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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flow from operating activities:      
Net (loss) income $ (243,132) $ 61,199 $ (70,310)
Adjustments to reconcile net (loss) income to net cash flow provided by operating activities:      
Depreciation and amortization 346,204 389,519 402,045
Stock-based compensation 11,493 7,765 7,895
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 7,472 2,147 (5,315)
Loss on extinguishments of debt 63,204 0 0
Accretion of convertible debt discount 0 0 9,953
Equity in net (income) loss of joint ventures (8,837) (15,699) 3,135
Reserve of preferred equity interests 61,000 0 0
Impairment of joint venture investments 0 0 1,909
Net (gain) loss on sale and change in control of interests (368) 1,087 (7,772)
Operating cash distributions from joint ventures 7,413 8,210 8,382
Gain on disposition of real estate (161,164) (73,386) (167,571)
Impairment charges 345,580 110,906 279,021
Valuation allowance of prepaid tax asset 10,794 0 0
Assumption of buildings due to lease terminations (8,585) 0 0
Change in notes receivable accrued interest (2,705) (9,487) (8,048)
Net change in accounts receivable 2,470 1,410 (3,107)
Net change in accounts payable and accrued expenses (3,661) (9,775) 174
Net change in other operating assets and liabilities (16,771) (13,233) (16,915)
Total adjustments 653,539 399,464 503,786
Net cash flow provided by operating activities 410,407 460,663 433,476
Cash flow from investing activities:      
Real estate acquired, net of liabilities and cash assumed (86,079) (145,975) (176,020)
Real estate developed and improvements to operating real estate (115,361) (162,926) (305,725)
Proceeds from disposition of real estate 624,250 758,064 488,229
Hurricane casualty insurance advance proceeds 10,000 0 0
Equity contributions to joint ventures (69,240) (6,849) (6,142)
Repayment (issuance) of joint venture advances, net 56,085 10,000 (82,634)
Distributions from unconsolidated joint ventures 27,885 26,793 18,123
Issuance of notes receivable 0 (11,139) 0
Repayment of notes receivable 31,068 5,065 9,521
Net cash flow provided by (used for) investing activities 478,608 473,033 (54,648)
Cash flow from financing activities:      
(Repayment of) proceeds from revolving credit facilities, net 0 (210,000) 182,371
Proceeds from issuance of senior notes, net of offering expenses 791,113 0 884,786
Repayment of senior notes (958,509) (240,000) (502,996)
Proceeds from other debt 0 0 400,000
Repayment of term loans and mortgage debt (542,486) (195,495) (1,068,924)
Payment of debt issuance costs (7,295) (43) (4,605)
Proceeds from issuance of preferred shares, net of offering expenses 168,870 0 0
Issuance of common shares in conjunction with equity award plans and dividend reinvestment plan 21,677 13,536 2,325
Redemption of operating partnership units (232) 0 0
Distributions to non-controlling interests and redeemable operating partnership units (835) (1,085) (6,452)
Dividends paid (305,819) (293,905) (265,277)
Net cash flow used for financing activities (833,516) (926,992) (378,772)
Effect of foreign exchange rate changes on cash and cash equivalents 0 1 152
Net increase in cash, cash equivalents and restricted cash 55,499 6,704 56
Cash, cash equivalents and restricted cash, beginning of year 39,225 32,520 32,312
Cash, cash equivalents and restricted cash, end of year $ 94,724 $ 39,225 $ 32,520