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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flow from operating activities    
Net income $ 1,491 $ 59,629
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 159,346 155,537
Amortization of deferred financing costs and debt discount 10,798 10,950
Loss on extinguishment of debt, net 40,458 0
Interest rate cap amortization 545 720
Deferred income taxes (8,539) (8,652)
Cash paid for interest rate cap 0 (2,200)
Straight-line revenues and amortization of below-market lease intangibles (11,661) (17,038)
Stock-based compensation 7,345 6,745
(Gain) loss on asset disposals (408) 294
Gain on sale of real estate 0 (18,999)
Accretion of settlement obligation 1,441 3,660
Other 1,666 (48)
Changes in assets and liabilities:    
Accounts receivable 10,741 (10,296)
Other assets 9,005 7,264
Accounts payable, accrued expenses and other liabilities (38,733) (13,228)
Net cash provided by operating activities 183,495 174,338
Cash flow from investing activities    
Capital expenditures (246,198) (262,758)
Proceeds from sale of other equipment 611 435
Proceeds from sale of real estate 0 40,039
Proceeds from sale of unconsolidated entity 0 40,000
Net cash used in investing activities (245,587) (182,284)
Cash flow from financing activities    
Repayment of debt (900,000) (122,942)
Proceeds from issuance of notes 600,000 309,000
Dividends paid (10) (108,445)
Payments of settlement obligation (49,011) (49,011)
Borrowings under revolving credit facility 40,000 125,000
Payments under revolving credit facility (40,000) (333,000)
Proceeds from ABS Loan Facility and Notes 589,000 275,000
Finance lease payments (1,936) (1,265)
Payments for financing costs (28,119) (15,778)
Costs related to the early repayment of debt (30,982) 0
Distributions paid to noncontrolling interests 0 (37)
Payment for noncontrolling interest (79) (92)
Employee stock purchase program 278 326
Payments related to tax withholding for stock-based compensation (2,303) (1,583)
Net cash provided by financing activities 176,838 77,173
Net increase in cash, restricted cash and cash equivalents 114,746 69,227
Cash, restricted cash and cash equivalents at beginning of period 183,847 62,264
Cash, restricted cash and cash equivalents at end of period 298,593 131,491
Non-cash investing and financing activities:    
Property and equipment acquired but not yet paid 11,450 7,074
Tenant capital improvements $ 222,025 $ 94,049