XML 18 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 23,572 $ 24,810
Adjustments to reconcile net earnings to net cash flow provided by operating activities:    
Depreciation and amortization expense 11,501 8,787
Impairment charges 3,977 4,651
(Gain) loss on dispositions of real estate (3,665) (176)
Deferred rent receivable (2,243) (1,746)
Allowance (recoveries) for uncollectible accounts 7 61
Accretion expense 1,308 1,795
Amortization of above-market and below-market leases (359) (228)
Amortization of loan origination costs 403 384
Stock-based compensation 848 655
Changes in assets and liabilities:    
Accounts receivable 94 22
Prepaid expenses and other assets (139) (3,688)
Environmental remediation obligations (5,153) (13,239)
Accounts payable and accrued liabilities 599 (304)
Net cash flow provided by operating activities 30,750 21,784
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property acquisitions (55,308) (17,800)
Capital expenditures (68) (6)
Addition to construction in progress (1,092) (694)
Proceeds from dispositions of real estate 1,576 1,918
Deposits for property acquisitions (280) (611)
Amortization of investment in direct financing leases 1,448 1,200
(Issuance) of notes and mortgages receivable (140)  
Collection of notes and mortgages receivable 1,577 758
Net cash flow (used in) investing activities (52,287) (15,235)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under credit agreement 50,000 20,000
Repayments under credit agreement (115,000) (60,000)
Proceeds from senior unsecured notes 100,000 50,000
Payment of loan origination costs (3,347) (157)
Payments of cash dividends (24,981) (18,941)
Payments in settlement of restricted stock units   (1,193)
Proceeds from issuance of common stock, net - ATM 13,714 5,860
Other (275) (40)
Net cash flow provided by (used in) financing activities 20,111 (4,471)
Change in cash, cash equivalents and restricted cash (1,426) 2,078
Cash, cash equivalents and restricted cash at beginning of period 20,813 13,194
Cash, cash equivalents and restricted cash at end of period 19,387 15,272
Supplemental disclosures of cash flow information Cash paid during the period for:    
Interest 9,911 7,740
Income taxes 246 93
Environmental remediation obligations 4,545 7,520
Non-cash transactions:    
Dividends declared but not yet paid 13,025 9,827
Issuance of notes and mortgages receivable related to property dispositions $ 3,313 $ 432