XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 240,423 $ (66,183)
Adjustments to reconcile net income (loss) to cash (used in) provided by operating activities:    
Depreciation and amortization 57,259 66,153
Net amortization of debt premiums, discounts and issuance costs 2,472 2,812
Straight line rental income (1,745) (804)
Amortization of acquired real estate leases 105 (1,866)
Loss on modification or early extinguishment of debt 483 2,040
Impairment of assets 0 (174)
(Gain) loss on sale of properties (327,794) 122
Losses on equity securities, net 8,553 8,339
Other non-cash adjustments, net (628) (715)
Unconsolidated joint venture distributions 2,720 0
Equity in earnings of investees (3,354) 0
Change in assets and liabilities:    
Deferred leasing costs, net (2,568) (3,309)
Other assets 21,326 (20,533)
Accrued interest 15,734 29,035
Other liabilities (20,250) 19,905
Net cash (used in) provided by operating activities (7,264) 34,822
Cash flows from investing activities:    
Real estate improvements (55,791) (44,005)
Proceeds from sale of properties, net 252 8,702
Proceeds from sale of properties to joint venture, net 643,892 0
Net cash provided by (used in) investing activities 588,353 (35,303)
Cash flows from financing activities:    
Proceeds from issuance of senior unsecured notes, net 0 492,500
Proceeds from borrowings on revolving credit facility 0 800,000
Repayments of borrowings on revolving credit facility (100,000) 0
Repayment of term loan 0 (200,000)
Repayment of other debt (838) (779)
Payment of debt issuance costs (2,805) (4,007)
Repurchase of common shares (5) 0
Distributions to noncontrolling interest 0 (5,694)
Distributions to shareholders (2,390) (2,383)
Net cash (used in) provided by financing activities (106,038) 1,079,637
Increase in cash and cash equivalents and restricted cash 475,051 1,079,156
Cash and cash equivalents and restricted cash at beginning of period 1,016,945 90,849
Cash and cash equivalents and restricted cash at end of period $ 1,491,996 $ 1,170,005