Company Info

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2018 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2016 Y 12/31/2018 USD 2015 Y 12/31/2017 USD
Source Document Currency Code 2018 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2016 Y 12/31/2018 USD 2015 Y 12/31/2017 USD

Operating Activities

Net income 45,563 71,876 204,329 222,168

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization 131,722 127,744 115,357 103,936
Impairment charge 49,739 0 0 NA
Amortization of deferred financing costs 3,058 3,263 3,237 2,730
Gain on sale of assets 0 (6,943) (6,305) (120,447)
Gain on previously held interest in acquired joint ventures 0 0 (95,516) 0
Loss on early extinguishment of debt 0 35,626 0 0
Equity in earnings of unconsolidated joint ventures (924) (1,937) (10,872) (11,484)
Equity-based compensation expense 14,669 13,585 15,319 14,712
Amortization of debt (premiums) and discounts, net 416 462 1,290 256
Amortization (accretion) of market rent rate adjustments, net 2,577 2,829 3,302 2,461
Straight-line rent adjustments (5,844) (5,632) (7,002) (6,347)
Distributions of cumulative earnings from unconsolidated joint ventures 7,941 10,697 13,662 12,137
Changes in other asset and liabilities
Other assets 2,079 365 (544) (798)
Accounts payable and accrued expenses 7,322 1,224 3,059 1,431
Net cash provided by operating activities 258,318 253,159 239,316 220,755

Investing Activities

Additions to rental property (64,253) (166,231) (165,060) (238,706)
Acquisitions of interest in unconsolidated joint ventures, net of cash acquired 0 0 (45,219) 0
Additions to investments in unconsolidated joint ventures (1,916) (5,892) (32,968) (45,286)
Net proceeds on sale of assets 0 39,213 28,706 164,587
Change in restricted cash NA NA NA (121,306)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 25,232 25,084 60,267 26,875
Additions to non-real estate assets (1,330) (8,909) (6,503) (837)
Additions to deferred lease costs (6,703) (6,584) (7,013) (7,803)
Other investing activities 8,947 5,774 983 649
Net cash used in investing activities (40,023) (117,545) (166,807) (221,827)

Financing Activities

Cash dividends paid (131,244) (130,166) (141,088) (104,877)
Distributions to noncontrolling interests in Operating Partnership (6,955) (6,800) (7,428) (5,561)
Proceeds from revolving credit facility 491,900 719,521 845,650 537,000
Repayments of revolving credit facility (554,900) (572,421) (974,950) (457,700)
Proceeds from notes, mortgages and loans 25,000 299,460 437,420 90,839
Repayments of notes, mortgages and loans (11,783) (373,258) (330,329) (49,783)
Payment of make-whole premium related to early extinguishment of debt 0 (34,143) 0 0
Repayment of deferred financing obligation 0 0 (28,388) 0
Repurchase of common shares, including transaction costs (19,998) (49,361) 0 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,436) (2,177) (1,126)
Additions to deferred financing costs (4,428) (2,850) (5,496) (2,829)
Proceeds from exercise of options 0 54 1,749 788
Proceeds from other financing activities 626 12,054 3,897 259
Payment for other financing activities (1,353) (1,333) (2,327) (156)
Net cash used in financing activities (215,203) (141,679) (203,467) 6,854
Effect of foreign currency rate changes on cash and cash equivalents (110) (56) 316 (1,099)
Net decrease in cash and cash equivalents NA NA NA 4,683
Cash and cash equivalents, beginning of period NA NA NA 16,875
Cash and cash equivalents, end of period NA NA NA 21,558
Net increase (decrease) in cash, cash equivalents and restricted cash 2,982 (6,121) (130,642) NA
Cash, cash equivalents and restricted cash, beginning of period 6,101 12,222 142,864 NA
Cash, cash equivalents and restricted cash, end of period 9,083 6,101 12,222 NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.