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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows — Operating Activities    
Net income $ 114,035 $ 105,505
Adjustments to net income:    
Depreciation and amortization, including intangible assets and deferred financing costs 152,136 134,129
Impairment charges 35,429 3,274
Distributions of earnings from equity investments 32,365 24,578
Equity in earnings of equity method investments in the Managed Programs and real estate (31,440) (25,995)
Straight-line rent, amortization of rent-related intangibles, and deferred rental revenue (27,381) 19,793
Gain on sale of real estate (18,944) (1,201)
Deferred income taxes (17,549) (3,464)
Management income received in shares of Managed REITs and other (13,973) (10,699)
Stock-based compensation expense 13,815 12,098
Allowance for credit losses 7,064 0
Realized and unrealized (gain) loss on foreign currency transactions, derivatives, extinguishment of debt, and other (2,202) 1,452
Changes in assets and liabilities:    
Deferred acquisition revenue received 11,833 14,084
Payments for withholding taxes upon delivery of equity-based awards and exercises of stock options (8,450) (15,402)
Increase in structuring revenue receivable (4,298) (17,896)
Net changes in other operating assets and liabilities (6,226) (24,204)
Net Cash Provided by Operating Activities 236,214 216,052
Cash Flows — Investing Activities    
Purchases of real estate (385,835) (435,915)
Proceeds from sale of real estate 200,575 24,016
Funding of short-term loans to affiliates (20,000) (122,447)
Proceeds from repayment of short-term loans to affiliates 20,000 0
Funding for real estate construction and expansion (18,430) (21,638)
Investment in assets of affiliate (Note 2) (14,861) 0
Change in investing restricted cash 6,343 31,692
Capital expenditures on owned real estate (4,553) (2,026)
Return of capital from equity investments 2,174 3,383
Capital expenditures on corporate assets (803) (2,312)
Other investing activities, net 475 977
Proceeds from repayments of note receivable 293 9,964
Capital contributions to equity investments in real estate (6) (8,643)
Net Cash Used in Investing Activities (214,628) (522,949)
Cash Flows — Financing Activities    
Proceeds from Senior Unsecured Credit Facility 575,568 484,122
Repayments of Senior Unsecured Credit Facility (274,967) (913,868)
Distributions paid (205,922) (200,915)
Prepayments of mortgage principal (67,496) 0
Scheduled payments of mortgage principal (43,905) (36,095)
Proceeds from shares issued under “at-the-market” offering, net of selling costs 18,890 0
Distributions paid to noncontrolling interests (9,328) (6,652)
Change in financing restricted cash 807 (342)
Payment of financing costs (255) (10,886)
Proceeds from exercise of stock options and employee purchases under the employee share purchase plan 136 256
Contributions from noncontrolling interests 112 483
Proceeds from issuance of Senior Unsecured Notes 0 1,022,303
Proceeds from mortgage financing 0 17,778
Windfall tax benefit associated with stock-based compensation awards 0 6,524
Net Cash (Used in) Provided by Financing Activities (6,360) 362,708
Change in Cash and Cash Equivalents During the Period    
Effect of exchange rate changes on cash 852 (20,865)
Net increase in cash and cash equivalents 16,078 34,946
Cash and cash equivalents, beginning of period 157,227 198,683
Cash and cash equivalents, end of period $ 173,305 $ 233,629