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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES    
Net income $ 9,156 $ 5,382
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,211 30,214
Stock-based compensation 1,948 1,617
Straight-line rent receivable (2,132) (2,858)
Straight-line rent liability 184 195
Impairments of real estate properties 0 3,328
Provision for bad debts, net (39) (208)
Changes in operating assets and liabilities:    
Other assets 76 (2,914)
Accounts payable and accrued liabilities (14,267) (18,989)
Other liabilities (2,550) 1,337
Net cash provided by operating activities 23,587 17,104
INVESTING ACTIVITIES    
Acquisitions of real estate (37,953) (37,139)
Development of real estate (7,995) (4,320)
Additional long-lived assets (10,835) (11,161)
Proceeds from mortgages and notes receivable repayments 5 5
Net cash used in investing activities (56,778) (52,615)
FINANCING ACTIVITIES    
Net borrowings (repayments) on unsecured credit facility (7,000) 57,000
Borrowings on notes and bonds payable 11,500  
Repayments on notes and bonds payable (11,317) (16,468)
Dividends paid (30,727) (29,832)
Net proceeds from issuance of common stock 70,181 31,910
Common stock redemptions (1,264) (201)
Debt issuance and assumption costs (110)  
Net cash provided by financing activities 31,263 42,409
Increase (decrease) in cash and cash equivalents (1,928) 6,898
Cash and cash equivalents, beginning of period 4,102 3,519
Cash and cash equivalents, end of period 2,174 10,417
Supplemental Cash Flow Information:    
Interest paid 15,151 25,313
Invoices accrued for construction, tenant improvement and other capitalized costs 16,177 $ 4,247
Capitalized interest $ 179