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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
OPERATING ACTIVITIES:      
Net income (loss) $ (89,725) $ (67,261) $ 74,144
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Share-based compensation expense 51,551 66,051 65,273
Depreciation and amortization, including amortization of deferred financing costs 240,454 225,597 195,795
Deferred rent (21,964) (20,084) (39,174)
Loss from unconsolidated real estate ventures, net 2,070 20,336 1,395
Amortization of market lease intangibles, net (1,189) (442) (791)
Amortization of lease incentives 7,973 6,603 6,336
Loss on extinguishment of debt   62 5,805
Impairment loss 25,144 10,232  
Gain on sale of real estate (11,290) (59,477) (104,991)
Loss on operating lease and other receivables 2,595 25,805 1,560
Income from investment funds, net (3,620)    
Return on capital from unconsolidated real estate ventures 15,912 4,302 2,690
Other non-cash items (922) 4,326 567
Impairment of corporate assets     10,170
Changes in operating assets and liabilities:      
Tenant and other receivables 8,812 (9,231) (8,382)
Other assets, net (12,780) (11,075) (9,177)
Accounts payable and accrued expenses 8,700 591 (7,678)
Other liabilities, net (4,099) (27,314) (19,556)
Net cash provided by operating activities 217,622 169,021 173,986
INVESTING ACTIVITIES:      
Development costs, construction in progress and real estate additions (173,177) (307,497) (441,014)
Acquisition of real estate (208,342) (45,688) (165,208)
Deposits for real estate and other acquisitions   (25,424) (850)
Proceeds from sale of real estate 14,370 154,493 377,511
Distributions of capital from unconsolidated real estate ventures 40,188 71,065 7,557
Investments in unconsolidated real estate ventures and other (41,780) (14,639) (18,668)
Net cash used in investing activities (368,741) (167,690) (240,672)
FINANCING ACTIVITIES:      
Borrowings under mortgages payable 190,000 580,105 2,200
Borrowings under revolving credit facility 300,000 500,000 200,000
Borrowings under unsecured term loans   100,000  
Repayments of mortgages payable (5,611) (104,083) (719,003)
Repayments of revolving credit facility   (700,000)  
Debt issuance costs (6,610) (14,856) (515)
Finance lease payments (19,970) (3,531) (137)
Proceeds from the issuance of common stock, net of issuance costs     472,780
Proceeds from common shares issued pursuant to ESPP 1,594 1,715 1,457
Common shares repurchased (157,686) (104,774)  
Dividends paid to common shareholders (118,115) (120,011) (129,834)
Distributions to redeemable noncontrolling interests (17,804) (15,030) (17,390)
Distributions to noncontrolling interests (46) (46) (95)
Contributions from noncontrolling interests 24,126   207
Net cash provided by (used in) financing activities 189,878 119,489 (190,330)
Net increase (decrease) in cash and cash equivalents and restricted cash 38,759 120,820 (257,016)
Cash and cash equivalents and restricted cash, beginning of period 263,336 142,516 399,532
Cash and cash equivalents and restricted cash, end of period 302,095 263,336 142,516
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:      
Cash paid for interest (net of capitalized interest of $6,734, $13,189 and $29,806 in 2021, 2020 and 2019) 61,928 56,961 49,437
Accrued capital expenditures included in accounts payable and accrued expenses 43,290 43,188 84,076
Write-off of fully depreciated assets 61,123 30,798 66,533
Cash (paid) received for income taxes (815) 1,187 282
Deconsolidation of real estate asset 26,476   181,813
Accrued dividends to common shareholders 28,665 29,650 30,184
Accrued distributions to redeemable noncontrolling interests 3,938 4,425 3,828
Conversion of common limited partnership units to common shares 29,634 47,517 57,318
Recognition (derecognition) of operating lease right-of-use assets (1,596) (13,151) 35,318
Recognition (derecognition) of liabilities related to operating lease right-of-use assets (1,587) (13,151) 37,922
Recognition of finance lease right-of-use assets 139,507 42,354  
Recognition of liabilities related to finance lease right-of-use assets 141,574 40,684  
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 2,295 5,201 $ 6,202
Deferred purchase price related to acquisition   $ 19,479