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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 364,598 $ 319,318 $ 316,477
Adjustments to net income:      
Depreciation and amortization 539,780 498,788 449,943
Loss on extinguishment of debt 0 42,426 0
Amortization of share-based compensation 27,267 13,946 12,007
Non-cash revenue adjustments (7,835) (3,927) (10,154)
Amortization of net premiums on mortgages payable (1,520) (466) (3,414)
Amortization of net (premiums) discounts on notes payable (1,256) 884 1,470
Amortization of deferred financing costs 9,021 8,274 7,434
Gain on interest rate swaps (2,733) (3,250) (1,639)
Gain on sales of real estate (24,643) (40,898) (21,979)
Provisions for impairment on real estate 26,269 14,751 20,664
Change in assets and liabilities      
Accounts receivable and other assets (6,901) (92) (5,414)
Accounts payable, accrued expenses and other liabilities 18,695 26,096 34,468
Net cash provided by operating activities 940,742 875,850 799,863
CASH FLOWS FROM INVESTING ACTIVITIES      
Investment in real estate (1,769,335) (1,413,270) (1,798,892)
Improvements to real estate, including leasing costs (25,350) (15,247) (13,426)
Proceeds from sales of real estate 142,286 166,976 99,096
Insurance and other proceeds received 7,648 14,411 0
Collection of loans receivable 5,267 123 12,515
Non-refundable escrow deposits for pending acquisitions (200) (7,500) 0
Net cash used in investing activities (1,639,684) (1,254,507) (1,700,707)
CASH FLOWS FROM FINANCING ACTIVITIES      
Cash distributions to common stockholders (761,582) (689,294) (610,516)
Cash dividends to preferred stockholders 0 (6,168) (27,080)
Borrowings on line of credit 1,774,000 1,465,000 3,879,000
Payments on line of credit (1,632,000) (2,475,000) (2,997,000)
Principal payment on term loan (125,866) 0 0
Proceeds from notes and bonds payable issued 497,500 2,033,041 592,026
Principal payment on notes payable (350,000) (725,000) (275,000)
Proceeds from term loan 250,000 0 0
Proceeds from mortgages payable 0 0 9,963
Payments upon extinguishment of debt 0 (41,643) 0
Principal payments on mortgages payable (21,905) (139,725) (231,743)
Redemption of preferred stock 0 (408,750) 0
Proceeds from common stock offerings, net 0 704,938 383,572
Proceeds from dividend reinvestment and stock purchase plan 9,114 69,931 10,252
Proceeds from At-the-Market (ATM) program 1,125,364 621,697 166,781
Redemption of common units (2,752) 0 (9,026)
Distributions to noncontrolling interests (1,930) (2,043) (12,725)
Debt issuance costs (18,685) (17,510) (5,274)
Other items, including shares withheld upon vesting (33,387) (14,356) (7,038)
Net cash provided by financing activities 707,871 375,118 866,192
Net increase (decrease) in cash, cash equivalents and restricted cash 8,929 (3,539) (34,652)
Cash, cash equivalents and restricted cash, beginning of period 12,142 15,681 50,333
Cash, cash equivalents and restricted cash, end of period $ 21,071 $ 12,142 $ 15,681