Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of cost capitalized
Payroll and related costs and interest costs capitalized for the years ended December 31, 2021, 2020 and 2019 were as follows (in thousands):
2021 2020 2019
Payroll and related costs capitalized $ 1,526  $ 1,159  $ 1,581 
Interest costs capitalized $ —  $ 107  $ 25 
Schedule of depreciation expense
Depreciation expense related to rental property included in net income for each of the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands):
2021 2020 2019
Depreciation expense related to rental property $ 96,990  $ 101,665  $ 107,129 
Schedule of Deferred Charges Deferred lease costs capitalized, including amounts paid to third-party brokers and internal leasing costs for the years ended December 31, 2021, 2020 and 2019 were as follows (in thousands):
2021 2020 2019
Deferred lease costs capitalized- payroll and related costs $ 1,233  $ 1,343  $ 679 
Total deferred lease costs capitalized $ 5,115  $ 3,061  $ 5,142 
Tax Treatment of Common Dividends Per Share for Federal Tax Purposes Dividends per share for the years ended December 31, 2021, 2020 and 2019 were taxable as follows:
Common dividends per share: 2021 2020 2019
Ordinary income $ —  $ 0.7125  $ 1.3261 
Capital gain —  —  — 
Return of capital 0.7150  —  0.0889 
$ 0.7150  $ 0.7125  $ 1.4150 
GAAP Reconciliation of Net Income to Taxable Income
The following reconciles net income (loss) available to the Company's shareholders to taxable income (loss) available to common shareholders for the years ended December 31, 2021, 2020 and 2019 (in thousands):
2021 2020 2019
Net income (loss) available to the Company's shareholders $ 9,118  $ (36,278) $ 87,855 
Book/tax difference on:
Depreciation and amortization 21,750  71,896  51,602 
Sale of assets and interests in unconsolidated entities (92,998) (6,021) (41,138)
Equity in earnings from unconsolidated joint ventures (4,461) 9,642  1,447 
Share-based payment compensation 6,797  7,859  8,246 
Other differences 8,914  13,536  8,948 
Taxable income (loss) available to common shareholders $ (50,880) $ 60,634  $ 116,960 
Schedule of Supplemental Cash Flow Disclosures Expenditures included in accounts payable and accrued expenses were as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands):
  2021 2020 2019
Costs relating to construction included in accounts payable and accrued expenses $ 11,663  $ 22,814  $ 17,619 

Interest paid, net of interest capitalized was as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands):
2021 2020 2019
Interest paid, net of interest capitalized $ 45,114  $ 58,021  $ 57,237