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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flow from operating activities:    
Net income $ 37,628 $ 77,533
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 125,014 123,400
Stock-based compensation 5,670 9,582
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 3,581 3,055
Loss on debt extinguishment 16,568 0
Equity in net income of joint ventures (908) (5,446)
Reserve of preferred equity interests, net 19,393 12,106
Operating cash distributions from joint ventures 2,825 7,693
Gain on sale of joint venture interest (45,635) 0
Gain on disposition of real estate, net (993) (31,087)
Impairment charges 0 3,370
Assumption of buildings due to ground lease terminations (3,025) 0
Change in notes receivable accrued interest (2,891) 206
Net change in accounts receivable (18,500) 4,233
Net change in accounts payable and accrued expenses (4,567) (7,124)
Net change in other operating assets and liabilities (8,226) (8,101)
Total adjustments 88,306 111,887
Net cash flow provided by operating activities 125,934 189,420
Cash flow from investing activities:    
Real estate developed and improvements to operating real estate (50,987) (80,197)
Proceeds from disposition of real estate 1,227 107,101
Proceeds from sale of joint venture interest 140,441 0
Equity contributions to joint ventures (206) (47,020)
Distributions from joint ventures 4,395 15,329
Repayment of joint venture advances, net 0 17,418
Repayment of notes receivable 7,500 0
Net transactions with RVI 0 17,000
Net cash flow provided by investing activities 102,370 29,631
Cash flow from financing activities:    
Proceeds from (repayment of) revolving credit facilities, net 170,000 (100,000)
Repayment of senior notes, including repayment costs (216,568) 0
Repayment of mortgage debt (41,230) (1,669)
Payment of debt issuance costs 0 (5,006)
Proceeds from term loan 0 50,000
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (955) (708)
Repurchase of common shares (7,500) (14,069)
Distributions to non-controlling interests and redeemable operating partnership units (473) (685)
Dividends paid (93,215) (134,539)
Net cash flow used for financing activities (189,941) (206,676)
Effect of foreign exchange rate changes on cash and cash equivalents 17 (2)
Net increase in cash, cash equivalents and restricted cash 38,363 12,375
Cash, cash equivalents and restricted cash, beginning of period 19,133 13,650
Cash, cash equivalents and restricted cash, end of period $ 57,513 $ 26,023