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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:      
Net income   $ 269,699 $ 158,770
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   1,020,371 968,082
Other amortization expenses   31,002 20,643
Provision for loan losses, net 7,292 (149)
Impairment of assets   21,103 4,356
Stock-based compensation expense   28,781 19,456
Loss (gain) on derivatives and financial instruments, net   5,095 8,076
Loss (gain) on extinguishment of debt, net   7 593
Loss (income) from unconsolidated entities 51,434 16,640
Rental income less than (in excess of) cash received   (96,345) (79,571)
Amortization related to above (below) market leases, net   (436) (1,199)
Loss (gain) on real estate dispositions, net   (69,681) (20,466)
Loss (gain) on loss of control of subsidiary (65,485) 0
Distributions by unconsolidated entities 9,055 8,648
Increase (decrease) in accrued expenses and other liabilities   95,695 96,250
Decrease (increase) in receivables and other assets   (76,228) (124,807)
Net cash provided from (used in) operating activities   1,231,359 1,075,322
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (1,073,627) (2,292,998)
Cash disbursed for capital improvements to existing properties (334,090) (315,835)
Cash disbursed for construction in progress (730,712) (463,465)
Capitalized interest   (36,152) (20,729)
Investment in loans receivable (328,554) (133,179)
Principal collected on loans receivable   68,404 172,380
Other investments, net of payments   (95,366) (62,625)
Contributions to unconsolidated entities   (267,359) (390,493)
Distributions by unconsolidated entities   145,985 34,256
Proceeds from (payments on) derivatives   3,933 63,747
Proceeds from sales of real property   83,984 124,431
Net cash provided from (used in) investing activities   (2,563,554) (3,284,510)
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 0  
Net increase (decrease) under unsecured credit facility and commercial paper   329,780
Net proceeds from issuance of senior unsecured notes 1,011,780 1,040,232
Net proceeds from the issuance of secured debt   381,369 89,804
Payments on secured debt   (439,027) (320,377)
Net proceeds from the issuance of common stock   3,265,056 2,184,953
Payments for deferred financing costs and prepayment penalties   (7,619) (4,881)
Contributions by noncontrolling interests [1] 211,071 47,503
Distributions to noncontrolling interests [1] (179,476) (221,754)
Cash distributions to stockholders   (922,288) (833,296)
Other financing activities (9,763) (7,730)
Net cash provided from (used in) financing activities   3,311,103 2,304,234
Effect of foreign currency translation on cash and cash equivalents and restricted cash (14,489) (16,617)
Increase (decrease) in cash, cash equivalents and restricted cash   1,964,419 78,429
Cash, cash equivalents and restricted cash at beginning of period   722,292 346,755
Cash, cash equivalents and restricted cash at end of period   2,686,711 425,184
Supplemental cash flow information:    
Interest paid 422,327 364,345
Income taxes paid (received), net $ 4,092 $ 6,725
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.