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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 428,302 $ 163,545 $ 351,947
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 342,014 329,924 301,683
Impairment on real estate properties 44,658 75,972 48,939
(Recovery) impairment on direct financing leases (717) (3,079) 7,917
Provision for rental income 38,806 146,608 11,120
Provision for credit losses 77,733 37,997  
Amortization of deferred financing costs and loss on debt extinguishment 43,051 11,608 9,564
Accretion of direct financing leases 55 30 13
Stock-based compensation expense 21,415 18,822 15,359
Gain on assets sold - net (161,609) (19,113) (55,696)
Amortization of acquired in-place leases - net (9,516) (14,187) (5,904)
Effective yield payable (receivable) on mortgage notes 1,526 (719) (173)
Interest paid-in-kind (7,496) (7,718) (7,160)
(Income) loss from unconsolidated joint ventures (2,060) (1,315) 22
Change in operating assets and liabilities - net:      
Contractual receivables (23,169) 5,709 (5,931)
Straight-line rent receivables (52,206) (28,968) (46,580)
Lease inducements (13,733) (22,443) (42,071)
Other operating assets and liabilities (4,918) 15,583 (29,302)
Net cash provided by operating activities 722,136 708,256 553,747
Cash flows from investing activities      
Acquisition of a business, net of cash acquired   (5,058) (59,616)
Acquisition of real estate (615,873) (105,663) (377,841)
Acquisition deposit - net (5,730) (2,500)  
Net proceeds from sale of real estate investments 318,529 180,851 219,262
Investments in construction in progress (95,064) (75,111) (139,678)
Proceeds from sale of direct financing lease and related trust 717 15,414 93,730
Placement of mortgage loans (86,664) (62,432) (20,702)
Collection of mortgage principal 45,167 9,867 54,529
Investments in unconsolidated joint ventures (10,484) (2,471) (103,963)
Distributions from unconsolidated joint ventures in excess of earnings 17,868 6,291 9,079
Capital improvements to real estate investments (44,948) (31,072) (52,892)
Receipts from insurance proceeds 5,993 897 8,170
Investments in other investments (164,793) (167,936) (100,312)
Proceeds from other investments 111,109 149,866 91,281
Net cash used in investing activities (524,173) (89,057) (378,953)
Cash flows from financing activities      
Proceeds from long-term borrowings 2,275,128 1,852,209 2,001,985
Payments of long-term borrowings (2,178,311) (1,838,155) (2,081,322)
Payments of financing related costs (48,989) (18,183) (4,787)
Net proceeds from issuance of common stock 274,011 151,861 515,358
Dividends paid (637,648) (612,310) (564,127)
Noncontrolling members' contributions to consolidated joint venture     228
Redemption of Omega OP Units (79)    
Distributions to Omega OP Unit Holders (25,229) (20,970) (21,294)
Net cash used in financing activities (341,117) (485,548) (153,959)
Effect of foreign currency translation on cash, cash equivalents and restricted cash 7 527 874
(Decrease) increase in cash, cash equivalents and restricted cash (143,147) 134,178 21,709
Cash, cash equivalents and restricted cash at beginning of period 167,558 33,380 11,671
Cash, cash equivalents and restricted cash at end of period $ 24,411 $ 167,558 $ 33,380