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Cash Flow Statement

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All references to earnings per share are diluted earnings per share.
 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document12/31/2015 12/31/2016 12/31/2016 12/31/2016 3/31/2017 
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
OPERATING ACTIVITIES 
Net income 57,81573,39973,08185,11521,513
Adjustments to reconcile net income to net cash provided by operating activities 
Depreciation and amortization 24,70625,52929,43135,9329,359
Stock-based compensation expense 2,5913,2534,0064,2801,259
Impairment on real estate 002,250766NA
Gain on sale of assets, net (1,605)(4,959)(586)(3,582)NA
Income from unconsolidated joint ventures 00(1,819)(1,138)(445)
Income distributions from unconsolidated joint ventures 005521,695356
Straight-line rental income (3,955)(3,002)(10,136)(13,477)(2,867)
Amortization of lease incentive 6608411,6801,945527
Provision for doubtful accounts 2,18032619457(38)
Non-cash interest related to contingent liabilities 25618409684226
Other non-cash items, net 7267799851,216314
Increase in interest receivable 87105(3,939)(5,147)(1,185)
Decrease in accrued interest payable 145132418701(416)
Net change in other assets and liabilities 3,519(365)5,390(3,739)(7,553)
Net cash provided by operating activities 87,12595,762102,341105,70821,050
INVESTING ACTIVITIES 
Investment in real estate properties (19,040)(11,650)(206,340)(74,923)0
Investment in real estate developments (23,605)(34,135)(25,929)(42,342)(3,443)
Investment in real estate capital improvements (6,992)(13,967)(7,534)(6,792)(742)
Capitalized interest (932)(1,506)(827)(1,408)(170)
Proceeds from sale of real estate, net 11,00133,5931,53717,3690
Investment in real estate mortgage loans receivable (129,358)(9,374)(67,134)(20,685)(4,384)
Principal payments received on mortgage loans receivable 1,9339,1554,8088,27810,958
Investments in unconsolidated joint ventures 00(23,042)(1,770)(914)
Payment of working capital reserve 00(805)(2,756)(439)
Advances and originations under notes receivable (1,004)(1,263)(1,554)(14,969)0
Principal payments received on notes receivable 3,110113010025
Net cash provided by (used in) investing activities (164,887)(29,034)(326,820)(139,898)891
FINANCING ACTIVITIES 
Bank borrowings 93,00037,500291,000123,6003,500
Repayment of bank borrowings (187,500)(58,500)(170,500)(137,000)(110,600)
Proceeds from issuance of senior unsecured notes 70,00030,000200,00077,500100,000
Principal payments on senior unsecured notes 0(4,167)(29,167)(26,667)(4,167)
Principal payments on bonds payable (600)(2,035)00NA
Payment of earn-out liabilities (7,000)NANANANA
Proceeds from common stock issued 176,26024,644078,59214,578
Stock option exercises 5231,07179159NA
Distributions paid to stockholders (66,904)(74,431)(76,765)(84,568)(22,552)
Distributions paid to non-controlling interests (7)NANANANA
Financing costs paid (171)(2,132)(1,178)(147)(301)
Other (252)(219)(1,285)(2,230)(1,658)
Net cash (used in) provided by financing activities 77,349(48,269)212,18429,239(21,200)
Increase in cash and cash equivalents (413)18,459(12,295)(4,951)741
Cash and cash equivalents, beginning of period 7,1916,77825,23712,9427,991
Cash and cash equivalents, end of period 6,77825,23712,9427,9918,732
Supplemental disclosure of cash flow information 
Interest paid 10,46612,18816,07824,4907,574


Data shown on this page is extracted directly from the company's documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company's presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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