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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 210,597 $ 187,662
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Depreciation 7,403 11,279
Net amortization of debt discounts, premiums and deferred financing fees 165 801
Straight line rental income (837) (1,528)
Amortization of acquired real estate leases 53 997
Other amortization 1,034 1,628
Share-based compensation 3,927 5,338
Loss on asset impairment 0 12,087
Loss on marketable securities 0 4,987
Loss on early extinguishment of debt 0 4,867
Net gain on sale of properties (193,037) (205,211)
Change in assets and liabilities:    
Rents receivable and other assets (8,116) (11,410)
Accounts payable, accrued expenses and other (6,548) (10,082)
Rent collected in advance (1,871) (1,786)
Cash provided by (used in) operating activities 12,770 (371)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (14,340) (12,761)
Insurance proceeds received 0 1,443
Proceeds from sale of properties, net 427,379 744,324
Proceeds from maturity of marketable securities 250,000 0
Proceeds from sale of marketable securities 0 18,613
Cash provided by investing activities 663,039 751,619
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase and retirement of common shares (5,342) (89,910)
Payments on borrowings (143) (175,265)
Distributions to common shareholders (1,160) 0
Distributions to preferred shareholders (1,997) (1,997)
Cash used in financing activities (8,642) (267,172)
Increase in cash, cash equivalents, and restricted cash 667,167 484,076
Cash, cash equivalents, and restricted cash at beginning of period 2,404,101 2,360,590
Cash, cash equivalents, and restricted cash at end of period 3,071,268 2,844,666
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 7,714 14,631
Taxes (refunded), net (2) (2)
NON-CASH INVESTING ACTIVITIES:    
(Decrease) increase in accrued capital expenditures (10,633) 103
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 2,404,101 $ 2,360,590