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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 29,277 $ 298,498
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 137,517 143,301
Amortization of above and below market lease intangibles, net 1,102 4,193
Non-cash interest income adjustments (1,680) (1,722)
Non-cash interest expense 7,846 7,548
Stock-based compensation expense 8,829 6,275
Non-cash lease termination income (9,725) 0
Loss on extinguishment of debt 10,763 0
Straight-line rental income adjustments (14,067) (34,404)
Provision for doubtful accounts, straight-line rental income and loan losses 1,457 9,449
Net gain on sales of real estate (1,216) (142,445)
Impairment of real estate 119,102 1,413
Loss from unconsolidated joint venture 5,635 3,626
Distributions of earnings from unconsolidated joint venture 10,162 6,494
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets, net (7,252) (4,031)
Accounts payable and accrued liabilities (20,769) (15,171)
Net cash provided by operating activities 276,981 283,024
Cash flows from investing activities:    
Acquisition of real estate (14,977) (239,001)
Origination and fundings of loans receivable (9,441) (41,448)
Origination and fundings of preferred equity investments 0 (5,285)
Additions to real estate (15,985) (21,695)
Repayments of loans receivable 13,761 48,282
Repayments of preferred equity investments 3,672 6,491
Investment in unconsolidated joint venture 0 (354,461)
Net proceeds from the sales of real estate 321,715 290,864
Buyout of noncontrolling interests (200) 0
Net cash provided by (used in) investing activities 298,545 (316,253)
Cash flows from financing activities:    
Net repayments of revolving credit facility (424,000) (22,000)
Proceeds from issuance of senior unsecured notes 297,039 0
Principal payments on senior unsecured notes (500,000) 0
Principal payments on secured debt (2,566) (3,202)
Payments of deferred financing costs (14,001) (12)
Payments related to extinguishment of debt (6,897) 0
Distributions to noncontrolling interests (116) (107)
Preferred stock redemption 0 (143,750)
Issuance of common stock, net 302,030 (499)
Dividends paid on common and preferred stock (247,222) (244,978)
Net cash used in financing activities (595,733) (414,548)
Net decrease in cash, cash equivalents and restricted cash (20,207) (447,777)
Effect of foreign currency translation on cash, cash equivalents and restricted cash 211 (156)
Cash, cash equivalents and restricted cash, beginning of period 59,658 587,449
Cash, cash equivalents and restricted cash, end of period 39,662 139,516
Supplemental disclosure of cash flow information:    
Interest paid $ 100,230 $ 111,519