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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 279,295 $ 258,366
Adjustments to net income:    
Depreciation and amortization 402,069 371,755
Amortization of share-based compensation 12,527 10,641
Non-cash revenue adjustments (5,781) (2,783)
Amortization of net premiums on mortgages payable (1,167) (1,580)
Amortization of deferred financing costs 5,337 6,819
Gain on interest rate swaps (3,064) (1,228)
Gain on sales of real estate (18,818) (17,689)
Provisions for impairment on real estate 25,034 8,072
Change in assets and liabilities    
Accounts receivable and other assets (1,540) (892)
Accounts payable, accrued expenses and other liabilities (4,050) 10,067
Net cash provided by operating activities 689,842 641,548
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (1,437,377) (964,719)
Improvements to real estate, including leasing costs (22,432) (11,834)
Proceeds from sales of real estate 83,024 69,486
Insurance proceeds received 7,121 12,746
Collection of loans receivable 5,267 92
Non-refundable escrow deposits for pending acquisitions (3,275) 0
Net cash used in investing activities (1,367,672) (894,229)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (564,747) (509,987)
Cash dividends to preferred stockholders 0 (6,168)
Borrowings on line of credit 1,670,000 1,189,000
Payments on line of credit (1,006,000) (1,651,000)
Principal payment on term loan (125,866) 0
Proceeds from notes and bonds payable issued 497,500 711,812
Principal payment on notes payable (350,000) (175,000)
Principal payments on mortgages payable (14,608) (123,524)
Redemption of preferred stock 0 (408,750)
Proceeds from common stock offerings, net 0 704,938
Proceeds from dividend reinvestment and stock purchase plan 6,966 67,813
Proceeds from At-the-Market (ATM) program 588,860 487,998
Distributions to noncontrolling interests (1,391) (1,652)
Debt issuance costs (4,436) (6,663)
Other items, including shares withheld upon vesting (14,862) (11,455)
Net cash provided by financing activities 681,416 267,362
Net increase in cash, cash equivalents and restricted cash 3,586 14,681
Cash, cash equivalents and restricted cash, beginning of period 12,142 15,681
Cash, cash equivalents and restricted cash, end of period $ 15,728 $ 30,362