XML 23 R8.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net loss $ (555,692) $ (240,408)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 514,821 550,661
Other amortization 35,051 33,822
Share-based compensation 14,852 11,470
Amortization of straight-line rent receivable (lessor) (20,935) (29,320)
Amortization of straight-line rent on operating leases (lessee) 2,963 4,600
Gain on sales of real estate properties and other assets (77,670) (56,974)
Gain on extinguishment of debt 0 (62)
Impairment of real estate properties and credit loss reserves 232,450 143,510
Impairment of goodwill 250,530 0
Equity loss from unconsolidated joint ventures 360 1,253
Distributions from unconsolidated joint ventures 4,946 4,366
Non-cash interest from financing and notes receivable (1,610) (1,067)
Changes in operating assets and liabilities:    
Other assets, including right-of-use-assets (5,758) (34,632)
Accounts payable and accrued liabilities (27,925) (32,060)
Other liabilities (2,778) 17,345
Net cash provided by operating activities 363,605 372,504
INVESTING ACTIVITIES    
Acquisitions of real estate 0 (48,106)
Development of real estate (51,336) (31,318)
Additional long-lived assets (186,742) (156,871)
Funding of mortgages and notes receivable (3,565) (14,597)
Investments in unconsolidated joint ventures 0 (3,824)
Investment in financing receivable (22) (310)
Contributions from redeemable non-controlling interests 13 710
Proceeds from sales of real estate properties and additional long-lived assets 722,940 366,779
Proceeds from notes receivable repayments 861 0
Net cash provided by investing activities 482,149 112,463
FINANCING ACTIVITIES    
Net borrowings (repayments) on unsecured credit facility 206,000 (149,000)
Repayment on term loan (250,000) 0
Repayments of notes and bonds payable (25,130) (11,988)
Dividends paid (348,064) (354,171)
Net proceeds from issuance of common stock 104 110
Common stock redemptions (321) (1,834)
Common stock repurchases (423,070) 0
Distributions to non-controlling interest holders (3,612) (3,836)
Redemption of non-controlling interest (625) 0
Debt issuance and assumption costs (563) (529)
Payments made on finance leases (13) (12)
Net cash used in financing activities (845,294) (521,260)
Increase (decrease) in cash and cash equivalents 460 (36,293)
Cash and cash equivalents at beginning of period 25,699 60,961
Cash and cash equivalents at end of period, including assets held for sale 26,159 24,668
Cash and cash equivalents held for sale (3,358) 0
Cash and cash equivalents at end of period 22,801 24,668
Supplemental Cash Flow Information    
Interest paid 177,507 185,402
Mortgage notes receivable taken in connection with sale of real estate 0 45,000
Invoices accrued for construction, tenant improvements and other capitalized costs 49,886 32,590
Mortgage note payable assumed in connection with acquisition of real estate, net 0 5,284
Capitalized interest 3,211 2,077
Contribution of real estate properties into unconsolidated joint venture $ 110,879 $ 0