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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ (6,157) $ 15,765 $ (111,233)
Adjustments to reconcile net income (loss) to cash flows from operating activities:      
Provision for (recovery of) loan losses 36,567 (1,714) 5,489
Impairment of assets 10,524 34,634 14,507
Loss on transfer of interest to unconsolidated subsidiary 0 0 7,373
Depreciation and amortization 65,247 73,571 71,530
Payments for withholding taxes upon vesting of stock-based compensation (1,718) (21,250) (14,098)
Non-cash expense for stock-based compensation 12,013 13,314 19,261
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 17,352 16,891 20,915
Amortization of discounts/premiums and deferred interest on loans, net (82,782) (59,747) (37,383)
(Gain) loss from sales of loans 0 (19,067) 596
Earnings from equity method investments (32,153) (94,905) (41,520)
Distributions from operations of other investments 29,999 80,116 17,252
Deferred operating lease income (7,950) (8,492) (12,077)
Income from sales of real estate and development revenue in excess of cost of sales (93,816) (89,943) (86,658)
Gain from discontinued operations 0 0 (22,233)
Loss on early extinguishment of debt, net 281 25,369 19,655
Debt discount and prepayment penalty on repayments and repurchases of debt obligations (578) (14,888) (24,001)
Other operating activities, net 42,607 31,935 6,917
Changes in assets and liabilities:      
Changes in accrued interest and operating lease income receivable, net (2,068) (1,426) 2,310
Changes in deferred expenses and other assets, net 2,631 4,601 (23,012)
Changes in accounts payable, accrued expenses and other liabilities, net (17,112) 7,245 5,945
Cash flows used in operating activities (59,947) (10,342) (180,465)
Cash flows from investing activities:      
Originations and fundings of loans receivable, net (478,822) (622,428) (257,600)
Capital expenditures on real estate assets (81,525) (68,464) (73,057)
Capital expenditures on land and development assets (88,219) (74,323) (36,346)
Acquisitions of real estate assets 0 (4,666) (102,364)
Repayments of and principal collections on loans receivable and other lending investments, net 273,454 512,528 613,615
Net proceeds from sales of loans receivable 6,655 65,438 81,614
Net proceeds from sales of real estate 362,530 404,336 437,817
Net proceeds from sale of other investments 0 0 220,281
Distributions from other investments 119,854 61,031 36,918
Contributions to other investments (11,531) (159,424) (12,784)
Changes in restricted cash held in connection with investing activities (7,550) 29,283 (19,388)
Other investing activities, net 7,581 1,291 4,741
Cash flows from investing activities 184,028 159,793 893,447
Cash flows from financing activities:      
Borrowings from debt obligations 549,000 1,349,822 1,444,565
Repayments of debt obligations (432,383) (1,471,174) (1,984,102)
Proceeds from loan participations payable 138,075 0 0
Preferred dividends paid (51,320) (51,320) (49,020)
Proceeds from issuance of preferred stock 0 0 193,510
Repurchase of stock (69,511) 0 (20,985)
Redemption of HPUs (9,811) 0 0
Payments for deferred financing costs (2,255) (19,595) (17,539)
Other financing activities, net (7,314) 1,309 (22,187)
Cash flows from (used in) financing activities 114,481 (190,958) (455,758)
Effect of exchange rate changes on cash 478 0 0
Changes in cash and cash equivalents 239,040 (41,507) 257,224
Cash and cash equivalents at beginning of period 472,061 513,568 256,344
Cash and cash equivalents at end of period 711,101 472,061 513,568
Cash paid during the period for interest, net of amount capitalized 207,972 194,605 237,457
Land      
Adjustments to reconcile net income (loss) to cash flows from operating activities:      
Income from sales of real estate and development revenue in excess of cost of sales (32,834) (2,351) 0
Operating Segments | Land      
Adjustments to reconcile net income (loss) to cash flows from operating activities:      
Provision for (recovery of) loan losses 0 0 0
Loss on transfer of interest to unconsolidated subsidiary     7,373
Earnings from equity method investments (16,683) (14,966) 5,331
Income from sales of real estate and development revenue in excess of cost of sales 0 0 (4,055)
Gain from discontinued operations     0
Cash flows from investing activities:      
Net proceeds from sales of land and development assets $ 81,601 $ 15,191 $ 0