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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 134,507 $ 75,343
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 179,225 177,733
Stock-based compensation amortization expense 3,287 4,721
Amortization of deferred financing costs 2,821 2,689
Straight-line rents (747) (11,158)
Amortization of nonrefundable entrance fees and above (below) market lease intangibles (25,690) (24,725)
Equity loss (income) from unconsolidated joint ventures (1,816) (2,148)
Distributions of earnings from unconsolidated joint ventures 185 237
Loss (gain) on sale of real estate under direct financing leases 0 (22,693)
Deferred income tax expense (benefit) (402) (79)
Impairments and loan loss reserves (recoveries), net (2,213) 132
Loss (gain) on sales of real estate, net (81,578) (3,785)
Casualty-related loss (recoveries), net 529 0
Other non-cash items 1,698 (1,593)
Changes in:    
Decrease (increase) in accounts receivable and other assets, net (19,949) (4,144)
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue (15,936) 3,653
Net cash provided by (used in) operating activities 173,921 194,183
Cash flows from investing activities:    
Acquisitions of real estate (10,219) (134,067)
Development, redevelopment, and other major improvements of real estate (204,889) (178,285)
Leasing costs, tenant improvements, and recurring capital expenditures (22,789) (22,839)
Proceeds from sales of real estate, net 141,559 13,265
Investments in unconsolidated joint ventures (9,640) (1,486)
Distributions in excess of earnings from unconsolidated joint ventures 3,210 3,875
Proceeds from insurance recovery 2,650 0
Proceeds from sales/principal repayments on loans receivable, direct financing leases, and marketable debt securities 158,381 75,435
Investments in loans receivable and other (1,918) (1,860)
Net cash provided by (used in) investing activities 56,345 (245,962)
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 3,372,255 3,732,668
Repayments under bank line of credit and commercial paper (3,811,861) (3,567,830)
Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt 399,532 0
Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt (1,325) (1,270)
Payments for debt extinguishment and deferred financing costs (4,175) 0
Issuance of common stock and exercise of options, net of offering costs (151) (4)
Repurchase of common stock (6,467) (11,352)
Dividends paid on common stock (164,976) (163,447)
Distributions to and purchase of noncontrolling interests (22,803) (7,509)
Contributions from and issuance of noncontrolling interests 96 233
Net cash provided by (used in) financing activities (239,875) (18,511)
Net increase (decrease) in cash, cash equivalents, and restricted cash (9,609) (70,290)
Cash, cash equivalents, and restricted cash, beginning of period 126,834 219,448
Cash, cash equivalents, and restricted cash, end of period $ 117,225 $ 149,158