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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (15,774) $ 179,926 $ (134,307)
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:      
Depreciation and amortization 239,280 271,131 270,147
Net amortization of debt premiums, discounts and issuance costs 8,658 13,408 8,022
Straight line rental income (8,916) (5,846) (6,069)
Amortization of acquired real estate leases 245 (7,211) (7,405)
Loss on modification or early extinguishment of debt 30,043 2,410 51
Gain on lease termination 0 0 (22,896)
Impairment of assets 0 (174) 106,972
Gain on sale of properties (321,862) (492,272) (6,487)
Gains and losses on equity securities, net 25,660 42,232 (34,106)
Other non-cash adjustments, net (2,038) (1,811) (2,203)
Unconsolidated joint venture distributions 8,769 0 0
Equity in net earnings of investees (6,055) 0 0
Change in assets and liabilities:      
Deferred leasing costs, net (7,874) (20,701) (7,672)
Other assets 10,946 (51,201) (27,858)
Accrued interest (428) 7,654 (305)
Other liabilities (1,007) (868) 22,660
Net cash (used in) provided by operating activities (40,353) (63,323) 158,544
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate acquisitions and deposits (75,105) 0 (2,526)
Real estate improvements (299,387) (227,605) (185,585)
Proceeds from sale of properties, net 822 103,257 147,388
Proceeds from sale of properties to joint venture, net 638,488 0 0
Proceeds from sale of interest in joint venture, net 108,424 367,033 0
Proceeds from insurance recoveries 14,466 0 0
Distributions in excess of earnings from Affiliates Insurance Company 0 11 287
Net cash provided by (used in) investing activities 387,708 242,696 (40,436)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior unsecured notes, net 0 492,500 985,000
Proceeds from borrowings on credit facility 0 800,000 430,500
Repayments of borrowings on credit facility (100,000) 0 (968,000)
Redemption of senior unsecured notes (500,000) (300,000) (200,000)
Repayment of term loan 0 (200,000) (250,000)
Repayment of other debt (39,067) (3,159) (5,941)
Loss on early extinguishment of debt settled in cash (24,375) 0 (376)
Payment of debt issuance costs (2,817) (10,347) (5,378)
Repurchase of common shares (171) (383) (171)
Distributions to noncontrolling interest 0 (22,348) (22,292)
Distributions to shareholders (9,568) (9,540) (42,825)
Net cash (used in) provided by financing activities (675,998) 746,723 (79,483)
(Decrease) increase in cash and cash equivalents and restricted cash (328,643) 926,096 38,625
Cash and cash equivalents and restricted cash at end of period 688,302 1,016,945 90,849
Cash and cash equivalents and restricted cash at beginning of period $ 1,016,945 $ 90,849 $ 52,224