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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 277,479  
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 128,373 $ 122,700
Amortization of debt issuance costs, bond premiums and original issuance discounts 5,250 4,940
Accretion on financing receivables (8,865) 0
Non-cash adjustment to financing lease liabilities 239 0
(Gains) losses from dispositions of property (51) 93
Deferred income taxes 0 81
Stock-based compensation 11,908 9,400
Straight-line rent adjustments 1,523 (1,656)
Impairment charge on land 3,298 0
Losses on debt extinguishment 2,189 0
Sales-type Lease, Net Investment in Lease, Allowance for Credit Loss, Period Increase (Decrease) 28,878 0
(Increase), decrease    
Other assets 9,231 3,303
Increase, (decrease)    
Accounts payable and accrued expenses 3,851 1,004
Accrued interest 13,250 (1,687)
Accrued salaries and wages (3,231) (1,366)
Other liabilities (14,860) 359
Net cash provided by operating activities 458,462 402,571
Investing activities    
Capital project expenditures (9,918) (1,120)
Capital maintenance expenditures (36) (1,352)
Proceeds from sales of property 51 93
Investment in leases, financing receivables (129,047) 0
Acquisition of real estate (150,126) (487,449)
Net cash used in investing activities (289,076) (489,828)
Financing activities    
Dividends paid (405,120) (308,559)
Distributions to noncontrolling interest (10,277) 0
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings (11,865) (9,756)
ATM Program offering costs (37) 70,228
Proceeds from issuance of long-term debt 424,000 0
Financing costs (7,415) 0
Repayments of long-term debt (876,981) (67)
Net cash used in financing activities (887,695) (248,154)
Net decrease in cash and cash equivalents, including cash classified within assets held for sale (718,309) (335,411)
Less net change in cash classified within assets held for sale 0 3,446
Net decrease in cash and cash equivalents (718,309) (338,857)
Cash and cash equivalents at beginning of period 724,595 486,451
Cash and cash equivalents at end of period $ 6,286 $ 147,594