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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (20,793) $ 370,347
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Provision for loan losses 4,093 (3,792)
Provision for losses on net investment in leases 2,001 0
Impairment of assets 6,491 4,953
Depreciation and amortization 43,407 43,586
Non-cash interest income from sales-type leases (15,681) (2,228)
Stock-based compensation expense 26,675 20,694
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 10,055 10,573
Amortization of discounts/premiums and deferred interest on loans, net (24,360) (33,136)
Deferred interest on loans received 15,275 9,507
Selling profit from sales-type leases 0 (180,416)
Earnings from equity method investments (26,003) (16,566)
Distributions from operations of other investments 17,146 15,712
Deferred operating lease income (11,276) (12,210)
Income from sales of real estate (6,118) (233,406)
Land development revenue in excess of cost of sales (1,550) (4,906)
Loss on early extinguishment of debt, net 12,038 468
Other operating activities, net (21,207) 12,827
Changes in assets and liabilities:    
Deposit on loan to be held for sale 0 (21,226)
Changes in accrued interest and operating lease income receivable 352 2,010
Changes in deferred expenses and other assets, net (6,079) (8,268)
Changes in accounts payable, accrued expenses and other liabilities (10,644) (50,319)
Cash flows used in operating activities (6,178) (75,796)
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (80,635) (191,559)
Capital expenditures on real estate assets (11,661) (21,081)
Capital expenditures on land and development assets (33,488) (93,395)
Acquisitions of real estate, net investments in leases and land assets 0 (240,487)
Repayments of and principal collections on loans receivable and other lending investments, net 151,612 380,071
Net proceeds from sales of loans receivable 0 5,898
Net proceeds from sales of real estate 42,684 307,493
Net proceeds from sales of land and development assets 113,670 73,733
Distributions from other investments 12,139 60,411
Contributions to and acquisition of interest in other investments (194,775) (494,339)
Other investing activities, net (5,214) (28,002)
Cash flows used in investing activities (5,668) (241,257)
Cash flows from financing activities:    
Borrowings from debt obligations 737,913 834,980
Repayments and repurchases of debt obligations (824,740) (389,571)
Preferred dividends paid (17,622) (24,372)
Common dividends paid (24,397) (18,764)
Repurchase of stock (47,272) (58,787)
Payments for debt prepayment or extinguishment costs (8,567) 0
Payments for deferred financing costs (7,475) (11,416)
Payments for withholding taxes upon vesting of stock-based compensation (2,001) (1,842)
Contributions from noncontrolling interests 760 2,039
Distributions to noncontrolling interests (10,975) (10,925)
Cash flows (used in) provided by financing activities (204,376) 321,342
Effect of exchange rate changes on cash (10) (15)
Changes in cash, cash equivalents and restricted cash (216,232) 4,274
Cash, cash equivalents and restricted cash at beginning of period 352,206 974,544
Cash, cash equivalents and restricted cash at end of period 135,974 978,818
Supplemental disclosure of non-cash investing and financing activity:    
Fundings and repayments of loan receivables and loan participations, net 6,160 10,547
Contributions of land and development assets to equity method investments, net 0 4,073
Accrued repurchase of stock 499 0
Acquisition of land and development asset through joint venture consolidation 0 27,000
Assumption of mortgage by third party 0 228,000
Accounts payable for finance costs 0 1,878
Sales-type lease origination $ 0 $ 411,523