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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES:    
Net income $ 7,912 $ 24,920
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation expense 38,174 32,114
Depreciation and amortization, including amortization of debt issuance costs 102,896 97,053
Deferred rent (11,728) (18,342)
(Income) loss from unconsolidated real estate ventures, net 16,177 (1,791)
Amortization of market lease intangibles, net (260) (272)
Amortization of lease incentives 3,525 3,789
Loss on extinguishment of debt 33 1,889
Gain on sale of real estate (59,477) (39,033)
Net unrealized loss (gain) on ineffective derivative financial instruments (30) 48
Losses on operating lease and other receivables 10,614 497
Return on capital from unconsolidated real estate ventures 1,877 1,493
Other non-cash items 104 271
Changes in operating assets and liabilities:    
Tenant and other receivables (10,198) (6,232)
Other assets, net (87) (2,940)
Accounts payable and accrued expenses (1,617) (28,513)
Other liabilities, net (12,396) (12,168)
Net cash provided by operating activities 85,519 52,783
INVESTING ACTIVITIES:    
Development costs, construction in progress and real estate additions 181,232 181,007
Deposits for real estate acquisitions   (8,525)
Proceeds from sale of real estate 154,493 117,676
Distributions of capital from unconsolidated real estate ventures 70,818 7,557
Investments in unconsolidated real estate ventures (10,733) (4,409)
Net cash provided by (used in) investing activities 33,346 (68,708)
FINANCING ACTIVITIES:    
Finance lease payments (3,031) (66)
Borrowings under mortgages payable 195,159  
Borrowings under revolving credit facility 500,000  
Borrowings under unsecured term loans 100,000  
Repayments of mortgages payable (4,437) (480,674)
Repayments of revolving credit facility (200,000)  
Debt issuance costs (9,774) (515)
Proceeds from the issuance of common stock, net of issuance costs   473,527
Proceeds from common stock issued pursuant to ESPP 887  
Common shares repurchased (41,192)  
Dividends paid to common shareholders (60,327) (69,473)
Distributions to redeemable noncontrolling interests (7,610) (9,734)
Distributions to noncontrolling interests (23) (19)
Contributions from noncontrolling interests   125
Net cash provided by (used in) financing activities 469,652 (86,829)
Net increase (decrease) in cash and cash equivalents and restricted cash 588,517 (102,754)
Cash and cash equivalents and restricted cash as of the beginning of the period 142,516 399,532
Cash and cash equivalents and restricted cash as of the end of the period 731,033 296,778
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:    
Cash paid for interest (net of capitalized interest of $8,633 and $14,953 in 2020 and 2019) 25,647 29,179
Accrued capital expenditures included in accounts payable and accrued expenses 70,367 89,048
Write-off of fully depreciated assets 13,378 26,974
Conversion of common limited partnership units to common shares 35,878 57,318
Recognition (derecognition) of operating lease right-of-use assets (13,151) 35,318
Recognition (derecognition) of liabilities related to operating lease right-of-use assets (13,151) 37,922
Recognition of finance lease right-of-use assets 42,354  
Recognition of liabilities related to finance lease right-of-use assets 40,684  
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 4,015 $ 3,068