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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net (loss) income $ (2,614) $ 13,655
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 38,708 39,847
Amortization of deferred financing fees 685 718
Income tax provision 50 71
Earnings from unconsolidated joint ventures (1,058) (80)
Distributions received from operations of unconsolidated joint ventures 2,600 154
Loss on extinguishment of debt 0 622
Gain on sale of real estate 0 (6,073)
Insured expenses, net (1,653) 0
Amortization of acquired above and below market lease intangibles, net (1,733) (3,372)
Amortization of premium on mortgages, net (454) (484)
Service-based restricted share expense 1,816 1,979
Long-term incentive cash and equity compensation expense 1,026 807
Changes in assets and liabilities, net of effect of acquisitions and dispositions:    
Accounts receivable, net (10,642) 1,781
Other assets, net (734) (3,139)
Accounts payable and other liabilities (12,626) (9,175)
Net cash provided by operating activities 13,371 37,311
INVESTING ACTIVITIES    
Development and capital improvements (8,603) (28,956)
Capital improvements covered by insurance (3,868) 0
Net proceeds from sales of real estate 0 67,863
Insurance proceeds from insured expenses 1,750 0
Investment in equity interests in unconsolidated joint ventures (11) 0
Net cash (used in) provided by investing activities (10,732) 38,907
FINANCING ACTIVITIES    
Repayment of mortgages and notes payable (1,126) (29,417)
Proceeds on revolving credit facility 225,000 0
Repayments on revolving credit facility (50,000) 0
Payment of deferred financing costs (567) 0
Proceeds from issuance of common shares, net of costs (385) (94)
Shares used for employee taxes upon vesting of awards (928) (580)
Dividends paid to preferred shareholders (3,350) (3,350)
Dividends paid to common shareholders (35,336) (35,312)
Distributions paid to operating partnership unit holders (840) (841)
Net cash provided by (used in) financing activities 132,468 (69,594)
Net change in cash, cash equivalents and restricted cash 135,107 6,624
Cash, cash equivalents and restricted cash at beginning of period 114,552 44,722
Cash, cash equivalents and restricted cash at end of period 249,659 51,346
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest (net of capitalized interest of $2 and $60 in 2020 and 2019, respectively) 19,151 20,599
Reconciliation of cash, cash equivalents and restricted cash    
Cash, cash equivalents, and restricted cash $ 249,659 $ 51,346