XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
OPERATING ACTIVITIES          
Net income $ 6,130 $ 23,096 $ 48,357 $ 47,118  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     109,772 99,905  
Other amortization     2,680 1,728  
Share-based compensation     7,055 5,647  
Amortization of straight-line rent receivable (lessor)     (3,292) (3,024)  
Amortization of straight-line rent on operating leases (lessee)     756 735  
Gain on sales of real estate properties     (53,280) (39,860)  
Loss on extinguishment of debt 0 0 1,429 0  
Impairment of real estate properties     (25) 5,912  
Equity loss from unconsolidated joint ventures 307 146 652 220  
Distributions from unconsolidated joint ventures     108 0  
Non-cash interest from financing receivable     (388) 0  
Changes in operating assets and liabilities:          
Other assets, including right-of-use-assets     540 (4,746)  
Accounts payable and accrued liabilities     (3,166) (10,418)  
Other liabilities     2,923 2,412  
Net cash provided by operating activities     114,121 105,629  
INVESTING ACTIVITIES          
Acquisitions of real estate     (287,004) (100,121)  
Development of real estate     (7,475) (1,415)  
Additional long-lived assets     (45,631) (41,839)  
Investments in unconsolidated joint ventures     (49,599) (45,018)  
Investment in financing receivable     498    
Investment in financing receivable       (104,648)  
Proceeds from sales of real estate properties     108,044 90,144  
Net cash used in investing activities     (281,167) (202,897)  
FINANCING ACTIVITIES          
Net borrowings on unsecured credit facility     280,500 13,000  
Repayments of notes and bonds payable     (18,224) (1,925)  
Redemption of notes and bonds payable     (2,184) 0  
Dividends paid     (93,774) (86,803)  
Net proceeds from issuance of common stock     22,768 179,381  
Common stock redemptions     (852) (2,014)  
Debt issuance and assumption costs     0 (252)  
Payments made on finance leases     (51) (683)  
Net cash provided by financing activities     188,183 100,704  
Increase in cash and cash equivalents     21,137 3,436  
Cash and cash equivalents at beginning of period     13,175 15,303 $ 15,303
Cash and cash equivalents at end of period $ 34,312 $ 18,739 34,312 18,739 $ 13,175
Supplemental Cash Flow Information          
Interest paid     26,641 24,659  
Invoices accrued for construction, tenant improvements and other capitalized costs     18,874 19,506  
Capitalized interest     $ 145 $ 154