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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 278,008 $ 12,702
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 541,394 469,191
Amortization of deferred compensation 13,392 14,529
Amortization of deferred financing costs 7,670 8,174
Straight-line rents (24,086) (16,220)
Amortization of nonrefundable entrance fees and above/below market lease intangibles (58,849) 0
Equity loss (income) from unconsolidated joint ventures 48,545 10,012
Distributions of earnings from unconsolidated joint ventures 11,928 12,001
Loss (gain) on sale of real estate under direct financing leases (41,670) 0
Deferred income tax expense (benefit) (8,245) (14,468)
Impairments and loan loss reserves (recoveries), net 97,723 115,653
Loss on debt extinguishments 42,912 36,152
Loss (gain) on sales of real estate, net (247,881) (18,708)
Loss (gain) upon change of control, net (173,222) (11,481)
Casualty-related loss (recoveries), net 469 (4,406)
Other non-cash items 653 (1,157)
Decrease (increase) in accounts receivable and other assets, net 22,503 (31,445)
Increase (decrease) in accounts payable, accrued liabilities and deferred revenue 28,480 48,072
Net cash provided by (used in) operating activities 539,724 628,601
Cash flows from investing activities:    
Acquisitions of real estate (340,405) (1,315,168)
Development, redevelopment, and other major improvements of real estate (577,524) (441,416)
Leasing costs, tenant improvements, and recurring capital expenditures (61,329) (62,840)
Proceeds from sales of real estate, net 568,828 165,683
Acquisition of CCRC Portfolio (394,177) 0
Contributions to unconsolidated joint ventures (9,792) (14,067)
Distributions in excess of earnings from unconsolidated joint ventures 6,200 16,166
Proceeds from insurance recovery 0 9,359
Proceeds from sales/principal repayments on debt investments and direct financing leases 125,372 274,025
Investments in loans receivable, direct financing leases and other (83,651) (73,256)
Net cash provided by (used in) investing activities (766,478) (1,441,514)
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 2,025,600 2,690,000
Repayments under bank line of credit and commercial paper (2,118,600) (2,030,000)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper 594,750 1,296,607
Repayments and repurchase of debt, excluding bank line of credit and commercial paper (559,725) (1,308,596)
Borrowings under term loan 0 250,000
Payments for debt extinguishment and deferred financing costs (47,149) (53,225)
Issuance of common stock and exercise of options 1,067,706 510,677
Repurchase of common stock (10,273) (4,931)
Dividends paid on common stock (587,596) (536,660)
Issuance of noncontrolling interests 0 33,318
Distributions to and purchase of noncontrolling interests (22,925) (18,942)
Net cash provided by (used in) financing activities 341,788 828,248
Effect of foreign exchanges on cash, cash equivalents and restricted cash (153) (77)
Net increase (decrease) in cash, cash equivalents and restricted cash 114,881 15,258
Cash, cash equivalents and restricted cash, beginning of period 184,657 139,846
Cash, cash equivalents and restricted cash, end of period $ 299,538 $ 155,104