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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 40,592 $ (55,398)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 289,064 314,148
Amortization of deferred revenue and lease intangibles, net (17,401) (14,766)
Other non-cash amortization 3,109 5,272
Allowance on loans receivable and investments (54) (8,902)
Stock-based compensation 15,796 16,072
Straight-lining of rental income (3,841) (3,863)
Loss on extinguishment of debt, net 0 27,090
Gain on real estate dispositions (2,455) (2,533)
Gain on real estate loan investments 0 (74)
Income tax (benefit) expense (5,805) 503
Loss from unconsolidated entities 4,269 250
Distributions from unconsolidated entities 4,356 3,897
Other (24,324) (14,379)
Changes in operating assets and liabilities:    
Increase in other assets (18,177) (5,100)
Decrease in accrued interest (13,201) (20,234)
Increase (decrease) in accounts payable and other liabilities 2,625 (4,390)
Net cash provided by operating activities 274,553 237,593
Cash flows from investing activities:    
Net investment in real estate property (343,792) (210)
Investment in loans receivable (5,117) (186)
Proceeds from real estate disposals 6,124 8,083
Proceeds from loans receivable 177 16,419
Development project expenditures (37,591) (58,598)
Capital expenditures (36,728) (29,674)
Investment in unconsolidated entities (23,790) (38,452)
Insurance proceeds for property damage claims 3,391 6
Net cash used in investing activities (437,326) (102,612)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities (9,867) 5,144
Net change in borrowings under commercial paper program 356,674 214,978
Proceeds from debt 70,029 31,157
Repayment of debt (65,000) (445,050)
Purchase of noncontrolling interests (170) 0
Payment of deferred financing costs (427) (17,343)
Issuance of common stock, net 0 11,075
Cash distribution to common stockholders (180,021) (168,763)
Cash distribution to redeemable OP unitholders (1,534) (1,842)
Cash issued for redemption of OP Units 0 (25)
Contributions from noncontrolling interests 19 5
Distributions to noncontrolling interests (3,983) (2,653)
Proceeds from stock option exercises 5,794 2,106
Other (6,132) (5,856)
Net cash provided by (used in) financing activities 165,382 (377,067)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,609 (242,086)
Effect of foreign currency translation 241 658
Cash, cash equivalents and restricted cash at beginning of period 196,597 451,640
Cash, cash equivalents and restricted cash at end of period 199,447 210,212
Assets acquired and liabilities assumed from acquisitions and other:    
Real estate investments 3,171 468
Other assets 47 0
Other liabilities 2,624 0
Deferred income tax liability 594 0
Noncontrolling interests $ 0 $ 468