XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flow from operating activities    
Net income (loss) $ 71,859 $ (112,469)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 234,862 231,379
Amortization of deferred financing costs and debt discount 16,774 13,975
Loss on extinguishment of debt, net 0 31,187
Interest rate cap amortization 1,149 0
Deferred income taxes (14,949) (63,196)
Equity in earnings of unconsolidated entities 0 (1,990)
Distributions of cumulative earnings from unconsolidated entities 0 2,959
Cash paid for interest rate cap (2,200) 0
Straight-line revenues and amortization of below-market lease intangibles (24,358) (28,795)
Stock-based compensation 10,120 9,408
Goodwill impairment 0 203,998
Loss (gain) on asset disposals 292 (242)
Gain on sale of real estate (18,999) (1,424)
Accretion of settlement obligation 5,081 8,273
Other 68 2
Changes in assets and liabilities:    
Accounts receivable (5,247) (4,194)
Other assets 12,103 10,530
Accounts payable, accrued expenses and other liabilities (105,475) (108,826)
Net cash provided by operating activities 181,080 190,575
Cash flow from investing activities    
Capital expenditures (327,762) (368,264)
Proceeds from sale of other equipment 528 1,581
Proceeds from sale of real estate 40,039 1,530
Proceeds from sale of unconsolidated entity 40,000 0
Net cash used in investing activities (247,195) (365,153)
Cash flow from financing activities    
Repayment of debt (122,942) (2,263,662)
Proceeds from issuance of notes 309,000 2,600,000
Dividends paid (108,445) (107,395)
Payments of settlement payable (73,516) (73,516)
Borrowings under revolving credit facility 130,000 450,000
Payments under revolving credit facility (333,000) (367,000)
Proceeds from ABS Loan Facility 275,000 0
Finance lease payments (2,020) (1,601)
Payments for financing costs (15,778) (26,955)
Payment for settlement of common stock warrant 0 (56)
Termination of bond hedge option 0 59
Costs related to the early repayment of debt 0 (44,303)
Distributions paid to noncontrolling interests (37) (48)
Payment for noncontrolling interest (92) 0
Employee stock purchase program 656 730
Payments related to tax withholding for stock-based compensation (1,587) (1,359)
Net cash provided by financing activities 57,239 164,894
Net decrease in cash, restricted cash and cash equivalents (8,876) (9,684)
Cash, restricted cash and cash equivalents at beginning of period 62,264 43,803
Cash, restricted cash and cash equivalents at end of period 53,388 34,119
Non-cash investing and financing activities:    
Property and equipment acquired but not yet paid 7,371 12,134
Tenant capital improvements $ 163,592 $ 94,322