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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 24,663 $ 14,162
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 72,707 69,901
Amortization of intangibles 44,332 51,150
Amortization of deferred financing costs 7,254 7,264
Amortization of mortgage discounts 714 450
Amortization of below-market lease liabilities (2,733) (3,154)
Amortization of above-market lease assets 3,048 2,737
Amortization related to right-of-use assets 639 715
Amortization of lease incentives and commissions 938 511
Unbilled straight-line rent (7,509) (4,085)
Termination fee receipt 9,003 (2,221)
Equity-based compensation 9,217 8,305
Unrealized gains on foreign currency transactions, derivatives, and other (21,263) (5,051)
Unrealized income on undesignated foreign currency advances and other hedge ineffectiveness (2,439) 0
Loss on extinguishment of debt 383 0
Loss (gain) on disposition of real estate investments (205) (1,188)
Lease incentive and commission payments (5,122) (7,659)
Impairment charges 17,057 7,906
Changes in operating assets and liabilities, net:    
Prepaid expenses and other assets (4) (4,862)
Deferred tax assets 0 47
Accounts payable and accrued expenses 990 6,191
Prepaid rent 7,746 17,744
Deferred tax liability 0 (800)
Taxes payable 190 0
Net cash provided by operating activities 159,606 158,063
Cash flows from investing activities:    
Investment in real estate and real estate related assets (33,894) (302,988)
Deposits for real estate investments 0 (2,000)
Capital expenditures (19,155) (5,976)
Proceeds from disposition of real estate investment 5,830 1,188
Net cash used in investing activities (47,219) (309,776)
Cash flows from financing activities:    
Borrowings under revolving credit facilities 145,078 87,696
Repayments on revolving credit facilities 0 (78,437)
Proceeds from mortgage notes payable 0 137,567
Principal payments on mortgage notes payable (58,185) (26,269)
Common shares repurchased upon vesting of restricted stock (687) (156)
Payments of financing costs (10,116) (2,175)
Dividends paid on Common Stock (125,180) (114,654)
Distributions to non-controlling interest holders (300) (10,899)
Net cash (used in) provided by financing activities (58,936) 207,817
Net change in cash, cash equivalents and restricted cash 53,451 56,104
Effect of exchange rate changes on cash (12,114) (2,738)
Cash, cash equivalents and restricted cash, beginning of period 93,311 125,693
Cash, cash equivalents and restricted cash, end of period 134,648 179,059
Cash and cash equivalents, end of period 128,014 176,393
Restricted cash, end of period 6,634 2,666
Cash, cash equivalents and restricted cash, end of period 134,648 179,059
Non-Cash Financing Activity:    
Term Loan converted to Revolving Credit Facility 268,511 0
Common Stock    
Cash flows from financing activities:    
Common Stock issuance proceeds, net 951 214,081
Series B Preferred Stock    
Cash flows from financing activities:    
Series B Preferred Stock issuance proceeds, net 4,707 15,878
Dividends paid on Preferred Stock (5,961) (5,572)
Series A Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock $ (9,243) $ (9,243)