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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 292,302 $ 453,555
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 243,932 228,201
Other amortization expenses 5,878 4,171
Provision for loan losses 18,690 0
Impairment of assets 0 28,185
Stock-based compensation expense 7,529 11,557
Loss (gain) on derivatives and financial instruments, net (2,487) (7,173)
Loss (gain) on extinguishment of debt, net 15,719 11,707
Loss (income) from unconsolidated entities 9,199 2,429
Rental income less than (in excess of) cash received (26,956) (21,406)
Amortization related to above (below) market leases, net 114 718
Loss (gain) on real estate dispositions, net (167,409) (338,184)
Increase (decrease) in accrued expenses and other liabilities (27,368) (10,707)
Decrease (increase) in receivables and other assets (25,248) 5,591
Net cash provided from (used in) operating activities 343,895 368,644
Investing activities:    
Cash disbursed for acquisitions (237,610) (405,609)
Cash disbursed for capital improvements to existing properties (56,935) (46,547)
Cash disbursed for construction in progress (55,391) (22,735)
Capitalized interest (2,327) (2,336)
Investment in real estate loans receivable (42,964) (27,547)
Principal collected on real estate loans receivable 6,349 90,731
Other investments, net of payments (9,456) (49,279)
Contributions to unconsolidated entities (26,854) (14,366)
Distributions by unconsolidated entities 19,724 14,880
Proceeds from (payments on) derivatives 0 (8,324)
Proceeds from sales of real property 602,732 892,209
Net cash provided from (used in) investing activities 197,268 421,077
Financing activities:    
Net increase (decrease) in unsecured credit facility and commercial paper (727,707) 146,000
Proceeds from issuance of senior unsecured notes 1,036,964 0
Payments to extinguish senior unsecured notes (1,050,000) (450,000)
Net proceeds from the issuance of secured debt 247,163 20,326
Payments on secured debt (128,113) (197,655)
Net proceeds from the issuance of common stock 533,543 7,214
Payments for deferred financing costs and prepayment penalties (19,566) (14,341)
Contributions by noncontrolling interests [1] 27,860 5,734
Distributions to noncontrolling interests [1] (21,830) (12,564)
Cash distributions to stockholders (342,803) (335,508)
Other financing activities (7,716) (4,555)
Net cash provided from (used in) financing activities (452,205) (835,349)
Effect of foreign currency translation on cash, cash equivalents and restricted cash 2,352 444
Increase (decrease) in cash, cash equivalents and restricted cash 91,310 (45,184)
Cash, cash equivalents and restricted cash at beginning of period 316,129 309,303
Cash, cash equivalents and restricted cash at end of period 407,439 264,119
Supplemental cash flow information:    
Interest paid 148,487 104,246
Income taxes paid (received), net $ (250) $ (721)
[1] Includes amounts attributable to redeemable noncontrolling interests.