XML 19 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 186,899 $ 66,923
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and impairment 49,463 60,360
Proceeds from insurance settlement (2,474) 0
Amortization of above and below market lease intangibles, net (3,060) (3,982)
Amortization of deferred financing fees 2,081 2,527
Accretion of direct financing lease (816) (733)
Amortization of leasing costs and other intangibles 4,288 1,966
Amortization of stock-based compensation 2,907 2,921
Straight-lining of rental income, net (408) (41)
Gain on real estate dispositions (104,420) (752)
Net gain on lease termination (23,743) 0
Loss on extinguishment of debt 386 1,102
Deferred income tax (benefit) expense (137) 131
Other (27) (52)
Changes in operating assets and liabilities, net of effects of acquisitions:    
Increase in other assets (4,251) (2,260)
Increase (decrease) in tenant deposits 2,496 (3,445)
Decrease in accounts payable and other liabilities (4,519) (3,844)
Net cash provided by operating activities 104,665 120,821
Cash flows from investing activities:    
Net investment in real estate property (371,840) 0
Proceeds from real estate disposals 93,718 76,990
Investment in loans receivable (63,684) (37,996)
Proceeds from loans receivable 45,818 35,226
Development project expenditures (7,645) (19,473)
Capital expenditures (3,733) (2,700)
Proceeds from insurance settlement 2,474 0
Net cash (used in) provided by investing activities (304,892) 52,047
Cash flows from financing activities:    
Net change in borrowings under revolving credit facility 378,000 (80,500)
Proceeds from debt 0 300,000
Repayment of debt (36,500) (298,000)
Payment of deferred financing costs 0 (2,009)
Distributions to noncontrolling interest (66) (62)
Purchase of treasury stock (1,234) (654)
Cash distribution to common stockholders (143,692) (95,724)
Net cash provided by (used in) financing activities 196,508 (176,949)
Net decrease in cash (3,719) (4,081)
Cash at beginning of period 15,813 16,995
Cash at end of period 12,094 12,914
Supplemental disclosure of cash flow information:    
Interest paid 32,946 17,836
Income taxes (net refunded) paid (12) 505
Supplemental schedule of non-cash activities:    
Transfer of real estate to receivables 68,764 29,432
Settlement of accrued acquisition costs via transfer of stock 0 1,373
(Decrease) increase in accrued capital expenditures (2,568) 996
Transfer of liability accounted stock-based compensation awards to equity 1,322 1,379
Other acquisition-related investing activities (9,760) 0
Proceeds from sales of real estate received in restricted cash $ 4,585 $ 0