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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 147,636 $ 431,448
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 358,222 328,997
Amortization of stock-based compensation 10,021 9,459
Amortization of deferred financing costs 5,377 4,334
Straight-line rents (23,872) (15,336)
Amortization of nonrefundable entrance fees and above/below market lease intangibles (50,054) (45,842)
Equity loss (income) from unconsolidated joint ventures (2,530) (7,100)
Distributions of earnings from unconsolidated joint ventures 476 4,015
Loss (gain) on sale of real estate under direct financing leases (22,693) 0
Deferred income tax expense (benefit) (1,038) (2,538)
Impairments and loan loss reserves (recoveries), net 271 15,168
Loss (gain) on debt extinguishments 0 225,157
Loss (gain) on sales of real estate, net (16,688) (557,138)
Loss (gain) upon change of control, net 0 (1,042)
Casualty-related loss (recoveries), net 78 1,061
Other non-cash items (1,187) (8,057)
Changes in:    
Decrease (increase) in accounts receivable and other assets, net 10,714 32,928
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue 34,935 (55,920)
Net cash provided by (used in) operating activities 449,668 359,594
Cash flows from investing activities:    
Acquisitions of real estate (159,206) (498,142)
Development, redevelopment, and other major improvements of real estate (366,404) (281,829)
Leasing costs, tenant improvements, and recurring capital expenditures (50,745) (43,132)
Proceeds from sales of real estate, net 37,719 2,253,889
Contributions to unconsolidated joint ventures (1,971) (10,168)
Distributions in excess of earnings from unconsolidated joint ventures 5,496 34,586
Proceeds from sales/principal repayments on loans receivable and direct financing leases 77,685 265,934
Investments in loans receivable and other (3,710) (8,842)
Net cash provided by (used in) investing activities (461,136) 1,712,296
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 8,242,327 8,177,450
Repayments under bank line of credit and commercial paper (7,959,733) (7,587,040)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper 0 142,100
Repayments and repurchase of debt, excluding bank line of credit and commercial paper (2,507) (2,170,170)
Payments for debt extinguishment and deferred financing costs 0 (217,468)
Issuance of common stock and exercise of options, net of offering costs (7) 1,170
Repurchase of common stock (11,615) (12,480)
Dividends paid on common stock (325,276) (326,089)
Distributions to and purchase of noncontrolling interests (15,859) (16,745)
Contributions from and issuance of noncontrolling interests 588 0
Net cash provided by (used in) financing activities (72,082) (2,009,272)
Net increase (decrease) in cash, cash equivalents and restricted cash (83,550) 62,618
Cash, cash equivalents and restricted cash, beginning of period 219,448 181,685
Cash, cash equivalents and restricted cash, end of period $ 135,898 $ 244,303