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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Summary Of Significant Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue Streams of Rental Income and Percentage of Rental Income

The following table presents the disaggregation of revenue streams of our rental income for the six months and quarter ended June 30, 2018 (amounts in thousands):

 

 

 

 

Six Months Ended June 30, 2018

 

 

Quarter Ended June 30, 2018

 

Revenue Stream

 

Applicable Standard

 

Amount of

Rental Income

 

 

Percentage of

Rental Income

 

 

Amount of

Rental Income

 

 

Percentage of

Rental Income

 

Leasing revenue

 

Leases

 

$

1,192,789

 

 

 

93.8

%

 

$

599,976

 

 

 

93.8

%

Utility recoveries (“RUBS”)

 

Revenue Recognition

 

 

30,935

 

 

 

2.4

%

 

 

15,560

 

 

 

2.4

%

Parking revenue

 

Revenue Recognition

 

 

14,064

 

 

 

1.1

%

 

 

6,267

 

 

 

1.0

%

Other revenue

 

Revenue Recognition

 

 

34,663

 

 

 

2.7

%

 

 

17,817

 

 

 

2.8

%

Rental income

 

 

 

$

1,272,451

 

 

 

100.0

%

 

$

639,620

 

 

 

100.0

%

 
Schedule of Material Changes Between Cash Flow Classifications due to Substantial Debt Prepayment Penalties

While overall cash flows did not change, there are changes between cash flow classifications due primarily to the debt prepayment penalties that the Company has incurred in the comparative period.  As of June 30, 2017, the following cash flows were reclassified (amounts in thousands):

 

 

Six Months Ended June 30, 2017

 

 

 

As Originally

Presented

 

 

Reclassification

Adjustments

 

 

As Presented

Herein

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of discounts and premiums on debt

 

$

3,359

 

 

$

(1,968

)

 

$

1,391

 

Net (gain) loss on debt extinguishment

 

$

—

 

 

$

12,258

 

 

$

12,258

 

(Increase) decrease in deposits - restricted

 

$

310

 

 

$

(310

)

 

$

—

 

(Increase) decrease in mortgage deposits

 

$

900

 

 

$

(900

)

 

$

—

 

Net cash provided by operating activities

 

$

550,033

 

 

$

9,080

 

 

$

559,113

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flows from Investing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

(Increase) decrease in deposits on real estate acquisitions

    and investments, net

 

$

(177,742

)

 

$

177,742

 

 

$

—

 

(Increase) decrease in mortgage deposits

 

$

(4,108

)

 

$

4,108

 

 

$

—

 

Net cash provided by (used for) investing activities

 

$

(226,457

)

 

$

181,850

 

 

$

(44,607

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flows from Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage deposits

 

$

47,127

 

 

$

(47,127

)

 

$

—

 

Mortgage notes payable, net: Net gain (loss) on debt extinguishment

 

$

—

 

 

$

(12,258

)

 

$

(12,258

)

Line of credit and commercial paper: Commercial paper proceeds

 

$

2,608,895

 

 

$

1,968

 

 

$

2,610,863

 

Net cash (used for) financing activities

 

$

(363,064

)

 

$

(57,417

)

 

$

(420,481

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents, beginning of period

 

$

77,207

 

 

 

 

 

 

 

 

 

(adjustments for restricted deposits, beginning of period)

 

 

 

 

 

$

141,881

 

 

 

 

 

Cash and cash equivalents and restricted deposits, beginning of period

 

 

 

 

 

 

 

 

 

$

219,088

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents, end of period

 

$

37,719

 

 

 

 

 

 

 

 

 

(adjustments for restricted deposits, end of period)

 

 

 

 

 

$

275,394

 

 

 

 

 

Cash and cash equivalents and restricted deposits, end of period

 

 

 

 

 

 

 

 

 

$

313,113