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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ 60,061 $ 1,073,474 $ 422,634
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization of real estate, in-place lease and other intangibles 659,989 549,499 534,726
Amortization of deferred compensation 18,162 16,563 14,258
Amortization of deferred financing costs 10,863 12,612 14,569
Straight-line rents (22,479) (23,138) (23,933)
Equity loss (income) from unconsolidated joint ventures 8,625 2,594 (10,901)
Distributions of earnings from unconsolidated joint ventures 20,114 22,467 44,142
Non-cash lease and management fee termination loss (income), net 0 0 54,641
Deferred income tax expense (benefit) (18,253) (18,525) (5,523)
Impairments (recoveries), net 225,937 55,260 166,384
Loss on extinguishment of debt 58,364 44,162 54,227
Loss (gain) on sales of real estate, net (22,900) (925,985) (356,641)
Loss (gain) on consolidation, net (168,023) (9,154) 0
Casualty-related loss (recoveries), net (3,706) 0 12,053
Loss (gain) on sale of marketable securities 0 0 (50,895)
Other non-cash items (2,569) 2,569 (2,735)
Decrease (increase) in accounts receivable and other assets, net (49,771) 5,686 (24,782)
Increase (decrease) in accounts payable, accrued liabilities and deferred revenue 71,659 40,625 4,817
Net cash provided by (used in) operating activities 846,073 848,709 847,041
Cash flows from investing activities:      
Acquisitions of real estate (1,604,285) (426,080) (560,753)
Development, redevelopment, and other major improvements of real estate (626,904) (503,643) (373,479)
Leasing costs, tenant improvements, and recurring capital expenditures (108,844) (106,193) (115,260)
Proceeds from sales of real estate, net 230,455 2,044,477 1,314,325
Contributions to unconsolidated joint ventures (14,956) (12,203) (46,334)
Distributions in excess of earnings from unconsolidated joint ventures 27,072 26,472 37,023
Proceeds from insurance recovery 9,359 0 0
Proceeds from the RIDEA II transaction, net 0 335,709 462,242
Proceeds from the U.K. JV transaction, net (89,868) (393,997) 0
Proceeds from Divestiture of Interest in Subsidiaries and Affiliates 354,774 0 0
Proceeds from sales/principal repayments on debt investments and direct financing leases 274,150 148,024 558,769
Investments in loans receivable, direct financing leases and other (79,467) (71,281) (30,276)
Net cash provided by (used in) investing activities (1,448,778) 1,829,279 1,246,257
Cash flows from financing activities:      
Borrowings under bank line of credit and commercial paper 7,607,788 1,823,000 1,244,189
Repayments under bank line of credit and commercial paper (7,597,047) (2,755,668) (1,150,596)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper 2,047,069 223,587 5,395
Repayments and repurchase of debt, excluding bank line of credit and commercial paper (1,654,142) (1,604,026) (1,468,446)
Borrowings under term loan 250,000 0 0
Payments for debt extinguishment and deferred financing costs (80,616) (41,552) (51,415)
Issuance of common stock and exercise of options 795,586 217,656 28,121
Repurchase of common stock (5,043) (3,432) (4,785)
Dividends paid on common stock (720,123) (696,913) (694,955)
Issuance of noncontrolling interests 33,318 299,666 1,615
Distributions to and purchase of noncontrolling interests (29,519) (82,854) (57,584)
Net cash provided by (used in) financing activities 647,271 (2,620,536) (2,148,461)
Effect of foreign exchanges on cash, cash equivalents and restricted cash 245 191 376
Net increase (decrease) in cash, cash equivalents and restricted cash 44,811 57,643 (54,787)
Cash, cash equivalents and restricted cash, beginning of year 139,846 82,203 136,990
Cash, cash equivalents and restricted cash, end of year $ 184,657 $ 139,846 $ 82,203