XML 118 R9.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net loss $ (404,057) $ (30,155)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization of discount and net origination fees on loans receivable and debt securities (594) (5,426)
Paid-in-kind interest added to loan principal, net of interest received (21,218) (9,780)
Straight-line rents (2,069) (5,529)
Amortization of above- and below-market lease values, net (3,506) (3,643)
Amortization of deferred financing costs and debt discount and premium 15,260 19,594
Equity method earnings (97,291) (38,487)
Distributions of income from equity method investments 20,496 26,923
Provision for loan loss 0 3,611
Allowance for doubtful accounts 404 4,389
Impairment of real estate and related intangibles and right-of-use assets 308,268 25,622
Goodwill impairment 79,000 0
Depreciation and amortization 137,491 150,797
Equity-based compensation 8,249 6,663
Unrealized settlement loss 3,890 0
Gain on sales of real estate, net (7,932) (52,301)
Payment of cash collateral on derivative (6,641) (31,054)
Deferred income tax benefit (9,138) (840)
Other loss, net 9,279 49,077
Increase in other assets and due from affiliates (6,406) (3,584)
Decrease in accrued and other liabilities and due to affiliates (81,407) (37,205)
Other adjustments, net (1,747) (2,036)
Net cash provided by (used in) operating activities (59,669) 66,636
Cash Flows from Investing Activities    
Contributions to and acquisition of equity investments (126,837) (101,335)
Return of capital from equity method investments 29,386 18,310
Acquisition of loans receivable and debt securities 0 (451)
Net disbursements on originated loans (63,812) (21,892)
Repayments of loans receivable 49,133 89,199
Proceeds from sales of loans receivable and debt securities 0 13,373
Cash receipts in excess of accretion on purchased credit-impaired loans 0 8,607
Acquisition of and additions to real estate, related intangibles and leasing commissions (78,283) (1,267,762)
Proceeds from sales of real estate 126,741 294,667
Proceeds from paydown and maturity of debt securities 1,623 3,338
Proceeds from sale of equity investments 231,078 19,505
Investment deposits (3,593) (14,294)
Net receipts on settlement of derivatives 3,227 19,608
Other investing activities, net (1,742) 14,176
Net cash provided by (used in) investing activities 166,921 (924,951)
Cash Flows from Financing Activities    
Dividends paid to preferred stockholders (23,785) (27,137)
Dividends paid to common stockholders (53,657) (53,426)
Repurchase of common stock (24,749) (10,734)
Borrowings from corporate credit facility 600,000 0
Borrowings from secured debt 8,052 1,169,777
Repayments of secured debt (111,678) (498,259)
Payment of deferred financing costs (140) (16,700)
Contributions from noncontrolling interests 87,083 247,033
Distributions to and redemptions of noncontrolling interests (68,320) (129,734)
Redemption of preferred stock (402,855) 0
Shares canceled for tax withholdings on vested stock awards (5,069) (3,007)
Other financing activities, net 0 (1,138)
Net cash provided by financing activities 4,882 676,675
Effect of exchange rates on cash, cash equivalents and restricted cash (3,650) (1,196)
Net increase (decrease) in cash, cash equivalents and restricted cash 108,484 (182,836)
Cash, cash equivalents and restricted cash, beginning of period 1,424,698 832,730
Cash, cash equivalents and restricted cash, end of period 1,533,182 649,894
Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets    
Cash and cash equivalents 1,205,190 461,912
Restricted cash 203,923 364,605
Restricted cash included in assets held for sale 15,585 6,213
Cash, cash equivalents and restricted cash, beginning of period 1,424,698 832,730
Cash and cash equivalents 1,361,769 321,199
Restricted cash 166,568 323,503
Restricted cash included in assets held for sale 4,845 5,192
Cash, cash equivalents and restricted cash, end of period $ 1,533,182 $ 649,894