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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 505,622 $ 493,354
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 531,412 506,172
Stock-based compensation amortization expense 14,635 13,895
Amortization of deferred financing costs 8,069 6,677
Straight-line rents (36,837) (23,627)
Amortization of nonrefundable entrance fees and above/below market lease intangibles (75,635) (68,854)
Equity loss (income) from unconsolidated joint ventures (2,205) (9,508)
Distributions of earnings from unconsolidated joint ventures 708 4,731
Loss (gain) on sale of real estate under direct financing leases (22,693) 0
Deferred income tax expense (benefit) (5,199) (3,999)
Impairments and loan loss reserves (recoveries), net 3,678 37,194
Loss (gain) on debt extinguishments 0 225,824
Loss (gain) on sales of real estate, net (11,408) (598,531)
Loss (gain) upon change of control, net (311,438) (1,042)
Casualty-related loss (recoveries), net 6,457 1,632
Other non-cash items (1,029) (8,640)
Changes in:    
Decrease (increase) in accounts receivable and other assets, net (2,751) 27,576
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue 91,920 (31,519)
Net cash provided by (used in) operating activities 693,306 571,335
Cash flows from investing activities:    
Acquisitions of real estate (159,199) (978,473)
Development, redevelopment, and other major improvements of real estate (616,803) (430,510)
Leasing costs, tenant improvements, and recurring capital expenditures (75,103) (72,112)
Proceeds from sales of real estate, net 47,797 2,383,017
Proceeds from the South San Francisco JVs transaction, net 125,985 0
Contributions to unconsolidated joint ventures (9,259) (12,828)
Distributions in excess of earnings from unconsolidated joint ventures 8,746 37,139
Proceeds from sales/principal repayments on loans receivable and direct financing leases 105,040 291,223
Investments in loans receivable and other (5,317) (13,781)
Net cash provided by (used in) investing activities (578,113) 1,203,675
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 12,220,955 12,931,450
Repayments under bank line of credit and commercial paper (11,801,597) (12,037,040)
Issuance and borrowings of debt, excluding bank line of credit and commercial paper 0 591,546
Repayments and repurchase of debt, excluding bank line of credit and commercial paper (3,759) (2,421,598)
Payments for debt extinguishment and deferred financing costs (4,171) (232,306)
Issuance of common stock and exercise of options, net of offering costs 38 4,713
Repurchase of common stock (67,642) (12,553)
Dividends paid on common stock (486,960) (488,084)
Distributions to and purchase of noncontrolling interests (23,275) (24,443)
Contributions from and issuance of noncontrolling interests 894 426
Net cash provided by (used in) financing activities (165,517) (1,687,889)
Net increase (decrease) in cash, cash equivalents and restricted cash (50,324) 87,121
Cash, cash equivalents and restricted cash, beginning of period 219,448 181,685
Cash, cash equivalents and restricted cash, end of period $ 169,124 $ 268,806