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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 18,912 $ 40,592
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 282,119 289,064
Amortization of deferred revenue and lease intangibles, net (14,913) (17,401)
Other non-cash amortization 4,154 3,109
Allowance on loans receivable and investments (8,064) (54)
Stock-based compensation 15,060 15,796
Straight-lining of rental income (445) (3,841)
Gain on real estate dispositions (10,201) (2,455)
Income tax benefit (4,299) (5,805)
Loss and other from unconsolidated entities 5,623 4,269
Distributions from unconsolidated entities 5,472 4,356
Other 1,526 (24,324)
Changes in operating assets and liabilities:    
Increase in other assets (16,885) (18,177)
Decrease in accrued interest (17,006) (13,201)
(Decrease) increase in accounts payable and other liabilities (18,236) 2,625
Net cash provided by operating activities 242,817 274,553
Cash flows from investing activities:    
Net investment in real estate property 0 (343,792)
Investment in loans receivable (289) (5,117)
Proceeds from real estate disposals 46,417 6,124
Proceeds from loans receivable 44,354 177
Development project expenditures (69,079) (37,591)
Capital expenditures (43,577) (36,728)
Investment in unconsolidated entities (35,792) (23,790)
Insurance proceeds for property damage claims 1,686 3,391
Net cash used in investing activities (56,280) (437,326)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities 14,340 (9,867)
Net change in borrowings under commercial paper program 22,164 356,674
Proceeds from debt 343,900 70,029
Repayment of debt (343,876) (65,000)
Purchase of noncontrolling interests (110) (170)
Payment of deferred financing costs (4,027) (427)
Cash distribution to common stockholders (181,422) (180,021)
Cash distribution to redeemable OP unitholders (1,539) (1,534)
Cash issued for redemption of OP Units (655) 0
Contributions from noncontrolling interests 2,973 19
Distributions to noncontrolling interests (2,566) (3,983)
Proceeds from stock option exercises 1,736 5,794
Other (13,025) (6,132)
Net cash (used in) provided by financing activities (162,107) 165,382
Net increase in cash, cash equivalents and restricted cash 24,430 2,609
Effect of foreign currency translation 106 241
Cash, cash equivalents and restricted cash at beginning of period 170,745 196,597
Cash, cash equivalents and restricted cash at end of period 195,281 199,447
Assets acquired and liabilities assumed from acquisitions and other:    
Real estate investments 0 3,171
Other assets 0 47
Other liabilities 0 2,624
Deferred income tax liability $ 0 $ 594