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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net (loss) income $ (12,253) $ 528,813
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 148,267 179,039
Equity in net loss from unconsolidated joint ventures 31,262 31,321
Distributions of cumulative earnings from unconsolidated joint ventures 448 719
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 131 5,438
Purchase price and other fair value adjustments 7,348 (209,527)
Depreciable real estate reserves and impairment 0 5,696
Loss (gain) on sale of real estate, net 61,104 (285,338)
Deferred rents receivable (1,371) (6,963)
Non-cash lease expense 17,332 11,670
Other non-cash adjustments (11,950) 27,868
Changes in operating assets and liabilities:    
Tenant and other receivables 7,800 (11,827)
Related party receivables 5,803 (4,626)
Deferred lease costs (10,227) (1,267)
Other assets (35,114) (118)
Accounts payable, accrued expenses, other liabilities and security deposits 21,345 (54,009)
Deferred revenue 17,208 7,412
Lease liability - operating leases 2,495 (33,289)
Net cash provided by operating activities 249,628 191,012
Investing Activities    
Acquisitions of real estate property (64,491) (152,791)
Additions to land, buildings and improvements (194,997) (208,380)
Acquisition deposits and deferred purchase price 75,400 0
Investments in unconsolidated joint ventures (146,598) (76,471)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 92,217 749,997
Net proceeds from disposition of real estate/joint venture interest 353,853 541,268
Cash and restricted cash assumed from acquisition of real estate investment 60,494 0
Cash assumed from consolidation of real estate investment 0 9,475
Proceeds from sale or redemption of marketable securities 11,465 4,528
Purchases of marketable securities 0 (10,000)
Other investments 1,619 2,401
Origination of debt and preferred equity investments (40,053) (83,924)
Repayments or redemption of debt and preferred equity investments 124,405 110,774
Net cash provided by investing activities 273,314 886,877
Financing Activities    
Proceeds from mortgages and other loans payable 381,980 31,219
Repayments of mortgages and other loans payable (290,936) (372,300)
Proceeds from revolving credit facility and unsecured notes 1,124,000 925,000
Repayments of revolving credit facility and unsecured notes (1,364,000) (1,165,000)
Proceeds from stock options exercised and DRSPP issuance 339 613
Repurchase of common stock (151,197) (280,623)
Redemption of preferred stock (17,967) (3,631)
Redemption of OP units (35,316) (13,930)
Distributions to noncontrolling interests in other partnerships (3,168) (5,403)
Contributions from noncontrolling interests in other partnerships 52,164 310
Acquisition of subsidiary interest from noncontrolling interest (29,817) 0
Distributions to noncontrolling interests in the Operating Partnership (12,635) (11,882)
Dividends paid on common and preferred stock (197,124) (205,131)
Other obligations related to secured borrowing 77,874 0
Tax withholdings related to restricted share awards (3,915) (2,989)
Deferred loan costs (5,130) (570)
Principal payments of on financing lease liabilities 0 (434)
Net cash used in financing activities (474,848) (1,104,751)
Net increase (decrease) in cash, cash equivalents, and restricted cash 48,094 (26,862)
Cash, cash equivalents, and restricted cash at beginning of year 336,984 372,795
Cash, cash equivalents, and restricted cash at end of period 385,078 345,933
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Redemption of units in the Operating Partnership for a joint venture sale 0 27,586
Exchange of preferred equity investment for real estate or equity in joint venture 190,652 0
Exchange of debt investment for real estate or equity in joint venture 193,995 9,468
Assumption of mortgage and mezzanine loans 1,712,750 60,000
Issuance of special dividend paid primarily in stock 160,620 121,418
Tenant improvements and capital expenditures payable 18,518 16,684
Fair value adjustment to noncontrolling interest in the Operating Partnership 23,539 17,245
Consolidation of real estate investment 0 119,444
Deconsolidation of a subsidiary 0 66,837
Deconsolidation of a subsidiary mortgage 0 510,000
Extinguishment of debt in connection with property dispositions 0 53,548
Debt and preferred equity investments 302 8,372
Removal of fully depreciated commercial real estate properties 4,048 7,030
Distributions to noncontrolling interests 0 358
Share repurchase payable 0 3,779
Sale of interest in partially owned entity 0 4,476
Recognition of right of use assets and related lease liabilities 57,938 115,812
Cash and cash equivalents 201,267 257,941
Restricted cash 183,811 87,992
Total cash, cash equivalents, and restricted cash $ 385,078 $ 345,933