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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income (loss) $ (292,344) $ (343,684)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Paid-in-kind interest added to loan principal, net of interest received (544) (1,144)
Straight-line rent income (1,944) (6,701)
Amortization of above- and below-market lease values, net 245 (132)
Amortization of deferred financing costs and debt discount and premium, net 12,182 96,279
Carried interest (allocation) reversal 54,756 31,079
Principal investment (income) loss (3,562) (6,454)
Other equity method (earnings) losses 10,609 (24,741)
Distributions of income from equity method investments 557 0
Impairment of real estate and related intangibles and right-of-use asset 0 23,802
Depreciation and amortization 141,574 130,906
Equity-based compensation 16,612 18,719
Deferred income tax (benefit) expense 881 (9,040)
Loss on extinguishment of debt 0 133,173
Other gain (loss), net 142,644 17,332
Other adjustments, net 182 (986)
(Increase) decrease in other assets and due from affiliates 23,486 (4,186)
Increase (decrease) in accrued and other liabilities and due to affiliates (85,149) (52,965)
Net cash provided by (used in) operating activities 20,185 1,257
Cash Flows from Investing Activities    
Contributions to and acquisition of equity investments (140,998) (215,040)
Return of capital from equity method investments 52,259 11,829
Proceeds from sale of equity investments 308,254 194,524
Acquisition of loans receivable and debt securities 0 (101,607)
Proceeds from paydown and maturity of debt securities 0 566
Net disbursements on originated loans 0 (205,507)
Repayments of loans receivable 0 15,845
Proceeds from sales of loans receivable and debt securities 0 126,644
Acquisition of and additions to real estate, related intangibles and leasing commissions (162,918) (836,061)
Proceeds from sales of real estate, net of property level cash transferred to buyer 0 96,660
Cash and restricted cash assumed by buyer in sales of real estate investment holding entities 0 (189,453)
Investment deposits (5,704) 326
Net receipts on settlement of derivatives 3,401 0
Acquisition of InfraBridge, net of cash acquired (Note 3) (313,164) 0
Other investing activities, net 0 (875)
Net cash provided by (used in) investing activities (258,870) (1,102,149)
Cash Flows from Financing Activities    
Dividends paid to preferred stockholders (14,766) (15,760)
Dividends paid to common stockholders (1,599) 0
Repayments of corporate debt, including repurchase of senior notes 0 (14,237)
Borrowings from investment-level debt 1,241,890 326,500
Repayments of investment-level debt (1,060,239) (3,894)
Payment of deferred financing costs and prepayment penalties on investment level debt (29,482) (6,999)
Contributions from noncontrolling interests 29,684 353,156
Distributions to and redemptions of noncontrolling interests (43,839) (35,962)
Payment of contingent consideration to Wafra (Note 10) (90,000) 0
Shares canceled for tax withholdings on vested equity awards (4,863) (11,410)
Acquisition of noncontrolling interest 0 (32,076)
Net cash provided by (used in) financing activities 26,786 559,318
Effect of exchange rates on cash, cash equivalents and restricted cash (626) (651)
Net increase (decrease) in cash, cash equivalents and restricted cash (212,525) (542,225)
Cash, cash equivalents and restricted cash—beginning of period 1,036,739 1,766,245
Cash, cash equivalents and restricted cash—end of period 824,214 1,224,020
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Roll Forward]    
Cash and cash equivalents, beginning balance 918,254 1,602,102
Restricted cash, beginning balance 118,485 99,121
Restricted cash included in assets held for disposition, beginning balance 0 65,022
Cash and cash equivalents, ending balance 668,524 1,117,688
Restricted cash, ending balance 155,690 106,332
Total cash, cash equivalents, and restricted cash $ 824,214 $ 1,224,020