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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income $ 442,342 $ 620,828
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 491,984 464,476
Other amortization expenses 9,761 7,984
Provision for loan losses 18,690 0
Impairment of assets 9,939 32,817
Stock-based compensation expense 15,192 16,725
Loss (gain) on derivatives and financial instruments, net (574) (14,633)
Loss (gain) on extinguishment of debt, net 15,719 12,006
Loss (income) from unconsolidated entities 18,248 1,180
Rental income less than (in excess of) cash received (53,234) 13,544
Amortization related to above (below) market leases, net (2) 1,363
Loss (gain) on real estate dispositions, net (165,727) (348,939)
Distributions by unconsolidated entities 46 21
Increase (decrease) in accrued expenses and other liabilities 55,415 46,718
Decrease (increase) in receivables and other assets (3,317) (15,666)
Net cash provided from (used in) operating activities 854,482 838,424
Investing activities:    
Cash disbursed for acquisitions (2,718,808) (595,596)
Cash disbursed for capital improvements to existing properties (124,176) (111,332)
Cash disbursed for construction in progress (155,409) (62,978)
Capitalized interest (6,256) (4,436)
Investment in real estate loans receivable (62,935) (48,291)
Principal collected on real estate loans receivable 6,840 91,427
Other investments, net of payments (17,640) (48,212)
Contributions to unconsolidated entities (119,001) (32,768)
Distributions by unconsolidated entities 70,844 22,897
Proceeds from (payments on) derivatives (21,643) (27,678)
Proceeds from sales of real property 616,820 947,218
Net cash provided from (used in) investing activities (2,531,364) 130,251
Financing activities:    
Net increase (decrease) in unsecured credit facility and commercial paper 722,188 (179,000)
Proceeds from issuance of senior unsecured notes 2,036,964 545,074
Payments to extinguish senior unsecured notes (1,050,000) (450,000)
Net proceeds from the issuance of secured debt 295,969 44,606
Payments on secured debt (178,700) (224,958)
Net proceeds from the issuance of common stock 647,156 10,188
Payments for deferred financing costs and prepayment penalties (24,177) (18,639)
Contributions by noncontrolling interests [1] 39,122 8,421
Distributions to noncontrolling interests [1] (64,004) (59,484)
Cash distributions to stockholders (695,099) (670,859)
Other financing activities (8,615) (5,639)
Net cash provided from (used in) financing activities 1,720,804 (1,000,290)
Effect of foreign currency translation on cash, cash equivalents and restricted cash (333) (5,305)
Increase (decrease) in cash, cash equivalents and restricted cash 43,589 (36,920)
Cash, cash equivalents and restricted cash at beginning of period 316,129 309,303
Cash, cash equivalents and restricted cash at end of period 359,718 272,383
Supplemental cash flow information:    
Interest paid 252,714 209,156
Income taxes paid (received), net $ 2,040 $ 4,835
[1] Includes amounts attributable to redeemable noncontrolling interests.