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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flow from operating activities:    
Net (loss) income $ (23,552) $ 15,302
Adjustments to reconcile net (loss) income to net cash flow provided by operating activities:    
Depreciation and amortization 43,150 54,016
Stock-based compensation 2,031 1,760
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 1,819 1,111
Gain on debt retirement (760) 0
Other income-unrealized loss on derivatives 4,096 0
Equity in net income of joint ventures (17) (1,359)
Gain on sale and change in control of interests 0 (3,749)
Gain on disposition of real estate, net (31,714) (205)
Impairment charges 66,600 0
Assumption of building due to ground lease termination (1,952) 0
Net change in accounts receivable 7,790 4,819
Net change in accounts payable and accrued expenses (15,643) (16,205)
Net change in other operating assets and liabilities (11,896) (13,323)
Total adjustments 63,504 26,865
Net cash flow provided by operating activities 39,952 42,167
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (18,065) (26,503)
Real estate developed and improvements to operating real estate (19,813) (27,990)
Proceeds from sale of joint venture interests 0 3,405
Proceeds from disposition of real estate 115,329 0
Equity contributions to joint ventures (44) (56)
Repayment of joint venture advances 730 318
Net cash flow provided by (used for) investing activities 78,137 (50,826)
Cash flow from financing activities:    
Proceeds from revolving credit facility, net 0 75,000
Payment of loan commitment fees (3,183) 0
Repayment of senior notes (60,758) 0
Repayment of mortgage debt (134) (314)
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (2,594) (4,800)
Repurchase of common shares 0 (26,611)
Distributions to redeemable operating partnership units 0 (18)
Dividends paid (63,733) (30,353)
Net cash flow (used for) provided by financing activities (130,402) 12,904
Net (decrease) increase in cash, cash equivalents and restricted cash (12,313) 4,245
Cash, cash equivalents and restricted cash, beginning of period 569,031 21,214
Cash, cash equivalents and restricted cash, end of period $ 556,718 $ 25,459