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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income $ 246,112 $ 193,327
Adjustments to net income:    
Depreciation and amortization 227,641 195,725
Amortization of deferred financing costs and other noncash interest expense 7,357 7,396
Amortization of equity-based compensation 9,249 24,161
Provisions for impairment 12,962 17,350
Net gain on dispositions of real estate (17,013) (32,271)
Loss (income) from non-real estate, equity method investments 2,347 (804)
Distributions received from non-real estate, equity method investment 468  
Noncash revenue and other (4,305) (6,931)
Changes in operating assets and liabilities:    
Other assets 9,344 15,821
Accrued expenses, deferred revenue and other liabilities 7,284 1,004
Net cash provided by operating activities 501,446 414,778
Investing activities    
Acquisition of and additions to real estate (1,097,538) (953,453)
Investment in loans and financing receivables (78,834) (70,744)
Collections of principal on loans and financing receivables 54,616 13,903
Proceeds from dispositions of real estate 177,494 270,897
Contributions made to non-real estate, equity method investment (468)  
Net cash used in investing activities (944,730) (739,397)
Financing activities    
Borrowings under credit facility 724,000 416,000
Repayments under credit facility (631,000) (307,000)
Borrowings under unsecured notes and term loans payable 600,000  
Repayments under unsecured notes and term loans payable   100,000
Borrowings under non-recourse debt obligations of consolidated special purpose entities   514,785
Repayments under non-recourse debt obligations of consolidated special purpose entities (186,791) (207,823)
Financing costs paid (3,024) (10,872)
Proceeds from the issuance of common stock 252,873 191,595
Stock issuance costs paid (3,296) (3,272)
Shares repurchased under stock compensation plans (6,271) (9,345)
Dividends paid (323,166) (293,182)
Net cash provided by financing activities 423,325 190,886
Net decrease in cash, cash equivalents and restricted cash (19,959) (133,733)
Cash, cash equivalents and restricted cash, beginning of period 70,049 176,576
Cash, cash equivalents and restricted cash, end of period 50,090 42,843
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 46,979 37,018
Restricted cash included in other assets 3,111 5,825
Total cash, cash equivalents and restricted cash 50,090 42,843
Supplemental disclosure of noncash investing and financing activities:    
Accrued tenant improvements included in real estate investments 22,773 18,428
Acquisition of real estate assets from borrowers under loans and financing receivables 8,945 42,782
Accrued financing and stock issuance costs 66 101
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest, net of amounts capitalized 127,903 120,575
Cash paid during the period for income and franchise taxes $ 2,572 $ 2,134