Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended |
Sep. 30, 2018 | Sep. 30, 2017 |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Provision for impairment, net of tax | $ 29,443 | $ 0 |
Cash flows from investing activities: | | |
Proceeds from sale of real estate investments | 151,142 | 15,397 |
Cash flows from financing activities: | | |
Repayment of unsecured credit facilities | (60,000) | |
Partnership Interest [Member] | | |
Cash flows from operating activities: | | |
Net income | (172,588) | (93,039) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 266,812 | 243,757 |
Amortization of deferred loan costs and debt premiums | 7,599 | 7,144 |
Amortization of above and below Market Leases | (26,031) | (18,784) |
Share-based Compensation | 10,012 | 16,836 |
Equity in income of investments in real estate partnerships | (29,548) | (33,804) |
Gain on sale of real estate, net of tax | (4,448) | (4,913) |
Provision for impairment, net of tax | 29,443 | 0 |
Gain (Loss) on Extinguishment of Debt | 11,172 | 12,404 |
Distribution of earnings from operations of investments in real estate partnerships | (40,366) | (40,817) |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | 0 | 51 |
Deferred compensation expense | 1,475 | 2,885 |
Realized and unrealized gain on investments | (1,524) | (2,878) |
Changes in assets and liabilities: | | |
Tenant and other receivables, net | (13,326) | (11,327) |
Deferred leasing costs | (6,259) | (10,294) |
Other assets | (6,565) | 8,075 |
Accounts payable and other liabilities | 15,100 | 4,908 |
Tenants’ security, escrow deposits and prepaid rent | (2,111) | (2,490) |
Net cash provided by operating activities | 464,755 | 345,426 |
Cash flows from investing activities: | | |
Acquisition of operating real estate | (85,766) | (2,109) |
Payments for Deposits on Real Estate Acquisitions | (150) | (350) |
Payments for Merger Related Costs | 0 | (646,790) |
Real estate development and capital improvements | (174,145) | (240,827) |
Proceeds from sale of real estate investments | 151,142 | 13,323 |
Payments for (Proceeds from) Loans Receivable | 15,648 | (3,460) |
Investments in real estate partnerships | (58,372) | (12,296) |
Proceeds from Equity Method Investment, Distribution, Return of Capital | 5,488 | 36,603 |
Dividends on investment securities | 281 | 200 |
Acquisition of investment securities | (16,946) | (14,011) |
Proceeds from sale of investment securities | 15,639 | 11,974 |
Net cash used in investing activities | (147,181) | (857,743) |
Cash flows from financing activities: | | |
Payments Related to Tax Withholding for Share-based Compensation | (6,772) | (19,251) |
Payments for Repurchase of Common Stock | (124,989) | 0 |
Proceeds from sale of treasury stock | 99 | 100 |
Payments for Repurchase of Preferred Units | 0 | 325,000 |
Distributions to limited partners in consolidated partnerships, net | (3,457) | (7,031) |
Dividends paid to common stockholders | (282,858) | (233,246) |
Dividends paid to preferred stockholders | 0 | (5,029) |
Repayments of Unsecured Debt | 150,000 | 0 |
Proceeds from Issuance of Unsecured Debt | 299,511 | 953,115 |
Proceeds from unsecured credit facilities | 455,000 | 950,000 |
Repayment of unsecured credit facilities | (370,000) | (650,000) |
Proceeds from notes payable | 1,740 | 126,999 |
Repayments of Notes Payable | (113,037) | (232,839) |
Scheduled principal payments | (7,767) | (7,452) |
Payment of loan costs | (9,448) | (12,868) |
Payment for Debt Extinguishment or Debt Prepayment Cost | 10,491 | 12,419 |
Net cash (used in) provided by financing activities | (322,469) | 525,079 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (4,895) | 12,762 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 44,486 | 30,641 |
Supplemental disclosure of cash flow information: | | |
Cash paid for interest (net of capitalized interest of $5,820 and $5,778 in 2018 and 2017, respectively) | 104,210 | 73,273 |
Proceeds from Income Tax Refunds | (4,771) | (670) |
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 |
Common stock issued under dividend reinvestment plan | 996 | 908 |
Stock-based compensation, net of capitalization | 2,606 | 2,459 |
Contributions from limited partners in consolidated partnerships, net | 0 | 311 |
Common stock issued for dividend reinvestment in trust | 627 | 557 |
