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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net (loss) income $ (99,126) $ 64,840
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 88,866 88,370
Non-cash rental and related revenues (10,627) (6,567)
Non-cash interest income (914) (1,135)
Non-cash interest expense 3,645 4,458
Stock-based compensation expense 4,559 4,735
Loss on extinguishment of debt (847) (392)
Provision for loan losses and other reserves 1,916 796
Net loss (gain) on sales of real estate 2,439 (113)
Other-than-temporary impairment of unconsolidated joint venture 164,126 0
Loss from unconsolidated joint venture 10,673 15,803
Distributions of earnings from unconsolidated joint venture 0 7,083
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets, net (2,361) (1,377)
Accounts payable and accrued liabilities (11,777) (8,680)
Net cash provided by operating activities 152,266 168,605
Cash flows from investing activities:    
Acquisition of real estate (62,107) (92,945)
Origination and fundings of loans receivable 0 (1,651)
Origination and fundings of preferred equity investments (3,394) 0
Additions to real estate (21,736) (19,867)
Repayments of loans receivable 1,135 1,610
Repayments of preferred equity investments 513 3,064
Net proceeds from the sales of real estate 8,381 9,516
Distributions in excess of earnings from unconsolidated joint venture 0 1,305
Net cash used in investing activities (77,208) (98,968)
Cash flows from financing activities:    
Net borrowings from revolving credit facility 0 73,000
Principal payments on term loans (110,000) 0
Principal payments on secured debt (1,446) (1,669)
Payments of deferred financing costs (7) (722)
Issuance of common stock, net 172,698 1,860
Dividends paid on common stock (128,050) (154,068)
Net cash used in financing activities (66,805) (81,599)
Net increase (decrease) in cash, cash equivalents and restricted cash 8,253 (11,962)
Effect of foreign currency translation on cash, cash equivalents and restricted cash 159 (376)
Cash, cash equivalents and restricted cash, beginning of period 65,523 49,143
Cash, cash equivalents and restricted cash, end of period 73,935 36,805
Supplemental disclosure of cash flow information:    
Interest paid 45,658 47,667
Supplemental disclosure of non-cash investing activities:    
Decrease in loans receivable and other investments due to acquisition of real estate 0 20,731
Secured debt assumed by buyer in connection with sale of real estate $ 0 $ 14,219