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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income $ (4,069,000) $ 18,441,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 183,631,000 166,939,000
Non-cash portion of interest expense 6,785,000 4,835,000
Amortization of stock-based compensation 11,322,000 9,878,000
Income from unconsolidated real estate entities (2,083,000) (1,105,000)
Unrealized loss (gain) on non-real estate investments 168,000 (10,793,000)
Straight-line rents (27,621,000) (13,114,000)
Straight-line rent expenses 844,000 737,000
Amortization of above- and below-market leases, net (4,692,000) (5,258,000)
Amortization of above- and below-market ground leases, net 1,355,000 1,175,000
Amortization of lease incentive costs 863,000 952,000
Distribution of income from unconsolidated entities 688,000 872,000
Gain on derivatives (3,513,000) 0
Impairment loss 23,753,000 0
Change in operating assets and liabilities:    
Accounts receivable 9,744,000 5,624,000
Deferred leasing costs and lease intangibles (9,807,000) (8,867,000)
Prepaid expenses and other assets (13,220,000) (14,899,000)
Accounts payable, accrued liabilities and other 18,250,000 25,301,000
Security deposits and prepaid rent (2,256,000) (7,787,000)
Net cash provided by operating activities 190,142,000 172,931,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment in real estate (113,605,000) (191,005,000)
Property acquisitions (87,970,000) 0
Maturities of U.S. Government securities 129,300,000 2,889,000
Contributions to non-real estate investments (11,974,000) (8,514,000)
Distributions from non-real estate investments 329,000 0
Distributions from unconsolidated real estate entities 883,000 908,000
Contributions to unconsolidated real estate entities (14,892,000) (8,325,000)
Additions to non-real estate property, plant and equipment (6,325,000) 0
Net cash used in investing activities (104,254,000) (204,047,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 389,327,000 86,850,000
Payments of unsecured and secured debt 0 (313,000)
Payments of in-substance defeased debt (1,815,000) (1,736,000)
Proceeds from sale of common stock 0 44,820,000
Transaction costs (214,000) 0
Repurchases of common stock (34,688,000) (14,756,000)
Accelerated share repurchase (200,000,000) 0
Dividends paid to common stock and unitholders (73,348,000) (77,168,000)
Dividends paid to preferred stock and unitholders (12,924,000) (306,000)
Contributions from redeemable non-controlling members in consolidated real estate entities 375,000 1,543,000
Distributions to redeemable non-controlling members in consolidated real estate entities (8,000) (8,000)
Contributions from non-controlling members in consolidated real estate entities 15,457,000 15,016,000
Distributions to non-controlling members in consolidated real estate entities (49,363,000) (26,728,000)
Payments to satisfy tax withholding obligations 0 (693,000)
Net cash provided by financing activities 32,799,000 26,521,000
Net increase (decrease) in cash and cash equivalents and restricted cash 118,687,000 (4,595,000)
Cash and cash equivalents and restricted cash—beginning of period 196,876,000 149,540,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 315,563,000 $ 144,945,000