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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 80,867 $ 46,359 $ 57,923
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization (including below-market ground leases) 52,819 51,866 45,783
Amortization of deferred financing costs 1,950 2,003 1,938
Amortization of stock-based compensation 3,790 4,104 3,848
Straight-line rental income (77) (1,385) (2,333)
Adjustment for collectibility of rental income 0 11,774 0
Noncash interest income 0 (797) (238)
Loss (gain) on sale of real estate 37 (1,777) (2,051)
Interest income distribution from other real estate investment 1,346 463 0
Impairment of real estate investments 0 16,692 0
Provision for loan losses 0 1,076 0
Change in operating assets and liabilities:      
Accounts and other receivables, net 825 (6,283) (3,800)
Prepaid expenses and other assets, net 387 (495) (270)
Accounts payable and accrued liabilities 3,791 2,695 (1,443)
Net cash provided by operating activities 145,735 126,295 99,357
Cash flows from investing activities:      
Acquisitions of real estate, net of deposits applied (89,650) (321,458) (111,640)
Purchases of, and improvements to, equipment, furniture and fixtures and real estate (8,297) (6,289) (9,012)
Investment in real estate mortgage and other loans receivable (30,498) (18,246) (5,648)
Principal payments received on real estate mortgage and other loans receivable 80,928 24,283 3,227
Repayment of other real estate investment 2,327 2,204 0
Escrow deposits for potential acquisitions of real estate (3,000) 0 (5,000)
Net proceeds from sales of real estate 6,608 3,499 13,004
Net cash used in investing activities (41,582) (316,007) (115,069)
Cash flows from financing activities:      
Proceeds from (costs paid for) the issuance of common stock, net (404)    
Proceeds from (costs paid for) the issuance of common stock, net   195,924 179,882
Proceeds from the issuance of senior unsecured term loan 0 200,000 0
Borrowings under unsecured revolving credit facility 65,000 243,000 65,000
Payments on senior unsecured term loan 0 (100,000) 0
Payments on unsecured revolving credit facility (75,000) (278,000) (135,000)
Payments of deferred financing costs 0 (4,534) 0
Net-settle adjustment on restricted stock (1,996) (2,524) (1,288)
Dividends paid on common stock (93,161) (80,619) (62,999)
Net cash (used in) provided by financing activities (105,561) 173,247 45,595
Net (decrease) increase in cash and cash equivalents (1,408) (16,465) 29,883
Cash and cash equivalents, beginning of period 20,327 36,792 6,909
Cash and cash equivalents, end of period 18,919 20,327 36,792
Supplemental disclosures of cash flow information:      
Interest paid 21,691 26,005 25,941
Supplemental schedule of noncash investing and financing activities:      
Increase in dividends payable 2,568 3,900 3,739
Right-of-use asset obtained in exchange for new operating lease obligation 599 1,010 0
Transfer of pre-acquisition costs to acquired assets 168 242 0
Sale of real estate settled with notes receivable $ 32,400 $ 27,500 $ 0