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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flow from operating activities:    
Net income $ 214,693 $ 20,655
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 83,589 112,714
Stock-based compensation 4,288 3,635
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 11,502 2,206
Gain on debt retirement (1,037) 0
Other income-unrealized loss on derivatives 5,166 0
Equity in net income of joint ventures (78) (5,977)
Operating cash distributions from joint ventures 0 258
Gain on sale and change in control of interests (2,669) (3,749)
Gain on disposition of real estate, net (265,030) (183)
Impairment charges 66,600 0
Assumption of buildings due to ground lease terminations (2,678) 0
Net change in accounts receivable 7,457 3,250
Net change in accounts payable and accrued expenses (2,931) (1,623)
Net change in other operating assets and liabilities (12,429) (4,389)
Total adjustments (108,250) 106,142
Net cash flow provided by operating activities 106,443 126,797
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (82,147) (74,783)
Real estate developed and improvements to operating real estate (39,423) (51,278)
Proceeds from sale of joint venture interests 0 3,405
Proceeds from disposition of real estate 846,963 0
Equity contributions to joint ventures (916) (86)
Repayment of joint venture advances 730 318
Distributions from unconsolidated joint ventures 800 9,468
Net cash flow provided by (used for) investing activities 726,007 (112,956)
Cash flow from financing activities:    
Proceeds from revolving credit facility, net 0 175,000
Payment of loan commitment fees (6,632) 0
Repayment of senior notes (87,101) (87,209)
Repayment of mortgage debt (25,651) (625)
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (2,656) (4,844)
Repurchase of common shares 0 (26,611)
Repurchase of operating units 0 (1,735)
Distributions to redeemable operating partnership units 0 (37)
Dividends paid (93,863) (60,401)
Net cash flow used for financing activities (215,903) (6,462)
Net increase in cash, cash equivalents and restricted cash 616,547 7,379
Cash, cash equivalents and restricted cash, beginning of period 569,031 21,214
Cash, cash equivalents and restricted cash, end of period $ 1,185,578 $ 28,593