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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 123,968 $ 158,637 $ 151,164
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 257,783 185,391 153,825
Net amortization of debt discounts, premiums and deferred financing fees 5,942 6,319 6,042
Straight line rental income (18,039) (9,672) (7,080)
Amortization of acquired real estate leases and other intangible assets (4,060) (2,322) 3,656
Loss on early extinguishment of debt 1,894 12 797
Impairment of assets 796 4,367 45,599
Loss on distribution to common shareholders of The RMR Group Inc. common stock 38,437    
Other non-cash adjustments (2,145)    
Gain on sale of properties   (5,453) (37,392)
Gain on sale of investments (71)    
Equity in earnings of an investee (20) (87) (334)
Change in assets and liabilities:      
Restricted cash 4,389 1,970 (3,082)
Other assets (19,917) (1,102) (11,051)
Accrued interest (3,072) 4,207 82
Other liabilities 19,636 8,634 4,477
Net cash provided by operating activities 405,521 350,901 306,703
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate acquisitions and deposits (1,134,735) (1,225,770) (193,303)
Real estate improvements (70,427) (64,754) (52,270)
Investment in Affiliates Insurance Company   (825)  
Investment in The RMR Group Inc (17,286)    
Proceeds from sale of properties 2,782 27,325 92,550
Proceeds from sale of investments 6,571    
Net cash used for investing activities (1,213,095) (1,264,024) (153,023)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of common shares issued in public offering 659,496 322,807 261,813
Proceeds from issuance of unsecured senior notes, net of discount   648,915  
Proceeds from unsecured term loan 200,000 350,000  
Proceeds from borrowings on revolving credit facility 1,640,243 570,000 275,000
Repayments of borrowings on revolving credit facility (945,243) (590,000) (365,000)
Redemption of senior notes (250,000)    
Repayment of other debt (125,879) (86,432) (36,371)
Loss on early extinguishment of debt settled in cash (1,448)    
Payment of deferred financing fees (2,931) (8,039) (3,326)
Repurchase of common shares (212)    
Distributions to shareholders (356,390) (305,767) (288,945)
Net cash provided by (used for) financing activities 817,636 901,484 (156,829)
Increase (decrease) in cash and cash equivalents 10,062 (11,639) (3,149)
Cash and cash equivalents at beginning of period 27,594 39,233 42,382
Cash and cash equivalents at end of period 37,656 27,594 39,233
Supplemental cash flow information:      
Interest paid 148,011 124,588 111,695
Income taxes paid $ 477 155 600
Non-cash investing activities:      
Investment acquired by issuance of common shares (44,521)    
Acquisitions funded by assumed debt $ (181,433) (15,630) (12,266)
Non-cash financing activities:      
Assumption of mortgage notes payable 181,433 15,630 12,266
Issuance of common shares 47,691 $ 4,823 $ 2,541
Distribution to common shareholders of The RMR Group Inc. common stock $ (31,335)