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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
OPERATING ACTIVITIES      
Net income $ 290,045 $ 366,145 $ 245,924
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 183,887 207,673 229,779
Amortization of deferred financing costs 3,750 3,974 4,395
Expensed pursuit costs 5,066 1,016 605
Impairment - real estate assets 10,632 3,879 18,244
Loss on debt extinguishment 49 27,099 0
Equity in earnings of unconsolidated joint ventures (17,155) (21,970) (3,149)
Distributions from unconsolidated joint ventures 0 0 2,444
Gain on property dispositions (114,965) (219,270) (100,314)
Share-based compensation 14,119 19,850 17,152
Other 824 (6,128) (9,937)
Changes in operating assets and liabilities:      
Accounts receivable 3,512 421 1,009
Deferred rent receivable (19,605) (16,927) (23,167)
Prepaid expenses and other assets (33,663) (32,442) (15,145)
Accounts payable 10,151 8,943 1,822
Accrued interest (82) (4,276) 1,641
Other liabilities 66 3,075 7,818
Net cash provided by operating activities 336,631 341,062 379,121
INVESTING ACTIVITIES      
Investment in properties – acquisitions (255,639) (9,216) (111,811)
Investment in properties – other (56,104) (55,406) (77,626)
Investments in and advances to unconsolidated joint ventures (46,567) (70,581) (43,676)
Distributions from unconsolidated joint ventures 21,042 63,048 33,195
Net proceeds from disposition of properties/land 379,139 1,192,918 530,440
Investment in development in progress (260,447) (342,489) (210,677)
Investment in land held for development (105,564) (107,400) (150,523)
Payment of deferred leasing costs (37,678) (32,682) (48,672)
Increase in escrows (108,420) (25,254) (8,216)
Other 4,586 1,989 (2,094)
Net cash (used in) provided by investing activities (465,652) 614,927 (89,660)
FINANCING ACTIVITIES      
Net proceeds from issuance of common shares 8,808 13,029 38,797
Share repurchases, including shares related to tax withholdings (5,107) (46,268) (76,035)
Proceeds from unsecured notes 0 396,648 398,576
Repayments of unsecured notes including prepayment premium 0 (723,368) (316,000)
Repayments of mortgage loans (7,795) (29,538) (175,364)
Proceeds from credit facility 835,036 591,300 1,122,700
Repayments on credit facility (476,097) (850,300) (1,030,700)
Payment of deferred financing costs (5,190) (3,550) (3,656)
Distribution paid on common shares (246,589) (279,248) (282,582)
Distribution paid on units/noncontrolling interests (6,835) (8,212) (7,596)
Net cash provided by (used in) financing activities 96,231 (939,507) (331,860)
Net (decrease) increase in cash, cash equivalents and restricted cash (32,790) 16,482 (42,399)
Increase (decrease) in cash, cash equivalents and restricted cash related to foreign currency translation 2,450 (4,828) (2,901)
Cash, cash equivalents and restricted cash 25,685 56,025 44,371
Liberty Property Limited Partnership [Member]      
OPERATING ACTIVITIES      
Net income 290,045 366,145 245,924
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 183,887 207,673 229,779
Amortization of deferred financing costs 3,750 3,974 4,395
Expensed pursuit costs 5,066 1,016 605
Impairment - real estate assets 10,632 3,879 18,244
Loss on debt extinguishment 49 27,099 0
Equity in earnings of unconsolidated joint ventures (17,155) (21,970) (3,149)
Distributions from unconsolidated joint ventures 0 0 2,444
Gain on property dispositions (114,965) (219,270) (100,314)
Share-based compensation 14,119 19,850 17,152
Other 824 (6,128) (9,937)
Changes in operating assets and liabilities:      
Accounts receivable 3,512 421 1,009
Deferred rent receivable (19,605) (16,927) (23,167)
Prepaid expenses and other assets (33,663) (32,442) (15,145)
Accounts payable 10,151 8,943 1,822
Accrued interest (82) (4,276) 1,641
Other liabilities 66 3,075 7,818
Net cash provided by operating activities 336,631 341,062 379,121
INVESTING ACTIVITIES      
Investment in properties – acquisitions (255,639) (9,216) (111,811)
Investment in properties – other (56,104) (55,406) (77,626)
Investments in and advances to unconsolidated joint ventures (46,567) (70,581) (43,676)
Distributions from unconsolidated joint ventures 21,042 63,048 33,195
Net proceeds from disposition of properties/land 379,139 1,192,918 530,440
Investment in development in progress (260,447) (342,489) (210,677)
Investment in land held for development (105,564) (107,400) (150,523)
Payment of deferred leasing costs (37,678) (32,682) (48,672)
Increase in escrows (108,420) (25,254) (8,216)
Other 4,586 1,989 (2,094)
Net cash (used in) provided by investing activities (465,652) 614,927 (89,660)
FINANCING ACTIVITIES      
Proceeds from unsecured notes 0 396,648 398,576
Repayments of unsecured notes including prepayment premium 0 (723,368) (316,000)
Repayments of mortgage loans (7,795) (29,538) (175,364)
Proceeds from credit facility 835,036 591,300 1,122,700
Repayments on credit facility (476,097) (850,300) (1,030,700)
Payment of deferred financing costs (5,190) (3,550) (3,656)
Capital contributions 8,808 13,029 38,797
Distributions to partners/noncontrolling interests (258,531) (333,728) (366,213)
Net cash provided by (used in) financing activities 96,231 (939,507) (331,860)
Net (decrease) increase in cash, cash equivalents and restricted cash (32,790) 16,482 (42,399)
Increase (decrease) in cash, cash equivalents and restricted cash related to foreign currency translation 2,450 (4,828) (2,901)
Cash, cash equivalents and restricted cash $ 25,685 $ 56,025 $ 44,371