Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

v3.19.3
Consolidated Statements Of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 142,458,000 $ 218,727,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization expense 75,863,000 73,505,000
Tenant improvement reimbursement amortization, net of lease incentive amortization (788,000) (1,690,000)
Gain on sale of real estate facilities   (85,283,000)
Stock compensation expense 3,991,000 2,933,000
Amortization of financing costs 410,000 400,000
Other, net (1,071,000) (4,823,000)
Total adjustments 78,405,000 (14,958,000)
Net cash provided by operating activities 220,863,000 203,769,000
Cash flows from investing activities    
Capital expenditures to real estate facilities (26,272,000) (25,817,000)
Capital expenditures to land and building held for development (2,873,000) (517,000)
Acquisition of real estate facilities (117,691,000) (142,399,000)
Consolidation of joint venture   1,082,000
Proceeds from sale of real estate facilities   126,836,000
Net cash used in investing activities (146,836,000) (40,815,000)
Cash flows from financing activities    
Borrowings on credit facility 70,000,000 50,000,000
Repayment of borrowings on credit facility (20,000,000) (50,000,000)
Payment of financing costs (237,000) (227,000)
Proceeds from the exercise of stock options 709,000 1,679,000
Redemption of preferred stock   (130,000,000)
Cash paid for taxes in lieu of shares upon vesting of restricted stock units (6,120,000) (4,955,000)
Cash paid to restricted stock unit holders (699,000) (835,000)
Distributions paid to preferred shareholders (38,877,000) (39,614,000)
Distributions paid to common shareholders (86,343,000) (75,107,000)
Distributions paid to noncontrolling interests - common units (23,012,000) (20,090,000)
Distributions paid to noncontrolling interests - joint venture (78,000) 0
Net cash used in financing activities (104,657,000) (269,149,000)
Net decrease in cash and cash equivalents (30,630,000) (106,195,000)
Cash, cash equivalents and restricted cash at the beginning of the period 38,467,000 115,970,000
Cash, cash equivalents and restricted cash at the end of the period 7,837,000 9,775,000
Adjustment to noncontrolling interests- common units in the OP    
Noncontrolling interests- common units (748,000) (453,000)
Paid-in capital $ 748,000 453,000
Consolidation of joint venture    
Land   21,814,000
Buildings and improvements   85,436,000
Other, net   (2,320,000)
Investment in and advances to unconsolidated joint venture   (100,898,000)
Noncontrolling interest - joint venture   $ (4,032,000)