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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 7,343 $ (88,903)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 137,855 133,912
Non-cash rental and related revenues 4,970 10,113
Non-cash interest income (1,683) (1,444)
Non-cash interest expense 8,300 5,389
Stock-based compensation expense 5,367 6,987
Loss on extinguishment of debt 411 1,760
(Recovery of) provision for loan losses and other reserves (12) 1,890
Net loss on sales of real estate 4,581 1,784
Impairment of real estate 72,602 495
Other-than-temporary impairment of unconsolidated joint venture 0 164,126
Loss from unconsolidated joint ventures 9,715 14,691
Other non-cash items 2,167 0
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets, net (5,631) 13,062
Accounts payable and accrued liabilities 2,161 (5,403)
Net cash provided by operating activities 248,146 258,459
Cash flows from investing activities:    
Acquisition of real estate (83,985) (62,116)
Origination and fundings of loans receivable (4,500) 0
Origination and fundings of preferred equity investments (5,813) (4,153)
Additions to real estate (33,809) (29,278)
Escrow deposits for potential investments (836) 0
Repayments of loans receivable 4,885 2,432
Repayments of preferred equity investments 4,173 683
Investment in unconsolidated joint venture (128,019) 0
Net proceeds from the sales of real estate 62,816 15,066
Net cash used in investing activities (185,088) (77,366)
Cash flows from financing activities:    
Net borrowings from revolving credit facility 147,353 0
Proceeds from issuance of senior unsecured notes 0 791,520
Principal payments on term loans (63,750) (455,000)
Principal payments on secured debt (17,030) (2,185)
Payments of deferred financing costs (6) (7,444)
Payment of contingent consideration (2,500) 0
Issuance of common stock, net (4,394) 172,188
Dividends paid on common stock (207,861) (194,311)
Net cash (used in) provided by financing activities (148,188) 304,768
Net (decrease) increase in cash, cash equivalents and restricted cash (85,130) 485,861
Effect of foreign currency translation on cash, cash equivalents and restricted cash 392 34
Cash, cash equivalents and restricted cash, beginning of period 115,886 65,523
Cash, cash equivalents and restricted cash, end of period 31,148 551,418
Supplemental disclosure of cash flow information:    
Interest paid 68,778 66,051
Supplemental disclosure of non-cash investing activities:    
Decrease in loans receivable and other investments due to acquisition of real estate $ 14,311 $ 0