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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 202,243 $ 266,983 $ 262,968
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Gain on Extinguishment of Debt 0 0 (977)
asset impairment charges cont and discops 23,639 27,283 10,195
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property 36,053 3,037 41,942
Gain on insurance recovery 0 0 (606)
Deferred income tax benefit (expense) (4,115) 573 812
gain on sale of investment in direct financing lease 0 5,514 0
write off of deferred debt issuance cost cont and disc 38,450 31,958 1,549
Equity in loss (income) from joint ventures 381 22 (72)
Distributions from joint ventures 112 567 442
depreciation and amort cont and discops 171,763 153,430 132,946
Amortization of deferred financing costs 6,192 5,797 6,167
Amortization of above/below market leases and tenant allowances, net (343) (581) (107)
Share-based compensation expense to management and trustees 13,180 15,111 14,142
Share-based compensation expense included in severance expense 580 3,218 0
Increase (Decrease) in Operating Lease Assets and Liabilities, Net 1,194 0 0
Mortgage notes accrued interest receivable (381) (517) 467
Accounts receivable (1,385) (22,300) 8,866
Increase in direct financing lease receivable (186) (563) (1,208)
Other assets (1,301) (1,055) (1,691)
Accounts payable and accrued liabilities 27,540 4,979 260
Increase (Decrease) in Deferred Revenue (1,980) 7,974 6,061
Net cash provided by operating activities 439,530 484,328 398,272
Investing activities:      
Acquisition of rental properties and other assets (500,629) (187,460) (397,556)
Proceeds from Sale of Real Estate 216,020 22,134 191,569
Proceeds from sale of public charter school portfolio 449,555 0 0
Investment in unconsolidated joint ventures 325 29,473 0
Proceeds from settlement of derivative 0 (30,796) 0
Investment in mortgage notes receivable (142,456) (36,105) (133,697)
Proceeds from mortgage note receivable paydown 217,459 335,168 21,784
Investment in promissory notes receivable 12,271 7,863 1,928
Proceeds from promissory note receivable paydown 3,738 7,500 1,599
Proceeds from insurance recovery 0 0 606
Proceeds from Sale of Lease Receivables 0 43,447 0
Additions to properties under development (134,586) (274,956) (384,449)
Net cash provided (used) by investing activities 96,505 (96,812) (702,072)
Financing activities:      
Proceeds from Issuance of Long-term Debt 962,000 908,000 1,371,000
Principal payments on long-term debt (866,735) (949,684) (823,288)
Deferred financing fees paid (9,386) (8,642) (14,318)
Costs associated with loan refinancing or payoff (cash portion) (36,918) (28,650) (7)
Net proceeds from issuance of common shares 305,556 956 99,069
Proceeds from Issuance of Preferred Stock and Preference Stock 0 0 144,490
Payments for Repurchase of Redeemable Preferred Stock 0 0 125,025
Payment, Tax Withholding, Share-based Payment Arrangement (732) (62) (5)
Purchase of common shares for treasury (9,691) (7,156) (6,729)
Dividends paid to shareholders (367,317) (342,315) (311,721)
Net cash (used) provided by financing activities (23,223) (427,553) 333,466
Effect of exchange rate changes on cash 121 (442) 241
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 531,440 18,507 58,986
Restricted Cash and Cash Equivalents 2,677 12,635 17,069
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 512,933 (40,479) 29,907
Cash and cash equivalents at beginning of the year 5,872 41,917 19,335
Cash and cash equivalents at end of the year 528,763 5,872 41,917
Supplemental schedule of non-cash activity:      
Transfer of property under development to rental property 354,568 228,572 408,593
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses 17,590 18,252 24,062
Noncash or Part Noncash Acquisition, Value of Assets Acquired 0 155,185 9,237
Conversion of rental property to mortgage note receivable 27,423 0 11,897
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 229,620 0 0
Operating Lease, Cost 253,486 0 0
Straight-Line Rent Receivable 73,382 [1] 73,332  
Other Real Estate, Additions 14,000 0 0
Noncash or Part Noncash Acquisition, Debt Assumed 18,585 0 0
Stock Issued During Period, Value, Acquisitions 0 0 657,473
Assumption of liabilities net of accounts receivable for acquisition 0 0 12,083
Transfer of investment in a direct financing lease to rental properties 0 0 35,807
Supplemental disclosure of cash flow information:      
Interest Paid, Excluding Capitalized Interest, Operating Activities 143,530 145,559 136,345
Cash paid during the year for income taxes 1,842 1,363 1,499
Interest cost capitalized 5,326 9,903 9,879
Change in accrued capital expenditures (35,155) 32,993 333
Ground Lease Arrangement [Member]      
Supplemental schedule of non-cash activity:      
Straight-Line Rent Receivable $ 24,454 $ 0 $ 0
[1]
(1) At December 31, 2019, includes $24.6 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.