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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:      
Net income   $ 488,596 $ 442,342
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   540,172 491,984
Other amortization expenses   6,947 9,761
Provision for loan losses 8,494 18,690
Impairment of assets   102,978 9,939
Stock-based compensation expense   14,373 15,192
Loss (gain) on derivatives and financial instruments, net   9,085 (574)
Loss (gain) on extinguishment of debt, net 249 15,719
Loss (income) from unconsolidated entities 2,360 18,248
Rental income less than (in excess of) cash received   (25,959) (53,234)
Amortization related to above (below) market leases, net   (1,008) (2)
Loss (gain) on real estate dispositions, net   (418,687) (165,727)
Distributions by unconsolidated entities 6,795 46
Increase (decrease) in accrued expenses and other liabilities   22,348 55,415
Decrease (increase) in receivables and other assets   54,873 (3,317)
Net cash provided from (used in) operating activities   811,616 854,482
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (390,802) (2,718,808)
Cash disbursed for capital improvements to existing properties (122,103) (124,176)
Cash disbursed for construction in progress (93,031) (155,409)
Capitalized interest   (9,287) (6,256)
Investment in loans receivable (19,538) (65,422)
Principal collected on loans receivable   12,796 8,660
Other investments, net of payments   (3,695) (16,973)
Contributions to unconsolidated entities   (225,739) (119,001)
Distributions by unconsolidated entities   8,811 70,844
Proceeds from (payments on) derivatives   (13,319) (21,643)
Proceeds from sales of real property   1,998,087 616,820
Net cash provided from (used in) investing activities   1,142,180 (2,531,364)
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper (1,587,597)  
Net increase (decrease) under unsecured credit facility and commercial paper   722,188
Proceeds from issuance of senior unsecured notes 1,588,549 2,036,964
Payments to extinguish senior unsecured notes   0 (1,050,000)
Net proceeds from the issuance of secured debt   44,921 295,969
Payments on secured debt   (345,340) (178,700)
Net proceeds from the issuance of common stock   595,313 647,156
Repurchase of common stock (7,656) 0
Payments for deferred financing costs and prepayment penalties   (4,725) (24,177)
Contributions by noncontrolling interests [1] 13,764 39,122
Distributions to noncontrolling interests [1] (180,875) (64,004)
Cash distributions to stockholders   (610,847) (695,099)
Other financing activities (9,816) (8,615)
Net cash provided from (used in) financing activities   (504,309) 1,720,804
Effect of foreign currency translation on cash and cash equivalents and restricted cash (9,010) (333)
Increase (decrease) in cash, cash equivalents and restricted cash   1,440,477 43,589
Cash, cash equivalents and restricted cash at beginning of period   385,766 316,129
Cash, cash equivalents and restricted cash at end of period   1,826,243 359,718
Supplemental cash flow information:    
Interest paid 227,632 252,714
Income taxes paid (received), net $ (1,142) $ 2,040
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.