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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 206,650 $ 180,012
Adjustments to net income:    
Depreciation and amortization 287,943 265,102
Amortization of share-based compensation 7,291 8,657
Non-cash revenue adjustments (4,351) (4,029)
Amortization of net premiums on mortgages payable (708) (813)
Amortization of deferred financing costs 3,960 3,469
Loss (gain) on interest rate swaps 1,364 (2,799)
Foreign currency and derivative gains, net (136) 0
Gain on sales of real estate (14,154) (11,005)
Provisions for impairment on real estate 17,733 18,172
Change in assets and liabilities    
Accounts receivable and other assets (11,250) 2,785
Accounts payable, accrued expenses and other liabilities (4,679) 17,718
Net cash provided by operating activities 489,663 477,269
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (1,604,575) (829,818)
Improvements to real estate, including leasing costs (11,767) (17,017)
Proceeds from sales of real estate 51,052 47,526
Insurance proceeds received 0 3,836
Collection of loans receivable 0 5,267
Non-refundable escrow deposits (9,619) 0
Net cash used in investing activities (1,574,909) (790,206)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (413,410) (373,044)
Borrowings on line of credit 1,404,000 1,140,000
Payments on line of credit (1,648,000) (716,000)
Principal payment on term loan (70,000) (125,866)
Proceeds from notes and bonds payable issued 895,774 497,500
Principal payment on notes payable 0 (350,000)
Principal payments on mortgages payable (2,492) (13,447)
Proceeds from common stock offerings, net 845,061 0
Proceeds from dividend reinvestment and stock purchase plan 4,098 4,806
Proceeds from At-the-Market (ATM) program, net 122,155 297,983
Redemption of common units (20,225) 0
Distributions to noncontrolling interests (635) (758)
Debt issuance costs (7,331) (4,436)
Other items, including shares withheld upon vesting (4,195) (11,143)
Net cash provided by financing activities 1,104,800 345,595
Effect of exchange rate changes on cash and cash equivalents (733) 0
Net increase in cash, cash equivalents and restricted cash 18,821 32,658
Cash, cash equivalents and restricted cash, beginning of period 21,071 12,142
Cash, cash equivalents and restricted cash, end of period $ 39,892 $ 44,800