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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:      
Net income   $ 28,635 $ 65,751
Adjustments to reconcile net income to net cash provided from (used in) operating activities:      
Depreciation and amortization   339,112 304,088
Other amortization expenses   9,792 5,592
Provision for loan losses, net 777 (804)
Impairment of assets   12,629 0
Stock-based compensation expense   9,456 7,445
Loss (gain) on derivatives and financial instruments, net   930 2,578
Loss (gain) on extinguishment of debt, net   5 (12)
Loss (income) from unconsolidated entities 7,071 2,884
Rental income less than (in excess of) cash received   (36,827) (22,215)
Amortization related to above (below) market leases, net   (82) (419)
Loss (gain) on real estate dispositions, net   (747) (22,934)
Distributions by unconsolidated entities 3,418 6,982
Increase (decrease) in accrued expenses and other liabilities   (4,503) (23,416)
Decrease (increase) in receivables and other assets   6,392 (1,000)
Net cash provided from (used in) operating activities   376,058 324,520
Investing activities:      
Cash disbursed for acquisitions, net of cash acquired (402,719) (601,410)
Cash disbursed for capital improvements to existing properties (91,339) (90,229)
Cash disbursed for construction in progress (226,226) (138,141)
Capitalized interest   (10,335) (5,479)
Investment in loans receivable (54,831) (39,201)
Principal collected on loans receivable   15,592 89,207
Other investments, net of payments     2,401
Other investments, net of payments   (80,548)  
Contributions to unconsolidated entities   (112,822) (115,249)
Distributions by unconsolidated entities   4,800 5,882
Proceeds from (payments on) derivatives   3,933 10,104
Proceeds from sales of real property   21,658 73,568
Net cash provided from (used in) investing activities   (932,837) (808,547)
Financing activities:      
Net increase (decrease) under unsecured credit facility and commercial paper 0 (24,967)
Net proceeds from issuance of senior unsecured notes 0 545,082
Net proceeds from the issuance of secured debt   362,900 5,385
Payments on secured debt   (39,573) (116,789)
Net proceeds from the issuance of common stock   411,032 549,346
Payments for deferred financing costs and prepayment penalties   (6,444) (69)
Contributions by noncontrolling interests [1] 83,480 4,101
Distributions to noncontrolling interests [1] (35,664) (177,979)
Cash distributions to stockholders   (300,195) (273,045)
Other financing activities (5,066) (5,960)
Net cash provided from (used in) financing activities   470,470 505,105
Effect of foreign currency translation on cash and cash equivalents and restricted cash 2,813 (790)
Increase (decrease) in cash, cash equivalents and restricted cash   (83,496) 20,288
Cash, cash equivalents and restricted cash at beginning of period   722,292 346,755
Cash, cash equivalents and restricted cash at end of period   638,796 367,043
Supplemental cash flow information:    
Interest paid 148,399 123,012
Income taxes paid (received), net $ 325 $ 631
[1] (1) Includes amounts attributable to redeemable noncontrolling interests.