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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows — Operating Activities    
Net Income $ 171,924 $ 181,906
Adjustments to net income:    
Depreciation and amortization, including intangible assets and deferred financing costs 232,111 230,234
Net realized and unrealized losses on extinguishment of debt, equity securities, foreign currency transactions, and other 39,781 8,221
Gain on sale of real estate, net (29,212) (11,751)
Amortization of rent-related intangibles and deferred rental revenue 28,554 26,820
Straight-line rent adjustments (21,986) (24,826)
Stock-based compensation expense 14,429 5,579
Losses from equity method investments 9,889 11,807
Asset management revenue received in shares of Managed REITs (6,292) (10,607)
Change in allowance for credit losses (6,249) 1,906
Distributions of earnings from equity method investments 3,730 3,121
Deferred income tax benefit (2,351) (44,529)
Impairment charges 0 19,420
Net changes in other operating assets and liabilities (35,581) (57,250)
Net Cash Provided by Operating Activities 398,747 340,051
Cash Flows — Investing Activities    
Purchases of real estate (837,003) (265,829)
Proceeds from sales of real estate 98,433 105,115
Capital contributions to equity method investments (88,692) (595)
Funding for real estate construction, redevelopments, and other capital expenditures on real estate (54,381) (117,420)
Proceeds from repayment of short-term loans to affiliates 37,048 51,702
Funding of short-term loans to affiliates (31,000) (5,433)
Other investing activities, net (21,913) 8,626
Return of capital from equity method investments 11,627 10,463
Proceeds from repayment of loans receivable 0 11,000
Net Cash Used in Investing Activities (885,881) (202,371)
Cash Flows — Financing Activities    
Proceeds from Unsecured Revolving Credit Facility 1,088,217 519,849
Proceeds from issuance of Senior Unsecured Notes 1,038,391 0
Repayments of Unsecured Revolving Credit Facility (893,104) (692,477)
Redemption of Senior Unsecured Notes (617,442) 0
Prepayments of mortgage principal (426,907) 0
Dividends paid (372,585) (360,616)
Proceeds from shares issued under forward sale agreements, net of selling costs 309,864 99,887
Proceeds from shares issued under ATM Program, net of selling costs 302,512 0
Scheduled payments of mortgage principal (20,239) (36,598)
Payment of financing costs (8,176) (9,993)
Payments for withholding taxes upon delivery of equity-based awards (3,777) (5,272)
Other financing activities, net 2,250 7,921
Distributions paid to noncontrolling interests (56) (5,231)
Proceeds from Unsecured Term Loans 0 298,974
Net Cash Provided by (Used in) Financing Activities 398,948 (183,556)
Change in Cash and Cash Equivalents and Restricted Cash During the Period    
Effect of exchange rate changes on cash and cash equivalents and restricted cash (5,390) (1,650)
Net decrease in cash and cash equivalents and restricted cash (93,576) (47,526)
Cash and cash equivalents and restricted cash, beginning of period 311,779 251,518
Cash and cash equivalents and restricted cash, end of period $ 218,203 $ 203,992