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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
OPERATING ACTIVITIES      
Net income $ 42,227 $ 24,022  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 54,041 50,079  
Other amortization 1,192 822  
Share-based compensation 3,699 3,019  
Amortization of straight-line rent receivable (lessor) (1,587) (1,461)  
Amortization of straight-line rent on operating leases (lessee) 378 367  
Gain on sales of real estate properties (44,784) (18,890)  
Loss on extinguishment of debt 1,429 0  
Impairment of real estate properties (25) 834  
Equity loss from unconsolidated joint ventures 345 74  
Non-cash interest from financing receivable (199)    
Changes in operating assets and liabilities:      
Other assets, including right-of-use-assets (2,563) (3,467)  
Accounts payable and accrued liabilities (12,212) (17,181)  
Other liabilities 1,830 4,278  
Net cash provided by operating activities 43,771 42,496  
INVESTING ACTIVITIES      
Acquisitions of real estate (121,964) (64,275)  
Development of real estate (3,754) (184)  
Additional long-lived assets (23,326) (19,937)  
Investments in unconsolidated joint ventures (49,598) (10,880)  
Investment in financing receivable 492 0  
Proceeds from sales of real estate properties 84,883 25,445  
Net cash used in investing activities (113,267) (69,831)  
FINANCING ACTIVITIES      
Net borrowings on unsecured credit facility 124,000 7,000  
Repayments of notes and bonds payable (17,573) (946)  
Redemption of notes and bonds payable (2,184) 0  
Dividends paid (46,768) (42,782)  
Net proceeds from issuance of common stock 22,649 63,195  
Common stock redemptions (852) (1,959)  
Debt issuance and assumption costs   (27)  
Payments made on finance leases (257) (362)  
Net cash provided by financing activities 79,015 24,119  
Increase (decrease) in cash and cash equivalents 9,519 (3,216)  
Cash and cash equivalents at beginning of period 13,175 15,303 $ 15,303
Cash and cash equivalents at end of period 22,694 12,087 $ 13,175
Supplemental Cash Flow Information      
Interest paid 16,227 15,779  
Invoices accrued for construction, tenant improvements and other capitalized costs 13,516 17,805  
Capitalized interest $ 38 $ 118