Financial Information

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Operating activities

Net income 83,770 123,325 162,038 216,970 225,138

Adjustments to net income

Depreciation and amortization 88,615 119,618 150,279 181,826 164,635
Amortization of deferred financing costs and other noncash interest expense 6,507 7,267 9,978 9,549 6,452
Amortization of equity-based compensation 4,735 7,022 7,931 8,608 8,083
Provisions for impairment 1,000 1,720 13,440 7,810 9,951
Net gain on dispositions of real estate (1,322) (13,296) (39,609) (45,528) (72,395)
Loss (gain) on defeasance/extinguishment of debt NA 0 0 (814) 735
Noncash revenue and other 135 54 3,733 2,291 (1,455)
Payments (made) received in settlement of cash flow hedges NA 0 0 4,288 (6,735)
Changes in operating assets and liabilities
Other assets (3,803) (5,340) (4,126) (4,926) (3,868)
Accrued expenses, deferred revenue and other liabilities 7,365 5,934 5,761 11,604 5,133
Net cash provided by operating activities 187,002 246,304 309,425 391,678 335,674

Investing activities

Acquisition of and additions to real estate (1,114,641) (1,153,141) (1,335,305) (1,514,718) (1,020,961)
Investment in loans and financing receivables (107,395) (44,297) (35,229) (88,088) (143,885)
Collections of principal on loans and financing receivables 5,356 5,680 29,770 5,205 6,820
Proceeds from dispositions of real estate 38,671 61,385 239,893 230,563 409,939
Net cash used in investing activities (1,178,009) (1,130,373) (1,100,871) (1,367,038) (748,087)

Financing activities

Borrowings under credit facility 651,000 599,000 642,000 988,000 521,100
Repayments under credit facility (651,000) (551,000) (400,000) (1,143,000) (656,100)
Borrowings under unsecured notes and term loans payable 175,000 300,000 100,000 348,303 347,410
Borrowings under non-recourse debt obligations of consolidated special purpose entities 385,965 264,894 134,961 591,843 41,690
Repayments under non-recourse debt obligations of consolidated special purpose entities (39,147) (29,115) (237,998) (283,770) (28,930)
Financing and defeasance costs paid (12,608) (8,912) (2,764) (15,521) (4,627)
Proceeds from the issuance of common stock 542,142 478,704 754,357 753,918 459,924
Stock issuance costs paid (20,721) (15,437) (11,834) (12,167) (7,282)
Shares repurchased under stock compensation plans 0 (1,719) (1,346) (2,835) (5,032)
Dividends paid (107,912) (162,618) (209,918) (255,572) (224,975)
Net cash provided by financing activities 922,719 873,797 767,458 969,199 443,178
Net increase (decrease) in cash, cash equivalents and restricted cash (68,288) (10,272) (23,988) (6,161) 30,765
Cash, cash equivalents and restricted cash, beginning of period 151,726 83,438 73,166 49,178 43,017
Cash, cash equivalents and restricted cash, end of period 83,438 73,166 49,178 43,017 73,782

Reconciliation of cash, cash equivalents and restricted cash

Cash and cash equivalents 67,115 54,200 42,937 27,511 27,553
Restricted cash included in other assets 16,323 18,966 6,241 15,506 46,229
Total cash, cash equivalents and restricted cash 83,438 73,166 49,178 43,017 73,782

Supplemental disclosure of noncash investing and financing activities

Accrued tenant improvements included in real estate investments 15,924 23,911 25,884 34,769 20,522
Net real estate assets surrendered to lender NA 0 0 12,573 0
Seller financing provided to purchasers of real estate sold 0 17,479 0 0 NA
Acquisition of collateral property securing a mortgage note receivable 0 0 2,000 0 13,574
Accrued financing costs 15 NA NA NA NA
Non-recourse debt obligation assumed by purchaser of real estate NA 0 0 20,845 0
Non-recourse debt forgiven by lender in exchange for collateral assets NA 0 0 12,874 0
Accrued financing and stock issuance costs 750 105 101 211 322

Supplemental disclosure of cash flow information

Cash paid during the period for interest, net of amounts capitalized 73,636 95,968 109,898 115,425 108,295
Cash paid during the period for income and franchise taxes 1,005 1,194 1,666 1,930 2,114
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