XML 18 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ 18,011 $ 134,246
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 41,237 55,799
Net amortization of debt discounts, premiums and deferred financing fees 1,562 1,932
Straight line rental income (8,930) (9,430)
Amortization of acquired real estate leases 4,955 14,834
Other amortization 5,607 7,937
Share-based compensation 10,732 8,977
Loss on asset impairment 19,714 43,736
Loss on early extinguishment of debt 63 118
Foreign currency exchange loss 0 5
Net gain on sale of properties (19,590) (143,041)
Change in assets and liabilities:    
Restricted cash 1,708 (4,115)
Rents receivable and other assets (19,902) (13,727)
Accounts payable and accrued expenses (10,506) (1,970)
Rent collected in advance 1,166 (1,651)
Security deposits 37 224
Cash provided by operating activities 45,864 93,874
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (37,985) (60,289)
Insurance proceeds received 4,000 0
Proceeds from sale of properties, net 185,300 388,774
Purchase of marketable securities (276,238) 0
(Increase) decrease in restricted cash (1,770) 2,583
Cash (used in) provided by investing activities (126,693) 331,068
CASH FLOWS FROM FINANCING ACTIVITIES:    
Purchase and retirement of common shares (209) (25,563)
Redemption of preferred shares 0 (275,000)
Payments on borrowings (42,124) (140,749)
Deferred financing fees 0 (52)
Contributions from holders of noncontrolling interest 31 0
Distributions to preferred shareholders (3,994) (13,962)
Cash used in financing activities (46,296) (455,326)
Effect of exchange rate changes on cash 0 (8)
Decrease in cash and cash equivalents (127,125) (30,392)
Cash and cash equivalents at beginning of period 2,094,674 1,802,729
Cash and cash equivalents at end of period 1,967,549 1,772,337
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 28,416 45,021
Taxes paid 729 103
NON-CASH INVESTING ACTIVITIES:    
Increase in capital expenditures recorded as liabilities $ 2,456 $ 728