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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 492,866,000 $ 272,908,000 $ 29,666,000
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 23,782,000 40,386,000 73,169,000
Net amortization of debt discounts, premiums and deferred financing fees 204,000 2,553,000 3,135,000
Straight line rental income (418,000) (4,971,000) (14,425,000)
Amortization of acquired real estate leases 158,000 2,187,000 8,994,000
Other amortization 4,009,000 6,127,000 9,989,000
Amortization of right-of-use asset 736,000    
Share-based compensation 14,426,000 19,697,000 21,414,000
Loss on asset impairment 0 12,087,000 19,714,000
Loss on early extinguishment of debt 6,374,000 7,122,000 493,000
Loss on sale of marketable securities 0 4,987,000 0
Net gain on sale of properties (422,172,000) (251,417,000) (15,498,000)
Loss on sale of real estate mortgage receivable 0 2,117,000 0
Change in assets and liabilities:      
Rents receivable and other assets (13,099,000) (19,886,000) (23,708,000)
Accounts payable, accrued expenses and other (5,311,000) (704,000) (9,384,000)
Rent collected in advance (2,610,000) (3,657,000) (3,563,000)
Cash provided by operating activities 98,945,000 89,536,000 99,996,000
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate improvements (26,052,000) (49,930,000) (64,813,000)
Insurance proceeds received 0 1,443,000 4,000,000
Principal payments received from real estate mortgages receivable 0 0 313,000
Proceeds from sale of properties, net 771,787,000 961,079,000 802,324,000
Proceeds from sale of real estate mortgage receivable 0 5,599,000 0
Purchase of marketable securities 0 0 (276,238,000)
Proceeds from sale of marketable securities 0 23,933,000 0
Proceeds from maturity of marketable securities 250,000,000 0 0
Cash provided by investing activities 995,735,000 942,124,000 465,586,000
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repurchase and retirement of common shares (5,487,000) (93,976,000) (3,188,000)
Payments on borrowings (255,842,000) (581,460,000) (295,053,000)
Contributions from holders of noncontrolling interest 0 1,000 31,000
Distributions to common shareholders (428,649,000) (304,612,000) 0
Distributions to preferred shareholders (7,988,000) (7,988,000) (7,988,000)
Distributions to holders of noncontrolling interest (170,000) (114,000) 0
Cash used in financing activities (698,136,000) (988,149,000) (306,198,000)
Increase in cash, cash equivalents, and restricted cash 396,544,000 43,511,000 259,384,000
Cash, cash equivalents, and restricted cash at beginning of year 2,404,101,000 2,360,590,000 2,101,206,000
Cash, cash equivalents, and restricted cash at end of year 2,800,645,000 2,404,101,000 2,360,590,000
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest paid 13,032,000 27,117,000 56,796,000
Taxes paid, net 2,933,000 2,264,000 910,000
NON-CASH INVESTING ACTIVITIES:      
Recognition of right-of-use asset and lease liability 1,503,000    
Accrued capital expenditures 1,383,000 13,540,000 7,168,000
NON-CASH FINANCING ACTIVITIES:      
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 2,404,101,000 $ 2,360,590,000 $ 2,360,590,000