Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2016 |
Cash flows from operating activities: | | |
Net income | $ (93,039) | $ (105,334) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Provision for impairment | 0 | (1,666) |
Cash flows from investing activities: | | |
Proceeds from sale of real estate investments | 15,397 | 85,885 |
Parent Company [Member] | | |
Partnership units issued for acquisition of real estate | 13,100 | 0 |
Proceeds from Issuance of Unsecured Debt | 953,115 | 0 |
Cash flows from operating activities: | | |
Net income | (93,039) | (105,334) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 243,757 | 119,721 |
Amortization of deferred loan cost and debt premium | 7,144 | 7,242 |
Amortization of above and below Market Leases | (18,784) | (2,296) |
Share-based Compensation | 16,836 | 7,554 |
Stock-based compensation, net of capitalization | 2,459 | 2,561 |
Equity in income of investments in real estate partnerships | (33,804) | (46,618) |
Gain on sale of real estate, net of tax | (4,913) | (22,997) |
Provision for impairment | 0 | (1,666) |
Gain (Loss) on Extinguishment of Debt | (12,404) | (13,943) |
Distribution of earnings from operations of investments in real estate partnerships | (40,817) | (39,765) |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | (51) | 0 |
Deferred compensation expense | 2,885 | 1,249 |
Realized and unrealized (gain) loss on investments | (2,878) | (1,268) |
Increase (Decrease) in Restricted Cash for Operating Activities | 1,569 | 84 |
Changes in assets and liabilities: | | |
Accounts receivable, net | 2,574 | 3,715 |
Straight-line rent receivables, net | (13,901) | (4,894) |
Deferred leasing costs | (10,294) | (7,841) |
Other assets | 8,075 | (59) |
Accounts payable and other liabilities | 4,908 | 12,607 |
Tenants’ security, escrow deposits and prepaid rent | (2,490) | (1,406) |
Net cash provided by operating activities | 343,857 | 225,333 |
Cash flows from investing activities: | | |
Acquisition of operating real estate | (2,109) | (333,220) |
Payments for Deposits on Real Estate Acquisitions | (350) | 1,250 |
Payments for Merger Related Costs | (648,763) | 0 |
Real estate development and capital improvements | (241,834) | (146,773) |
Proceeds from sale of real estate investments | 15,397 | 83,675 |
Payments for (Proceeds from) Loans Receivable | 3,460 | 0 |
Investments in real estate partnerships | (12,296) | (13,127) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 36,603 | 52,536 |
Dividends on investment securities | 200 | 189 |
Acquisition of securities | (14,011) | (53,290) |
Proceeds from sale of securities | 11,974 | 54,176 |
Net cash used in investing activities | (858,649) | (354,584) |
Cash flows from financing activities: | | |
Net proceeds from common stock issuance | 0 | 549,545 |
Proceeds from sale of treasury stock | 100 | 957 |
Distributions to limited partners in consolidated partnerships, net | (7,031) | (3,126) |
Distributions to exchangeable operating partnership unit holders | (450) | (229) |
Dividends paid to common stockholders | (232,796) | (149,049) |
Dividends paid to preferred stockholders | (5,029) | (15,797) |
Proceeds from unsecured credit facilities | 950,000 | 395,000 |
Repayment of unsecured credit facilities | (650,000) | (295,000) |
Proceeds from notes payable | 126,999 | 20,223 |
Repayments of Notes Payable | (232,839) | (41,584) |
Scheduled principal payments | (7,452) | (4,462) |
Payment of loan costs | (12,868) | (1,954) |
Payments of Debt Extinguishment Costs | (12,419) | (13,214) |
Net cash provided by financing activities | 525,079 | 133,297 |
Payments Related to Tax Withholding for Share-based Compensation | (19,251) | (8,013) |
Repayments of Unsecured Debt | 0 | 300,000 |
Payments for Repurchase of Preferred Units | 325,000 | 0 |
Cash and cash equivalents at beginning of the period | 13,256 | 36,856 |
Cash and cash equivalents at end of the period | 23,543 | 40,902 |
Net increase in cash and cash equivalents | 10,287 | 4,046 |
Supplemental disclosure of cash flow information: | | |
Cash paid for interest (net of capitalized interest of $5,778 and $2,622 in 2017 and 2016, respectively) | 73,273 | 54,904 |
Income Taxes Paid | 670 | 0 |
Supplemental disclosure of non-cash transactions: | | |
Common stock issued under dividend reinvestment plan | 908 | 804 |
Contributions from limited partners in consolidated partnerships, net | 311 | 8,674 |
Common stock issued for dividend reinvestment in trust | 557 | 556 |
Contribution of stock awards into trust | 1,372 | 1,513 |
Distribution of stock held in trust | 677 | 4,096 |
Unrealized Gain (Loss) on Securities | 51 | 90 |
Deconsolidation of previously consolidated partnership [Abstract] | | |
Noncash or Part Noncash Acquisition, Debt Assumed | 757,399 | 0 |
Common stock exchanged for Equity One shares | (4,471,808) | 0 |
Deconsolidation of consolidated partnership, Real estate, net | 0 | 14,075 |
Deconsolidation of consolidated partnership, Return of capital | 0 | (3,355) |
Deconsolidation of consolidated partnership, Mortgage Notes Payable | 0 | (9,415) |
