v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 442,658 $ 294,162
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amounts in discontinued operations) 666,735 736,870
Amortization of deferred revenue and lease intangibles, net (15,307) (19,312)
Other non-cash amortization 7,174 3,051
Stock-based compensation 15,885 16,061
Straight-lining of rental income, net (21,386) (25,118)
Loss on extinguishment of debt, net 3,165 14,897
Gain on real estate dispositions (including amounts in discontinued operations) (31,779) (14,649)
Gain on real estate loan investments (2,271) 0
Gain on sale of marketable debt securities 0 (5,800)
Income tax benefit (30,832) (30,717)
(Income) loss from unconsolidated entities (2,151) 1,197
Distributions from unconsolidated entities 5,574 20,550
Other (1,075) 3,276
Changes in operating assets and liabilities:    
Decrease in other assets 1,753 11,164
(Decrease) increase in accrued interest (10,053) 6,338
(Decrease) increase in accounts payable and other liabilities (26,820) 10,075
Net cash provided by operating activities 1,001,270 1,022,045
Cash flows from investing activities:    
Net investment in real estate property (1,421,592) (2,556,988)
Investment in loans receivable and other (154,949) (74,386)
Proceeds from real estate disposals 63,561 409,633
Proceeds from loans receivable 194,063 106,909
Proceeds from sale or maturity of marketable securities 0 76,800
Funds held in escrow for future development expenditures 0 4,003
Development project expenditures (94,398) (90,458)
Capital expenditures (75,296) (75,812)
Investment in unconsolidated operating entity 0 (26,282)
Other (6,175) (27,984)
Net cash used in investing activities (1,494,786) (2,254,565)
Cash flows from financing activities:    
Net change in borrowings under credit facility 46,728 (790,406)
Net cash impact of CCP Spin-Off 0 (128,749)
Proceeds from debt 876,617 2,511,061
Proceeds from debt related to CCP Spin-Off 0 1,400,000
Repayment of debt (916,505) (1,329,070)
Purchase of noncontrolling interest (1,604) (3,819)
Payment of deferred financing costs (6,147) (23,893)
Issuance of common stock, net 1,265,702 417,818
Cash distribution to common stockholders (750,402) (759,575)
Cash distribution to redeemable OP unitholders (6,486) (12,776)
Purchases of redeemable OP units 0 (33,188)
Contributions from noncontrolling interest 5,926 0
Distributions to noncontrolling interest (5,121) (11,250)
Other 21,507 6,489
Net cash provided by financing activities 530,215 1,242,642
Net increase in cash and cash equivalents 36,699 10,122
Effect of foreign currency translation on cash and cash equivalents (443) (239)
Cash and cash equivalents at beginning of period 53,023 55,348
Cash and cash equivalents at end of period 89,279 65,231
Assets and liabilities assumed from acquisitions:    
Real estate investments 59,666 2,567,150
Utilization of funds held for an Internal Revenue Code Section 1031 exchange (6,954) (8,911)
Other assets acquired 79,879 20,221
Debt assumed 47,641 177,857
Other liabilities 60,446 57,937
Deferred income tax liability 2,279 50,836
Redeemable OP unitholder interests assumed 0 87,245
Noncontrolling interest 22,225 0
Equity issued 0 2,204,585
Non-cash impact of CCP Spin-Off 0 1,256,404
Equity issued for purchase of OP and Class C units $ 22,970 $ 0