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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 337,589 $ 55,010
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of real estate, in-place lease and other intangibles 367,764 297,247
Amortization of deferred compensation 8,972 10,358
Amortization of deferred financing costs 5,116 5,440
Straight-line rents (14,544) (5,968)
Amortization of nonrefundable entrance fees and above/below market lease intangibles (37,043) 0
Equity loss (income) from unconsolidated joint ventures 29,065 2,369
Distributions of earnings from unconsolidated joint ventures 11,594 9,050
Loss (gain) on sale of real estate under direct financing leases (41,670) 0
Deferred income tax expense (benefit) (31,947) (7,486)
Impairments and loan loss reserves (recoveries), net 63,173 77,396
Loss on debt extinguishments 24,991 1,135
Loss (gain) on sales of real estate, net (247,732) (19,492)
Loss (gain) upon change of control, net (169,962) (11,501)
Casualty-related loss (recoveries), net 0 (6,579)
Other non-cash items 127 (161)
Decrease (increase) in accounts receivable and other assets, net 13,117 (15,473)
Increase (decrease) in accounts payable, accrued liabilities and deferred revenue 1,213 (10,785)
Net cash provided by (used in) operating activities 319,823 380,560
Cash flows from investing activities:    
Acquisitions of real estate (300,954) (870,148)
Development, redevelopment, and other major improvements of real estate (391,230) (289,885)
Leasing costs, tenant improvements, and recurring capital expenditures (40,572) (38,733)
Proceeds from sales of real estate, net 548,858 157,198
Acquisition of CCRC Portfolio (390,599) 0
Contributions to unconsolidated joint ventures (1,983) (8,541)
Distributions in excess of earnings from unconsolidated joint ventures 3,251 11,612
Proceeds from insurance recovery 0 9,359
Proceeds from sales/principal repayments on debt investments and direct financing leases 109,920 841
Investments in loans receivable, direct financing leases and other (71,961) (60,680)
Net cash provided by (used in) investing activities (535,270) (1,088,977)
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 2,025,600 1,340,000
Repayments under bank line of credit and commercial paper (2,118,600) (890,000)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper 594,750 0
Repayments and repurchase of debt, excluding bank line of credit and commercial paper (257,511) (5,334)
Borrowings under term loan 0 250,000
Payments for debt extinguishment and deferred financing costs (30,508) (10,482)
Issuance of common stock and exercise of options 1,067,195 407,032
Repurchase of common stock (9,998) (4,582)
Dividends paid on common stock (388,050) (354,550)
Issuance of noncontrolling interests 0 3,615
Distributions to and purchase of noncontrolling interests (15,294) (11,041)
Net cash provided by (used in) financing activities 867,584 724,658
Effect of foreign exchanges on cash, cash equivalents and restricted cash (153) (35)
Net increase (decrease) in cash, cash equivalents and restricted cash 651,984 16,206
Cash, cash equivalents and restricted cash, beginning of period 184,657 139,846
Cash, cash equivalents and restricted cash, end of period $ 836,641 $ 156,052