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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 102,984 $ 93,852
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 59,291 52,763
Amortization of lease incentives 2,176 2,168
Amortization of commitment fees and discounts on mortgage and other notes receivable (773) (17)
Amortization of debt issuance costs, debt discounts and prepaid expenses 4,853 4,522
Share-based compensation expense 4,612 3,512
Non-cash rental income related to operations transfers upon early lease terminations (1,375) 0
Non-cash changes in straight-line rents receivable 8,499 (2,066)
Non-cash interest income on mortgage and other notes receivable (1,203) (39)
Loan and realty (gains) losses, net (3,386) 4,550
Gains on sales of real estate properties, net (337) (1,718)
Gains on equity method investment (2,012) (402)
Changes in operating assets and liabilities:    
Other assets, net (2,403) (2,494)
Accounts payable and other liabilities (2,587) (3,483)
Deferred income 488 (953)
Net cash provided by operating activities 168,827 150,195
Cash flows from investing activities:    
Acquisitions of real estate properties (130,984) (9,866)
Investments in existing real estate properties and equipment (9,850) (13,268)
Proceeds from sales of real estate properties 0 4,658
Investments in mortgage and other notes receivable (31,299) (27,816)
Payments received on mortgage and other notes receivable 88,003 14,774
Distributions received from equity method investment 2,012 402
Net cash used in investing activities (82,118) (31,116)
Cash flows from financing activities:    
Proceeds from revolving credit facility 505,000 244,000
Payments on revolving credit facility (736,200) (170,000)
Payments on bank term loan (150,815) (75,327)
Proceeds from issuance of senior notes 346,161 0
Payments of debt issuance costs (3,809) 0
Proceeds from issuance of common shares, net 134,923 0
Payments of equity issuance costs (153) (782)
Noncontrolling interest capital contribution 306 70
Distributions paid to noncontrolling interests (716) (821)
Dividends paid to stockholders (125,868) (117,250)
Taxes paid related to net settlement of stock incentive awards (415) (5,819)
Net cash used in financing activities (31,586) (125,929)
Increase (decrease) in cash, cash equivalents and restricted cash 55,123 (6,850)
Cash, cash equivalents and restricted cash at the beginning of the period 26,502 24,617
Cash, cash equivalents and restricted cash at the end of the period 81,625 17,767
Supplemental disclosures of cash flow information:    
Interest paid, net of amounts capitalized 43,969 45,250
Supplemental disclosures of non-cash investing and financing activities:    
Real estate property acquired to settle mortgage note receivable 8,600 22,184
Assets received upon early lease terminations 1,375 0
Change in accounts payable related to real estate property renovations (95) (1,430)
Change in accounts payable related to noncontrolling interest distributions (358) (6)
Right of use assets acquired in exchange for financing lease liabilities $ 22 $ 344