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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:      
Net income (loss) $ 158,770 $ 308,285
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   968,082 753,065
Other amortization expenses   20,643 13,951
Provision for loan losses, net (149) 7,309
Impairment of assets   4,356 48,750
Stock-based compensation expense   19,456 14,868
Loss (gain) on derivatives and financial instruments, net   8,076 (6,503)
Loss (gain) on extinguishment of debt, net 593 50,964
Loss (income) from unconsolidated entities 16,640 10,759
Rental income less than (in excess of) cash received   (79,571) (9,607)
Amortization related to above (below) market leases, net   (1,199) (2,045)
Loss (gain) on real estate dispositions, net   (20,466) (223,702)
Distributions by unconsolidated entities 8,648 11,783
Increase (decrease) in accrued expenses and other liabilities   96,250 97,924
Decrease (increase) in receivables and other assets   (124,807) (83,806)
Net cash provided from (used in) operating activities   1,075,322 991,995
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (2,292,998) (2,735,206)
Cash disbursed for capital improvements to existing properties (315,835) (165,691)
Cash disbursed for construction in progress (463,465) (263,325)
Capitalized interest   (20,729) (14,027)
Investment in loans receivable (133,179) (953,006)
Principal collected on loans receivable   172,380 250,415
Other investments, net of payments   (62,625) (10,885)
Contributions to unconsolidated entities   (390,493) (278,833)
Distributions by unconsolidated entities   34,256 238,066
Proceeds from (payments on) derivatives   63,747 2,312
Proceeds from sales of real property   124,431 941,708
Net cash provided from (used in) investing activities   (3,284,510) (2,988,472)
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 329,780 290,996
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   89,804 2,693
Payments on secured debt   (320,377) (118,854)
Net proceeds from the issuance of common stock   2,184,953 1,366,464
Payments for deferred financing costs and prepayment penalties   (4,881) (72,251)
Contributions by noncontrolling interests [1] 47,503 84,073
Distributions to noncontrolling interests [1] (221,754) (108,912)
Cash distributions to stockholders   (833,296) (770,457)
Other financing activities (7,730) (9,322)
Net cash provided from (used in) financing activities   2,304,234 338,919
Effect of foreign currency translation on cash and cash equivalents and restricted cash (16,617) (840)
Increase (decrease) in cash, cash equivalents and restricted cash   78,429 (1,658,398)
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   425,184 362,645
Supplemental cash flow information:    
Interest paid 364,345 341,134
Income taxes paid (received), net $ 6,725 $ 1,288
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.