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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES:    
Net loss $ (106,913) $ (54,045)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Share-based compensation expense 26,158 27,011
Depreciation and amortization expense, including amortization of deferred financing costs 163,190 156,841
Deferred rent (14,140) (20,594)
(Income) loss from unconsolidated real estate ventures, net (4) 1,320
Amortization of market lease intangibles, net 175 (767)
Amortization of lease incentives 4,197 1,812
(Gain) loss on the extinguishment of debt (43) 450
Impairment loss 18,236 59,307
(Gain) loss on the sale of real estate, net 5,066 (41,606)
Loss (income) on operating lease and other receivables 2,053 (67)
Income from investments, net (3,278) (1,163)
Return on capital from unconsolidated real estate ventures 1,680 12,633
Other non-cash items 4,626 8,586
Changes in operating assets and liabilities:    
Tenant and other receivables 11,466 12,223
Other assets, net (13,337) (22,305)
Accounts payable and accrued expenses (9,446) (18,129)
Other liabilities, net (2,496) (6,614)
Net cash provided by operating activities 87,190 114,893
INVESTING ACTIVITIES:    
Development costs, construction in progress and real estate additions (172,051) (241,336)
Acquisition of real estate   (19,551)
Proceeds from the sale of real estate 97,010 162,092
Proceeds from derivative financial instruments 5,073 465
Payments on derivative financial instruments (6,468) (9,830)
Distributions of capital from unconsolidated real estate ventures and other investments 163,880 9,264
Investments in unconsolidated real estate ventures and other investments (5,027) (24,344)
Net cash provided by (used in) investing activities 82,417 (123,240)
FINANCING ACTIVITIES:    
Borrowings under mortgage loans 112,612 287,582
Borrowings under revolving credit facility 223,000 247,000
Borrowings under term loans   170,000
Repayments of mortgage loans (85,662) (280,135)
Repayments of revolving credit facility (195,000) (155,000)
Proceeds from derivative financial instruments   9,600
Payments on derivative financial instruments (4,422) (465)
Debt issuance and modification costs (359) (17,579)
Acquisition/redemption of noncontrolling interests (26,569) (647)
Proceeds from common shares issued pursuant to ESPP 792 665
Common shares repurchased (168,371) (273,851)
Dividends paid to common shareholders (47,186) (72,483)
Distributions to redeemable noncontrolling interests (8,714) (11,619)
Distributions to noncontrolling interests (25) (15)
Net cash used in financing activities (199,904) (96,947)
Net decrease in cash and cash equivalents, and restricted cash (30,297) (105,294)
Cash and cash equivalents, and restricted cash, beginning of period 200,441 274,073
Cash and cash equivalents, and restricted cash, end of period 170,144 168,779
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:    
Cash paid for interest (net of capitalized interest of $8,477 and $11,013 in 2024 and 2023) 84,195 65,416
Accrued capital expenditures included in accounts payable and accrued expenses 46,182 80,946
Write-off of fully depreciated assets 28,617 3,489
Redemption of OP Units for common shares 13,769 33,110
Recognition (derecognition) of operating lease right-of-use asset (13,724) 61,443
Recognition (derecognition) of liabilities related to operating lease right-of-use asset (13,724) 61,443
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 7,980 $ 3,567