XML 34 R8.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 476,870 $ 257,486
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 18,608 31,144
Net amortization of debt discounts, premiums and deferred financing fees 264 2,005
Straight line rental income (349) (3,985)
Amortization of acquired real estate leases 158 2,015
Other amortization 3,146 4,834
Amortization of right-of-use asset 549  
Share-based compensation 11,056 15,677
Loss on asset impairment 0 12,087
Loss on marketable securities 0 4,987
Loss on early extinguishment of debt 6,374 6,403
Net gain on sale of properties (422,148) (253,025)
Loss on sale of real estate mortgage receivable 0 2,117
Change in assets and liabilities:    
Rents receivable and other assets (11,072) (19,749)
Accounts payable, accrued expenses and other (7,158) (6,523)
Rent collected in advance (2,204) (4,926)
Cash provided by operating activities 74,094 50,547
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (21,416) (41,718)
Insurance proceeds received 0 1,443
Proceeds from sale of properties, net 771,787 954,334
Proceeds from sale of real estate mortgage receivable 0 5,599
Proceeds from maturity of marketable securities 250,000 0
Proceeds from sale of marketable securities 0 23,933
Cash provided by investing activities 1,000,371 943,591
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase and retirement of common shares (5,487) (89,910)
Payments on borrowings (255,697) (575,792)
Contributions from holders of noncontrolling interest 0 1
Distributions to common shareholders (1,160) 0
Distributions to preferred shareholders (5,991) (5,991)
Cash used in financing activities (268,335) (671,692)
Increase in cash, cash equivalents, and restricted cash 806,130 322,446
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 3,210,231 2,683,036
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 12,664 25,899
Taxes paid, net 2,944 2,377
NON-CASH INVESTING ACTIVITIES:    
Recognition of right-of-use asset and lease liability 1,503  
Accrued capital expenditures 2,161 8,737
NON-CASH FINANCING ACTIVITIES:    
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 2,404,101 $ 2,360,590