Company Info

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2019 Q2 YTD 6/30/2019 USD 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 2019 Q2 YTD 6/30/2019 USD 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 80,298 45,563 71,876 204,329 222,168

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

Depreciation and amortization 62,906 131,722 127,744 115,357 103,936
Impairment charge NA 49,739 0 0 NA
Amortization of deferred financing costs 1,497 3,058 3,263 3,237 2,730
Gain on sale of assets (43,422) 0 (6,943) (6,305) (120,447)
Gain on previously held interest in acquired joint ventures NA 0 0 (95,516) 0
Loss on early extinguishment of debt NA 0 35,626 0 0
Equity in earnings of unconsolidated joint ventures (3,275) (924) (1,937) (10,872) (11,484)
Equity-based compensation expense 10,799 14,669 13,585 15,319 14,712
Amortization of debt (premiums) and discounts, net 220 416 462 1,290 256
Amortization (accretion) of market rent rate adjustments, net 753 2,577 2,829 3,302 2,461
Straight-line rent adjustments (4,886) (5,844) (5,632) (7,002) (6,347)
Distributions of cumulative earnings from unconsolidated joint ventures 3,154 7,941 10,697 13,662 12,137
Other non-cash 3,638 NA NA NA NA
Changes in other assets and liabilities
Other assets (577) 2,079 365 (544) (798)
Accounts payable and accrued expenses (18,384) 7,322 1,224 3,059 1,431
Net cash provided by operating activities 92,721 258,318 253,159 239,316 220,755

INVESTING ACTIVITIES

Additions to rental property (22,402) (64,253) (166,231) (165,060) (238,706)
Acquisitions of interest in unconsolidated joint ventures, net of cash acquired NA 0 0 (45,219) 0
Additions to investments in unconsolidated joint ventures (1,695) (1,916) (5,892) (32,968) (45,286)
Net proceeds from sale of assets 128,248 0 39,213 28,706 164,587
Change in restricted cash NA NA NA NA (121,306)
Additions to non-real estate assets (480) (1,330) (8,909) (6,503) (837)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 12,303 25,232 25,084 60,267 26,875
Additions to deferred lease costs (4,119) (6,703) (6,584) (7,013) (7,803)
Other investing activities 4,476 8,947 5,774 983 649
Net cash provided by (used) in investing activities 116,331 (40,023) (117,545) (166,807) (221,827)

FINANCING ACTIVITIES

Cash dividends paid (66,368) (131,244) (130,166) (141,088) (104,877)
Distributions to noncontrolling interests in Operating Partnership (3,496) (6,955) (6,800) (7,428) (5,561)
Proceeds from revolving credit facility 207,500 491,900 719,521 845,650 537,000
Repayments of revolving credit facility (334,100) (554,900) (572,421) (974,950) (457,700)
Proceeds from notes, mortgages and loans NA 25,000 299,460 437,420 90,839
Repayments of notes, mortgages and loans (1,661) (11,783) (373,258) (330,329) (49,783)
Payment of make-whole premium related to early extinguishment of debt NA 0 (34,143) 0 0
Repayment of deferred financing obligation NA 0 0 (28,388) 0
Repurchase of common shares, including transaction costs (10,000) (19,998) (49,361) 0 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,781) (2,068) (2,436) (2,177) (1,126)
Additions to deferred financing costs (65) (4,428) (2,850) (5,496) (2,829)
Proceeds from exercise of options NA 0 54 1,749 788
Proceeds from other financing activities 36 626 12,054 3,897 259
Payment for other financing activities (805) (1,353) (1,333) (2,327) (156)
Net cash used in financing activities (210,740) (215,203) (141,679) (203,467) 6,854
Effect of foreign currency rate changes on cash and cash equivalents (16) (110) (56) 316 (1,099)
Net increase (decrease) in cash, cash equivalents and restricted cash NA 2,982 (6,121) (130,642) NA
Cash, cash equivalents and restricted cash, beginning of period NA 6,101 12,222 142,864 NA
Cash, cash equivalents and restricted cash, end of period NA 9,083 6,101 12,222 NA
Net decrease in cash and cash equivalents (1,704) NA NA NA 4,683
Cash and cash equivalents, beginning of period 9,083 NA NA NA 16,875
Cash and cash equivalents, end of period 7,379 NA NA NA 21,558
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.