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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 163,893 $ 190,706
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 502,717 376,798
Stock-based compensation amortization expense 8,180 7,532
Merger-related post-combination stock compensation expense 16,223 0
Amortization of deferred financing costs and debt discounts (premiums) 11,840 5,774
Straight-line rents (22,545) (5,431)
Amortization of nonrefundable entrance fees and above (below) market lease intangibles (58,415) (54,910)
Equity loss (income) from unconsolidated joint ventures (2,427) (4,545)
Distributions of earnings from unconsolidated joint ventures 7,761 352
Deferred income tax expense (benefit) 11,066 (901)
Impairments and loan loss reserves (recoveries), net 10,905 394
Loss (gain) on sales of real estate, net (125,299) (86,463)
Loss (gain) upon change of control, net (77,978) (234)
Casualty-related loss (recoveries), net (1,257) (266)
Other non-cash items (841) 2,505
Changes in:    
Decrease (increase) in accounts receivable and other assets, net 19,334 9,656
Increase (decrease) in accounts payable, accrued liabilities, and deferred revenue 5,607 30,770
Net cash provided by (used in) operating activities 468,764 471,737
Cash flows from investing activities:    
Acquisitions of real estate 0 (15,770)
Development, redevelopment, and other major improvements of real estate (229,544) (394,141)
Leasing costs, tenant improvements, and recurring capital expenditures (53,235) (42,233)
Proceeds from sales of real estate, net 369,475 141,651
Proceeds from the Callan Ridge JV transaction, net 125,662 0
Investments in unconsolidated joint ventures (37,423) (28,214)
Distributions in excess of earnings from unconsolidated joint ventures 15,757 6,420
Proceeds from insurance recovery 4,090 14,265
Proceeds from sales/principal repayments on loans receivable and marketable debt securities 86,210 184,299
Investments in loans receivable and other (12,031) (4,946)
Cash paid in connection with the Merger, net (179,215) 0
Net cash provided by (used in) investing activities 89,746 (138,669)
Cash flows from financing activities:    
Borrowings under bank line of credit and commercial paper 3,146,000 6,014,005
Repayments under bank line of credit and commercial paper (3,841,000) (6,680,611)
Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt 750,000 743,778
Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt (1,963) (2,619)
Payments for deferred financing costs (5,438) (7,322)
Issuance of common stock and exercise of options, net of offering costs 174 (298)
Repurchase of common stock (170,229) (6,474)
Dividends paid on common stock (375,143) (328,930)
Distributions to and purchase of noncontrolling interests (70,651) (31,126)
Contributions from and issuance of noncontrolling interests 12 220
Net cash provided by (used in) financing activities (568,238) (299,377)
Net increase (decrease) in cash, cash equivalents, and restricted cash (9,728) 33,691
Cash, cash equivalents, and restricted cash, beginning of period 169,023 126,834
Cash, cash equivalents, and restricted cash, end of period $ 159,295 $ 160,525