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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 259,362 $ 505,622
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 561,357 531,412
Stock-based compensation amortization expense 10,966 14,635
Amortization of deferred financing costs 8,828 8,069
Straight-line rents (12,710) (36,837)
Amortization of nonrefundable entrance fees and above (below) market lease intangibles (81,359) (75,635)
Equity loss (income) from unconsolidated joint ventures (6,646) (2,205)
Distributions of earnings from unconsolidated joint ventures 633 708
Loss (gain) on sale of real estate under direct financing leases 0 (22,693)
Deferred income tax expense (benefit) (1,243) (5,199)
Impairments and loan loss reserves (recoveries), net (156) 3,678
Loss (gain) on sales of real estate, net (86,463) (11,408)
Loss (gain) upon change of control, net (234) (311,438)
Casualty-related loss (recoveries), net (759) 6,457
Other non-cash items 4,119 (1,029)
Changes in:    
Decrease (increase) in accounts receivable and other assets, net (9,041) (2,751)
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue 78,340 91,920
Net cash provided by (used in) operating activities 724,994 693,306
Cash flows from investing activities:    
Acquisitions of real estate (15,735) (159,199)
Development, redevelopment, and other major improvements of real estate (582,494) (616,803)
Leasing costs, tenant improvements, and recurring capital expenditures (66,264) (75,103)
Proceeds from sales of real estate, net 141,743 47,797
Proceeds from the South San Francisco JVs transaction, net 0 125,985
Investments in unconsolidated joint ventures (48,486) (9,259)
Distributions in excess of earnings from unconsolidated joint ventures 14,980 8,746
Proceeds from insurance recovery 20,929 0
Proceeds from sales/principal repayments on loans receivable, direct financing leases, and marketable debt securities 184,299 105,040
Investments in loans receivable and other (10,058) (5,317)
Net cash provided by (used in) investing activities (361,086) (578,113)
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 7,799,005 12,220,955
Repayments under bank line of credit and commercial paper (8,370,611) (11,801,597)
Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt 743,778 0
Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt (3,928) (3,759)
Payments for deferred financing costs (7,322) (4,171)
Issuance of common stock and exercise of options, net of offering costs (262) 38
Repurchase of common stock (6,488) (67,642)
Dividends paid on common stock (492,937) (486,960)
Distributions to and purchase of noncontrolling interests (38,515) (23,275)
Contributions from and issuance of noncontrolling interests 465 894
Net cash provided by (used in) financing activities (376,815) (165,517)
Net increase (decrease) in cash, cash equivalents, and restricted cash (12,907) (50,324)
Cash, cash equivalents, and restricted cash, beginning of period 126,834 219,448
Cash, cash equivalents, and restricted cash, end of period $ 113,927 $ 169,124