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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 5,991 $ 263,270
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 94,425 94,833
Amortization of above and below market lease intangibles, net 2,703 (1,368)
Non-cash interest income adjustments (1,125) (1,174)
Non-cash interest expense 5,323 4,997
Stock-based compensation expense 5,570 3,839
Non-cash lease termination income (9,725) 0
Loss on extinguishment of debt 10,119 0
Straight-line rental income adjustments (10,710) (23,752)
Provision for doubtful accounts, straight-line rental income and loan losses 1,400 539
Net gain on sales of real estate (1,235) (142,431)
Impairment of real estate 105,136 1,413
Loss from unconsolidated joint venture 5,030 1,901
Distributions of earnings from unconsolidated joint venture 6,884 3,610
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets, net (5,289) (2,130)
Accounts payable and accrued liabilities (22,619) 8,006
Net cash provided by operating activities 191,878 211,553
Cash flows from investing activities:    
Acquisition of real estate 0 (213,982)
Origination and fundings of loans receivable (8,823) (28,157)
Origination and fundings of preferred equity investments 0 (945)
Additions to real estate (8,596) (16,817)
Repayments of loans receivable 10,102 38,887
Repayments of preferred equity investments 2,463 375
Investment in unconsolidated joint venture 0 (354,461)
Net proceeds from the sales of real estate 322,736 278,201
Net cash provided by (used in) investing activities 317,882 (296,899)
Cash flows from financing activities:    
Net repayments of revolving credit facility (349,000)  
Net borrowings from revolving credit facility   35,000
Proceeds from issuance of senior unsecured notes 300,000 0
Principal payments on senior unsecured notes (500,000) 0
Principal payments on secured debt (1,703) (2,128)
Payments of deferred financing costs (4,413) (12)
Payments related to extinguishment of debt (6,895) 0
Distributions to noncontrolling interests (73) (72)
Preferred stock redemption 0 (143,750)
Issuance of common stock, net 211,575 (499)
Dividends paid on common and preferred stock (161,735) (164,736)
Net cash used in financing activities (512,244) (276,197)
Net decrease in cash, cash equivalents and restricted cash (2,484) (361,543)
Effect of foreign currency translation on cash, cash equivalents and restricted cash 300 (252)
Cash, cash equivalents and restricted cash, beginning of period 59,658 587,449
Cash, cash equivalents and restricted cash, end of period 57,474 225,654
Supplemental disclosure of cash flow information:    
Interest paid $ 74,631 $ 67,793