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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 123,978 $ (610)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 586,808 572,139
Amortization of deferred revenue and lease intangibles, net (29,592) (33,491)
Other non-cash amortization 8,969 6,412
Allowance on loans receivable and investments (20,129) (116)
Stock-based compensation 20,389 22,601
Straight-lining of rental income (1,884) (7,559)
(Gain) loss on extinguishment of debt, net (6,801) 7
Gain on real estate dispositions (11,606) (2,421)
Income tax benefit (15,813) (11,184)
(Gain) loss and other from unconsolidated entities (25,618) 5,322
Gain on foreclosure of real estate (29,127) 0
Distributions from unconsolidated entities 9,682 10,719
Other (14,279) 25,128
Changes in operating assets and liabilities:    
Increase (Decrease) in Other Operating Assets (17,341) (32,622)
Increase (Decrease) in Interest Payable, Net (3,524) (2,008)
Increase (Decrease) in Accounts Payable and Accrued Liabilities (19,468) 315
Net cash provided by operating activities 554,644 552,632
Cash flows from investing activities:    
Net investment in real estate property (977) (388,295)
Investment in loans receivable (589) (5,225)
Proceeds from real estate disposals 64,405 6,171
Proceeds from loans receivable 43,822 487
Proceeds from sale of interest in unconsolidated entities 50,054 0
Net cash assumed in foreclosure of real estate 11,615 0
Development project expenditures (144,809) (81,878)
Capital expenditures (96,271) (91,004)
Distributions from unconsolidated entities 0 25,652
Investment in unconsolidated entities (64,247) (33,086)
Insurance proceeds for property damage claims 9,390 7,918
Net cash used in investing activities (127,607) (559,260)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities 8,293 (7,822)
Net change in borrowings under commercial paper program (267,414) 55,184
Proceeds from debt 1,748,532 706,915
Repayment of debt (1,489,112) (394,395)
Purchase of noncontrolling interests (110) (170)
Payment of deferred financing costs (27,356) (4,126)
Issuance of common stock, net 25,007 0
Cash distribution to common stockholders (361,703) (360,098)
Cash distribution to redeemable OP unitholders (3,089) (3,072)
Cash issued for redemption of OP Units (655) 0
Contributions from noncontrolling interests 7,979 39
Distributions to noncontrolling interests (17,388) (7,873)
Proceeds from stock option exercises 1,736 8,691
Other (12,805) (6,219)
Net cash used in financing activities (388,085) (12,946)
Net increase (decrease) in cash, cash equivalents and restricted cash 38,952 (19,574)
Effect of foreign currency translation 650 (992)
Cash, cash equivalents and restricted cash at beginning of period 170,745 196,597
Cash, cash equivalents and restricted cash at end of period 210,347 176,031
Assets acquired and liabilities assumed from acquisitions and other:    
Real estate investments 0 3,176
Other assets 7,873 362
Other liabilities 9,000 2,944
Deferred income tax liability 12,382 594
Settlement of loan receivable 486,082 0
Real estate received in settlement of loan receivable 1,566,395 0
Assumption of debt related to real estate owned $ 1,016,804 $ 0