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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net (loss) income $ (40,931) $ 56,559 $ 441,185
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,197,798 1,197,403 1,109,763
Amortization of deferred revenue and lease intangibles, net (63,543) (88,795) (40,856)
Other non-cash amortization 12,957 17,709 20,719
Allowance on loans receivable and investments 19,757 (9,082) 24,238
Stock-based compensation 30,715 31,966 21,487
Straight-lining of rental income (11,094) (14,468) 103,082
Loss on extinguishment of debt, net 581 59,299 10,791
Gain on real estate dispositions (7,780) (218,788) (262,218)
Gain on real estate loan investments 0 (1,448) (167)
Income tax benefit (21,348) (1,224) (101,985)
Income and other from unconsolidated entities (28,500) (4,973) (1,832)
Distributions from unconsolidated entities 19,847 19,326 4,920
Other 52,489 26,404 (779)
Changes in operating assets and liabilities:      
Increase in other assets (52,897) (54,571) (68,233)
Increase (decrease) in accrued interest 4,915 (5,922) 276
Increase in accounts payable and other liabilities 7,197 16,721 189,785
Net cash provided by operating activities 1,120,163 1,026,116 1,450,176
Cash flows from investing activities:      
Net investment in real estate property (446,628) (1,369,052) (78,648)
Investment in loans receivable (30,700) (489) (115,163)
Proceeds from real estate disposals 112,926 840,438 1,044,357
Proceeds from loans receivable 890 348,091 119,011
Development project expenditures (231,939) (247,694) (380,413)
Capital expenditures (222,130) (185,275) (148,234)
Distributions from unconsolidated entities 28,311 17,847 0
Investment in unconsolidated entities (83,652) (129,291) (286,822)
Insurance proceeds for property damage claims 13,704 1,285 207
Net cash (used in) provided by investing activities (859,218) (724,140) 154,295
Cash flows from financing activities:      
Net change in borrowings under revolving credit facilities (27,179) (125,399) (88,868)
Net change in borrowings under commercial paper program 122,414 279,929 (565,524)
Proceeds from debt 957,781 1,534,298 733,298
Repayments of debt (575,391) (2,109,617) (479,539)
Purchase of noncontrolling interests (170) (24,224) (8,239)
Payment of deferred financing costs (8,824) (27,166) (8,379)
Issuance of common stock, net 0 617,438 55,362
Cash distribution to common stockholders (720,319) (686,888) (928,809)
Cash distribution to redeemable OP unitholders (6,292) (6,761) (7,283)
Cash issued for redemption of OP Units (1,487) (96) (575)
Contributions from noncontrolling interests 5,371 1,731 1,314
Distributions to noncontrolling interests (32,325) (13,577) (12,946)
Proceeds from stock option exercises 8,691 8,169 15,103
Other (6,198) (6,303) (4,936)
Net cash used in financing activities (283,928) (558,466) (1,300,021)
Net (decrease) increase in cash, cash equivalents and restricted cash (22,983) (256,490) 304,450
Effect of foreign currency translation (2,869) 1,447 1,088
Cash, cash equivalents and restricted cash at beginning of year 196,597 451,640 146,102
Cash, cash equivalents and restricted cash at end of year 170,745 196,597 451,640
Supplemental disclosure of cash flow information:      
Interest paid including payments and receipts for derivative instruments 467,556 402,025 429,636
Assets acquired and liabilities assumed from acquisitions and other:      
Real estate investments 16,540 1,319,988 170,484
Other assets 875 16,913 1,224
Debt 0 482,482 55,368
Other liabilities 7,747 102,256 2,707
Deferred income tax liability 960 446 337
Noncontrolling interests 3,351 468 20,259
Equity issued 0 751,248 0
Equity issued for redemption of OP Units 0 76 0
Investment in unconsolidated entities $ 8,100 $ 0 $ 0