v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 352,116 $ 292,474
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 441,891 458,348
Amortization of deferred revenue and lease intangibles, net (10,849) (10,090)
Other non-cash amortization 6,584 4,687
Stock-based compensation 13,396 10,037
Straight-lining of rental income, net (11,155) (15,426)
Loss on extinguishment of debt, net 345 2,782
Gain on real estate dispositions (44,008) (31,923)
Gain on re-measurement of equity interest upon acquisition, net (3,027) 0
Gain on real estate loan investments (4) (33)
Income tax benefit (7,104) (21,443)
Income from unconsolidated entities (17) (1,220)
Distributions from unconsolidated entities 3,134 3,873
Other 1,348 724
Changes in operating assets and liabilities:    
Decrease in other assets 29,934 10,609
Increase (decrease) in accrued interest 4,550 (769)
Decrease in accounts payable and other liabilities (39,878) (41,894)
Net cash provided by operating activities 737,256 660,736
Cash flows from investing activities:    
Net investment in real estate property (239,498) (34,453)
Investment in loans receivable and other (718,233) (152,450)
Proceeds from real estate disposals 19,570 63,561
Proceeds from loans receivable 25,067 7,644
Development project expenditures (143,269) (69,679)
Capital expenditures (55,952) (46,925)
Investment in unconsolidated entities (39,048) (4,265)
Net cash used in investing activities (1,151,363) (236,567)
Cash flows from financing activities:    
Net change in borrowings under revolving credit facility 364,456 24,304
Proceeds from debt 1,028,509 416,217
Repayment of debt (656,536) (740,337)
Purchase of noncontrolling interests (15,809) (1,604)
Payment of deferred financing costs (19,687) (3,844)
Issuance of common stock, net 73,596 377,739
Cash distribution to common stockholders (550,965) (493,471)
Cash distribution to redeemable OP unitholders (3,720) (4,437)
Contributions from noncontrolling interests 2,227 5,680
Distributions to noncontrolling interests (4,156) (3,582)
Other 9,702 3,622
Net cash provided by (used in) financing activities 227,617 (419,713)
Net (decrease) increase in cash and cash equivalents (186,490) 4,456
Effect of foreign currency translation on cash and cash equivalents 3,136 (157)
Cash and cash equivalents at beginning of period 286,707 53,023
Cash and cash equivalents at end of period 103,353 57,322
Assets and liabilities assumed from acquisitions:    
Real estate investments 205,266 8,665
Utilization of funds held for an Internal Revenue Code Section 1031 exchange (84,995) (6,954)
Other assets acquired (4,096) 861
Debt assumed 64,629 0
Other liabilities 65,754 2,638
Deferred income tax liability (16,180) (66)
Noncontrolling interest 1,972 0
Equity issued for purchase of OP and Class C units $ 22,359 $ 20,770