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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities:      
Net income $ 413,561 $ 498,463 $ 439,671
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 277,879 310,380 360,811
Impairment charges 48,743 79,207 67,331
Deferred taxes 0 0 807
Early extinguishment of debt charges 0 12,762 1,753
Equity award expense 20,200 18,221 21,563
Gain on sale of properties/change in control of interests (79,218) (229,840) (93,538)
Gain on change in control of joint venture interests 0 0 (71,160)
Distributions from joint ventures and other real estate investments 93,877 104,626 58,189
Change in accounts and notes receivable (34,160) 5,229 (7,934)
Change in accounts payable and accrued expenses (3,611) (9,175) 4,417
Change in Canadian withholding tax receivable 0 0 12,996
Change in other operating assets and liabilities (55,405) (51,220) (52,961)
Net cash flow provided by operating activities 583,628 637,936 614,181
Cash flow from investing activities:      
Acquisition of operating real estate and other related net assets (1,957) (5,407) (153,854)
Improvements to operating real estate (324,821) (290,874) (206,800)
Acquisition of real estate under development 0 (4,592) (10,010)
Improvements to real estate under development (118,841) (235,988) (160,257)
Investment in marketable securities (244) (63) (9,822)
Proceeds from sale/repayments of marketable securities 2,023 957 3,146
Investments in and advances to real estate joint ventures (27,665) (36,139) (35,291)
Reimbursements of investments in and advances to real estate joint ventures 21,759 21,127 55,839
Investment in and advances to other real estate investments (12,816) (524) (666)
Reimbursements of investments in and advances to other real estate investments 5,960 12,878 40,709
Investment in other financing receivable (48) (125) 0
Collection of mortgage loans receivable 10,449 22,299 1,405
Investment in other investments (2,500) (857) 0
Proceeds from sale of operating properties 324,280 754,731 181,321
Proceeds from insurance casualty claims 4,000 16,222 0
Net cash flow provided by/(used for) investing activities (120,421) 253,645 (294,280)
Cash flow from financing activities:      
Principal payments on debt, excluding normal amortization of rental property debt (6,539) (204,746) (687,117)
Principal payments on rental property debt (12,212) (13,113) (15,186)
Proceeds from mortgage and construction loan financings 16,028 50,972 206,000
Proceeds/(repayments) under the unsecured revolving credit facility, net 100,000 92,254 (17,143)
Proceeds from issuance of unsecured notes 350,000 0 1,250,000
Repayments under unsecured notes/term loan 0 (315,095) (550,000)
Financing origination costs (7,707) (1,221) (23,305)
Payment of early extinguishment of debt charges (1,531) (13,308) (2,631)
Contributions from noncontrolling interests 0 109 1,422
Redemption/distribution of noncontrolling interests (15,134) (6,660) (96,599)
Dividends paid (531,565) (529,756) (506,172)
Proceeds from issuance of stock, net 204,012 33,705 440,946
Redemption of preferred stock (575,000) 0 (225,000)
Repurchase of common stock 0 (75,126) 0
Change in other financing liabilities (3,193) (4,528) 911
Net cash flow used for financing activities (482,841) (986,513) (223,874)
Net change in cash and cash equivalents (19,634) (94,932) 96,027
Cash and cash equivalents, beginning of year 143,581 238,513 142,486
Cash and cash equivalents, end of year 123,947 143,581 238,513
Interest paid during the year including payment of early extinguishment of debt charges of $1,531, $13,308 and $2,631, respectively (net of capitalized interest of $15,690, $17,549 and $14,480, respectively) 169,026 199,701 192,155
Income taxes (received)/paid during the year (net of refunds received of $3,452, $1,007 and $16,118, respectively) (1,106) 514 (14,456)
Joint Ventures [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income (72,162) (71,617) (60,763)
Other Real Estate Investments [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income $ (26,076) $ (29,100) $ (67,001)