XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 423,275 $ 423,793
Adjustments to net income:    
Depreciation and amortization 923,755 813,199
Amortization of share-based compensation 13,923 11,643
Non-cash revenue adjustments (33,420) (25,332)
Gain on extinguishment of debt 0 (127)
Amortization of deferred financing costs 12,568 7,081
(Loss) gain on interest rate swaps (3,600) 1,446
Foreign currency and unrealized derivative loss, net (6,289) (6,890)
Gain on sales of real estate (12,103) (50,728)
Equity in income and impairment of investment in unconsolidated entities (411) 5,673
Distributions from unconsolidated entities 0 1,490
Provisions for impairment on real estate 42,993 14,729
Change in assets and liabilities    
Accounts receivable and other assets 25,733 134,019
Accounts payable, accrued expenses and other liabilities 116,742 (34,921)
Net cash provided by operating activities 1,466,113 1,256,561
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (4,686,800) (3,166,063)
Improvements to real estate, including leasing costs (29,458) (29,654)
Proceeds from sales of real estate 60,460 272,245
Return of investment from unconsolidated entities 3,927 746
Insurance proceeds received 7,198 16,046
Non-refundable escrow deposits (1,935) (13,815)
Net cash used in investing activities (4,646,608) (2,920,495)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (1,012,336) (884,109)
Borrowings on line of credit and commercial paper programs 27,136,997 9,366,868
Payments on line of credit and commercial paper programs (28,911,973) (9,724,268)
Proceeds from term loan 1,029,383 0
Proceeds from notes payable issued 2,074,883 1,405,691
Principal payments on mortgages payable (8,070) (225,951)
Proceeds from common stock offerings, net 2,976,683 1,712,696
Proceeds from dividend reinvestment and stock purchase plan 5,411 5,731
Distributions to noncontrolling interests (3,038) (1,776)
Net (payments) receipts on derivative settlements (9,285) 7,474
Debt issuance costs (25,108) (27,272)
Other items, including shares withheld upon vesting (6,146) (4,899)
Net cash provided by financing activities 3,247,401 1,630,185
Effect of exchange rate changes on cash and cash equivalents 21,075 (24,955)
Net increase (decrease) in cash, cash equivalents and restricted cash 87,981 (58,704)
Cash, cash equivalents and restricted cash, beginning of period 226,881 332,369
Cash, cash equivalents and restricted cash, end of period 314,862 273,665
Mortgages payable    
Adjustments to net income:    
Amortization of net premiums (6,396) (7,091)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable (8,100)  
Notes payable    
Adjustments to net income:    
Amortization of net premiums $ (30,657) $ (31,423)