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Cash Flow Statement

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All references to earnings per share are diluted earnings per share.
 2014 Y2015 Y2016 Y2017 Y2018 Q3 YTD
Source Document12/31/2016 12/31/2017 12/31/2017 12/31/2017 9/30/2018 
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
OPERATING ACTIVITIES 
Net income 73,39973,08185,11587,340124,232
Adjustments to reconcile net income to net cash provided by operating activities 
Depreciation and amortization 25,52929,43135,93237,61028,159
Stock-based compensation expense 3,2534,0064,2805,2494,384
Impairment charges 02,2507661,8800
Gain on sale of real estate, net (4,959)(586)(3,582)(3,814)(62,698)
Income from unconsolidated joint ventures 0(1,819)(1,138)(2,263)(2,103)
Income distributions from unconsolidated joint ventures 05521,6951,7381,727
Insurance proceeds for damaged property NANANANA2,619
Payment for remediation of damaged property NANANANA(455)
Straight-line rental income (3,002)(10,136)(13,477)(10,694)(8,629)
Lease incentives funded NANANANA(1,272)
Amortization of lease incentives 8411,6801,9452,2091,651
Provision for doubtful accounts 32619457(206)76
Non-cash interest related to contingent liabilities 18409684602377
Effect of earn-out and related lease inducement write-off NA00(842)NA
Non-cash income related to earn-out and related lease inducement write-off NANANANA0
Other non-cash items, net 7799851,2161,282923
Increase in interest receivable 105(3,939)(5,147)(5,367)(4,240)
Decrease in accrued interest payable 132418701601(1,808)
Net change in other assets and liabilities (365)5,390(3,739)(10,020)495
Net cash provided by operating activities 95,762102,341105,708105,30583,438
INVESTING ACTIVITIES 
Investment in real estate properties (11,650)(206,340)(74,923)(82,405)(40,408)
Investment in real estate developments (34,135)(25,929)(42,342)(22,901)(25,717)
Investment in real estate capital improvements (13,967)(7,534)(6,792)(2,899)(2,063)
Capitalized interest (1,506)(827)(1,408)(908)(850)
Proceeds from sale of real estate, net 33,5931,53717,36915,41382,340
Investment in real estate mortgage loans receivable (9,374)(67,134)(20,685)(11,913)(20,530)
Principal payments received on mortgage loans receivable 9,1554,8088,27817,8631,636
Investments in unconsolidated joint ventures 0(23,042)(1,770)(3,848)(580)
Payment of working capital reserve 0(805)(2,756)(439)0
Advances and originations under notes receivable (1,263)(1,554)(14,969)0(50)
Principal payments received on notes receivable 1130100253,848
Net cash used in investing activities (29,034)(326,820)(139,898)(92,012)(2,374)
FINANCING ACTIVITIES 
Bank borrowings 37,500291,000123,600113,00096,500
Repayment of bank borrowings (58,500)(170,500)(137,000)(123,600)(73,000)
Proceeds from issuance of senior unsecured notes 30,000200,00077,500100,0000
Principal payments on senior unsecured notes (4,167)(29,167)(26,667)(31,167)(20,166)
Principal payments on bonds payable (2,035)NANANANA
Proceeds from common stock issued 24,644078,59214,5781,005
Stock option exercises 1,07179159202123
Distributions paid to stockholders (74,431)(76,765)(84,568)(90,219)(67,768)
Contribution from non-controlling interests NA003,4883,963
Financing costs paid (2,132)(1,178)(147)(363)(3,162)
Other (219)(1,285)(2,230)(1,990)(1,201)
Net cash used in financing activities (48,269)212,18429,239(16,071)(63,706)
(Decrease) increase in cash and cash equivalents 18,459(12,295)(4,951)(2,778)NA
Cash and cash equivalents, beginning of period 6,77825,23712,9427,991NA
Cash and cash equivalents, end of period 25,23712,9427,9915,213NA
Increase (decrease) in cash, cash equivalents and restricted cash NANANANA17,358
Cash, cash equivalents and restricted cash, beginning of period NANANANA5,213
Cash, cash equivalents and restricted cash, end of period NANANANA22,571
Supplemental disclosure of cash flow information 
Interest paid 12,18816,07824,49028,07023,869


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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