Contribution of stock awards into trust | 1,244 | 1,372 |
Distribution of stock held in trust | 524 | 677 |
Unrealized Gain (Loss) on Securities | 5 | 51 |
Parent Company [Member] | | |
Cash flows from operating activities: | | |
Net income | (172,588) | (93,039) |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 266,812 | 243,757 |
Amortization of deferred loan costs and debt premiums | 7,599 | 7,144 |
Amortization of above and below Market Leases | (26,031) | (18,784) |
Share-based Compensation | 10,012 | 16,836 |
Equity in income of investments in real estate partnerships | (29,548) | (33,804) |
Gain on sale of real estate, net of tax | (4,448) | (4,913) |
Provision for impairment, net of tax | 29,443 | 0 |
Gain (Loss) on Extinguishment of Debt | 11,172 | 12,404 |
Distribution of earnings from operations of investments in real estate partnerships | (40,366) | (40,817) |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | 0 | 51 |
Deferred compensation expense | 1,475 | 2,885 |
Realized and unrealized gain on investments | (1,524) | (2,878) |
Changes in assets and liabilities: | | |
Tenant and other receivables, net | (13,326) | (11,327) |
Deferred leasing costs | (6,259) | (10,294) |
Other assets | (6,565) | 8,075 |
Accounts payable and other liabilities | 15,100 | 4,908 |
Tenants’ security, escrow deposits and prepaid rent | (2,111) | (2,490) |
Net cash provided by operating activities | 464,755 | 345,426 |
Cash flows from investing activities: | | |
Acquisition of operating real estate | (85,766) | (2,109) |
Payments for Deposits on Real Estate Acquisitions | (150) | (350) |
Payments for Merger Related Costs | 0 | (646,790) |
Real estate development and capital improvements | (174,145) | (240,827) |
Proceeds from sale of real estate investments | 151,142 | 13,323 |
Payments for (Proceeds from) Loans Receivable | 15,648 | (3,460) |
Investments in real estate partnerships | (58,372) | (12,296) |
Proceeds from Equity Method Investment, Distribution, Return of Capital | 5,488 | 36,603 |
Dividends on investment securities | 281 | 200 |
Acquisition of investment securities | (16,946) | (14,011) |
Proceeds from sale of investment securities | 15,639 | 11,974 |
Net cash used in investing activities | (147,181) | (857,743) |
Cash flows from financing activities: | | |
Payments Related to Tax Withholding for Share-based Compensation | (6,772) | (19,251) |
Payments for Repurchase of Common Stock | (124,989) | 0 |
Proceeds from sale of treasury stock | 99 | 100 |
Payments for Repurchase of Preferred Units | 0 | 325,000 |
Distributions to limited partners in consolidated partnerships, net | (3,457) | (7,031) |
Distributions to exchangeable operating partnership unit holders | (582) | (450) |
Dividends paid to common stockholders | (282,276) | (232,796) |
Dividends paid to preferred stockholders | 0 | (5,029) |
Repayments of Unsecured Debt | 150,000 | 0 |
Proceeds from Issuance of Unsecured Debt | 299,511 | 953,115 |
Proceeds from unsecured credit facilities | 455,000 | 950,000 |
Repayment of unsecured credit facilities | (370,000) | (650,000) |
Proceeds from notes payable | 1,740 | 126,999 |
Repayments of Notes Payable | (113,037) | (232,839) |
Scheduled principal payments | (7,767) | (7,452) |
Payment of loan costs | (9,448) | (12,868) |
Payment for Debt Extinguishment or Debt Prepayment Cost | 10,491 | 12,419 |
Net cash (used in) provided by financing activities | (322,469) | 525,079 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (4,895) | 12,762 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 44,486 | 30,641 |
Supplemental disclosure of cash flow information: | | |
Cash paid for interest (net of capitalized interest of $5,820 and $5,778 in 2018 and 2017, respectively) | 104,210 | 73,273 |
Proceeds from Income Tax Refunds | (4,771) | (670) |
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 |
Common stock issued under dividend reinvestment plan | 996 | 908 |
Stock-based compensation, net of capitalization | 2,606 | 2,459 |
Contributions from limited partners in consolidated partnerships, net | 0 | 311 |
Common stock issued for dividend reinvestment in trust | 627 | 557 |
Contribution of stock awards into trust | 1,244 | 1,372 |
Distribution of stock held in trust | 524 | 677 |
Unrealized Gain (Loss) on Securities | 5 | 51 |
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 |