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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows — Operating Activities      
Net income $ 132,165 $ 62,779 $ 139,138
Adjustments to net income:      
Depreciation and amortization, including intangible assets and deferred financing costs 140,316 55,114 29,616
(Income) loss from equity investments in real estate and the Managed REITs in excess of distributions received (10,177) (17,271) 310
Straight-line rent and amortization of rent-related intangibles 21,333 2,831 (3,698)
Amortization of deferred revenue (9,436) (9,436) (6,291)
Gain on deconsolidation of a subsidiary 0 0 (1,008)
(Gain) loss on sale of real estate (39,711) 2,773 3,391
Unrealized (gain) loss on derivatives and others (7,529) (1,861) 138
Realized loss (gain) on extinguishment of debt and others 1,375 610 (965)
Management and disposition income received in shares of Managed REITs (33,572) (28,477) (73,936)
Gain on conversion of shares 0 (15) (3,806)
Gain on change in control of interests 0 (20,794) (27,859)
Impairment charges 13,709 22,962 10,473
Stock-based compensation expenses 37,195 26,038 17,716
Deferred acquisition revenue received 18,633 21,059 21,546
Increase in structuring revenue receivable (13,788) (20,304) (19,537)
(Increase) decrease in income taxes, net (21,978) (6,936) 3,242
Increase in prepaid taxes (5,967) (11,341) (2,998)
Payments for withholding taxes upon delivery of equity-based awards and exercises of stock options (11,476) (6,135) (4,760)
Net changes in other operating assets and liabilities (3,184) 9,047 (596)
Net Cash Provided by Operating Activities 207,908 80,643 80,116
Cash Flows — Investing Activities      
Cash paid to stockholders of CPA®:15 in the CPA®:15 Merger 0 (152,356) 0
Cash acquired in connection with the CPA®:15 Merger 0 178,945 0
Distributions received from equity investments in real estate and the Managed REITs in excess of equity income 58,018 46,294 20,807
Capital contributions to equity investments (1,945) (726) (2,297)
Purchase of interests in CPA®:16 – Global 0 0 (121,315)
Purchases of real estate and equity investments in real estate (265,383) (3,944) (24,315)
Value added taxes, or VAT, refunded in connection with acquisition of real estate 0 0 5,035
Capital expenditures (14,039) (6,204) (13,239)
Proceeds from sale of real estate and equity investments 171,300 73,204 12,516
Funding of short-term loans to affiliates (15,000) 0 (96,000)
Proceeds from repayment of short-term loans to affiliates 15,000 0 96,000
Funds placed in escrow (224,122) (46,951) (6,735)
Funds released from escrow 267,189 37,832 2,584
Other investing activities, net 2,608 372 875
Net Cash (Used in) Provided by Investing Activities (6,374) 126,466 (126,084)
Cash Flows — Financing Activities      
Distributions paid (220,395) (113,867) (85,814)
Contributions from noncontrolling interests 65,145 3,291 3,223
Distributions paid to noncontrolling interests (72,059) (7,314) (7,258)
Purchase of noncontrolling interest 0 0 (7,502)
Purchase of treasury stock from related party (40,000) (45,270) 0
Scheduled payments of mortgage principal (391,764) (54,964) (25,327)
Proceeds from mortgage financing 115,567 23,750 45,491
Proceeds from senior credit facility and unsecured term loan 735,000 300,000 251,410
Repayments of senior credit facility (413,000) (280,160) (160,000)
Payment of financing costs and mortgage deposits, net of deposits refunded (2,368) (2,557) (7,778)
(Return) receipt of tenant security deposits (1,843) 1,970 0
Proceeds from exercise of stock options and employee purchase under the employee share purchase plan 2,312 51,644 1,488
Windfall tax benefit associated with stock-based compensation awards 12,817 10,185 2,569
Net Cash (Used in) Provided by Financing Activities (210,588) (113,292) 10,502
Change in Cash and Cash Equivalents During the Year      
Effect of exchange rate changes on cash 2,669 790 70
Net (decrease) increase in cash and cash equivalents (6,385) 94,607 (35,396)
Cash and cash equivalents, beginning of year 123,904 29,297 64,693
Cash and cash equivalents, end of year $ 117,519 $ 123,904 $ 29,297