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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNITED DOMINION REALTY, L.P.)
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Operating Activities      
Net income/(loss) $ 199,579 $ 221,542 $ 132,655
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Depreciation and amortization 507,923 435,679 436,462
(Gain)/loss on sale of real estate owned (5,282) (136,197) (43,404)
(Income)/loss from unconsolidated entities (137,873) 5,055 (31,257)
Other 39,958 4,998 20,467
Changes in operating assets and liabilities:      
(Increase)/decrease in operating assets (10,956) (13,880) (9,008)
Increase/(decrease) in operating liabilities 7,846 24,987 (4,278)
Net cash provided by/(used in) operating activities 630,704 560,676 518,915
Investing Activities      
Acquisition of real estate assets (1,370,770)   (96,791)
Proceeds from sales of real estate investments, net 38,000 247,031 71,235
Capital expenditures and other major improvements - real estate assets (167,188) (112,359) (124,728)
Distributions received from unconsolidated entities 72,441 42,683 116,329
Net cash provided by/(used in) investing activities (1,686,687) (113,548) (407,406)
Financing Activities      
Proceeds from the issuance of secured debt 162,500 80,000  
Payments on secured debt (162,253) (279,243) (326,346)
Other (41,725) (41,485) (21,361)
Net cash provided by/(used in) financing activities 880,383 (260,067) (111,785)
Net increase/(decrease) in cash, cash equivalents, and restricted cash (175,600) 187,061 (276)
Cash, cash equivalents, and restricted cash, beginning of year 208,891 21,830 22,106
Cash, cash equivalents, and restricted cash, end of year 33,291 208,891 21,830
Supplemental Information:      
Interest paid during the period, net of amounts capitalized 169,558 132,466 126,348
Non-cash transactions:      
Development costs and capital expenditures incurred but not yet paid 16,635 10,304 43,930
Recognition of operating lease right-of-use assets 94,349    
Recognition of operating lease liabilities 88,336    
Right-of-use assets obtained in exchange for operating lease liabilities remeasurements 111,055    
Dividends declared but not yet paid 109,382 97,666 91,455
United Dominion Realty L.P.      
Operating Activities      
Net income/(loss) 103,995 231,485 107,855
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Depreciation and amortization 139,975 143,481 152,473
(Gain)/loss on sale of real estate owned   (75,507) (41,272)
(Income)/loss from unconsolidated entities 8,313 (43,496) 19,256
Other 3,534 1,771 5,642
Changes in operating assets and liabilities:      
(Increase)/decrease in operating assets 1,084 (3,260) (3,992)
Increase/(decrease) in operating liabilities (1,808) 1,194 (4,705)
Net cash provided by/(used in) operating activities 255,093 255,668 235,257
Investing Activities      
Acquisition of real estate assets     (137,332)
Proceeds from sales of real estate investments, net   98,533 67,985
Capital expenditures and other major improvements - real estate assets (62,397) (44,227) (53,346)
Distributions received from unconsolidated entities 18,491 17,377 16,704
Net cash provided by/(used in) investing activities (43,906) 71,683 (105,989)
Financing Activities      
Advances (to)/from the General Partner, net   (348,381) 163,196
Proceeds from the issuance of secured debt 72,500    
Payments on secured debt   (133,205) (275,345)
Issuance/(repayment) of notes payable to the General Partner (272,913) 169,577  
Distributions paid to partnership unitholders (10,064) (12,705) (11,694)
Other (376) (1,821) (5,003)
Net cash provided by/(used in) financing activities (210,853) (326,535) (128,846)
Net increase/(decrease) in cash, cash equivalents, and restricted cash 334 816 422
Cash, cash equivalents, and restricted cash, beginning of year 13,688 12,872 12,450
Cash, cash equivalents, and restricted cash, end of year 14,022 13,688 12,872
Supplemental Information:      
Interest paid during the period, net of amounts capitalized 38,400 17,173 24,331
Non-cash transactions:      
Development costs and capital expenditures incurred but not yet paid 2,913 2,056 2,032
Recognition of operating lease right-of-use assets 94,174    
Recognition of operating lease liabilities 88,161    
Right-of-use assets obtained in exchange for operating lease liabilities remeasurements 112,498    
LTIP Unit grants 27,066 15,839 7,763
Dividends declared but not yet paid $ 63,364 59,461 $ 57,025
Conversion of Advances (to)/from the General Partner to notes payable   $ 257,204