XML 22 R9.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net loss $ (3,484,280) $ (1,080,643)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Amortization of discount and net origination fees on loans receivable and debt securities (5,090) (15,215)
Paid-in-kind interest added to loan principal, net of interest received (36,856) (42,609)
Straight-line rents (13,916) (13,263)
Amortization of above- and below-market lease values, net (5,503) (9,982)
Amortization of deferred financing costs and debt discount and premium 31,061 61,779
Equity method losses 334,648 137,069
Distributions of income from equity method investments 92,445 78,219
Provision for loan losses 0 35,847
Allowance for doubtful accounts 8,655 4,221
Impairment of real estate and related intangibles and right-of-use assets 1,946,786 288,216
Goodwill impairment 594,000 387,000
Depreciation and amortization 439,463 476,886
Equity-based compensation 26,415 25,051
Unrealized settlement loss 3,890 0
Gain on sales of real estate, net (15,261) (71,824)
Payment of cash collateral on derivative (771) (223,886)
Deferred income tax expense (10,602) (1,778)
Other loss, net 195,805 181,847
Decrease (increase) in other assets and due from affiliates 10,344 (16,487)
(Increase) decrease in accrued and other liabilities and due to affiliates (16,764) 39,038
Other adjustments, net (4,583) (4,896)
Net cash provided by operating activities 89,886 234,590
Cash Flows from Investing Activities    
Contributions to and acquisition of equity investments (289,091) (222,157)
Return of capital from equity method investments 123,952 176,508
Acquisition of loans receivable and debt securities 0 (771)
Net disbursements on originated loans (180,756) (94,816)
Repayments of loans receivable 131,368 228,480
Proceeds from sales of loans receivable and debt securities 0 66,249
Cash receipts in excess of accretion on purchased credit-impaired loans 0 18,886
Acquisition of and additions to real estate, related intangibles and leasing commissions (1,278,957) (1,798,039)
Proceeds from sales of real estate 258,440 659,245
Proceeds from paydown and maturity of debt securities 4,479 9,180
Proceeds from sale of equity investments 254,921 152,658
Investment deposits (8,150) (13,210)
Net receipts on settlement of derivatives 27,097 43,938
Acquisition of DBH, net of cash acquired, and payment of deferred purchase price (Note 3) (32,500) (181,167)
Other investing activities, net 7,274 17,349
Net cash used in investing activities (981,923) (937,667)
Cash Flows from Financing Activities    
Dividends paid to preferred stockholders (60,817) (81,411)
Dividends paid to common stockholders (106,510) (160,490)
Repurchase of common stock (24,749) (10,734)
Payments of Stock Issuance Costs (2,962) 0
Proceeds from issuance of exchangeable senior notes 291,000 0
Repurchase of convertible senior notes (370,998) 0
Borrowings from corporate credit facility 600,000 740,200
Repayment of borrowings from corporate credit facility (600,000) (556,000)
Borrowings from secured debt 33,407 3,269,413
Repayments of secured debt (323,150) (2,647,109)
Payment of deferred financing costs (8,530) (56,542)
Contributions from noncontrolling interests 1,353,866 557,065
Distributions to and redemptions of noncontrolling interests (261,314) (443,614)
Contribution from Wafra 253,575 0
Redemption of preferred stock (402,855) 0
Shares canceled for tax withholdings on vested stock awards (6,738) (3,401)
Other financing activities, net 0 (1,504)
Net cash (used in) provided by financing activities 363,225 605,873
Effect of exchange rates on cash, cash equivalents and restricted cash 3,500 (6,449)
Net decrease in cash, cash equivalents and restricted cash (525,312) (103,653)
Cash, cash equivalents and restricted cash, beginning of period 1,424,698 832,730
Cash, cash equivalents and restricted cash, end of period 899,386 729,077
Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets    
Cash, cash equivalents and restricted cash $ 899,386 $ 729,077