XML 20 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities    
Net income (loss) $ (457,234) $ (126,361)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Debt modification and extinguishment costs 35 61
Depreciation and amortization, net 118,211 130,078
Goodwill and asset impairment 430,363 20,706
Equity in loss (earnings) of unconsolidated ventures 4,243 (981)
Distributions from unconsolidated ventures from cumulative share of net earnings 408 439
Amortization of deferred gain (1,090) (1,093)
Amortization of entrance fees (501) (1,198)
Proceeds from deferred entrance fee revenue 1,109 1,927
Deferred income tax provision 15,037 83,310
Straight-line lease (income) expense (6,165) (3,007)
Change in fair value of derivatives (74) 46
(Gain) loss on sale of assets, net (43,431) 603
Non-cash stock-based compensation expense 8,406 7,774
Non-cash interest expense on financing lease obligations 3,383 6,156
Amortization of (above) below market lease, net (1,938) (1,697)
Non-cash management contract termination fee (2,242) 0
Other (156) (1,398)
Changes in operating assets and liabilities:    
Accounts receivable, net 3,488 3,556
Prepaid expenses and other assets, net (24,807) (8,630)
Accounts payable and accrued expenses (21,370) (51,627)
Tenant refundable fees and security deposits (137) (297)
Deferred revenue 12,426 8,406
Net cash provided by operating activities 37,964 66,773
Cash Flows from Investing Activities    
Change in lease security deposits and lease acquisition deposits, net (2,015) (420)
Sale of marketable securities, net 118,273 0
Additions to property, plant and equipment and leasehold intangibles, net (66,592) (48,928)
Acquisition of assets, net of related payables and cash received (27,330) 0
Investment in unconsolidated ventures (8,434) (185,971)
Distributions received from unconsolidated ventures 2,037 1,807
Proceeds from sale of assets, net 75,060 31,675
Property insurance proceeds 156 1,398
Other 0 696
Net cash provided by (used in) investing activities 91,155 (199,743)
Cash Flows from Financing Activities    
Proceeds from debt 30,168 34,455
Repayment of debt and capital and financing lease obligations (44,001) (52,273)
Payment of financing costs, net of related payables (248) (328)
Proceeds from refundable entrance fees, net of refunds 223 (902)
Payments of employee taxes for withheld shares (2,618) (5,112)
Other 372 599
Net cash used in financing activities (16,104) (23,561)
Net increase (decrease) in cash and cash equivalents and restricted cash and escrow deposits 113,015 (156,531)
Cash and cash equivalents and restricted cash and escrow deposits at beginning of period 282,546 277,322
Cash and cash equivalents and restricted cash and escrow deposits at end of period $ 395,561 $ 120,791