XML 23 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (16,429) $ 452,093 $ 492,866
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 15,235 16,162 23,782
Net amortization of debt discounts, premiums and deferred financing fees 0 (119) 204
Straight-line rental income (1,407) 340 (418)
Amortization of acquired real estate leases 0 0 158
Other amortization 2,539 3,167 4,009
Amortization of right-of-use asset 0 767 736
Share-based compensation 15,442 13,215 14,426
(Gain) loss on early extinguishment of debt 0 (131) 6,374
Net gain on sale of properties 0 (446,744) (422,172)
Change in assets and liabilities:      
Rents receivable and other assets 81 (2,119) (13,099)
Accounts payable, accrued expenses and other (410) (3,104) (5,311)
Rent collected in advance 1,058 (199) (2,610)
Net cash provided by operating activities 16,109 33,328 98,945
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate improvements (6,803) (12,039) (26,052)
Proceeds from sale of properties, net 0 655,291 771,787
Proceeds from maturity of marketable securities 0 0 250,000
Net cash (used in) provided by investing activities (6,803) 643,252 995,735
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repurchase and retirement of common shares (181,488) (26,897) (5,487)
Payments on borrowings 0 (25,441) (255,842)
Contributions from holders of noncontrolling interest 0 1 0
Distributions to common shareholders (6,024) (427,795) (428,649)
Distributions to preferred shareholders (7,988) (7,988) (7,988)
Distributions to holders of noncontrolling interest (33) (1,849) (170)
Redemption of noncontrolling interest 0 (31) 0
Net cash used in financing activities (195,533) (490,000) (698,136)
(Decrease) increase in cash, cash equivalents, and restricted cash (186,227) 186,580 396,544
Cash, cash equivalents, and restricted cash at beginning of year 2,987,225 2,800,645 2,404,101
Cash, cash equivalents, and restricted cash at end of year 2,800,998 2,987,225 2,800,645
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest paid 0 843 13,032
Taxes paid (refunded), net 246 (1,444) 2,933
NON-CASH INVESTING ACTIVITIES:      
Recognition of right-of-use asset and lease liability 0 0 1,503
Accrued capital expenditures 509 986 1,383
NON-CASH FINANCING ACTIVITIES:      
Distributions payable 2,365 10,991 7,534
Cash and cash equivalents 2,800,998 2,987,225 2,795,642
Restricted cash 0 0 5,003
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 2,800,998 $ 2,987,225 $ 2,800,645