Company Info

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2018 Q3 YTD 9/30/2018 USD 2017 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2015 Y 12/31/2017 USD 2014 Y 12/31/2016 USD
Source Document Currency Code 2018 Q3 YTD 9/30/2018 USD 2017 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2015 Y 12/31/2017 USD 2014 Y 12/31/2016 USD

OPERATING ACTIVITIES

Net income 24,944 71,876 204,329 222,168 78,152

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

Depreciation and amortization 98,667 127,744 115,357 103,936 102,432
Impairment charge 49,739 NA NA NA NA
Amortization of deferred financing costs 2,280 3,263 3,237 2,730 2,382
Abandoned pre-development costs NA NA NA NA 2,365
Casualty gain NA NA NA NA (486)
Gain on sale of assets 0 (6,943) (6,305) (120,447) (7,513)
Gain on previously held interest in acquired joint ventures NA 0 (95,516) 0 0
Loss on early extinguishment of debt 0 35,626 0 0 NA
Equity in (earnings) losses of unconsolidated joint ventures (6,233) (1,937) (10,872) (11,484) (9,053)
Equity-based compensation expense 10,814 13,585 15,319 14,712 14,750
Amortization of debt (premiums) and discounts, net 309 462 1,290 256 (601)
Amortization (accretion) of market rent rate adjustments, net 1,980 2,829 3,302 2,461 3,209
Straight-line rent adjustments (4,744) (5,632) (7,002) (6,347) (6,073)
Payment of discount on extinguishment of debt NA NA NA NA (913)
Distributions of cumulative earnings from unconsolidated joint ventures 6,081 10,697 13,662 12,137 9,586
Changes in other assets and liabilities
Other assets (406) 365 (544) (798) 4,160
Accounts payable and accrued expenses (3,471) 1,224 3,059 1,431 (3,626)
Net cash provided by operating activities 179,960 253,159 239,316 220,755 188,771

INVESTING ACTIVITIES

Additions to rental property (53,349) (166,231) (165,060) (238,706) (145,896)
Acquisitions of interest in unconsolidated joint ventures, net of cash acquired NA 0 (45,219) 0 0
Additions to investments in unconsolidated joint ventures (1,764) (5,892) (32,968) (45,286) (142,268)
Net proceeds from sale of assets 0 39,213 28,706 164,587 38,993
Change in restricted cash NA 0 121,306 (121,306) 0
Additions to non-real estate assets (1,203) (8,909) (6,503) (837) (1,053)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 16,656 25,084 60,267 26,875 65,336
Additions to deferred lease costs (5,220) (6,584) (7,013) (7,803) (5,664)
Other investing activities 8,065 5,774 983 649 1,964
Net cash used in investing activities (36,815) (117,545) (45,501) (221,827) (188,588)

FINANCING ACTIVITIES

Cash dividends paid (98,341) (130,166) (141,088) (104,877) (90,448)
Distributions to noncontrolling interests in Operating Partnership (5,207) (6,800) (7,428) (5,561) (4,836)
Proceeds from revolving credit facility 391,900 719,521 845,650 537,000 657,800
Repayments of revolving credit facility (396,900) (572,421) (974,950) (457,700) (563,000)
Proceeds from notes, mortgages and loans 0 299,460 437,420 90,839 273,808
Repayments of notes, mortgages and loans (10,971) (373,258) (330,329) (49,783) (252,690)
Payment of make-whole premium related to early extinguishment of debt 0 (34,143) 0 0 NA
Repayment of deferred financing obligation NA 0 (28,388) 0 0
Repurchase of common shares, including transaction costs (19,998) (49,361) 0 0 NA
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,436) (2,177) (1,126) (15,520)
Acquisition of noncontrolling interest in other consolidated partnership NA NA NA NA 0
Distributions to noncontrolling interests in other consolidated partnerships NA NA NA NA (127)
Additions to deferred financing costs (2,615) (2,850) (5,496) (2,829) (3,913)
Proceeds from exercise of options 0 54 1,749 788 903
Proceeds from other financing activities 445 12,054 3,897 259 NA
Payment for other financing activities (1,027) (1,333) (2,327) (156) 0
Net cash used in financing activities (144,782) (141,679) (203,467) 6,854 1,977
Effect of foreign currency rate changes on cash and cash equivalents (60) (56) 316 (1,099) (526)
Net decrease in cash and cash equivalents (1,697) (6,121) (9,336) 4,683 1,634
Cash and cash equivalents, beginning of period 6,101 12,222 21,558 16,875 15,241
Cash and cash equivalents, end of period 4,404 6,101 12,222 21,558 16,875
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.