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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES      
Net income $ 366,145 $ 245,924 $ 224,471
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 207,673 229,779 236,075
Amortization of deferred financing costs 3,974 4,395 4,811
Impairment - real estate assets 3,879 18,244 117
Loss on debt extinguishment 27,099 0 0
Equity in earnings of unconsolidated joint ventures (21,970) (3,149) (10,314)
Distributions from unconsolidated joint ventures 0 2,444 0
Gain on property dispositions (219,270) (100,314) (91,778)
Share-based compensation 14,478 12,919 12,457
Other (6,128) (9,937) (7,935)
Changes in operating assets and liabilities:      
Restricted cash 4,352 10,478 30,286
Accounts receivable 421 1,009 (1,770)
Deferred rent receivable (16,927) (23,167) (15,263)
Prepaid expenses and other assets (16,766) (14,540) (28,360)
Accounts payable 8,943 1,822 5,299
Accrued interest (4,276) 1,641 (1,264)
Other liabilities (18,606) 7,818 (20,348)
Net cash provided by operating activities 333,021 385,366 336,484
INVESTING ACTIVITIES      
Investment in properties – acquisitions (9,216) (111,811) (124,962)
Investment in properties – other (54,249) (77,626) (102,466)
Investments in and advances to unconsolidated joint ventures (70,581) (43,676) (22,243)
Distributions from unconsolidated joint ventures 63,048 33,195 15,330
Net proceeds from disposition of properties/land 1,192,918 530,440 559,322
Investment in development in progress (342,489) (210,677) (288,375)
Investment in land held for development (110,082) (150,523) (105,324)
Payment of deferred leasing costs (32,682) (48,672) (40,123)
Other (23,265) (10,310) 2,504
Net cash provided by (used in) investing activities 613,402 (89,660) (106,337)
FINANCING ACTIVITIES      
Net proceeds from issuance of common shares 13,029 38,797 58,473
Share repurchase (40,896) (71,802) 0
Proceeds from unsecured notes 396,648 398,576 0
Repayments of unsecured notes including prepayment premium (723,368) (316,000) (200,000)
Repayments of mortgage loans (29,538) (175,364) (56,156)
Proceeds from credit facility 591,300 1,122,700 517,550
Repayments on credit facility (850,300) (1,030,700) (350,550)
Payment of deferred financing costs (3,550) (3,656) (3,629)
Distribution paid on common shares (279,248) (282,582) (280,136)
Distribution paid on units/noncontrolling interests (8,212) (7,596) (7,453)
Net cash used in financing activities (934,135) (327,627) (321,901)
Net (decrease) increase in cash and cash equivalents 12,288 (31,921) (91,754)
Decrease in cash and cash equivalents related to foreign currency translation (3,999) (2,072) (2,314)
Cash and cash equivalents at beginning of year 35,353 69,346 163,414
Cash and cash equivalents at end of year 43,642 35,353 69,346
Liberty Property Limited Partnership [Member]      
OPERATING ACTIVITIES      
Net income 366,145 245,924 224,471
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 207,673 229,779 236,075
Amortization of deferred financing costs 3,974 4,395 4,811
Impairment - real estate assets 3,879 18,244 117
Loss on debt extinguishment 27,099 0 0
Equity in earnings of unconsolidated joint ventures (21,970) (3,149) (10,314)
Distributions from unconsolidated joint ventures 0 2,444 0
Gain on property dispositions (219,270) (100,314) (91,778)
Share-based compensation 14,478 12,919 12,457
Other (6,128) (9,937) (7,935)
Changes in operating assets and liabilities:      
Restricted cash 4,352 10,478 30,286
Accounts receivable 421 1,009 (1,770)
Deferred rent receivable (16,927) (23,167) (15,263)
Prepaid expenses and other assets (16,766) (14,540) (28,360)
Accounts payable 8,943 1,822 5,299
Accrued interest (4,276) 1,641 (1,264)
Other liabilities (18,606) 7,818 (20,348)
Net cash provided by operating activities 333,021 385,366 336,484
INVESTING ACTIVITIES      
Investment in properties – acquisitions (9,216) (111,811) (124,962)
Investment in properties – other (54,249) (77,626) (102,466)
Investments in and advances to unconsolidated joint ventures (70,581) (43,676) (22,243)
Distributions from unconsolidated joint ventures 63,048 33,195 15,330
Net proceeds from disposition of properties/land 1,192,918 530,440 559,322
Investment in development in progress (342,489) (210,677) (288,375)
Investment in land held for development (110,082) (150,523) (105,324)
Payment of deferred leasing costs (32,682) (48,672) (40,123)
Other (23,265) (10,310) 2,504
Net cash provided by (used in) investing activities 613,402 (89,660) (106,337)
FINANCING ACTIVITIES      
Proceeds from unsecured notes 396,648 398,576 0
Repayments of unsecured notes including prepayment premium (723,368) (316,000) (200,000)
Repayments of mortgage loans (29,538) (175,364) (56,156)
Proceeds from credit facility 591,300 1,122,700 517,550
Repayments on credit facility (850,300) (1,030,700) (350,550)
Payment of deferred financing costs (3,550) (3,656) (3,629)
Capital contributions 13,029 38,797 58,473
Distributions to partners/noncontrolling interest holders (328,356) (361,980) (287,589)
Net cash used in financing activities (934,135) (327,627) (321,901)
Net (decrease) increase in cash and cash equivalents 12,288 (31,921) (91,754)
Decrease in cash and cash equivalents related to foreign currency translation (3,999) (2,072) (2,314)
Cash and cash equivalents at beginning of year 35,353 69,346 163,414
Cash and cash equivalents at end of year $ 43,642 $ 35,353 $ 69,346