XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net loss $ (205,532) $ (461,157)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 298,717 351,596
Other amortization 23,901 23,390
Share-based compensation 11,802 6,944
Amortization of straight-line rent receivable (lessor) (15,613) (14,198)
Amortization of straight-line rent on operating leases (lessee) 1,724 1,998
Gain on sales of real estate properties and other assets (22,907) (38,360)
Impairment of real estate properties and credit loss reserves 154,429 148,055
Impairment of goodwill 0 250,530
Equity (income) loss from unconsolidated joint ventures (159) 568
Distributions from unconsolidated joint ventures 10,829 2,649
Non-cash interest from financing and notes receivable (395) (478)
Changes in operating assets and liabilities:    
Other assets, including right-of-use-assets (17,101) (4,257)
Accounts payable and accrued liabilities (31,051) (23,131)
Other liabilities 2,359 155
Net cash provided by operating activities 211,003 244,304
INVESTING ACTIVITIES    
Development of real estate (8,174) (31,901)
Additional long-lived assets (154,781) (117,775)
Funding of mortgages and notes receivable (2,799) (3,466)
Investments in unconsolidated joint ventures (978) 0
Proceeds from (investment in) financing receivable (194) 475
Contributions from redeemable non-controlling interests 0 13
Proceeds from sales of real estate properties and additional long-lived assets 69,805 303,475
Proceeds from insurance recovery 2,000 0
Proceeds from notes receivable repayments 53,190 567
Net cash (used in) provided by investing activities (41,931) 151,388
FINANCING ACTIVITIES    
Net borrowings on unsecured credit facility 295,000 250,000
Repayment on term loans (35,140) (100,000)
Repayments of notes and bonds payable (250,692) (17,746)
Dividends paid (217,756) (235,618)
Net proceeds from issuance of common stock 0 104
Common stock redemptions (713) (321)
Common stock repurchases 0 (273,053)
Distributions to non-controlling interest holders (2,653) (2,399)
Redemption of non-controlling interest (330) 0
Debt issuance and assumption costs 0 (563)
Payments made on finance leases (46) (30)
Net cash used in financing activities (212,330) (379,626)
(Decrease) increase in cash and cash equivalents (43,258) 16,066
Cash and cash equivalents at beginning of period 68,916 25,699
Cash and cash equivalents at end of period, including held for sale 25,658 41,765
Cash and cash equivalents held for sale (151) 0
Cash and cash equivalents at end of period 25,507 41,765
Supplemental Cash Flow Information    
Interest paid 90,251 103,708
Mortgage notes receivable taken in connection with sale of real estate 5,400 0
Invoices accrued for construction, tenant improvements and other capitalized costs 47,815 39,016
Capitalized interest 4,608 1,916
Proceeds from dispositions held in escrow 0 96,008
Contribution of real estate properties into unconsolidated joint venture $ 0 $ 66,547