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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 75,343 $ 149,423
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of real estate, in-place lease, and other intangibles 177,733 157,538
Amortization of stock-based compensation 4,721 4,364
Amortization of deferred financing costs 2,689 2,213
Straight-line rents (11,158) (9,135)
Amortization of nonrefundable entrance fees and above/below market lease intangibles (24,725) (23,764)
Equity loss (income) from unconsolidated joint ventures (2,148) (1,008)
Distributions of earnings from unconsolidated joint ventures 237 237
Loss (gain) on sale of real estate under direct financing leases (22,693) 0
Deferred income tax expense (benefit) (79) (1,148)
Impairments and loan loss reserves (recoveries), net 132 3,242
Loss (gain) on debt extinguishments 0 164,292
Loss (gain) on sales of real estate, net (3,785) (259,662)
Loss (gain) upon change of control, net 0 (1,042)
Casualty-related loss (recoveries), net 0 859
Other non-cash items (1,593) (726)
Changes in:    
Decrease (increase) in accounts receivable and other assets, net (4,144) 11,567
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue 3,653 (74,524)
Net cash provided by (used in) operating activities 194,183 122,726
Cash flows from investing activities:    
Acquisitions of real estate (134,067) (14,914)
Development, redevelopment, and other major improvements of real estate (178,285) (135,339)
Leasing costs, tenant improvements, and recurring capital expenditures (22,839) (20,710)
Proceeds from sales of real estate, net 13,265 937,492
Contributions to unconsolidated joint ventures (1,486) (5,924)
Distributions in excess of earnings from unconsolidated joint ventures 3,875 10,825
Proceeds from sales/principal repayments on loans receivable and direct financing leases 75,435 0
Investments in loans receivable and other (1,860) (3,704)
Net cash provided by (used in) investing activities (245,962) 767,726
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 3,732,668 3,437,200
Repayments under bank line of credit and commercial paper (3,567,830) (2,528,640)
Repayments and repurchase of debt, excluding bank line of credit and commercial paper (1,270) (1,491,754)
Payments for debt extinguishment and deferred financing costs 0 (158,011)
Issuance of common stock and exercise of options, net of offering costs (4) 1,087
Repurchase of common stock (11,352) (12,165)
Dividends paid on common stock (163,447) (164,118)
Distributions to and purchase of noncontrolling interests (7,509) (7,718)
Contributions from and issuance of noncontrolling interests 233 0
Net cash provided by (used in) financing activities (18,511) (924,119)
Net increase (decrease) in cash, cash equivalents and restricted cash (70,290) (33,667)
Cash, cash equivalents and restricted cash, beginning of period 219,448 181,685
Cash, cash equivalents and restricted cash, end of period $ 149,158 $ 148,018