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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flow from operating activities:    
Net income (loss) $ 53,632 $ (56,530)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:    
Depreciation and amortization 82,668 146,886
Stock-based compensation 5,792 4,722
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 1,873 14,235
Loss on extinguishment of debt 0 49,016
Equity in net income of joint ventures (2,834) (12,607)
Reserve of preferred equity interests, net 5,733 2,336
Operating cash distributions from joint ventures 4,510 3,768
Gain on disposition of real estate, net (16,590) (39,519)
Impairment charges 620 48,504
Cash paid for interest rate hedging activities 0 (4,538)
Assumption of building due to ground lease termination 0 (2,150)
Change in notes receivable accrued interest 251 968
Net change in accounts receivable 833 (1,747)
Net change in accounts payable and accrued expenses (7,309) 13,805
Net change in other operating assets and liabilities (8,970) (5,394)
Total adjustments 66,577 218,285
Net cash flow provided by operating activities 120,209 161,755
Cash flow from investing activities:    
Real estate developed and improvements to operating real estate (44,348) (68,108)
Proceeds from disposition of real estate 71,145 301,545
Hurricane property insurance advance proceeds 0 20,193
Equity contributions to joint ventures (46,983) (108)
Distributions from unconsolidated joint ventures 14,552 25,141
Repayment of joint venture advances 14,066 46,400
Net cash flow provided by investing activities 8,432 325,063
Cash flow from financing activities:    
(Repayment of) proceeds from revolving credit facilities, net (25,000) 45,000
Repayment of senior notes 0 (924,751)
Repayment of term loan and mortgage debt (1,093) (758,937)
Payment of debt issuance costs 0 (32,825)
Proceeds from mortgage payable 0 1,350,000
(Repurchase) issuance of common shares in conjunction with equity award plans and dividend reinvestment plan (685) 5,148
Repurchase of common shares (14,069) 0
Redemption of operating partnership units 0 (736)
Distributions to non-controlling interests and redeemable operating partnership units (380) (406)
Dividends paid (89,898) (157,236)
Net cash flow used for financing activities (131,125) (474,743)
Effect of foreign exchange rate changes on cash and cash equivalents (1) (2)
Net (decrease) increase in cash, cash equivalents and restricted cash (2,484) 12,075
Cash, cash equivalents and restricted cash, beginning of period 13,650 94,724
Cash, cash equivalents and restricted cash, end of period $ 11,165 $ 106,797