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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 249,398 $ 352,116
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 456,784 441,891
Amortization of deferred revenue and lease intangibles, net (23,837) (10,849)
Other non-cash amortization 8,650 6,584
Stock-based compensation 14,273 13,396
Straight-lining of rental income, net 28,085 (11,155)
Loss on extinguishment of debt, net 10,884 345
Gain on real estate dispositions (35,875) (44,008)
Gain on real estate loan investments (13,202) (4)
Income tax benefit (5,317) (7,104)
Loss (income) from unconsolidated entities 47,110 (17)
Gain on re-measurement of equity interest upon acquisition, net 0 (3,027)
Distributions from unconsolidated entities 2,634 3,134
Other 1,124 1,348
Changes in operating assets and liabilities:    
Decrease in other assets 12,776 16,079
(Decrease) increase in accrued interest (1,504) 4,550
Decrease in accounts payable and other liabilities (41,647) (39,878)
Net cash provided by operating activities 710,336 723,401
Cash flows from investing activities:    
Net investment in real estate property (12,257) (324,492)
Investment in loans receivable and other (211,554) (718,233)
Proceeds from real estate disposals 312,243 104,570
Proceeds from loans receivable 866,097 25,067
Development project expenditures (155,682) (143,269)
Capital expenditures (42,029) (55,952)
Distributions from unconsolidated entities 6,792 0
Investment in unconsolidated entities (40,033) (39,048)
Insurance proceeds for property damage claims 2,329 1,393
Net cash provided by (used in) investing activities 725,906 (1,149,964)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities (197,726) 364,456
Proceeds from debt 750,316 1,028,509
Repayment of debt (1,431,887) (656,536)
Purchase of noncontrolling interests (2,429) (15,809)
Payment of deferred financing costs (6,348) (19,687)
Issuance of common stock, net 0 73,596
Cash distribution to common stockholders (563,395) (550,965)
Cash distribution to redeemable OP Unitholders (3,744) (3,720)
Cash issued for redemption of OP and Class C Units 975 0
Contributions from noncontrolling interests 0 2,227
Distributions to noncontrolling interests (7,808) (4,156)
Other (1,995) 9,702
Net cash (used in) provided by financing activities (1,465,991) 227,617
Net decrease in cash, cash equivalents and restricted cash (29,749) (198,946)
Effect of foreign currency translation (401) 3,288
Cash, cash equivalents and restricted cash at beginning of period 188,253 367,354
Cash, cash equivalents and restricted cash at end of period 158,103 171,696
Assets and liabilities assumed from acquisitions and other:    
Real estate investments 28,916 205,266
Utilization of funds held for an Internal Revenue Code Section 1031 exchange 0 (84,995)
Other assets 4,112 (4,096)
Debt 0 64,629
Other liabilities 15,944 65,754
Deferred income tax liability 0 (16,180)
Noncontrolling interest 0 1,972
Equity issued for redemption of OP and Class C units $ 266 $ 22,359