XML 21 R8.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ (55,398) $ 474,730
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 314,148 248,837
Amortization of deferred revenue and lease intangibles, net (14,766) (2,973)
Other non-cash amortization 5,272 3,851
Allowance on loans receivable and investments (8,902) 0
Stock-based compensation 16,072 10,514
Straight-lining of rental income (3,863) (6,788)
Loss on extinguishment of debt, net 27,090 0
Gain on real estate dispositions (2,533) (226,225)
Gain on real estate loan investments (74) (167)
Income tax expense (benefit) 503 (150,273)
Loss from unconsolidated entities 250 10,876
Distributions from unconsolidated entities 3,897 1,600
Other (14,379) 3,805
Changes in operating assets and liabilities:    
Increase in other assets (5,100) (13,768)
Decrease in accrued interest (20,234) (23,032)
Decrease in accounts payable and other liabilities (4,390) (16,535)
Net cash provided by operating activities 237,593 314,452
Cash flows from investing activities:    
Net investment in real estate property (210) (79,539)
Investment in loans receivable (186) (1,051)
Proceeds from real estate disposals 8,083 625,439
Proceeds from loans receivable 16,419 99,117
Development project expenditures (58,598) (94,229)
Payments for Capital Improvements (29,674) (26,789)
Investment in unconsolidated entities (38,452) (5,809)
Insurance proceeds for property damage claims 6 42
Net cash (used in) provided by investing activities (102,612) 517,181
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities 5,144 2,762,153
Net change in borrowings under commercial paper program 214,978 (565,524)
Proceeds from debt 31,157 82,759
Repayment of debt (445,050) (62,973)
Payment of deferred financing costs (17,343) (1,963)
Issuance of common stock, net 11,075 0
Cash distribution to common stockholders (168,763) (296,304)
Cash distribution to redeemable OP unitholders (1,842) (2,325)
Cash issued for redemption of OP Units (25) (570)
Contributions from noncontrolling interests 5 155
Distributions to noncontrolling interests (2,653) (2,543)
Proceeds from stock option exercises 2,106 3,389
Other (5,856) (4,954)
Net cash (used in) provided by financing activities (377,067) 1,911,300
Net (decrease) increase in cash, cash equivalents and restricted cash (242,086) 2,742,933
Effect of foreign currency translation 658 (2,776)
Cash, cash equivalents and restricted cash at beginning of period 451,640 146,102
Cash, cash equivalents and restricted cash at end of period 210,212 2,886,259
Assets and liabilities assumed from acquisitions and other:    
Real estate investments 468 533
Other assets 0 56
Other liabilities 0 398
Noncontrolling interests $ 468 $ 191