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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (14,792) $ 453,763
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 11,471 12,292
Net amortization of debt premiums and deferred financing fees 0 (119)
Straight-line rental income (1,277) 346
Other amortization 1,900 2,357
Amortization of right-of-use asset 0 572
Share-based compensation 12,589 9,891
Gain on early extinguishment of debt 0 (131)
Net gain on sale of properties 0 (446,536)
Change in assets and liabilities:    
Rents receivable and other assets 407 (1,015)
Accounts payable, accrued expenses and other 735 1,556
Rent collected in advance (504) (1,266)
Net cash provided by operating activities 10,529 31,710
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (5,979) (7,878)
Proceeds from sale of properties, net 0 655,053
Net cash (used in) provided by investing activities (5,979) 647,175
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase and retirement of common shares (18,163) (26,895)
Payments on borrowings 0 (25,441)
Contributions from holders of noncontrolling interest 0 1
Distributions to common shareholders (6,024) (1,936)
Distributions to preferred shareholders (5,991) (5,991)
Distributions to holders of noncontrolling interest (33) (997)
Redemption of noncontrolling interest 0 (31)
Net cash used in financing activities (30,211) (61,290)
(Decrease) increase in cash, cash equivalents, and restricted cash (25,661) 617,595
Cash, cash equivalents, and restricted cash at beginning of period 2,987,225 2,800,645
Cash and cash equivalents at end of period 2,961,564 3,418,240
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 0 843
Taxes paid (refunded), net 244 (1,555)
NON-CASH INVESTING ACTIVITIES:    
Accrued capital expenditures 169 980
NON-CASH FINANCING ACTIVITIES:    
Distributions payable $ 2,954 $ 438,105