XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 2,453 $ 95,664
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 873,620 878,444
Amortization of deferred revenue and lease intangibles, net (48,462) (71,620)
Other non-cash amortization 9,483 14,686
Allowance on loans receivable and investments (179) (9,021)
Stock-based compensation 28,786 26,165
Straight-lining of rental income (10,131) (10,166)
Loss on extinguishment of debt, net 581 56,808
Gain on real estate dispositions (2,557) (194,083)
Gain on real estate loan investments 0 (2,006)
Income tax (benefit) expense (16,961) 4,656
Loss (income) and other from unconsolidated entities 3,352 (7,279)
Distributions from unconsolidated entities 15,467 9,466
Other 36,422 (830)
Changes in operating assets and liabilities:    
Increase in other assets (53,433) (49,051)
Decrease in accrued interest (12,772) (22,414)
Increase in accounts payable and other liabilities 27,241 40,896
Net cash provided by operating activities 852,910 760,315
Cash flows from investing activities:    
Net investment in real estate property (439,299) (1,103,210)
Investment in loans receivable (5,337) (384)
Proceeds from real estate disposals 12,481 497,303
Proceeds from loans receivable 692 302,700
Development project expenditures (126,988) (204,649)
Capital expenditures (154,761) (119,311)
Distributions from unconsolidated entities 28,311 17,847
Investment in unconsolidated entities (50,402) (107,140)
Insurance proceeds for property damage claims 9,982 501
Net cash used in investing activities (725,321) (716,343)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facilities (19,442) (144,065)
Net change in borrowings under commercial paper program 97,066 369,943
Proceeds from debt 888,927 914,879
Repayment of debt (513,606) (1,499,036)
Purchase of noncontrolling interests (170) (11,485)
Payment of deferred financing costs (7,664) (23,608)
Issuance of common stock, net 0 617,438
Cash distribution to common stockholders (540,205) (506,972)
Cash distribution to redeemable OP unitholders (4,732) (5,400)
Cash issued for redemption of OP Units (328) (96)
Contributions from noncontrolling interests 51 35
Distributions to noncontrolling interests (27,152) (11,785)
Proceeds from stock option exercises 8,691 5,668
Other (6,392) (5,128)
Net cash used in financing activities (124,956) (299,612)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,633 (255,640)
Effect of foreign currency translation (3,592) 522
Cash, cash equivalents and restricted cash at beginning of period 196,597 451,640
Cash, cash equivalents and restricted cash at end of period 195,638 196,522
Assets acquired and liabilities assumed from acquisitions and other:    
Real estate investments 16,599 1,317,617
Other assets 856 16,132
Debt 0 484,073
Other liabilities 7,747 97,960
Deferred income tax liability 960 0
Noncontrolling interests 3,351 468
Equity issued 0 751,248
Equity issued for redemption of OP Units 0 76
Investment in unconsolidated entities $ 8,100 $ 0