XML 69 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating activities      
Net income $ 138,280,000 $ 294,840,000 $ 212,716,000
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization expenses 873,960,000 533,585,000 423,605,000
Other amortization expenses 8,097,000 15,185,000 16,851,000
Provision for loan losses 2,110,000 [1] 27,008,000 [2] 2,010,000 [3]
Impairment of assets 0 29,287,000 12,194,000
Stock-based compensation expense 20,177,000 18,521,000 10,786,000
Loss on derivatives 4,470,000 (1,825,000) 0
Loss (gain) on extinguishment of debt, net (909,000) (775,000) (979,000)
Income (loss) from unconsolidated entities (8,187,000) 2,482,000 5,772,000
Rental income less than (in excess of) cash received (46,068,000) (32,362,000) (31,578,000)
Amortization related to above (below) market leases, net 460,000 165,000 (2,507,000)
Gain (loss) on sales of properties, net (49,138,000) (100,549,000) (61,160,000)
Distributions by unconsolidated entities operating (8,885,000) (17,607,000) (6,149,000)
Increase (decrease) in accrued expenses and other liabilities 67,557,000 38,213,000 10,653,000
Decrease (increase) in receivables and other assets (47,571,000) (18,285,000) (4,744,000)
Net cash provided from (used in) operating activities 988,497,000 818,133,000 588,224,000
Investing activities      
Cash disbursed for acquisitions (3,597,955,000) (2,923,251,000) (4,514,271,000)
Cash disbursed for capital improvements to existing properties (135,832,000) (135,450,000) (89,247,000)
Cash disbursed for construction in progress (247,560,000) (286,410,000) (301,604,000)
Capitalized interest (6,700,000) (9,777,000) (13,164,000)
Investment in real estate loans receivable (117,059,000) (665,094,000) (51,477,000)
Other investments, net of payments (15,634,000) 25,425,000 (22,986,000)
Principal collected on real estate loans receivable 102,886,000 35,020,000 188,811,000
Contributions to unconsolidated entities (99,769,000) (227,735,000) (2,784,000)
Distributions by unconsolidated entities investing 30,853,000 13,136,000 9,135,000
Proceeds from (payments on) derivatives investing (6,803,000) 6,652,000 0
Decrease (increase) in restricted cash 79,957,000 (35,766,000) 30,248,000
Proceeds from sales of real property 482,023,000 610,271,000 247,210,000
Net cash provided from (used in) investing activities (3,531,593,000) (3,592,979,000) (4,520,129,000)
Financing activities      
Net increase (decrease) under unsecured lines of credit arrangements 130,000,000 (610,000,000) 310,000,000
Proceeds from issuance of senior unsecured notes 1,756,192,000 2,025,708,000 1,381,086,000
Payments to extinguish senior unsecured notes (517,625,000) (370,524,000) (3,000)
Secured debt issued 89,208,000 157,418,000 119,030,000
Payments on secured debt (674,103,000) (406,210,000) (83,998,000)
Net proceeds from the issuance of common stock 1,854,637,000 3,581,292,000 2,137,594,000
Net proceeds from issuance of preferred stock 0 277,687,000 696,437,000
Redemption of preferred stock 0 (275,000,000) 0
Decrease (increase) in deferred loan expenses (13,503,000) (7,152,000) (28,867,000)
Contributions by noncontrolling interests 5,072,000 [4] 24,115,000 [4] 8,604,000 [4]
Distributions to noncontrolling interests (35,592,000) [4] (29,353,000) [4] (30,705,000) [4]
Acquisitions of non controlling interests (23,247,000) 0 0
Cash distributions to stockholders (906,275,000) (722,450,000) (544,248,000)
Other financing activities 2,906,000 (403,000) (1,113,000)
Net cash provided from (used in) financing activities 1,667,670,000 3,645,128,000 3,963,817,000
Effect of foreign currency translation on cash and cash equivalents 442,000 0 0
Increase (decrease) in cash and cash equivalents (874,984,000) 870,282,000 31,912,000
Cash and cash equivalents at beginning of period 1,033,764,000 163,482,000 131,570,000
Cash and cash equivalents at end of period 158,780,000 1,033,764,000 163,482,000
Supplemental cash flow information:      
Interest paid 447,108,000 369,511,000 285,884,000
Income taxes paid $ 12,110,000 $ 3,071,189.98 $ 389,000
[1]
Provision and charge-off amounts relate to one active adult community in our seniors housing triple-net segment.
[2]
Provision and charge-off amounts relate to one entrance fee community in our seniors housing triple-net segment.
[3]
Provision and charge-off amounts relate to one hospital in our medical facilities segment.
[4]

Includes amounts attributable to redeemable noncontrolling interests.

See accompanying notes.