XML 21 R8.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:          
Net income $ 62,774 $ 13,737 $ 95,664 $ 329,232  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     878,444 847,797  
Amortization of deferred revenue and lease intangibles, net     (71,620) (25,343)  
Other non-cash amortization     14,686 15,211  
Allowance on loans receivable and investments (60) 4,999 (9,021) 34,654  
Stock-based compensation     26,165 17,322  
Straight-lining of rental income     (10,166) 107,134  
Loss on extinguishment of debt, net     56,808 7,386  
Gain on real estate dispositions (150,292) (12,622) (194,083) (240,101)  
Gain on real estate loan investments     (2,006) (167)  
Income tax expense (benefit)     4,656 (99,702)  
(Income) loss from unconsolidated entities     (7,279) 15,869  
Distributions from unconsolidated entities     9,466 2,960  
Other     (830) 15,615  
Changes in operating assets and liabilities:          
Increase in other assets     (49,051) (68,228)  
Decrease in accrued interest     (22,414) (12,975)  
Increase in accounts payable and other liabilities     40,896 207,749  
Net cash provided by operating activities     760,315 1,154,413  
Cash flows from investing activities:          
Net investment in real estate property     (1,103,210) (77,625)  
Investment in loans receivable     (384) (113,147)  
Proceeds from real estate disposals     497,303 682,604  
Proceeds from loans receivable     302,700 106,966  
Development project expenditures     (204,649) (309,967)  
Capital expenditures     (119,311) (94,407)  
Distributions from unconsolidated entities     17,847 0  
Investment in unconsolidated entities     (107,140) (7,832)  
Insurance proceeds for property damage claims     501 33  
Net cash (used in) provided by investing activities     (716,343) 186,625  
Cash flows from financing activities:          
Net change in borrowings under revolving credit facilities     (144,065) (74,144)  
Net change in borrowings under commercial paper program     369,943 (565,524)  
Proceeds from debt     914,879 657,557  
Repayment of debt     (1,499,036) (127,528)  
Purchase of noncontrolling interests     (11,485) 0  
Payment of deferred financing costs     (23,608) (7,564)  
Issuance of common stock, net     617,438 36,395  
Cash distribution to common stockholders     (506,972) (760,363)  
Cash distribution to redeemable OP unitholders     (5,400) (5,954)  
Cash issued for redemption of OP Units     (96) (575)  
Contributions from noncontrolling interests     35 1,138  
Distributions to noncontrolling interests     (11,785) (9,666)  
Proceeds from stock option exercises     5,668 3,518  
Other     (5,128) (4,989)  
Net cash used in financing activities     (299,612) (857,699)  
Net (decrease) increase in cash, cash equivalents and restricted cash     (255,640) 483,339  
Effect of foreign currency translation     522 (951)  
Cash, cash equivalents and restricted cash at beginning of period     451,640 146,102 $ 146,102
Cash, cash equivalents and restricted cash at end of period $ 196,522 $ 628,490 196,522 628,490 $ 451,640
Assets and liabilities assumed from acquisitions and other:          
Real estate investments     1,317,617 169,484  
Other assets     16,132 1,224  
Debt     484,073 55,368  
Other liabilities     97,960 2,707  
Deferred income tax liability     0 337  
Noncontrolling interests     468 20,259  
Partners' Capital Account, Acquisitions     751,248 0  
Redemption of OP Units     $ 76 $ 0