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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 967,307 $ 442,658
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 655,298 666,735
Amortization of deferred revenue and lease intangibles, net (16,283) (15,307)
Other non-cash amortization 11,186 7,174
Stock-based compensation 19,923 15,885
Straight-lining of rental income, net (17,384) (21,386)
Loss on extinguishment of debt, net 856 3,165
Gain on real estate dispositions (502,288) (31,779)
Gain on real estate loan investments (124) (2,271)
Income tax benefit (15,619) (30,832)
Income from unconsolidated entities (767) (2,151)
Gain on re-measurement of equity interest upon acquisition, net (3,027) 0
Distributions from unconsolidated entities 3,909 5,574
Other 7,439 (1,075)
Changes in operating assets and liabilities:    
(Increase) decrease in other assets (17,598) 1,753
Increase (decrease) in accrued interest 12,688 (10,053)
Decrease in accounts payable and other liabilities (19,277) (21,944)
Net cash provided by operating activities 1,086,239 1,006,146
Cash flows from investing activities:    
Net investment in real estate property (262,123) (1,421,592)
Investment in loans receivable and other (734,033) (154,949)
Proceeds from real estate disposals 532,137 63,561
Proceeds from loans receivable 84,361 194,063
Development project expenditures (210,423) (94,398)
Capital expenditures (83,387) (75,296)
Distributions from unconsolidated entities 5,816 0
Investment in unconsolidated entities (42,399) (6,175)
Net cash used in investing activities (710,051) (1,494,786)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facility 384,738 46,728
Proceeds from debt 1,058,437 876,617
Repayment of debt (1,225,525) (916,505)
Purchase of noncontrolling interests (15,809) (1,604)
Payment of deferred financing costs (26,426) (6,147)
Issuance of common stock, net 73,596 1,265,702
Cash distribution to common stockholders (827,285) (750,402)
Cash distribution to redeemable OP unitholders (5,677) (6,486)
Contributions from noncontrolling interests 4,402 5,926
Distributions to noncontrolling interests (9,248) (5,121)
Other 10,543 16,631
Net cash (used in) provided by financing activities (578,254) 525,339
Net (decrease) increase in cash and cash equivalents (202,066) 36,699
Effect of foreign currency translation on cash and cash equivalents 422 (443)
Cash and cash equivalents at beginning of period 286,707 53,023
Cash and cash equivalents at end of period 85,063 89,279
Assets and liabilities assumed from acquisitions:    
Real estate investments 206,771 59,666
Utilization of funds held for an Internal Revenue Code Section 1031 exchange (84,995) (6,954)
Other assets acquired (5,546) 79,879
Debt assumed 64,629 47,641
Other liabilities 64,090 60,446
Deferred income tax liability (16,116) 2,279
Noncontrolling interest 3,627 22,225
Equity issued for purchase of OP and Class C units $ 22,694 $ 22,970