XML 21 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities    
Net income (loss) $ (48,817) $ (130,709)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Loss on extinguishment of debt, net 139 44
Depreciation and amortization, net 129,447 220,808
Asset impairment 3,375 0
Equity in earnings of unconsolidated ventures (1,018) (1,484)
Distributions from unconsolidated ventures from cumulative share of net earnings 0 500
Amortization of deferred gain (1,093) (1,093)
Amortization of entrance fees (926) (767)
Proceeds from deferred entrance fee revenue 3,087 2,455
Deferred income tax benefit 934 (79,237)
Change in deferred lease liability 3,935 2,801
Change in fair value of derivatives 24 550
Gain on sale of assets (2,749) 0
Non-cash stock-based compensation 9,769 8,873
Non-cash interest expense on financing leases 6,439 5,700
Amortization of (above) below market rents, net (1,733) (1,959)
Other (2,330) 0
Changes in operating assets and liabilities:    
Accounts receivable, net (2,738) (13,140)
Prepaid expenses and other assets, net (36,554) 24,504
Accounts payable and accrued expenses (1,388) (38,773)
Tenant refundable fees and security deposits (226) (510)
Deferred revenue 12,766 11,494
Net cash provided by operating activities 70,343 10,057
Cash Flows from Investing Activities    
(Increase) decrease in lease security deposits and lease acquisition deposits, net (1,210) 13,037
Decrease in cash and escrow deposits - restricted 72 12,289
Additions to property, plant and equipment and leasehold intangibles, net (108,510) (79,129)
Acquisition of assets, net of related payables and cash received (12,157) (174,305)
Investment in unconsolidated ventures (2,365) (3,923)
Distributions received from unconsolidated ventures 1,724 0
Proceeds from sale of assets, net 45,584 0
Other 2,414 740
Net cash used in investing activities (74,448) (231,291)
Cash Flows from Financing Activities    
Proceeds from debt 177,370 85,365
Repayment of debt and capital and financing lease obligations (84,016) (47,555)
Proceeds from line of credit 357,000 445,000
Repayment of line of credit (457,000) (245,000)
Payment of financing costs, net of related payables (818) (1,481)
Refundable entrance fees:    
Proceeds from refundable entrance fees 535 36
Refunds of entrance fees (1,128) (829)
Cash portion of loss on extinguishment of debt 0 (44)
Payment on lease termination (4,625) (3,875)
Other (380) 716
Net cash (used in) provided by financing activities (13,062) 232,333
Net (decrease) increase in cash and cash equivalents (17,167) 11,099
Cash and cash equivalents at beginning of period 88,029 104,083
Cash and cash equivalents at end of period $ 70,862 $ 115,182