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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:      
Net income   $ 161,423 $ 117,949
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   614,383 485,311
Other amortization expenses   11,433 8,854
Provision for loan losses (639) 7,580
Impairment of assets   0 47,260
Stock-based compensation expense   13,466 10,333
Loss (gain) on derivatives and financial instruments, net   1,171 1,575
Loss (gain) on extinguishment of debt, net 591 50,969
Loss (income) from unconsolidated entities 9,942 (5,073)
Rental income less than (in excess of) cash received   (51,445) 9,688
Amortization related to above (below) market leases, net   (803) (926)
Loss (gain) on real estate dispositions, net   (19,402) (103,748)
Distributions by unconsolidated entities 9,590 4,841
Increase (decrease) in accrued expenses and other liabilities   7,234 18,569
Decrease (increase) in receivables and other assets   (37,613) (14,269)
Net cash provided from (used in) operating activities   719,331 638,913
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (1,471,767) (661,285)
Cash disbursed for capital improvements to existing properties (200,069) (94,483)
Cash disbursed for construction in progress (286,427) (144,344)
Capitalized interest   (11,866) (9,358)
Investment in loans receivable (117,565) (918,407)
Principal collected on loans receivable   161,180 248,841
Other investments, net of payments   3,919 3,030
Contributions to unconsolidated entities   (307,513) (233,296)
Distributions by unconsolidated entities   13,641 171,250
Proceeds from (payments on) derivatives   27,302 (13,762)
Proceeds from sales of real property   103,904 446,680
Net cash provided from (used in) investing activities   (2,085,261) (1,205,134)
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 29,065  
Net increase (decrease) under unsecured credit facility and commercial paper   0
Net proceeds from issuance of senior unsecured notes 1,040,232 1,208,241
Payments to extinguish senior unsecured notes   0 (1,533,752)
Net proceeds from the issuance of secured debt   10,344 0
Payments on secured debt   (226,854) (98,263)
Net proceeds from the issuance of common stock   1,357,561 366,464
Payments for deferred financing costs and prepayment penalties   (4,081) (72,251)
Contributions by noncontrolling interests [1] 38,065 65,982
Distributions to noncontrolling interests [1] (214,288) (67,242)
Cash distributions to stockholders   (549,842) (509,665)
Other financing activities (6,586) (7,628)
Net cash provided from (used in) financing activities   1,473,616 (648,114)
Effect of foreign currency translation on cash and cash equivalents and restricted cash (12,190) 1,996
Increase (decrease) in cash, cash equivalents and restricted cash   95,496 (1,212,339)
Cash, cash equivalents and restricted cash at beginning of period   346,755 2,021,043
Cash, cash equivalents and restricted cash at end of period   442,251 808,704
Supplemental cash flow information:    
Interest paid 207,031 221,294
Income taxes paid (received), net $ 5,462 $ 1,922
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.