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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net earnings     $ 23,673 $ 24,125  
Adjustments to reconcile net earnings to net cash flow provided by operating activities:          
Depreciation and amortization expense $ 7,325 $ 6,151 14,422 12,250  
Impairment charges     1,538 1,472  
(Gain) loss on dispositions of real estate     (1,056) (376)  
Deferred rent receivable     (1,628) (1,785)  
Amortization of above-market and below-market leases     (180) (342)  
Amortization of investment in direct financing leases     2,021 1,695  
Amortization of debt issuance costs     521 470  
Accretion expense     922 1,032  
Stock-based compensation     1,600 1,139  
Changes in assets and liabilities:          
Accounts receivable     (1,045) 191  
Prepaid expenses and other assets     (915) (612)  
Environmental remediation obligations     (4,602) (4,431)  
Accounts payable and accrued liabilities     (2,482) (1,573)  
Net cash flow provided by operating activities     32,789 33,255  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Property acquisitions     (68,671) (29,700) $ (87,157)
Capital expenditures     (23)    
Addition to construction in progress     (96) (430)  
Proceeds from dispositions of real estate     1,181 592  
Deposits for property acquisitions     940 27  
(Issuance) of notes and mortgages receivable     (2,131) (470)  
Collection of notes and mortgages receivable     3,835 2,803  
Net cash flow (used in) investing activities     (64,965) (27,178)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Borrowings under credit agreement     65,000 35,000  
Repayments under credit agreement     (10,000) (40,000)  
Payment of finance lease obligations     (312) (259)  
Security deposits received (refunded)     51 (271)  
Payments of cash dividends     (30,779) (28,332)  
Payments in settlement of restricted stock units     (244) (115)  
Net cash flow provided by (used in) financing activities     35,632 (27,314)  
Change in cash, cash equivalents and restricted cash     3,456 (21,237)  
Cash, cash equivalents and restricted cash at beginning of period     23,664 48,742 48,742
Cash, cash equivalents and restricted cash at end of period $ 27,120 $ 27,505 27,120 27,505 $ 23,664
Supplemental disclosures of cash flow information Cash paid during the period for:          
Interest     12,754 11,575  
Income taxes     290 247  
Environmental remediation obligations     3,374 3,872  
Non-cash transactions:          
Dividends declared but not yet paid     15,768 14,628  
Issuance of notes and mortgages receivable related to property dispositions     792 926  
ATM Program [Member]          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common stock, net     $ 11,916 $ 6,663