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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 176,918 $ 108,642
Adjustments to reconcile net income to cash flows from operating activities:    
(Recovery of) provision for loan losses (8,128) (12,749)
Impairment of assets 15,292 11,753
Depreciation and amortization 38,198 42,184
Non-cash expense for stock-based compensation 12,730 7,644
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 9,793 12,954
Amortization of discounts/premiums on loans, net (10,098) (10,835)
Deferred interest on loans, net 1,162 (5,632)
Gain from discontinued operations (123,418) 0
Earnings from equity method investments (13,677) (74,254)
Distributions from operations of other investments 39,076 44,893
Deferred operating lease income (4,870) (7,340)
Income from sales of real estate (28,775) (88,387)
Land development revenue in excess of cost of sales [1] (28,267) (88,387)
Loss on early extinguishment of debt, net 1,392 1,618
Debt discount on repayments of debt obligations (6,634) (5,369)
Other operating activities, net 12,210 4,115
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable, net 2,533 5,715
Changes in deferred expenses and other assets, net (8,271) (14,194)
Changes in accounts payable, accrued expenses and other liabilities (5,792) (11,773)
Cash flows provided by (used in) operating activities 86,807 (14,562)
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (177,952) (226,012)
Capital expenditures on real estate assets (24,891) (55,385)
Capital expenditures on land and development assets (84,966) (87,891)
Acquisitions of real estate assets 0 (4,740)
Repayments of and principal collections on loans receivable and other lending investments, net 491,680 243,780
Net proceeds from sales of real estate 201,939 412,335
Net proceeds from sales of land and development assets 174,979 64,159
Net proceeds from sales of other investments 0 39,810
Distributions from other investments 40,772 25,795
Contributions to and acquisition of interest in other investments (181,279) (45,635)
Changes in restricted cash held in connection with investing activities 5,491 (603)
Other investing activities, net 646 (14,265)
Cash flows provided by investing activities 446,419 351,348
Cash flows from financing activities:    
Borrowings from debt obligations and convertible notes 1,903,643 696,401
Repayments and repurchases of debt obligations (726,795) (1,065,253)
Proceeds from loan participations payable 0 22,844
Preferred dividends paid (38,490) (38,490)
Repurchase of stock (45,928) (99,335)
Payments for deferred financing costs (27,972) (8,930)
Payments for withholding taxes upon vesting of stock-based compensation (511) (1,203)
Distributions to noncontrolling interests (12,889) (7,248)
Other financing activities, net (599) 821
Cash flows provided by (used in) financing activities 1,050,459 (500,393)
Effect of exchange rate changes on cash 19 16
Changes in cash and cash equivalents 1,583,704 (163,591)
Cash and cash equivalents at beginning of period 328,744 711,101
Cash and cash equivalents at end of period 1,912,448 547,510
Supplemental disclosure of non-cash investing and financing activity:    
Fundings and repayments of loan receivables and loan participations, net (37,405) 31,030
Accrual for redemption of preferred stock and preferred stock dividends 241,830 0
Accounts payable for capital expenditures on land and development assets 5,700 3,187
Accounts payable for capital expenditures on real estate assets 2,574 0
Acquisitions of real estate and land and development assets through deed-in-lieu 0 9,083
Developer fee payable 0 9,478
Accrued financing costs 3,031 0
Land and Development    
Adjustments to reconcile net income to cash flows from operating activities:    
Land development revenue in excess of cost of sales $ (12,834) $ (23,547)
[1] Income from sales of real estate represents gains from sales of real estate that do not qualify as discontinued operations.