Company Info

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2017 Q2 YTD 6/30/2017 USD 2016 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2014 Y 12/31/2016 USD 2013 Y 12/31/2015 USD
Source Document Currency Code 2017 Q2 YTD 6/30/2017 USD 2016 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2014 Y 12/31/2016 USD 2013 Y 12/31/2015 USD

OPERATING ACTIVITIES

Net income 54,461 204,329 222,168 78,152 113,321

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

Depreciation and amortization 64,199 115,357 103,936 102,432 95,746
Amortization of deferred financing costs 1,749 3,237 2,730 2,382 2,194
Abandoned pre-development costs NA 0 0 2,365 0
Casualty gain NA 0 0 (486) 0
Gain on sale of assets (6,943) (6,305) (120,447) (7,513) 0
Gain on previously held interest in acquired joint venture 0 (95,516) 0 0 (26,002)
Equity in earnings of unconsolidated joint ventures (4,692) (10,872) (11,484) (9,053) (11,040)
Equity-based compensation expense 6,796 15,319 14,712 14,750 11,376
Amortization of debt (premiums) and discounts, net 245 1,290 256 (601) (886)
Amortization (accretion) of market rent rate adjustments, net 1,691 3,302 2,461 3,209 1,141
Straight-line rent adjustments (3,293) (7,002) (6,347) (6,073) (5,529)
Payment of discount on extinguishment of debt NA 0 0 (913) 0
Distributions of cumulative earnings from unconsolidated joint ventures 4,952 13,662 12,137 9,586 5,853
Changes in other assets and liabilities
Other assets 787 (544) (798) 4,160 (7,676)
Accounts payable and accrued expenses (9,198) 3,059 1,431 (3,626) 8,988
Net cash provided by operating activities 110,754 239,316 220,755 188,771 187,486

INVESTING ACTIVITIES

Additions to rental property (88,761) (165,060) (238,706) (145,896) (47,436)
Acquisitions of interests in unconsolidated joint ventures, net of cash acquired 0 (45,219) 0 0 (11,271)
Additions to investments in unconsolidated joint ventures (3,617) (32,968) (45,286) (142,268) (150,854)
Net proceeds on sale of assets 39,213 28,706 164,587 38,993 0
Change in restricted cash 0 121,306 (121,306) 0 0
Additions to non-real estate assets (7,959) (6,503) (837) (1,053) (7,768)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 6,330 60,267 26,875 65,336 47,149
Additions to deferred lease costs (2,845) (7,013) (7,803) (5,664) (4,046)
Other investing activities 2,591 983 649 1,964 0
Net cash provided by (used in) investing activities (55,048) (45,501) (221,827) (188,588) (174,226)

FINANCING ACTIVITIES

Cash dividends paid (65,250) (141,088) (104,877) (90,448) (87,211)
Distributions to noncontrolling interests in Operating Partnership (3,356) (7,428) (5,561) (4,836) (4,294)
Proceeds from debt issuances NA NA NA NA 785,803
Repayments of debt NA NA NA NA (697,377)
Proceeds from revolving credit facility 326,254 845,650 537,000 657,800 NA
Repayments of revolving credit facility (286,127) (974,950) (457,700) (563,000) NA
Proceeds from notes, mortgages and loans 454 437,420 90,839 273,808 NA
Repayments of notes, mortgages and loans (1,483) (330,329) (49,783) (252,690) NA
Repayment of deferred financing obligation 0 (28,388) 0 0 NA
Repurchase of common shares, including transaction costs (39,354) NA NA NA NA
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,435) (2,177) (1,126) (15,520) 0
Acquisition of noncontrolling interest in other consolidated partnership NA (1,942) 0 0 (525)
Distributions to noncontrolling interests in other consolidated partnerships NA (385) (156) (127) (102)
Additions to deferred financing costs (50) (5,496) (2,829) (3,913) (4,001)
Proceeds from exercise of options 54 1,749 788 903 635
Other financing activities 11,718 3,897 259 0 0
Net cash used in financing activities (59,575) (203,467) 6,854 1,977 (7,072)
Effect of foreign currency rate changes on cash and cash equivalents 9 316 (1,099) (526) (1,282)
Net increase (decrease) in cash and cash equivalents (3,860) (9,336) 4,683 1,634 4,906
Cash and cash equivalents, beginning of period 12,222 21,558 16,875 15,241 10,335
Cash and cash equivalents, end of period 8,362 12,222 21,558 16,875 15,241
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.