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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:      
Net income   $ 308,285 $ 883,574
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   753,065 795,704
Other amortization expenses   13,951 9,613
Provision for loan losses, net 7,309 11,351
Impairment of assets   48,750 126,291
Stock-based compensation expense   14,868 20,938
Loss (gain) on derivatives and financial instruments, net   (6,503) 10,480
Loss (gain) on extinguishment of debt, net 50,964 33,253
Loss (income) from unconsolidated entities 10,759 8,341
Rental income less than (in excess of) cash received   (9,607) 66,874
Amortization related to above (below) market leases, net   (2,045) (1,373)
Loss (gain) on real estate dispositions, net   (223,702) (902,991)
Distributions by unconsolidated entities 11,783 7,835
Increase (decrease) in accrued expenses and other liabilities   97,924 40,443
Decrease (increase) in receivables and other assets   (83,806) (749)
Net cash provided from (used in) operating activities   991,995 1,109,584
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (2,735,206) (393,374)
Cash disbursed for capital improvements to existing properties (165,691) (183,324)
Cash disbursed for construction in progress (263,325) (126,699)
Capitalized interest   (14,027) (13,234)
Investment in loans receivable (953,006) (216,307)
Principal collected on loans receivable   250,415 14,345
Other investments, net of payments   (10,885) (2,145)
Contributions to unconsolidated entities   (278,833) (301,031)
Distributions by unconsolidated entities   238,066 41,884
Proceeds from (payments on) derivatives   2,312 (13,319)
Proceeds from sales of real property   941,708 3,522,949
Net cash provided from (used in) investing activities   (2,988,472) 2,329,745
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 290,996  
Net increase (decrease) under unsecured credit facility and commercial paper   (1,587,597)
Net proceeds from issuance of senior unsecured notes 1,208,241 1,588,549
Payments to extinguish senior unsecured notes   (1,533,752) (566,248)
Net proceeds from the issuance of secured debt   2,693 44,921
Payments on secured debt   (118,854) (538,091)
Net proceeds from the issuance of common stock   1,366,464 595,313
Repurchase of common stock 0 (7,656)
Payments for deferred financing costs and prepayment penalties   (72,251) (35,925)
Contributions by noncontrolling interests 84,073 14,267
Distributions to noncontrolling interests (108,912) (298,369)
Cash distributions to stockholders   (770,457) (864,115)
Other financing activities (9,322) (11,244)
Net cash provided from (used in) financing activities   338,919 (1,666,195)
Effect of foreign currency translation on cash and cash equivalents and restricted cash (840) (3,566)
Increase (decrease) in cash, cash equivalents and restricted cash   (1,658,398) 1,769,568
Cash, cash equivalents and restricted cash at beginning of period   2,021,043 385,765
Cash, cash equivalents and restricted cash at end of period   362,645 2,155,333
Supplemental cash flow information:    
Interest paid 341,134 362,130
Income taxes paid (received), net $ 1,288 $ (485)