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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:      
Net income   $ 883,574 $ 1,090,274
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   795,704 764,429
Other amortization expenses   9,613 13,474
Provision for loan losses 11,351 18,690
Impairment of assets   126,291 28,035
Stock-based compensation expense   20,938 20,501
Loss (gain) on derivatives and financial instruments, net   10,480 670
Loss (gain) on extinguishment of debt, net 33,253 81,543
Loss (income) from unconsolidated entities 8,341 14,986
Rental income less than (in excess of) cash received   66,874 (78,980)
Amortization related to above (below) market leases, net   (1,373) (335)
Loss (gain) on real estate dispositions, net   (902,991) (735,977)
Distributions by unconsolidated entities 7,835 0
Increase (decrease) in accrued expenses and other liabilities   40,443 845
Decrease (increase) in receivables and other assets   (749) (8,255)
Net cash provided from (used in) operating activities   1,109,584 1,209,900
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (393,374) (3,004,768)
Cash disbursed for capital improvements to existing properties (183,324) (206,413)
Cash disbursed for construction in progress (126,699) (258,113)
Capitalized interest   (13,234) (10,404)
Investment in loans receivable (216,307) (90,856)
Principal collected on loans receivable   14,345 57,125
Other investments, net of payments   (2,145) (29,788)
Contributions to unconsolidated entities   (301,031) (194,490)
Distributions by unconsolidated entities   41,884 98,880
Proceeds from (payments on) derivatives   (13,319) (20,569)
Proceeds from sales of real property   3,522,949 2,601,071
Net cash provided from (used in) investing activities   2,329,745 (1,058,325)
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper (1,587,597)  
Net increase (decrease) under unsecured credit facility and commercial paper   187,586
Proceeds from issuance of senior unsecured notes 1,588,549 3,253,516
Payments to extinguish senior unsecured notes   (566,248) (3,107,500)
Net proceeds from the issuance of secured debt   44,921 318,854
Payments on secured debt   (538,091) (233,952)
Net proceeds from the issuance of common stock   595,313 686,105
Repurchase of common stock (7,656) 0
Payments for deferred financing costs and prepayment penalties   (35,925) (82,249)
Contributions by noncontrolling interests [1] 14,267 42,988
Distributions to noncontrolling interests [1] (298,369) (138,270)
Cash distributions to stockholders   (864,115) (1,047,968)
Other financing activities (11,244) (11,643)
Net cash provided from (used in) financing activities   (1,666,195) (132,533)
Effect of foreign currency translation on cash and cash equivalents and restricted cash (3,566) (4,436)
Increase (decrease) in cash, cash equivalents and restricted cash   1,769,568 14,606
Cash, cash equivalents and restricted cash at beginning of period   385,765 316,129
Cash, cash equivalents and restricted cash at end of period   2,155,333 330,735
Supplemental cash flow information:    
Interest paid 362,130 416,523
Income taxes paid (received), net $ (485) $ 4,784
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.