XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES:    
Net income (loss) $ 119,836 $ (26,391)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Share-based compensation expense 32,324 38,320
Depreciation and amortization, including amortization of deferred financing costs 160,797 181,217
Deferred rent (14,764) (17,463)
(Income) loss from unconsolidated real estate ventures, net 12,829 (23,513)
Amortization of market lease intangibles, net (874) (896)
Amortization of lease incentives 6,175 6,083
Loss on the extinguishment of debt 3,073  
Gain on the sale of real estate, net (158,631) (11,290)
Loss on operating lease and other receivables 1,392 1,071
Income from investments, net (14,733)  
Return on capital from unconsolidated real estate ventures 8,483 13,212
Other non-cash items (7,352) 583
Changes in operating assets and liabilities:    
Tenant and other receivables (5,044) 3,704
Other assets, net (20,552) (12,059)
Accounts payable and accrued expenses (3,648) 5,954
Other liabilities, net 11,055 (4,120)
Net cash provided by operating activities 130,366 154,412
INVESTING ACTIVITIES:    
Development costs, construction in progress and real estate additions (218,835) (108,361)
Acquisition of real estate (15,232)  
Deposits for real estate and other acquisitions (1,750) (10,263)
Proceeds from the sale of real estate 923,108 14,370
Proceeds from the sale of investments 19,030  
Distributions of capital from unconsolidated real estate ventures 54,759 40,188
Investments in unconsolidated real estate ventures and other investments (86,678) (32,685)
Net cash provided by (used in) investing activities 674,402 (96,751)
FINANCING ACTIVITIES:    
Borrowings under mortgages payable 134,263 85,000
Borrowings under revolving credit facility 100,000  
Borrowings under unsecured term loans 150,000  
Repayments of mortgages payable (268,627) (4,462)
Repayments of revolving credit facility (300,000)  
Debt issuance and modification costs (5,135) (5,747)
Proceeds from common shares issued pursuant to ESPP 800 880
Common shares repurchased (361,042) (82,300)
Dividends paid to common shareholders (82,072) (88,928)
Distributions to redeemable noncontrolling interests (12,398) (13,705)
Distributions to noncontrolling interests (166) (22)
Contributions from noncontrolling interests 9,383 17,464
Net cash used in financing activities (634,994) (91,820)
Net increase (decrease) in cash and cash equivalents, and restricted cash 169,774 (34,159)
Cash and cash equivalents, and restricted cash, beginning of period 302,095 263,336
Cash and cash equivalents, and restricted cash, end of period 471,869 229,177
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:    
Cash paid for interest (net of capitalized interest of $6,816 and $4,854 in 2022 and 2021) 52,620 46,010
Accrued capital expenditures included in accounts payable and accrued expenses 74,735 41,660
Write-off of fully depreciated assets 10,642 46,278
Deconsolidation of real estate asset   26,476
Conversion of OP Units to common shares 12,667 27,350
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 1,638 $ 1,761