XML 17 R5.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:      
Net income   $ 117,949 $ 488,596
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   485,311 540,172
Other amortization expenses   8,854 6,947
Provision for loan losses 7,580 8,494
Impairment of assets   47,260 102,978
Stock-based compensation expense   10,333 14,373
Loss (gain) on derivatives and financial instruments, net   1,575 9,085
Loss (gain) on extinguishment of debt, net 50,969 249
Loss (income) from unconsolidated entities (5,073) 2,360
Rental income less than (in excess of) cash received   9,688 (25,959)
Amortization related to above (below) market leases, net   (926) (1,008)
Loss (gain) on real estate dispositions, net   (103,748) (418,687)
Distributions by unconsolidated entities 4,841 6,795
Increase (decrease) in accrued expenses and other liabilities   18,569 22,348
Decrease (increase) in receivables and other assets   (14,269) 54,873
Net cash provided from (used in) operating activities   638,913 811,616
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (661,285) (390,802)
Cash disbursed for capital improvements to existing properties (94,483) (122,103)
Cash disbursed for construction in progress (144,344) (93,031)
Capitalized interest   (9,358) (9,287)
Investment in loans receivable (918,407) (19,538)
Principal collected on loans receivable   248,841 12,796
Other investments, net of payments   3,030  
Other investments, net of payments     (3,695)
Contributions to unconsolidated entities   (233,296) (225,739)
Distributions by unconsolidated entities   171,250 8,811
Proceeds from (payments on) derivatives   (13,762) (13,319)
Proceeds from sales of real property   446,680 1,998,087
Net cash provided from (used in) investing activities   (1,205,134) 1,142,180
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 0 (1,587,597)
Net proceeds from issuance of senior unsecured notes 1,208,241 1,588,549
Payments to extinguish senior unsecured notes   (1,533,752) 0
Net proceeds from the issuance of secured debt   0 44,921
Payments on secured debt   (98,263) (345,340)
Net proceeds from the issuance of common stock   366,464 595,313
Repurchase of common stock 0 (7,656)
Payments for deferred financing costs and prepayment penalties   (72,251) (4,725)
Contributions by noncontrolling interests [1] 65,982 13,764
Distributions to noncontrolling interests [1] (67,242) (180,875)
Cash distributions to stockholders   (509,665) (610,847)
Other financing activities (7,628) (9,816)
Net cash provided from (used in) financing activities   (648,114) (504,309)
Effect of foreign currency translation on cash and cash equivalents and restricted cash 1,996 (9,010)
Increase (decrease) in cash, cash equivalents and restricted cash   (1,212,339) 1,440,477
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   808,704 1,826,243
Supplemental cash flow information:    
Interest paid 221,294 227,632
Income taxes paid (received), net $ 1,922 $ (1,142)
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.