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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 423,793 $ 221,004
Adjustments to net income:    
Depreciation and amortization 813,199 365,774
Amortization of share-based compensation 11,643 8,169
Non-cash revenue adjustments (25,332) (8,233)
(Gain) loss on extinguishment of debt (127) 46,473
Amortization of deferred financing costs 7,081 5,490
Loss on interest rate swaps 1,446 1,447
Foreign currency and derivative gain, net (6,890) (1,204)
Gain on sales of real estate (50,728) (23,302)
Equity in income and impairment of investment in unconsolidated entities 5,673 0
Distributions from unconsolidated entities 1,490 0
Provisions for impairment on real estate 14,729 19,966
Change in assets and liabilities    
Accounts receivable and other assets 134,019 (67,970)
Accounts payable, accrued expenses and other liabilities (34,921) 14,143
Net cash provided by operating activities 1,256,561 581,134
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (3,166,063) (2,102,042)
Improvements to real estate, including leasing costs (29,654) (3,997)
Proceeds from sales of real estate 272,245 91,616
Return of investment from unconsolidated entities 746 0
Insurance proceeds received 16,046 0
Non-refundable escrow deposits (13,815) (11,153)
Net cash used in investing activities (2,920,495) (2,025,576)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (884,109) (524,056)
Borrowings on line of credit and commercial paper program 9,366,868 5,403,699
Payments on line of credit and commercial paper program (9,724,268) (4,097,909)
Proceeds from notes and bonds payable issued 1,405,691 0
Principal payment on notes payable 0 (950,000)
Principal payments on mortgages payable (225,951) (42,590)
Payments upon extinguishment of debt 0 (47,235)
Proceeds from dividend reinvestment and stock purchase plan 5,731 5,322
Proceeds from common stock offerings, net 1,712,696 1,119,254
Distributions to noncontrolling interests (1,776) (791)
Net receipts on derivative settlements 7,474 1,650
Debt issuance costs (27,272) 0
Other items, including shares withheld upon vesting (4,899) (5,564)
Net cash provided by financing activities 1,630,185 861,780
Effect of exchange rate changes on cash and cash equivalents (24,955) (1,032)
Net decrease in cash, cash equivalents and restricted cash (58,704) (583,694)
Cash, cash equivalents and restricted cash, beginning of period 332,369 850,679
Cash, cash equivalents and restricted cash, end of period 273,665 266,985
Mortgages payable    
Adjustments to net income:    
Amortization of net premiums (7,091) (485)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable (226,000) (42,600)
Notes payable    
Adjustments to net income:    
Amortization of net premiums $ (31,423) $ (138)