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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 699,517 $ 708,402
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 619,003 616,201
Amortization of deferred financing costs 6,253 8,664
Amortization of above/below market lease intangibles (53) (53)
Amortization of discounts and premiums on debt 3,834 10,137
Amortization of deferred settlements on derivative instruments 17,266 14,650
Amortization of right-of-use assets 8,785 9,966
Write-off of pursuit costs 4,864 4,098
(Income) loss from investments in unconsolidated entities 2,445 (66,906)
Distributions from unconsolidated entities – return on capital 100 2,486
Net (gain) loss on sales of real estate properties (352,218) (269,400)
Net (gain) loss on sales of land parcels   (2,077)
Net (gain) loss on debt extinguishment   3,381
Realized/unrealized (gain) loss on derivative instruments 50  
Compensation paid with Company Common Shares 18,275 20,777
Other operating activities, net 1,805  
Changes in assets and liabilities:    
(Increase) decrease in other assets (30,197) (20,871)
Increase (decrease) in accounts payable and accrued expenses 54,418 57,822
Increase (decrease) in accrued interest payable (1,183) 11,125
Increase (decrease) in lease liabilities (1,650) (1,784)
Increase (decrease) in other liabilities (8,381) (15,578)
Increase (decrease) in security deposits (8,609) 3,140
Net cash provided by operating activities 1,034,324 1,094,180
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (48,898) (1,147,236)
Investment in real estate – development/other (157,778) (137,238)
Capital expenditures to real estate (92,123) (128,335)
Non-real estate capital additions (19,290) (2,139)
Interest capitalized for real estate under development (6,880) (4,801)
Proceeds from disposition of real estate, net 747,600 692,649
Investments in unconsolidated entities (6,664) (9,073)
Distributions from unconsolidated entities – return of capital 1,000 78,262
Purchase of investment securities and other investments (509) (269)
Net cash provided by (used for) investing activities 416,458 (658,180)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (2,923) (12,025)
Mortgage notes payable, net:    
Proceeds 505,375 295,713
Lump sum payoffs (127,767) (723,021)
Scheduled principal repayments (5,821) (4,883)
Net gain (loss) on debt extinguishment   (3,381)
Notes, net:    
Proceeds   1,194,468
Lump sum payoffs   (450,000)
Line of credit and commercial paper:    
Line of credit proceeds 1,870,000 5,850,000
Line of credit repayments (1,890,000) (5,850,000)
Commercial paper proceeds 6,726,167 13,341,198
Commercial paper repayments (7,724,000) (13,486,000)
Proceeds from (payments on) settlement of derivative instruments (1,240) (41,616)
Proceeds from Employee Share Purchase Plan (ESPP) 3,556 2,323
Proceeds from exercise of options 11,426 67,066
Payment of offering costs   (789)
Other financing activities, net (31) (49)
Contributions – Noncontrolling Interests – Partially Owned Properties 417 4,594
Contributions – Noncontrolling Interests – Operating Partnership 12  
Distributions:    
Common Shares (659,668) (620,391)
Preferred Shares (2,318) (2,318)
Noncontrolling Interests – Operating Partnership (24,440) (22,202)
Noncontrolling Interests – Partially Owned Properties (11,312) (6,404)
Net cash provided by (used for) financing activities (1,332,567) (467,717)
Net increase (decrease) in cash and cash equivalents and restricted deposits 118,215 (31,717)
Cash and cash equivalents and restricted deposits, beginning of period 116,999 116,313
Cash and cash equivalents and restricted deposits, end of period 235,214 84,596
Cash and cash equivalents 178,333 28,777
Restricted deposits 56,881 55,819
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 223,703 246,410
Net cash paid (received) for income and other taxes (1,092) 918
Amortization of deferred financing costs:    
Investment in real estate, net (180) (60)
Other assets 1,755 1,808
Mortgage notes payable, net 1,337 3,529
Notes, net 3,341 3,387
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 1,791 8,017
Notes, net 2,043 2,120
Amortization of deferred settlements on derivative instruments:    
Other liabilities (9) (9)
Accumulated other comprehensive income 17,275 14,659
Write-off of pursuit costs:    
Investment in real estate, net 4,621 4,042
Other assets 219 48
Accounts payable and accrued expenses 24 8
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,474 (67,900)
Other liabilities 971 994
Realized/unrealized (gain) loss on derivative instruments:    
Other assets   2,002
Notes, net   2,277
Other liabilities 1,240 29,486
Accumulated other comprehensive income (1,190) (33,765)
Investments in unconsolidated entities:    
Investments in unconsolidated entities (5,164) (6,973)
Other liabilities (1,500) (2,100)
Debt financing costs:    
Other assets (231) 145
Mortgage notes payable, net $ (2,692) (2,354)
Notes, net   (10,454)
Other liabilities   638
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets   (491,010)
Other assets   184,116
Lease liabilities   335,096
Other liabilities   $ (28,202)