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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flow from operating activities:    
Net income $ 66,325 $ 37,628
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 137,446 125,014
Stock-based compensation 11,698 5,670
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 3,210 3,581
Loss on debt extinguishment 0 16,568
Equity in net income of joint ventures (11,059) (908)
Reserve of preferred equity interests, net 0 19,393
Operating cash distributions from joint ventures 2,840 2,825
Gain on sale of joint venture interests (13,943) (45,635)
Gain on disposition of real estate, net (6,069) (993)
Impairment charges 7,270 0
Assumption of buildings due to ground lease terminations 0 (3,025)
Change in notes receivable accrued interest 0 (2,891)
Net change in accounts receivable 18,391 (18,500)
Net change in accounts payable and accrued expenses 5,143 (4,567)
Net change in other operating assets and liabilities (3,888) (8,226)
Total adjustments 151,039 88,306
Net cash flow provided by operating activities 217,364 125,934
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (62,610) 0
Real estate developed and improvements to operating real estate (55,677) (50,987)
Proceeds from disposition of real estate 29,793 1,227
Proceeds from sale of joint venture interests 16,067 140,441
Equity contributions to joint ventures (247) (206)
Distributions from joint ventures 7,014 4,395
Repayment of notes receivable 0 7,500
Net cash flow (used for) provided by investing activities (64,731) 102,370
Repayment of joint venture advances, net 929 0
Cash flow from financing activities:    
(Repayment of) proceeds from revolving credit facilities, net (135,000) 170,000
Repayment of senior notes, including repayment costs 0 (216,568)
Repayment of mortgage debt (25,613) (41,230)
Proceeds from issuance of common shares, net of offering expenses 225,166 0
Redemption of preferred shares (150,019) 0
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (4,878) (955)
Repurchase of common shares 0 (7,500)
Distributions to non-controlling interests and redeemable operating partnership units (39) (473)
Dividends paid (71,325) (93,215)
Net cash flow used for financing activities (161,708) (189,941)
Effect of foreign exchange rate changes on cash and cash equivalents (1) 17
Net (decrease) increase in cash, cash equivalents and restricted cash (9,075) 38,363
Cash, cash equivalents and restricted cash, beginning of period 74,414 19,133
Cash, cash equivalents and restricted cash, end of period $ 65,338 $ 57,513