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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows — Operating Activities      
Net Income $ 136,169 $ 229,208 $ 124,120
Adjustments to net income:      
Depreciation and amortization, including intangible assets and deferred financing costs 121,749 129,712 112,722
Non-cash asset management fee expense and directors’ compensation 29,463 14,953 14,696
Realized and unrealized (gain) loss on foreign currency transactions and other (18,040) 8,746 7,696
Straight-line rent (14,386) (14,900) (17,062)
Equity in losses of equity method investments in real estate in excess of distributions received 14,201 11,745 2,501
Loss (gain) on change in control of interests 13,851 (49,922) 0
Impairment charges 8,959 29,706 1,023
Write-off of real estate, provision for doubtful accounts, and other non-cash adjustments (7,159) (1,453) 2,646
Amortization of rent-related intangibles and deferred rental revenue (6,153) (19,637) (6,076)
Deferred income tax (benefit) expense (4,500) 4,683 4,150
Accretion of commercial mortgage-backed securities and other (3,171) (1,827) (3,760)
Gain on sale of real estate (2,879) (132,858) (2,197)
Loss on extinguishment of debt 1,587 1,136 58
Settlement of derivative asset (26) 0 2,948
Net changes in other operating assets and liabilities (12,631) 2,077 419
Net Cash Provided by Operating Activities 257,034 211,369 243,884
Cash Flows — Investing Activities      
Capital contributions to equity investments in real estate (153,460) (11,048) (39,015)
Proceeds from sale of real estate 111,229 258,293 0
Return of capital from equity investments in real estate 39,974 42,744 34,962
Proceeds from repayment of preferred equity interest 27,000 0 0
Funding for build-to-suit projects (12,021) (13,312) (24,258)
Acquisitions of real estate and direct financing leases (10,822) (203,093) (293,324)
Value added taxes refunded in connection with acquisition of real estate 7,334 23,769 15,194
Other investing activities, net 4,689 2,407 0
Payment of deferred acquisition fees to an affiliate (3,828) (2,631) (6,382)
Capital expenditures on owned real estate (2,958) (10,682) (8,035)
Value added taxes paid in connection with acquisition of real estate (1,941) (5,712) (37,540)
Changes in investing restricted cash 1,480 1,870 6,300
Proceeds from repayment of loan receivable 0 12,600 40,000
Deposits for investments 0 2,501 (1,000)
Proceeds from repayment of debenture 0 610 7,633
Funding of loans receivable 0 0 (42,600)
Net Cash Provided by (Used in) Investing Activities 6,676 98,316 (348,065)
Cash Flows — Financing Activities      
Scheduled payments and prepayments of mortgage principal (458,010) (177,469) (121,267)
Distributions paid (224,964) (220,991) (215,914)
Proceeds from mortgage financing 203,478 266,970 170,233
Proceeds from Senior Credit Facility 119,235 225,693 235,367
Proceeds from issuance of shares, net of issuance costs 102,078 103,618 103,657
Repayments of Senior Credit Facility (68,990) (289,558) (120,400)
Repurchase of shares (61,896) (49,959) (37,091)
Distributions to noncontrolling interests (40,290) (38,228) (35,716)
Contributions from noncontrolling interests 4,001 147 15,928
Payment of financing costs and mortgage deposits, net of deposits refunded (1,058) (2,203) (3,544)
Other financing activities, net (595) (81) 0
Changes in financing restricted cash (10) (462) (962)
Proceeds from notes payable to affiliate 0 0 25,000
Repayment of notes payable to affiliate 0 0 (25,000)
Net Cash Used in Financing Activities (427,021) (182,523) (9,709)
Change in Cash and Cash Equivalents During the Year      
Effect of exchange rate changes on cash 8,770 (6,416) (8,940)
Net (decrease) increase in cash and cash equivalents (154,541) 120,746 (122,830)
Cash and cash equivalents, beginning of year 273,635 152,889 275,719
Cash and cash equivalents, end of year $ 119,094 $ 273,635 $ 152,889