Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2017 |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Provision for impairment | $ 3,348 | $ 0 |
Cash flows from investing activities: | | |
Proceeds from sale of real estate investments | 42,008 | 15,230 |
Cash flows from financing activities: | | |
Repayment of unsecured credit facilities | (60,000) | |
Partnership Interest [Member] | | |
Cash flows from operating activities: | | |
Net income | (102,054) | (29,457) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 177,629 | 152,284 |
Amortization of deferred loan costs and debt premiums | 4,999 | 4,769 |
Amortization of above and below Market Leases | (19,326) | (11,683) |
Share-based Compensation | 6,574 | 13,826 |
Equity in income of investments in real estate partnerships | (19,523) | (21,583) |
Gain on sale of real estate, net of tax | (1,219) | (4,781) |
Provision for impairment | 28,587 | 0 |
Gain (Loss) on Extinguishment of Debt | 11,172 | 12,404 |
Distribution of earnings from operations of investments in real estate partnerships | (26,711) | (26,271) |
Deferred compensation expense | 544 | 1,948 |
Realized and unrealized gain on investments | (530) | (1,951) |
Changes in assets and liabilities: | | |
Accounts receivable, net | 6,023 | 10,639 |
Straight-line rent receivables, net | (9,825) | (8,887) |
Deferred leasing costs | (3,404) | (6,701) |
Other assets | (6,174) | 3,617 |
Accounts payable and other liabilities | (6,052) | (23,850) |
Tenants’ security and escrow deposits and prepaid rent | 2,666 | 1,291 |
Net cash provided by operating activities | 300,906 | 177,070 |
Cash flows from investing activities: | | |
Acquisition of operating real estate | (85,766) | (345) |
Payments for Deposits on Real Estate Acquisitions | (2,025) | (100) |
Payments for Merger Related Costs | 0 | (646,984) |
Real estate development and capital improvements | (120,579) | (159,889) |
Proceeds from sale of real estate investments | 42,508 | 13,270 |
Payments for (Proceeds from) Loans Receivable | 15,648 | (2,837) |
Investments in real estate partnerships | (45,451) | (3,064) |
Proceeds from Equity Method Investment, Distribution, Return of Capital | 2,328 | 30,612 |
Dividends on investment securities | 176 | 128 |
Acquisition of securities | (11,726) | (9,853) |
Proceeds from sale of securities | 10,976 | 10,877 |
Net cash used in investing activities | (193,911) | (768,185) |
Cash flows from financing activities: | | |
Payments Related to Tax Withholding for Share-based Compensation | (6,755) | (18,998) |
Payments for Repurchase of Common Stock | (124,989) | 0 |
Proceeds from sale of treasury stock | 99 | 76 |
Payments for Repurchase of Preferred Units | 0 | 250,000 |
Distributions to limited partners in consolidated partnerships, net | (2,159) | (5,891) |
Dividends paid to common stockholders | (188,948) | (143,208) |
Dividends paid to preferred stockholders | 0 | (4,366) |
Repayments of Unsecured Debt | 150,000 | 0 |
Proceeds from Issuance of Unsecured Debt | 299,511 | 953,115 |
Proceeds from unsecured credit facilities | 400,000 | 905,000 |
Repayment of unsecured credit facilities | (310,000) | (620,000) |
Proceeds from notes payable | 1,740 | 124,088 |
Repayments of Notes Payable | (6,199) | (232,839) |
Scheduled principal payments | (5,513) | (4,789) |
Payment of loan costs | (9,432) | (11,832) |
Payment for Debt Extinguishment or Debt Prepayment Cost | 10,491 | 12,419 |
Net cash (used in) provided by financing activities | (113,136) | 677,937 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (6,141) | 86,822 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 43,240 | 104,701 |
Supplemental disclosure of cash flow information: | | |
Cash paid for interest (net of capitalized interest of $4,150 and $3,290 in 2018 and 2017, respectively) | 66,692 | 43,643 |
Proceeds from Income Tax Refunds | (290) | (899) |
Supplemental disclosure of non-cash transactions: | | |
Partnership units issued for acquisition of real estate | 0 | 13,100 |
Noncash or Part Noncash Acquisition, Debt Assumed | 9,700 | 0 |
Real Estate Received Through Foreclosure On Notes Receivable | 0 | 6,000 |
Common stock issued under dividend reinvestment plan | 678 | 607 |
Stock-based compensation, net of capitalization | 1,777 | 1,624 |
Contributions from limited partners in consolidated partnerships, net | 0 | 286 |
Common stock issued for dividend reinvestment in trust | 415 | 366 |
Contribution of stock awards into trust | 1,174 | 1,372 |
Distribution of stock held in trust | 524 | 640 |
Unrealized Gain (Loss) on Securities | (89) | 43 |
Parent Company [Member] | | |
Cash flows from operating activities: | | |
