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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,971 $ 73,875
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on disposition of properties 0 (65,393)
Depreciation and amortization 24,536 16,849
Distributions of operating income from unconsolidated affiliates 1,299 1,082
Equity in earnings and gains of unconsolidated affiliates (12,703) (1,954)
Stock compensation expense 4,235 4,019
Amortization of financing costs 1,169 625
Other, net (2,908) (2,031)
Changes in assets and liabilities:    
Other liabilities 1,076 (8,849)
Prepaid expenses and other assets (5,736) 881
Rents receivable, net (6,723) (3,596)
Restricted cash (1,010) 3,259
Accounts payable and accrued expenses 273 (792)
Net cash provided by operating activities 23,479 17,975
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of real estate (34,688) (12,287)
Development and property improvement costs (27,015) (37,463)
Issuance of or advances on notes receivable (150) (27,800)
Proceeds from the disposition of properties 0 104,458
Investments in and advances to unconsolidated affiliates (3,174) (8,034)
Return of capital from unconsolidated affiliates 2,677 34,235
Proceeds from notes receivable 0 20,500
Proceeds from disposition of properties of unconsolidated affiliates 25,080 0
Payment of deferred leasing costs (2,033) (847)
Net cash (used in) provided by investing activities (39,303) 72,762
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgage and other notes (5,236) (99,501)
Principal payments on unsecured debt (94,100) (101,500)
Proceeds received on mortgage and other notes 93,044 1,945
Proceeds from unsecured debt 20,000 134,616
Proceeds from issuance of Common Shares, net of issuance costs of $0 and $1,654 respectively 0 32,026
Capital contributions from noncontrolling interests 20,264 46,343
Distributions to noncontrolling interests (6,163) (56,995)
Dividends paid to Common Shareholders (34,275) (35,112)
Deferred financing and other costs (1,701) (475)
Loan proceeds held as restricted cash (107) 0
Net cash used in financing activities (8,274) (78,653)
(Decrease) increase in cash and cash equivalents (24,098) 12,084
Cash and cash equivalents, beginning of the period 71,805 72,776
Cash and cash equivalents, end of the period 47,707 84,860
Supplemental disclosure of cash flow information    
Cash paid during the period for interest, net of capitalized interest of $5,009 and $5,115, respectively 9,629 8,437
Cash paid for income taxes, net of (refunds) 220 (256)
Supplemental disclosure of non-cash investing activities    
Acquisition of real estate through assumption of debt 0 1,463
Acquisition of real estate through issuance of OP Units 0 29,336
Acquisition of capital lease obligation 0 76,461
Assumption of accounts payable and accrued expenses through acquisition of real estate $ (662) $ 0