Deconsolidation of consolidated partnership, Other assets and liabilities | 0 | 640 |
Deconsolidation of consolidated partnership, Noncontrolling Interest | 0 | (2,099) |
Partnership Interest [Member] | | |
Partnership units issued for acquisition of real estate | 13,100 | 0 |
Proceeds from Issuance of Unsecured Debt | 953,115 | 0 |
Cash flows from operating activities: | | |
Net income | (93,039) | (105,334) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 243,757 | 119,721 |
Amortization of deferred loan cost and debt premium | 7,144 | 7,242 |
Amortization of above and below Market Leases | (18,784) | (2,296) |
Share-based Compensation | 16,836 | 7,554 |
Stock-based compensation, net of capitalization | 2,459 | 2,561 |
Equity in income of investments in real estate partnerships | (33,804) | (46,618) |
Gain on sale of real estate, net of tax | (4,913) | (22,997) |
Provision for impairment | 0 | (1,666) |
Gain (Loss) on Extinguishment of Debt | (12,404) | (13,943) |
Distribution of earnings from operations of investments in real estate partnerships | (40,817) | (39,765) |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | (51) | 0 |
Deferred compensation expense | 2,885 | 1,249 |
Realized and unrealized (gain) loss on investments | (2,878) | (1,268) |
Increase (Decrease) in Restricted Cash for Operating Activities | 1,569 | 84 |
Changes in assets and liabilities: | | |
Accounts receivable, net | 2,574 | 3,715 |
Straight-line rent receivables, net | (13,901) | (4,894) |
Deferred leasing costs | (10,294) | (7,841) |
Other assets | 8,075 | (59) |
Accounts payable and other liabilities | 4,908 | 12,607 |
Tenants’ security, escrow deposits and prepaid rent | (2,490) | (1,406) |
Net cash provided by operating activities | 343,857 | 225,333 |
Cash flows from investing activities: | | |
Acquisition of operating real estate | (2,109) | (333,220) |
Payments for Deposits on Real Estate Acquisitions | (350) | 1,250 |
Payments for Merger Related Costs | (648,763) | 0 |
Real estate development and capital improvements | (241,834) | (146,773) |
Proceeds from sale of real estate investments | 15,397 | 83,675 |
Payments for (Proceeds from) Loans Receivable | 3,460 | 0 |
Investments in real estate partnerships | (12,296) | (13,127) |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 36,603 | 52,536 |
Dividends on investment securities | 200 | 189 |
Acquisition of securities | (14,011) | (53,290) |
Proceeds from sale of securities | 11,974 | 54,176 |
Net cash used in investing activities | (858,649) | (354,584) |
Cash flows from financing activities: | | |
Net proceeds from common units issued as a result of common stock issued by Parent Company | 0 | 549,545 |
Proceeds from sale of treasury stock | 100 | 957 |
Distributions to limited partners in consolidated partnerships, net | (7,031) | (3,126) |
Dividends paid to common stockholders | (233,246) | (149,278) |
Dividends paid to preferred stockholders | (5,029) | (15,797) |
Proceeds from unsecured credit facilities | 950,000 | 395,000 |
Repayment of unsecured credit facilities | (650,000) | (295,000) |
Proceeds from notes payable | 126,999 | 20,223 |
Repayments of Notes Payable | (232,839) | (41,584) |
Scheduled principal payments | (7,452) | (4,462) |
Payment of loan costs | (12,868) | (1,954) |
Payments of Debt Extinguishment Costs | (12,419) | (13,214) |
Net cash provided by financing activities | 525,079 | 133,297 |
Payments for Repurchase of Common Stock | 19,251 | 8,013 |
Repayments of Unsecured Debt | 0 | 300,000 |
Payments for Repurchase of Preferred Units | 325,000 | 0 |
Cash and cash equivalents at beginning of the period | 13,256 | 36,856 |
Cash and cash equivalents at end of the period | 23,543 | 40,902 |
Net increase in cash and cash equivalents | 10,287 | 4,046 |
Supplemental disclosure of cash flow information: | | |
Cash paid for interest (net of capitalized interest of $5,778 and $2,622 in 2017 and 2016, respectively) | 73,273 | 54,904 |
Proceeds from Income Tax Refunds | 670 | |
Income Taxes Paid | | 0 |
Supplemental disclosure of non-cash transactions: | | |
Common stock issued under dividend reinvestment plan | 908 | 804 |
Contributions from limited partners in consolidated partnerships, net | 311 | 8,674 |
Common stock issued for dividend reinvestment in trust | 557 | 556 |
Contribution of stock awards into trust | 1,372 | 1,513 |
Distribution of stock held in trust | 677 | 4,096 |
Unrealized Gain (Loss) on Securities | 51 | 90 |
Deconsolidation of previously consolidated partnership [Abstract] | | |
Noncash or Part Noncash Acquisition, Debt Assumed | 757,399 | 0 |
Units Issued to Parent Company for common stock exchanged for Equity One shares | (4,471,808) | 0 |
Deconsolidation of consolidated partnership, Real estate, net | 0 | 14,075 |
Deconsolidation of consolidated partnership, Return of capital | 0 | (3,355) |
Deconsolidation of consolidated partnership, Mortgage Notes Payable | 0 | (9,415) |
Deconsolidation of consolidated partnership, Other assets and liabilities | 0 | 640 |
Deconsolidation of consolidated partnership, Noncontrolling Interest | $ 0 | $ (2,099) |