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Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 88,811 $ 76,364
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,576 42,682
Income from acquired leasehold interest (39,215) 0
Casualty and impairment loss 5,637 0
Loss on extinguishment of debt 1,274 0
Amortization of deferred financing costs 2,175 2,106
Amortization of below market leases, net (6,842) (5,907)
Straight-lining of rent 520 (97)
Share-based compensation expense 5,248 4,080
Gain on sale of real estate (202) (15,618)
Provision for doubtful accounts 1,674 994
Change in operating assets and liabilities:    
Tenant and other receivables (9,605) (821)
Deferred leasing costs (3,556) (2,624)
Prepaid and other assets (6,073) (1,954)
Accounts payable and accrued expenses 12,372 (1,368)
Other liabilities 1,704 1,346
Net cash provided by operating activities 114,498 99,183
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate development and capital improvements (55,941) (45,668)
Acquisition of real estate (211,393) (2,000)
Proceeds from sale of real estate 5,005 19,938
Net cash used in investing activities (262,329) (27,730)
CASH FLOWS FROM FINANCING ACTIVITIES    
Debt repayments (88,559) (34,008)
Dividends paid to shareholders (70,408) (59,390)
Distributions to redeemable noncontrolling interests (6,705) (3,711)
Debt issuance costs (11,352) 0
Taxes withheld for vested restricted shares (287) (38)
Proceeds from issuance of common shares 348,214 5,020
Proceeds from borrowings 225,500 0
Net cash provided by (used in) financing activities 396,403 (92,127)
Net increase (decrease) in cash and cash equivalents and restricted cash 248,572 (20,674)
Cash and cash equivalents and restricted cash at beginning of period 140,186 178,025
Cash and cash equivalents and restricted cash at end of period 388,758 157,351
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payment for interest, includes amounts capitalized of $2,912 and $2,755, respectively 40,567 38,503
Cash payments for income taxes 1,237 1,258
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Acquisition of real estate through issuance of OP units 171,084 0
Acquisition of real estate through assumption of debt 69,659 0
Accrued capital expenditures included in accounts payable and accrued expenses 15,226 12,340
Write-off of fully depreciated assets 910 958
Cash and cash equivalents and restricted cash at end of period 140,186 178,025
Urban Edge Properties LP    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 88,811 76,364
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,576 42,682
Income from acquired leasehold interest (39,215) 0
Casualty and impairment loss 5,637 0
Loss on extinguishment of debt 1,274 0
Amortization of deferred financing costs 2,175 2,106
Amortization of below market leases, net (6,842) (5,907)
Straight-lining of rent 520 (97)
Share-based compensation expense 5,248 4,080
Gain on sale of real estate (202) (15,618)
Provision for doubtful accounts 1,674 994
Change in operating assets and liabilities:    
Tenant and other receivables (9,605) (821)
Deferred leasing costs (3,556) (2,624)
Prepaid and other assets (6,073) (1,954)
Accounts payable and accrued expenses 12,372 (1,368)
Other liabilities 1,704 1,346
Net cash provided by operating activities 114,498 99,183
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate development and capital improvements (55,941) (45,668)
Acquisition of real estate (211,393) (2,000)
Proceeds from sale of real estate 5,005 19,938
Net cash used in investing activities (262,329) (27,730)
CASH FLOWS FROM FINANCING ACTIVITIES    
Debt repayments (88,559) (34,008)
Distributions to partners (77,113) (63,101)
Debt issuance costs (11,352) 0
Taxes withheld for vested restricted shares (287) (38)
Proceeds from issuance of common shares 348,214 5,020
Proceeds from borrowings 225,500 0
Net cash provided by (used in) financing activities 396,403 (92,127)
Net increase (decrease) in cash and cash equivalents and restricted cash 248,572 (20,674)
Cash and cash equivalents and restricted cash at beginning of period 140,186 178,025
Cash and cash equivalents and restricted cash at end of period 388,758 157,351
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payment for interest, includes amounts capitalized of $2,912 and $2,755, respectively 40,567 38,503
Cash payments for income taxes 1,237 1,258
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Acquisition of real estate through issuance of OP units 171,084 0
Acquisition of real estate through assumption of debt 69,659 0
Accrued capital expenditures included in accounts payable and accrued expenses 15,226 12,340
Write-off of fully depreciated assets 910 958
Cash and cash equivalents and restricted cash at end of period $ 140,186 $ 178,025