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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flow from operating activities:      
Net income $ 114,534 $ 849,696 $ 1,002,877
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 505,000 395,320 288,955
Impairment charges 21,958 3,597 6,624
Straight-line rental income adjustments, net (33,794) (22,627) 5,914
Amortization of above-market and below-market leases, net (13,591) (14,843) (22,515)
Amortization of deferred financing costs and fair value debt adjustments, net (28,631) (9,445) 6,312
Early extinguishment of debt charges 7,658 0 7,538
Equity award expense 26,639 23,150 23,685
Gain on sale of properties (15,179) (30,841) (6,484)
Loss/(gain) on marketable securities, net 315,508 (505,163) (594,753)
Gain on sale of cost method investment 0 0 (190,832)
Distributions from joint ventures and other investments 83,553 91,507 149,022
Change in accounts and notes receivable, net (9,104) 4,548 (6,473)
Change in accounts payable and accrued expenses 37,655 (104,712) 5,576
Change in other operating assets and liabilities, net (24,208) 46,638 (9,552)
Net cash flow provided by operating activities 861,114 618,875 589,913
Cash flow from investing activities:      
Acquisition of operating real estate and other related net assets (300,772) (355,953) (12,644)
Improvements to operating real estate (193,710) (163,699) (221,278)
Improvements to real estate under development 0 0 (22,358)
Acquisition of Weingarten Realty Investors, net of cash acquired of $56,451 0 (263,973) 0
Investment in marketable securities (4,003) 0 0
Proceeds from sale of marketable securities 302,504 377 931
Investment in cost method investments (4,524) 0 0
Proceeds from sale of cost method investment 0 0 227,270
Investments in and advances to real estate joint ventures (87,301) (12,571) (15,882)
Reimbursements of investments in and advances to real estate joint ventures 37,571 47,862 4,499
Investments in and advances to other investments (17,432) (67,090) (15,418)
Reimbursements of investments in and advances to other investments 30,855 64,068 13,435
Investment in mortgage and other financing receivables (75,063) (41,897) (25,000)
Collection of mortgage and other financing receivables 60,306 13,776 177
Proceeds from sale of properties 184,294 302,841 30,545
Proceeds from insurance casualty claims 0 0 2,450
Principal payments from securities held-to-maturity 4,058 0 0
Net cash flow used for investing activities (63,217) (476,259) (33,273)
Cash flow from financing activities:      
Principal payments on debt, excluding normal amortization of rental property debt (157,928) (229,288) (158,556)
Principal payments on rental property debt (9,808) (10,622) (10,693)
Proceeds from mortgage loan financings 19,000 0 0
Repayments from the unsecured revolving credit facility, net 0 0 (200,000)
Financing origination costs (20,326) (8,197) (18,040)
Payment of early extinguishment of debt charges (6,955) 0 (7,538)
Contributions from noncontrolling interests 891 0 149
Redemption/distribution of noncontrolling interests (67,453) (34,610) (23,345)
Dividends paid (544,740) (382,132) (379,874)
Proceeds from issuance of stock, net 15,513 82,989 981
Repurchase of preferred stock (3,441) 0 0
Shares repurchased for employee tax withholding on equity awards (13,679) (20,842) (5,379)
Change in tenants' security deposits 5,255 1,561 (199)
Net cash flow used for financing activities (982,731) (101,141) (387,399)
Net change in cash, cash equivalents and restricted cash (184,834) 41,475 169,241
Cash, cash equivalents and restricted cash, beginning of year 334,663 293,188 123,947
Cash, cash equivalents and restricted cash, end of year 149,829 334,663 293,188
Interest paid during the year including payment of early extinguishment of debt charges of $6,955, $0 and $7,538, respectively (net of capitalized interest of $668, $583 and $13,683, respectively) 257,979 197,947 183,558
Income taxes paid during the year (net of refunds received of $0, $0 and $47, respectively) 11,869 1,961 747
Term Loan [Member]      
Cash flow from financing activities:      
Proceeds from issuance of unsecured debt 0 0 590,000
Repayments of unsecured debt 0 0 (590,000)
Senior Unsecured Notes [Member]      
Cash flow from financing activities:      
Proceeds from issuance of unsecured debt 1,250,000 500,000 900,000
Repayments of unsecured debt (1,449,060) 0 (484,905)
Joint Ventures [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income, net (109,481) (84,778) (47,353)
Other Real Estate Investments [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income, net $ (17,403) $ (23,172) $ (28,628)