Net income | (102,054) | (29,457) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 177,629 | 152,284 |
Amortization of deferred loan costs and debt premiums | 4,999 | 4,769 |
Amortization of above and below Market Leases | (19,326) | (11,683) |
Share-based Compensation | 6,574 | 13,826 |
Equity in income of investments in real estate partnerships | (19,523) | (21,583) |
Gain on sale of real estate, net of tax | (1,219) | (4,781) |
Provision for impairment | 28,587 | 0 |
Gain (Loss) on Extinguishment of Debt | 11,172 | 12,404 |
Distribution of earnings from operations of investments in real estate partnerships | (26,711) | (26,271) |
Deferred compensation expense | 544 | 1,948 |
Realized and unrealized gain on investments | (530) | (1,951) |
Changes in assets and liabilities: | | |
Accounts receivable, net | 6,023 | 10,639 |
Straight-line rent receivables, net | (9,825) | (8,887) |
Deferred leasing costs | (3,404) | (6,701) |
Other assets | (6,174) | 3,617 |
Accounts payable and other liabilities | (6,052) | (23,850) |
Tenants’ security and escrow deposits and prepaid rent | 2,666 | 1,291 |
Net cash provided by operating activities | 300,906 | 177,070 |
Cash flows from investing activities: | | |
Acquisition of operating real estate | (85,766) | (345) |
Payments for Deposits on Real Estate Acquisitions | (2,025) | (100) |
Payments for Merger Related Costs | 0 | (646,984) |
Real estate development and capital improvements | (120,579) | (159,889) |
Proceeds from sale of real estate investments | 42,508 | 13,270 |
Payments for (Proceeds from) Loans Receivable | 15,648 | (2,837) |
Investments in real estate partnerships | (45,451) | (3,064) |
Proceeds from Equity Method Investment, Distribution, Return of Capital | 2,328 | 30,612 |
Dividends on investment securities | 176 | 128 |
Acquisition of securities | (11,726) | (9,853) |
Proceeds from sale of securities | 10,976 | 10,877 |
Net cash used in investing activities | (193,911) | (768,185) |
Cash flows from financing activities: | | |
Payments Related to Tax Withholding for Share-based Compensation | (6,755) | (18,998) |
Payments for Repurchase of Common Stock | (124,989) | 0 |
Proceeds from sale of treasury stock | 99 | 76 |
Payments for Repurchase of Preferred Units | 0 | 250,000 |
Distributions to limited partners in consolidated partnerships, net | (2,159) | (5,891) |
Distributions to exchangeable operating partnership unit holders | (389) | (264) |
Dividends paid to common stockholders | (188,559) | (142,944) |
Dividends paid to preferred stockholders | 0 | (4,366) |
Repayments of Unsecured Debt | 150,000 | 0 |
Proceeds from Issuance of Unsecured Debt | 299,511 | 953,115 |
Proceeds from unsecured credit facilities | 400,000 | 905,000 |
Repayment of unsecured credit facilities | (310,000) | (620,000) |
Proceeds from notes payable | 1,740 | 124,088 |
Repayments of Notes Payable | (6,199) | (232,839) |
Scheduled principal payments | (5,513) | (4,789) |
Payment of loan costs | (9,432) | (11,832) |
Payment for Debt Extinguishment or Debt Prepayment Cost | 10,491 | 12,419 |
Net cash (used in) provided by financing activities | (113,136) | 677,937 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (6,141) | 86,822 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 43,240 | 104,701 |
Supplemental disclosure of cash flow information: | | |
Cash paid for interest (net of capitalized interest of $4,150 and $3,290 in 2018 and 2017, respectively) | 66,692 | 43,643 |
Proceeds from Income Tax Refunds | (290) | (899) |
Supplemental disclosure of non-cash transactions: | | |
Partnership units issued for acquisition of real estate | 0 | 13,100 |
Noncash or Part Noncash Acquisition, Debt Assumed | 9,700 | 0 |
Real Estate Received Through Foreclosure On Notes Receivable | 0 | 6,000 |
Common stock issued under dividend reinvestment plan | 678 | 607 |
Stock-based compensation, net of capitalization | 1,777 | 1,624 |
Contributions from limited partners in consolidated partnerships, net | 0 | 286 |
Common stock issued for dividend reinvestment in trust | 415 | 366 |
Contribution of stock awards into trust | 1,174 | 1,372 |
Distribution of stock held in trust | 524 | 640 |
Unrealized Gain (Loss) on Securities | (89) | 43 |
Equity One Inc. [Member] | Partnership Interest [Member] | | |
Supplemental disclosure of non-cash transactions: | | |
Noncash or Part Noncash Acquisition, Debt Assumed | 0 | 757,399 |
Units Issued to Parent Company for common stock exchanged for Equity One shares | 0 | 4,471,808 |
Equity One Inc. [Member] | Parent Company [Member] | | |
Supplemental disclosure of non-cash transactions: | | |
Noncash or Part Noncash Acquisition, Debt Assumed | 0 | 757,399 |
Common stock exchanged for Equity One shares | $ 0 | $ 4,471,808 |