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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2021
Oct. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (152,731) $ (486,413) $ (99,515)   $ (335,529)
Adjustments to reconcile net loss to net cash provided by operating activities:          
Depreciation and amortization 49,504 158,574 256,310   215,030
Net amortization of deferred financing costs, discounts and premiums on available-for-sale securities and debt discounts 174,439 1,877 117,489   8,764
Reorganization items (non-cash)   256,433     25,294
Net amortization of intangible lease assets and liabilities 3,346 659 20,798   (574)
(Gain) loss on sales of real estate assets 3 (12,187) (5,345)   (4,696)
Gain on insurance proceeds (433)   (687)   (1,644)
Gain on deconsolidation (19,126) (55,131) (36,250)    
Loss on available-for-sale securities     39    
Write-off of development projects 3 745 834   952
Share-based compensation expense 282 1,186 11,885   5,819
Loss on impairment 0 146,781 252   213,358
Gain on extinguishment of debt     (7,344)   (32,521)
Equity in (earnings) losses of unconsolidated affiliates (797) 10,823 (19,796)   14,854
Distributions of earnings from unconsolidated affiliates 2,247 16,358 23,905   10,093
Change in estimate of uncollectable revenues 1,008 5,692 (4,463)   49,329
Change in deferred tax accounts (10,853)   1,128   14,558
Changes in:          
Tenant and other receivables (4,574) 25,707 (10,494)   (75,109)
Other assets 1,120 368 (355)   (10,070)
Accounts payable and accrued liabilities 13,611 35,587 (40,157)   35,457
Net cash provided by operating activities 57,049 107,059 208,234   133,365
CASH FLOWS FROM INVESTING ACTIVITIES:          
Additions to real estate assets (5,455) (26,168) (39,064)   (53,453)
Acquisitions of real estate assets     (5,766)    
Proceeds from sales of real estate assets   33,265 9,633   7,817
Purchases of available-for-sale securities (449,986) (787,746) (741,042)   (235,182)
Proceeds from disposal of investments 7,103        
Redemptions of available-for-sale securities 299,988 1,019,735 600,697    
Proceeds from insurance   1,064 743   988
Payments received on mortgage and other notes receivable 13 840 74   1,095
Additional investments in and advances to unconsolidated affiliates (1,126) 327 (3,269)   (11,024)
Distributions in excess of equity in earnings of unconsolidated affiliates 10,758 10,689 25,547   10,625
Changes in other assets (311) (4,512) (4,238)   (1,263)
Net cash (used in) provided by investing activities (139,016) 247,494 (156,685)   (280,397)
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from mortgage and other indebtedness   50,041 425,000   365,246
Principal payments on mortgage and other indebtedness (11,690) (194,283) (524,171)   (154,658)
Additions to deferred financing costs (427) (1,684) (18,834)   (590)
Proceeds from issuances of common stock         5
Contributions from noncontrolling interests   298 589   692
Payment of tax withholdings for restricted stock awards   (11) (1,740)   (87)
Distributions to noncontrolling interests   (354) (2,769)   (912)
Dividends paid to common shareholders     (23,873)    
Net cash (used in) provided by financing activities (12,117) (145,993) (145,798)   209,696
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (94,084) 208,560 (94,249)   62,664
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 330,282 121,722 236,198 $ 121,722 59,058
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 236,198 330,282 141,949 236,198 121,722
Reconciliation from consolidated statements of cash flows to consolidated balance sheets:          
Cash and cash equivalents 169,554 [1] 260,207 44,718 [1] 169,554 [1] 61,781
Restricted cash (1):          
Restricted cash [2] 33,012 33,876 58,182 33,012 37,320
Mortgage escrows [2] 33,632 36,199 39,049 $ 33,632 22,621
SUPPLEMENTAL INFORMATION          
Cash paid for interest, net of amounts capitalized 11,589 43,176 124,149   125,366
Cash paid for reorganization items $ 525 $ 178,944 $ 6,532   $ 301
[1] As of December 31, 2022, includes $195,034 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $202,901 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 10.
[2] Included in intangible lease assets and other assets in the consolidated balance sheets