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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (12,540) $ 18,912
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 300,255 282,119
Amortization of deferred revenue and lease intangibles, net (13,645) (14,913)
Other non-cash amortization 7,298 4,154
Allowance on loans receivable and investments (68) (8,064)
Stock-based compensation 16,284 15,060
Straight-lining of rental income (2,612) (445)
Loss on extinguishment of debt, net 252 0
Gain on real estate dispositions (341) (10,201)
Income tax benefit (4,696) (4,299)
Loss from unconsolidated entities 8,383 5,623
Distributions from unconsolidated entities 4,576 5,472
Other (5,422) 1,526
Changes in operating assets and liabilities:    
Increase in other assets (25,839) (16,885)
Increase (decrease) in accrued interest 6,096 (17,006)
Decrease in accounts payable and other liabilities (11,533) (18,236)
Net cash provided by operating activities 266,448 242,817
Cash flows from investing activities:    
Net investment in real estate property (36,092) 0
Investment in loans receivable (5,232) (289)
Proceeds from real estate disposals 40,016 46,417
Proceeds from loans receivable 268 44,354
Development project expenditures (84,737) (69,079)
Capital expenditures (49,387) (43,577)
Investment in unconsolidated entities (11,179) (35,792)
Insurance proceeds for property damage claims 1,756 1,686
Net cash used in investing activities (144,587) (56,280)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities (5,708) 14,340
Net change in borrowings under commercial paper program 0 22,164
Proceeds from debt 555,489 343,900
Repayment of debt (419,310) (343,876)
Purchase of noncontrolling interests 0 (110)
Payment of deferred financing costs (5,283) (4,027)
Issuance of common stock, net 77,430 0
Cash distribution to common stockholders (182,854) (181,422)
Cash distribution to redeemable OP unitholders (1,555) (1,539)
Cash issued for redemption of OP Units (1,064) (655)
Contributions from noncontrolling interests 3,534 2,973
Distributions to noncontrolling interests (4,473) (2,566)
Proceeds from stock option exercises 0 1,736
Other (11,382) (13,025)
Net cash provided by (used in) financing activities 4,824 (162,107)
Net increase in cash, cash equivalents and restricted cash 126,685 24,430
Effect of foreign currency translation (1,738) 106
Cash, cash equivalents and restricted cash at beginning of period 563,462 170,745
Cash, cash equivalents and restricted cash at end of period 688,409 195,281
Assets acquired and liabilities assumed from acquisitions:    
Real estate investments 942 0
Other assets 83 0
Other liabilities 632 0
Deferred income tax liability $ 393 $ 0