XML 21 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (100,912) $ (46,293)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 178,652 196,074
Non-cash interest expense 3,909 14,905
Amortization of stock-based compensation 13,485 11,547
Loss from unconsolidated real estate entities 3,224 1,460
Unrealized loss on non-real estate investments 1,943 4
Straight-line rents 3,244 (14,111)
Straight-line rent expenses 2,038 2,509
Amortization of above- and below-market leases, net (2,703) (3,239)
Amortization of above- and below-market ground leases, net 1,324 1,377
Amortization of lease incentive costs 500 603
Earnout liability fair value adjustment 0 (3,017)
Gain on sale of real estate 0 (7,046)
Deferred tax provision 471 916
Change in operating assets and liabilities:    
Accounts receivable 6,364 (1,989)
Deferred leasing costs and lease intangibles (11,196) (9,619)
Prepaid expenses and other assets (12,226) (23,474)
Accounts payable, accrued liabilities and other 17,427 22,993
Security deposits, prepaid rent and other (4,794) 8,083
Net cash provided by operating activities 100,750 151,683
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 0 100,441
Additions to investment in real estate (88,069) (155,948)
Cash acquired from consolidation of previously unconsolidated real estate entity 8,814 0
Contributions to non-real estate investments (919) (3,339)
Proceeds from sales of non-real estate investments 0 503
Distributions from unconsolidated real estate entities 0 1,895
Contributions to unconsolidated real estate entities (30,492) (35,313)
Additions to non-real estate property, plant and equipment (10,364) (1,650)
Net cash used in investing activities (121,030) (93,411)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 112,341 263,356
Payments of unsecured and secured debt (30,000) (384,000)
Settlement of earnout liability (5,000) 0
Transaction costs (79) 0
Repurchases of common stock 0 (1,369)
Dividends paid to common stock and unitholders (15,377) (54,960)
Dividends paid to preferred stock and unitholders (10,400) (10,400)
Distributions to redeemable non-controlling members in consolidated real estate entities (3,924) (4,506)
Contributions from non-controlling members in consolidated real estate entities 13,185 14,205
Purchase of non-controlling interest (40,937) 0
Distributions to non-controlling members in consolidated real estate entities (18,697) (38,439)
Payments to satisfy tax withholding obligations (48) (87)
Net cash provided by (used in) financing activities 1,064 (216,200)
Net decrease in cash and cash equivalents and restricted cash (19,216) (157,928)
Cash and cash equivalents and restricted cash—beginning of period 119,156 285,731
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 99,940 $ 127,803