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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net income (loss) $ 539,880,000 $ 153,054,000
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 397,631,000 447,766,000
Other amortization expenses 2,458,000 3,065,000
Asset Impairment Charges 2,220,000 0
Stock-based compensation expense 20,178,000 21,837,000
Loss (gain) on derivatives, net (58,427,000) [1] 351,000
Loss (gain) on extinguishment of debt, net 34,288,000 383,000
Income from unconsolidated entities 15,600,000 17,073,000
Rental income in excess of cash received (57,047,000) (26,414,000)
Amortization related to above (below) market leases, net 870,000 365,000
Net loss (gain) on sales of properties (246,956,000) (13,079,000)
Distributions by unconsolidated entities 282,000 7,155,000
Increase (decrease) in accrued expenses and other liabilities 10,417,000 5,433,000
Decrease (increase) in receivables and other assets (42,093,000) (21,455,000)
Net cash provided from (used in) operating activities 619,301,000 595,534,000
Investing activities    
Cash disbursed for acquisitions (2,153,970,000) (488,066,000)
Cash disbursed for capital improvements to existing properties (67,086,000) (54,688,000)
Cash disbursed for construction in progress (114,477,000) (95,201,000)
Capitalized interest (4,446,000) (3,305,000)
Investment in real estate loans receivable (416,588,000) (54,877,000)
Other investments, net of payments (110,532,000) (47,858,000)
Principal collected on real estate loans receivable 37,342,000 20,941,000
Contributions to unconsolidated entities (117,047,000) (246,794,000)
Distributions by unconsolidated entities 116,288,000 22,925,000
Proceeds from (payments on) derivatives investing 72,522,000 0
Decrease (increase) in restricted cash 12,422,000 7,682,000
Proceeds from sales of real property 523,175,000 140,819,000
Net cash provided from (used in) investing activities (2,222,397,000) (798,422,000)
Financing activities    
Net increase (decrease) under unsecured lines of credit arrangements 350,000,000 (130,000,000)
Proceeds from issuance of senior unsecured notes 743,407,000 0
Payments to extinguish senior unsecured notes (477,550,000) (1,000)
Secured debt issued 136,801,000 10,690,000
Payments on secured debt (323,950,000) (219,980,000)
Net proceeds from the issuance of common stock 1,562,350,000 1,101,969,000
Decrease (increase) in deferred loan expenses (5,285,000) (3,395,000)
Contributions by noncontrolling interests [2] 4,926,000 4,485,000
Distributions to noncontrolling interests [2] (19,371,000) (14,208,000)
Acquisitions of noncontrolling interests (4,741,000) (1,175,000)
Cash distributions to stockholders (594,617,000) (495,256,000)
Other financing activities (27,253,000) (608,000)
Net cash provided from (used in) financing activities 1,344,717,000 252,521,000
Effect of foreign currency translation on cash and cash equivalents 2,595,000 (1,059,000)
Increase (decrease) in cash and cash equivalents (255,784,000) 48,574,000
Cash and cash equivalents at beginning of period 473,726,000 158,780,000
Cash and cash equivalents at end of period 217,942,000 207,354,000
Supplemental cash flow information:    
Interest paid 208,885,000 224,544,000
Income taxes paid $ 10,140,000 $ 11,955,000
[1] (1) In April 2011, we completed the acquisition of substantially all of the real estate assets of privately-owned Genesis Healthcare Corporation. In conjunction with this transaction, we received the option to acquire an ownership interest in Genesis Healthcare. In February 2015, Genesis Healthcare closed on a transaction to merge with Skilled Healthcare Group to become a publicly traded company which required us to record the value of the derivative asset due to the net settlement feature.
[2] (1) Includes amounts attributable to redeemable noncontrolling interests.