XML 50 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities    
Net income $ 22,395 $ 12,569
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 77,186 59,686
Gain from sale of real estate   (475)
Equity compensation expense 455 (622)
Accretion of fair market value adjustment of debt (803) (800)
Equity in losses of real estate ventures 338 3,098
Changes in other operating accounts:    
Other assets (3,896) (1,353)
Restricted cash 190 353
Accounts payable and accrued expenses 3,306 (2,190)
Other liabilities 1,517 1,313
Net cash provided by operating activities 100,688 71,579
Investing Activities    
Acquisitions of storage facilities (85,627) (211,722)
Additions and improvements to storage facilities (11,874) (8,481)
Development costs (37,026) (12,693)
Cash contributed to real estate venture   (1,750)
Cash distributed from real estate venture 3,000 53,949
Proceeds from sale of real estate, net   13,475
Fundings of notes receivable (4,100)  
Change in restricted cash (63) 304
Net cash used in investing activities (135,690) (166,918)
Proceeds from:    
Revolving credit facility 378,700 447,200
Principal payments on:    
Revolving credit facility (295,100) (428,900)
Mortgage loans and notes payable (55,451) (2,653)
Loan procurement costs (2,283) (57)
Proceeds from issuance of common shares, net 56,478 126,123
Exercise of stock options 9,359 967
Contributions from noncontrolling interests in subsidiaries 178 548
Distributions paid to common shareholders (52,887) (36,682)
Distributions paid to preferred shareholders (3,004) (3,004)
Distributions paid to noncontrolling interests in Operating Partnership (722) (590)
Net cash provided by financing activities 35,268 102,952
Change in cash and cash equivalents 266 7,613
Cash and cash equivalents at beginning of year 2,901 3,176
Cash and cash equivalents at end of year 3,167 10,789
Supplemental Cash Flow and Noncash Information    
Cash paid for interest, net of interest capitalized 23,893 25,204
Supplemental disclosure of noncash activities:    
Accretion of liability 7,427 3,571
Derivative valuation adjustment 451 (54)
Foreign currency translation adjustment (69) 428
Mortgage loan assumption - acquisitions of storage facilities $ 2,695 $ 27,467