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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:      
Net income   $ 72,192 $ 329,380
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   244,426 274,801
Other amortization expenses   4,197 3,220
Provision for loan losses 1,383 7,072
Impairment of assets   23,568 27,827
Stock-based compensation expense   5,576 7,083
Loss (gain) on derivatives and financial instruments, net   1,934 7,651
Loss (gain) on extinguishment of debt, net (4,643) 0
Loss (income) from unconsolidated entities (13,049) 3,692
Rental income less than (in excess of) cash received   30,563 (2,119)
Amortization related to above (below) market leases, net   (460) (565)
Loss (gain) on real estate dispositions, net   (59,080) (262,824)
Distributions by unconsolidated entities 3,036 3,385
Increase (decrease) in accrued expenses and other liabilities   (4,406) (30,030)
Decrease (increase) in receivables and other assets   (1,579) 43,284
Net cash provided from (used in) operating activities   303,658 411,857
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (203,107) (390,802)
Cash disbursed for capital improvements to existing properties (28,780) (69,382)
Cash disbursed for construction in progress (73,605) (48,775)
Capitalized interest   (4,496) (4,746)
Investment in loans receivable (43,148) (10,441)
Principal collected on loans receivable   2,852 10,045
Other investments, net of payments   664  
Other investments, net of payments     (3,612)
Contributions to unconsolidated entities   (94,095) (137,129)
Distributions by unconsolidated entities   36,934 3,555
Proceeds from (payments on) derivatives   (6,567) (357)
Proceeds from sales of real property   274,208 801,392
Net cash provided from (used in) investing activities   (139,140) 149,748
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 0 (742,612)
Net proceeds from issuance of senior unsecured notes 713,907 0
Net proceeds from the issuance of secured debt   0 44,921
Payments on secured debt   (57,888) (31,566)
Net proceeds from the issuance of common stock   0 591,001
Payments for deferred financing costs and prepayment penalties   (1,221) (722)
Contributions by noncontrolling interests [1] 5,073 9,084
Distributions to noncontrolling interests [1] (30,117) (50,124)
Cash distributions to stockholders   (254,915) (354,678)
Other financing activities (2,936) (9,599)
Net cash provided from (used in) financing activities   371,903 (544,295)
Effect of foreign currency translation on cash and cash equivalents and restricted cash 1,358 (10,010)
Increase (decrease) in cash, cash equivalents and restricted cash   537,779 7,300
Cash, cash equivalents and restricted cash at beginning of period   2,021,043 385,766
Cash, cash equivalents and restricted cash at end of period   2,558,822 393,066
Supplemental cash flow information:    
Interest paid 135,947 140,216
Income taxes paid (received), net $ (852) $ 471
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.