Company Info

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2016 Q3 YTD 9/30/2016 USD 2015 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2013 Y 12/31/2015 USD 2012 Y 12/31/2014 USD
Source Document Currency Code 2016 Q3 YTD 9/30/2016 USD 2015 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2013 Y 12/31/2015 USD 2012 Y 12/31/2014 USD

OPERATING ACTIVITIES

Net income 178,693 222,168 78,152 113,321 56,476

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

Depreciation and amortization 82,078 103,936 102,432 95,746 98,683
Amortization of deferred financing costs 2,350 2,730 2,382 2,194 2,313
Abandoned pre-development costs NA 0 2,365 0 0
Casualty gain NA 0 (486) 0 0
Gain on sale of real estate NA NA NA NA 0
Gain on sale of assets and interests in unconsolidated entities (6,305) (120,447) (7,513) 0 NA
Gain on previously held interests in acquired joint ventures (95,516) 0 0 (26,002) 0
Equity in earnings of unconsolidated joint ventures (7,680) (11,484) (9,053) (11,040) 3,295
Share-based compensation expense 11,815 14,712 14,750 11,376 10,676
Amortization of debt (premiums) and discounts, net 1,160 256 (601) (886) (1,007)
Amortization (accretion) of market rent rate adjustments, net 2,087 2,461 3,209 1,141 (348)
Straight-line rent adjustments (5,092) (6,347) (6,073) (5,529) (3,649)
Payment of discount on extinguishment of debt NA 0 (913) 0 0
Distributions of cumulative earnings from unconsolidated joint ventures 10,571 12,137 9,586 5,853 1,005
Changes in other assets and liabilities
Other assets 1,093 (798) 4,160 (7,676) (5,557)
Accounts payable and accrued expenses 2,512 1,431 (3,626) 8,988 3,863
Net cash provided by operating activities 177,766 220,755 188,771 187,486 165,750

INVESTING ACTIVITIES

Additions to rental property (112,213) (238,706) (145,896) (47,436) (41,283)
Acquisitions of interests in unconsolidated joint ventures, net of cash acquired (45,219) 0 0 (11,271) 0
Acquisition of noncontrolling interest in other consolidated partnership (1,942) NA NA NA NA
Additions to investments in unconsolidated joint ventures (27,851) (45,286) (142,268) (150,854) (103,041)
Net proceeds on sale of real estate NA NA NA NA 0
Net proceeds on sale of assets and interests in unconsolidated entities 28,706 164,587 38,993 0 NA
Change in restricted cash 118,370 (121,306) 0 0 NA
Proceeds from insurance reimbursements 721 649 1,964 0 0
Additions to non-real estate assets (8,982) (837) (1,053) (7,768) 0
Distributions in excess of cumulative earnings from unconsolidated joint ventures 14,193 26,875 65,336 47,149 1,471
Additions to deferred lease costs (5,273) (7,803) (5,664) (4,046) (5,056)
Net cash used in investing activities (39,490) (221,827) (188,588) (174,226) (147,909)

FINANCING ACTIVITIES

Cash dividends paid (109,879) (104,877) (90,448) (87,211) (76,903)
Distributions to noncontrolling interests in Operating Partnership (5,786) (5,561) (4,836) (4,294) (4,931)
Proceeds from debt issuances NA 627,839 931,608 785,803 585,800
Repayments of debt NA (507,483) (815,690) (697,377) (517,271)
Proceeds from revolving credit facility 733,450 NA NA NA NA
Repayments of revolving credit facility (727,750) NA NA NA NA
Proceeds from notes, mortgages and loans 338,270 NA NA NA NA
Repayments of notes, mortgages and loans (329,603) NA NA NA NA
Repayment of deferred financing obligation (28,388) NA NA NA NA
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,164) (1,126) (15,520) 0 0
Acquisition of noncontrolling interests in other consolidated partnerships NA 0 0 (525) 0
Distributions to noncontrolling interests in other consolidated partnerships (99) (156) (127) (102) 0
Proceeds from tax increment financing NA NA NA NA 0
Additions to deferred financing costs (4,243) (2,829) (3,913) (4,001) (2,591)
Proceeds from exercise of options 1,693 788 903 635 481
Contributions from noncontrolling interests in other consolidated partnerships 35 259 0 0 NA
Net cash provided by (used in) financing activities (134,464) 6,854 1,977 (7,072) (15,415)
Effect of foreign currency rate changes on cash and cash equivalents 532 (1,099) (526) (1,282) 15
Net increase in cash and cash equivalents 4,344 4,683 1,634 4,906 2,441
Cash and cash equivalents, beginning of period 21,558 16,875 15,241 10,335 7,894
Cash and cash equivalents, end of period 25,902 21,558 16,875 15,241 10,335
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.