XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 62,709 $ 57,657
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
(Gain) loss on sale of real estate (17,949) 560
Deferred income tax benefit (277) (90)
Equity in (income) loss from joint ventures (3,627) (1,985)
Financing Receivable, Credit Loss, Expense (Reversal) 2,737 587
Depreciation and amortization 40,469 41,204
Amortization of deferred financing costs 2,212 2,129
Amortization of above/below market leases and tenant allowances, net (84) (89)
Share-based Payment Arrangement, Noncash Expense 3,692 4,322
share based compensation included in severance expense 1,598 0
Increase (Decrease) in Operating Lease Assets and Liabilities, Net (287) 317
Mortgage notes accrued interest receivable (1,418) (296)
Accounts receivable (5,819) 2,998
Other assets (3,878) (6,276)
Accounts payable and accrued liabilities 6,202 8,861
Increase (Decrease) in Deferred Revenue 6,009 7,661
Net cash provided by operating activities 99,543 121,530
Investing activities:    
Payments to Acquire Productive Assets 34,531 46,669
Proceeds from Sale of Productive Assets 46,188 4,029
Investment in mortgage notes receivable (9,969) (1,427)
Proceeds from Sale and Collection of Mortgage Notes Receivable 198 132
Investment in promissory notes receivable 0 3,025
Proceeds from promissory note receivable paydown 136 161
Additions to properties under development (40,573) (14,711)
Net cash used by investing activities (38,551) (61,510)
Financing activities:    
Deferred financing fees paid (53) (74)
Net proceeds from issuance of common shares 185 141
Purchase of common shares for treasury (11,375) (3,565)
Dividends paid to shareholders (68,241) (67,988)
Net cash used by financing activities (79,484) (71,486)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (84) (8)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (18,576) (11,474)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 62,405 99,037
Cash and Cash Equivalents, at Carrying Value 59,476 96,438
Restricted Cash and Cash Equivalents 2,929 2,599
Supplemental schedule of non-cash activity:    
Transfer of property under development to rental property 111,154 134
Real Estate Owned, Transfer from Real Estate Owned 0 1,321
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses 20,096 21,698
Supplemental disclosure of cash flow information:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 17,265 17,913
Cash paid during the period for income taxes 617 253
Interest cost capitalized 958 783
Change in accrued capital expenditures $ (6,762) $ (7,510)