 (9,486) (10,135)
Repurchases of common shares (90,176) (46,704) (143,713)
Private perpetual preferred unit distributions (4,201) (4,201) (4,197)
Dividends paid to common stockholders (23,109) (18,110) (37,181)
Distributions paid to noncontrolling interests in the operating partnership (15,476) (10,453) (23,669)
Net cash(used in) provided by financing activities (140,242) (93,045) 257,167
Net increase (decrease) in cash and cash equivalents and restricted cash (159,960) (93,301) 296,342
Cash and cash equivalents and restricted cash—beginning of period 474,638 567,939 271,597
Cash and cash equivalents and restricted cash—end of period 314,678 474,638 567,939
Reconciliation of Cash and Cash Equivalents and Restricted Cash:      
Cash and cash equivalents at beginning of period 423,695 526,714 233,946
Restricted cash at beginning of period 50,943 41,225 37,651
Cash and cash equivalents and restricted cash—end of period 264,434 423,695 526,714
Restricted cash at end of period 50,244 50,943 41,225
Cash and cash equivalents and restricted cash 314,678 474,638 567,939
Supplemental disclosures of cash flow information:      
Cash paid for interest 91,012 77,610 75,416
Cash paid for income taxes 200 644 1,282
Non-cash investing and financing activities:      
Building and improvements included in accounts payable and accrued expenses 44,293 49,247 58,057
Write-off of fully depreciated assets 35,124 31,341 79,527
Derivative instruments at fair values included in prepaid expenses and other assets 17,902 0 0
Derivative instruments at fair values included in accounts payable and accrued expenses 0 25,308 8,849
Conversion of operating partnership units and Class B shares to Class A shares 4,495 10,426 29,863
Transfer of assets related to assets held for sale 35,538 0 0
Transfer of liabilities related to assets held for sale 5,943 0 0
Mortgage assumed in connection with sale of real estate 30,117 0 0
Issuance of Series 2019 private perpetual preferred in exchange for common units 0 0 789
Debt assumed with the acquisition of real estate properties 0 177,453 0
Contribution from other partnerships $ 0 $ 13,269 $ 0