v3.7.0.1
Supplemental Cash Flow Disclosures
6 Months Ended
Jun. 30, 2017
Supplemental Cash Flow Elements [Abstract]  
Supplemental Cash Flow Disclosures

15. Supplemental Cash Flow Disclosures

Cash paid for interest was $15,457 and $ 13,518 for the six months ended June 30, 2017 and 2016, respectively. Cash paid for state income and franchise taxes was $649 and $253 for the six months ended June 30, 2017 and 2016, respectively.

The following are non-cash transactions and have been excluded from the accompanying Condensed Consolidated Statements of Cash Flows:

 

During the six months ended June 30, 2017 and 2016, the Company issued 241 and 182 shares, respectively, of common stock with a value of approximately $18,592 and $13,201, respectively, under the terms of the DRIP (see Note 13).

 

During the six months ended June 30, 2017 and 2016, the Company issued 103 and 97 membership units in the Operating Company in exchange for property contributed in UPREIT transactions valued at $8,278 and $7,190 (see Note 11).

 

At June 30, 2017 and 2016, dividend amounts declared and accrued but not yet paid amounted to $7,630 and $5,967, respectively.

 

In connection with fire damage incurred at three properties during the six months ended June 30, 2017, the Company recognized $2,857 in insurance recovery receivables which were a reduction to depreciation expense for the associated real estate assets.