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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net income $ 10,988 $ (7,399) $ 19,861 $ 69,482
Adjustments to reconcile net income to cash flow from operating activities:        
Depreciation and amortization 53,984 72,793 107,520 150,966
Accretion of loan discounts and premiums, net     (5,493) (5,495)
Amortization of deferred financing costs, net     1,763 1,824
Stock compensation expense     6,462 5,178
Gain on sale of real estate assets, net 0 0 (985) (94,712)
Amortization related to derivative instruments     644 634
Casualty losses (gains), net 680 (5,592) 831 (6,985)
Equity in loss from investments in unconsolidated real estate entities 1,205 871 1,981 934
Other loss (income)     891 (736)
Changes in assets and liabilities:        
Other assets     4,186 6,829
Accounts payable and accrued expenses     (9,308) (13,775)
Accrued interest payable     273 (284)
Other liabilities     (1,432) (2,273)
Cash flow provided by operating activities     127,194 111,587
Cash flows from investing activities:        
Acquisition of real estate properties     0 (25,957)
Investments in unconsolidated real estate entities     (21,729) (33,519)
Return of investment in unconsolidated real estate entities     0 3,406
Disposition of real estate properties, net     35,557 155,639
Capital expenditures     (67,199) (29,139)
Additions to real estate under development     (30,588) (20,723)
Proceeds from insurance claims     0 15,462
Cash flow (used in) provided by investing activities     (83,959) 65,169
Cash flows from financing activities:        
Costs from issuance of common stock, net     (13) (960)
Proceeds from unsecured credit facility and term loans     125,000 81,000
Unsecured credit facility, secured credit facility and term loan repayments     (97,513) (226,000)
Mortgage principal repayments     (3,666) (3,680)
Payments for deferred financing costs     (60) (49)
Distributions on common stock     (63,026) (43,425)
Distributions to noncontrolling interests     (1,686) (1,037)
Repurchase of shares related to equity award tax withholding     (3,776) (5,881)
Cash flow used in financing activities     (44,740) (200,032)
Net change in cash and cash equivalents, and restricted cash     (1,505) (23,276)
Cash and cash equivalents, and restricted cash, beginning of period     44,017 65,671
Cash and cash equivalents, and restricted cash, end of the period 42,512 42,395 42,512 42,395
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets        
Cash and cash equivalents 14,349 11,378 14,349 11,378
Restricted cash 28,163 31,017 28,163 31,017
Total cash, cash equivalents, and restricted cash, end of period $ 42,512 $ 42,395 $ 42,512 $ 42,395