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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net income (loss) $ 739,134,000 $ 305,825,000
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 603,431,000 648,737,000
Other amortization expenses 3,867,000 5,626,000
Asset Impairment Charges 2,220,000 0
Stock-based compensation expense 25,655,000 26,108,000
Loss (gain) on derivatives, net (58,427,000) [1] 400,000
Loss (gain) on extinguishment of debt, net 34,872,000 3,075,000
Income from unconsolidated entities 18,231,000 19,705,000
Rental income in excess of cash received (86,739,000) (51,017,000)
Amortization related to above (below) market leases, net 2,863,000 503,000
Net loss (gain) on sales of properties (249,002,000) (42,683,000)
Distributions by unconsolidated entities 435,000 8,883,000
Increase (decrease) in accrued expenses and other liabilities 42,759,000 (19,259,000)
Decrease (increase) in receivables and other assets (42,975,000) (51,734,000)
Net cash provided from (used in) operating activities 1,036,324,000 854,169,000
Investing activities    
Cash disbursed for acquisitions (2,489,345,000) (991,315,000)
Cash disbursed for capital improvements to existing properties (122,640,000) (86,324,000)
Cash disbursed for construction in progress (165,311,000) (140,829,000)
Capitalized interest (6,311,000) (5,084,000)
Investment in real estate loans receivable (445,985,000) (79,264,000)
Other investments, net of payments (129,311,000) (39,202,000)
Principal collected on real estate loans receivable 71,111,000 46,268,000
Contributions to unconsolidated entities (139,295,000) (246,794,000)
Distributions by unconsolidated entities 139,557,000 38,261,000
Proceeds from (payments on) derivatives investing 103,615,000 0
Decrease (increase) in restricted cash 10,512,000 (45,346,000)
Proceeds from sales of real property 667,761,000 442,733,000
Net cash provided from (used in) investing activities (2,505,642,000) (1,106,896,000)
Financing activities    
Net increase (decrease) under unsecured lines of credit arrangements 490,000,000 (130,000,000)
Proceeds from issuance of senior unsecured notes 743,407,000 0
Payments to extinguish senior unsecured notes (534,546,000) (47,591,000)
Secured debt issued 222,612,000 98,100,000
Payments on secured debt (469,455,000) (286,162,000)
Net proceeds from the issuance of common stock 1,641,981,000 2,260,908,000
Decrease (increase) in deferred loan expenses (7,834,000) (17,429,000)
Contributions by noncontrolling interests [2] 163,105,000 5,572,000
Distributions to noncontrolling interests [2] (27,439,000) (30,909,000)
Acquisitions of noncontrolling interests (3,154,000) (1,175,000)
Cash distributions to stockholders (901,618,000) (757,980,000)
Other financing activities (27,114,000) (844,000)
Net cash provided from (used in) financing activities 1,289,945,000 1,092,490,000
Effect of foreign currency translation on cash and cash equivalents (2,311,000) 135,000
Increase (decrease) in cash and cash equivalents (181,684,000) 839,898,000
Cash and cash equivalents at beginning of period 473,726,000 158,780,000
Cash and cash equivalents at end of period 292,042,000 998,678,000
Supplemental cash flow information:    
Interest paid 334,511,000 365,738,000
Income taxes paid $ 11,489,000 $ 16,672,000
[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.