Supplemental Disclosures of Cash Flow Information

9 Months Ended

Sep. 30, 2016

Supplemental Disclosures of Cash Flow Information

Supplemental Disclosures of Cash Flow Information

16.Supplemental Disclosures of Cash Flow Information

Cash paid for interest was $190.8 million in the first nine months of 2016 and $201.4 million in the first nine months of 2015.

Interest capitalized to properties under development was $344,000 in the first nine months of 2016 and $463,000 the first nine months of 2015.

Cash paid for income taxes was $3.6 million in the first nine months of 2016 and $3.1 million in the first nine months of 2015.

The following non-cash activities are included in the accompanying consolidated financial statements:

A.During the first nine months of 2016, we assumed mortgages payable to third-party lenders of $32.5 million, and recorded $692,000 of net premiums. There were no assumed mortgages payable for the first nine months of 2015.

B.Accrued costs on properties under development resulted in an increase in buildings and improvements and accounts payable of $1.5 million at September 30, 2016.