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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flow from operating activities:    
Net income $ 74,364 $ 38,168
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 101,385 92,777
Stock-based compensation 3,628 9,626
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 2,782 2,117
Equity in net income of joint ventures (1,550) (9,235)
Operating cash distributions from joint ventures 1,111 1,858
Gain on sale and change in control of interests (45,326) (13,908)
Gain on disposition of real estate, net (4,455) (198)
Impairment charges 2,536 7,270
Assumption of building due to ground lease termination (1,800) 0
Net change in accounts receivable 5,110 16,271
Net change in accounts payable and accrued expenses (1,659) (300)
Net change in other operating assets and liabilities (4,019) 310
Total adjustments 57,743 106,588
Net cash flow provided by operating activities 132,107 144,756
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (297,966) (31,473)
Real estate developed and improvements to operating real estate (57,092) (35,290)
Proceeds from disposition of joint venture interests 39,247 0
Proceeds from disposition of real estate 21,555 13,902
Equity contributions to joint ventures (117) (153)
Distributions from unconsolidated joint ventures 5,422 21,453
Net cash flow used for investing activities (288,951) (31,561)
Cash flow from financing activities:    
Proceeds from (repayment of) revolving credit facilities, net 125,000 (135,000)
Proceeds from unsecured term loan 100,000 0
Payment of debt issuance costs (7,582) 0
Repayment of mortgage debt (35,134) (19,152)
Proceeds from issuance of common shares, net of offering expenses 36,857 225,330
Redemption of preferred shares 0 (150,019)
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (5,469) (4,487)
Distributions to non-controlling interests and redeemable operating partnership units (35) (23)
Dividends paid (58,865) (43,106)
Net cash flow provided by (used for) financing activities 154,772 (126,457)
Effect of foreign exchange rate changes on cash and cash equivalents 0 (1)
Net decrease in cash, cash equivalents and restricted cash (2,072) (13,262)
Cash, cash equivalents and restricted cash, beginning of period 43,252 74,414
Cash, cash equivalents and restricted cash, end of period $ 41,180 $ 61,151