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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 1,090,274 $ 705,054
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 764,429 707,625
Other amortization expenses 13,474 12,110
Provision for loan losses 18,690 0
Impairment of assets 28,035 39,557
Stock-based compensation expense 20,501 22,800
Loss (gain) on derivatives and financial instruments, net 670 (5,642)
Loss (gain) on extinguishment of debt, net 81,543 16,044
Loss (income) from unconsolidated entities 14,986 836
Rental income less than (in excess of) cash received (78,980) (7,830)
Amortization related to above (below) market leases, net (335) 1,984
Loss (gain) on real estate dispositions, net (735,977) (373,662)
Distributions by unconsolidated entities 0 21
Increase (decrease) in accrued expenses and other liabilities 845 103,474
Decrease (increase) in receivables and other assets (8,255) (11,223)
Net cash provided from (used in) operating activities 1,209,900 1,211,148
Investing activities:    
Cash disbursed for acquisitions (3,004,768) (3,190,534)
Cash disbursed for capital improvements to existing properties (206,413) (173,635)
Cash disbursed for construction in progress (258,113) (88,146)
Capitalized interest (10,404) (6,357)
Investment in real estate loans receivable (82,345) (67,136)
Principal collected on real estate loans receivable 32,130 149,592
Other investments, net of payments (13,304) (49,572)
Contributions to unconsolidated entities (194,490) (42,697)
Distributions by unconsolidated entities 98,880 61,253
Proceeds from (payments on) derivatives (20,569)  
Proceeds from (payments on) derivatives   65,438
Proceeds from sales of real property 2,601,071 1,208,501
Net cash provided from (used in) investing activities (1,058,325) (2,133,293)
Financing activities:    
Net increase (decrease) in unsecured credit facility and commercial paper 187,586 593,000
Proceeds from issuance of senior unsecured notes 3,253,516 2,825,898
Payments to extinguish senior unsecured notes (3,107,500) (1,450,000)
Net proceeds from the issuance of secured debt 318,854 44,606
Payments on secured debt (233,952) (238,867)
Net proceeds from the issuance of common stock 686,105 242,411
Payments for deferred financing costs and prepayment penalties (82,249) (29,701)
Contributions by noncontrolling interests [1] 42,988 11,238
Distributions to noncontrolling interests [1] (138,270) (86,462)
Cash distributions to stockholders (1,047,968) (1,006,274)
Other financing activities (11,643) (6,290)
Net cash provided from (used in) financing activities (132,533) 899,559
Effect of foreign currency translation on cash, cash equivalents and restricted cash (4,436) (5,432)
Increase (decrease) in cash, cash equivalents and restricted cash 14,606 (28,018)
Cash, cash equivalents and restricted cash at beginning of period 316,129 309,303
Cash, cash equivalents and restricted cash at end of period 330,735 281,285
Supplemental cash flow information:    
Interest paid 416,523 312,452
Income taxes paid (received), net $ 4,784 $ 3,195
[1] Includes amounts attributable to redeemable noncontrolling interests.