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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 26,246 $ 25,833
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 86,374 80,512
Net amortization of debt discounts, premiums and deferred financing fees (148) (612)
Straight line rental income (1,611) (7,201)
Amortization of acquired real estate leases 20,413 27,806
Other amortization 12,782 9,579
Share-based compensation 8,110 3,354
Loss on asset impairment 17,162 20,282
(Gain) loss on early extinguishment of debt (9,998) 3,345
Equity in earnings of investees 0 (23,388)
Loss on sale of equity investments 0 33
Gain on issuance of shares by an equity investee 0 (17,020)
Distributions of earnings from investees 0 20,680
Net gain on sale of properties (3,160) 0
Other non-cash expenses 0 15,048
Change in assets and liabilities:    
Restricted cash (2,917) 641
Rents receivable and other assets (20,462) (19,856)
Accounts payable and accrued expenses (847) (7,833)
Rent collected in advance (8,539) (2,339)
Security deposits 597 241
Due to related persons 0 47
Cash provided by operating activities 124,002 129,152
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (28,623) (60,437)
Principal payments received from direct financing lease 3,789 3,612
Proceeds from sale of properties, net 962,003 185,179
Proceeds from sale of securities 27,068 0
Proceeds from sale of equity investments, net 0 5,776
Increase in restricted cash (2,313) (3,661)
Cash provided by investing activities 961,924 130,469
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on borrowings (141,908) (15,998)
Deferred financing fees (7,143) 0
Distributions to common shareholders 0 (29,597)
Distributions to preferred shareholders (13,962) (11,151)
Cash used in financing activities (163,013) (56,746)
Effect of exchange rate changes on cash (527) 757
Increase in cash and cash equivalents 922,386 203,632
Cash and cash equivalents at beginning of period 364,516 217,032
Cash and cash equivalents at end of period 1,286,902 420,664
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 62,094 77,120
Taxes paid 3,088 2,732
NON-CASH INVESTING ACTIVITIES:    
Increase in capital expenditures recorded as liabilities $ 523 $ 13,368