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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 604,152 $ 430,556
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 418,398 404,723
Amortization of deferred financing costs 4,152 5,783
Amortization of above/below market lease intangibles (35) (35)
Amortization of discounts and premiums on debt 2,553 17,795
Amortization of deferred settlements on derivative instruments 11,392 8,896
Amortization of right-of-use assets 5,892 6,952
Write-off of pursuit costs 3,278 2,987
(Income) loss from investments in unconsolidated entities 2,199 (68,058)
Distributions from unconsolidated entities – return on capital 100 2,387
Net (gain) loss on sales of real estate properties (352,243) (138,835)
Net (gain) loss on sales of land parcels   (178)
Realized/unrealized (gain) loss on derivative instruments 25  
Compensation paid with Company Common Shares 13,475 16,782
Other operating activities, net 1,805  
Changes in assets and liabilities:    
(Increase) decrease in other assets (61,422) 1,610
Increase (decrease) in accounts payable and accrued expenses 5,954 22,435
Increase (decrease) in accrued interest payable 737 1,536
Increase (decrease) in lease liabilities (1,199) (1,171)
Increase (decrease) in other liabilities (18,070) (25,161)
Increase (decrease) in security deposits (6,057) 1,769
Net cash provided by operating activities 635,086 690,773
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions   (653,132)
Investment in real estate – development/other (95,215) (93,210)
Capital expenditures to real estate (61,265) (81,528)
Non-real estate capital additions (15,536) (1,466)
Interest capitalized for real estate under development (4,102) (2,679)
Proceeds from disposition of real estate, net 747,600 393,439
Investments in unconsolidated entities (5,626) (8,572)
Distributions from unconsolidated entities – return of capital   78,262
Purchase of investment securities and other investments (509) (269)
Net cash provided by (used for) investing activities 565,347 (369,155)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (2,907) (6,069)
Mortgage notes payable, net:    
Proceeds 495,145 295,620
Lump sum payoffs (91,500) (95,500)
Scheduled principal repayments (3,873) (3,110)
Notes, net:    
Proceeds   597,480
Line of credit and commercial paper:    
Line of credit proceeds 1,870,000 1,995,000
Line of credit repayments (1,890,000) (1,995,000)
Commercial paper proceeds 6,726,167 7,775,817
Commercial paper repayments (7,724,000) (8,275,000)
Proceeds from (payments on) settlement of derivative instruments (1,215) (41,616)
Proceeds from Employee Share Purchase Plan (ESPP) 2,359 1,652
Proceeds from exercise of options 11,322 48,487
Payment of offering costs   (155)
Other financing activities, net (31) (49)
Contributions – Noncontrolling Interests – Partially Owned Properties 341 4,594
Contributions – Noncontrolling Interests – Operating Partnership 12  
Distributions:    
Common Shares (435,427) (409,943)
Preferred Shares (1,545) (773)
Noncontrolling Interests – Operating Partnership (16,478) (14,728)
Noncontrolling Interests – Partially Owned Properties (10,269) (5,170)
Net cash provided by (used for) financing activities (1,071,899) (128,463)
Net increase (decrease) in cash and cash equivalents and restricted deposits 128,534 193,155
Cash and cash equivalents and restricted deposits, beginning of period 116,999 116,313
Cash and cash equivalents and restricted deposits, end of period 245,533 309,468
Cash and cash equivalents 187,416 251,273
Restricted deposits 58,117 58,195
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 148,164 171,116
Net cash paid (received) for income and other taxes 428 754
Amortization of deferred financing costs:    
Investment in real estate, net (120)  
Other assets 1,169 1,206
Mortgage notes payable, net 876 2,344
Notes, net 2,227 2,233
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 1,191 16,426
Notes, net 1,362 1,369
Amortization of deferred settlements on derivative instruments:    
Other liabilities (6) (6)
Accumulated other comprehensive income 11,398 8,902
Write-off of pursuit costs:    
Investment in real estate, net 3,122 2,947
Other assets 140 37
Accounts payable and accrued expenses 16 3
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,554 (68,735)
Other liabilities 645 677
Realized/unrealized (gain) loss on derivative instruments:    
Other assets   2,002
Notes, net   2,253
Other liabilities 1,215 29,510
Accumulated other comprehensive income (1,190) (33,765)
Investments in unconsolidated entities:    
Investments in unconsolidated entities (4,726) (6,472)
Other liabilities (900) (2,100)
Debt financing costs:    
Other assets (215) 145
Mortgage notes payable, net $ (2,692) (2,237)
Notes, net   (5,213)
Other liabilities   1,236
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets   (438,705)
Other assets   184,116
Lease liabilities   282,791
Other liabilities   $ (28,202)