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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES:    
Net income (loss) $ (17,093) $ 35,452
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation expense 53,183 47,432
Depreciation and amortization, including amortization of debt issuance costs 160,395 144,868
Deferred rent (19,124) (29,164)
(Income) loss from unconsolidated real estate ventures, net 17,142 (647)
Amortization of market lease intangibles, net (356) (486)
Amortization of lease incentives 5,144 4,344
Loss on extinguishment of debt 33 1,889
Gain on sale of real estate (59,477) (47,121)
Net unrealized loss on ineffective derivative financial instruments 173 50
Losses on operating lease and other receivables 14,750 1,281
Return on capital from unconsolidated real estate ventures 3,697 1,836
Other non-cash items 265 70
Changes in operating assets and liabilities:    
Tenant and other receivables (4,757) (9,077)
Other assets, net (11,566) (13,858)
Accounts payable and accrued expenses 1,366 (17,171)
Other liabilities, net (15,747) (7,009)
Net cash provided by operating activities 127,855 112,639
INVESTING ACTIVITIES:    
Development costs, construction in progress and real estate additions (245,456) (294,355)
Deposits for real estate and other acquisitions (25,274) (9,125)
Proceeds from sale of real estate 154,493 157,810
Distributions of capital from unconsolidated real estate ventures 70,818 7,557
Investments in unconsolidated real estate ventures (12,277) (7,325)
Net cash used in investing activities (57,696) (145,438)
FINANCING ACTIVITIES:    
Finance lease payments (3,281) (103)
Borrowings under mortgages payable 580,105  
Borrowings under revolving credit facility 500,000  
Borrowings under unsecured term loans 100,000  
Repayments of mortgages payable (6,680) (482,810)
Repayments of revolving credit facility (700,000)  
Debt issuance costs (14,856) (515)
Proceeds from the issuance of common stock, net of issuance costs   472,780
Proceeds from common stock issued pursuant to ESPP 887 747
Common shares repurchased (74,434)  
Dividends paid to common shareholders (90,347) (99,654)
Distributions to redeemable noncontrolling interests (11,333) (13,564)
Distributions to noncontrolling interests (23) (19)
Contributions from noncontrolling interests   125
Net cash provided by (used in) financing activities 280,038 (123,013)
Net increase (decrease) in cash and cash equivalents and restricted cash 350,197 (155,812)
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 492,713 243,720
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:    
Cash paid for interest (net of capitalized interest of $11,545 and $23,211 in 2020 and 2019) 40,744 38,563
Accrued capital expenditures included in accounts payable and accrued expenses 51,092 99,876
Write-off of fully depreciated assets 29,393 49,319
Conversion of common limited partnership units to common shares 40,674 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 $ 4,603 $ 4,629