XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 514 $ (43,223)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 53,269 68,943
Net amortization of deferred financing costs, discounts on available-for-sale securities and debt discounts 7,852 63,655
Net amortization of intangible lease assets and liabilities 5,337 6,323
Gain on sales of real estate assets (1,596) (16)
Gain on deconsolidation (28,151) (36,250)
Write-off of development projects 17  
Share-based compensation expense 3,252 2,743
Equity in losses (earnings) of unconsolidated affiliates 1,256 (8,566)
Distributions of earnings from unconsolidated affiliates 3,335 7,840
Change in estimate of uncollectable revenues (138) (737)
Change in deferred tax accounts 225 (67)
Changes in:    
Tenant and other receivables 7,934 3,305
Other assets (2,667) (5,114)
Accounts payable and accrued liabilities (17,264) (16,407)
Net cash provided by operating activities 33,175 42,429
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate assets (6,729) (5,762)
Proceeds from sales of real estate assets 4,622 16
Purchases of available-for-sale securities (15,004) (149,936)
Redemptions of available-for-sale securities 50,850 149,998
Payments received on mortgage and other notes receivable 21 13
Additional investments in and advances to unconsolidated affiliates (4,682) (997)
Distributions in excess of equity in earnings of unconsolidated affiliates 1,504 4,697
Changes in other assets (710) (471)
Net cash provided by (used in) investing activities 29,872 (2,442)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on mortgage and other indebtedness (26,155) (29,500)
Additions to deferred financing costs   (1,668)
Contributions from noncontrolling interests   143
Shares of common stock withheld for tax associated with performance stock units (1,793)  
Distributions to noncontrolling interests (3)  
Dividends paid to common shareholders (82,058)  
Net cash used in financing activities (110,009) (31,025)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (46,962) 8,962
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 141,949 236,198
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 94,987 245,160
Reconciliation from condensed consolidated statements of cash flows to condensed consolidated balance sheets:    
Cash and cash equivalents 22,555 [1] 185,744
Restricted cash:    
Restricted cash 35,006 28,678
Mortgage escrows 37,426 30,738
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 94,987 245,160
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized $ 32,762 21,453
Cash paid for reorganization items   $ 3,156
[1] As of March 31, 2023, includes $187,693 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $203,730 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 7.