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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities:    
Net income $ 620,828 $ 541,052
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 464,476 453,124
Other amortization expenses 7,984 7,789
Impairment of assets 32,817 24,662
Stock-based compensation expense 16,725 9,669
Loss (gain) on derivatives and financial instruments, net (14,633) 1,960
Loss (gain) on extinguishment of debt, net 12,006 36,870
Loss (income) from unconsolidated entities 1,180 27,084
Rental income less than (in excess of) cash received 13,544 (41,325)
Amortization related to above (below) market leases, net 1,363 48
Loss (gain) on real estate dispositions, net (348,939) (286,247)
Distributions by unconsolidated entities 21 3,225
Increase (decrease) in accrued expenses and other liabilities 46,718 70,005
Decrease (increase) in receivables and other assets (15,666) (3,807)
Net cash provided from (used in) operating activities 838,424 844,109
Investing activities:    
Cash disbursed for acquisitions (595,596) (237,119)
Cash disbursed for capital improvements to existing properties (111,332) (93,147)
Cash disbursed for construction in progress (62,978) (149,046)
Capitalized interest (4,436) (7,488)
Investment in real estate loans receivable (48,291) (50,717)
Principal collected on real estate loans receivable 91,427 36,500
Other investments, net of payments (48,212) 52,457
Contributions to unconsolidated entities (32,768) (65,631)
Distributions by unconsolidated entities 22,897 47,384
Proceeds from (payments on) derivatives (27,678) 19,665
Proceeds from sales of real property 947,218 1,203,782
Net cash provided from (used in) investing activities 130,251 756,640
Financing activities:    
Net increase (decrease) under unsecured credit facilities (179,000) (260,000)
Proceeds from issuance of senior unsecured notes 545,074 0
Payments to extinguish senior unsecured notes (450,000) 0
Net proceeds from the issuance of secured debt 44,606 161,799
Payments on secured debt (224,958) (1,020,129)
Net proceeds from the issuance of common stock 10,188 424,451
Redemption of preferred stock 0 (287,500)
Payments for deferred financing costs and prepayment penalties (18,639) (52,838)
Contributions by noncontrolling interests(1) [1] 8,421 9,663
Distributions to noncontrolling interests(1) [1] (59,484) (38,143)
Cash distributions to stockholders (670,859) (660,355)
Other financing activities (5,639) (8,925)
Net cash provided from (used in) financing activities (1,000,290) (1,731,977)
Effect of foreign currency translation on cash, cash equivalents and restricted cash (5,305) 11,649
Increase (decrease) in cash, cash equivalents and restricted cash (36,920) (119,579)
Cash, cash equivalents and restricted cash at beginning of period 309,303 607,220
Cash, cash equivalents and restricted cash at end of period 272,383 487,641
Supplemental cash flow information:    
Interest paid 209,156 210,184
Income taxes paid (received), net $ 4,835 $ 4,360
[1] Includes amounts attributable to redeemable noncontrolling interests.