Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2015 |
Sep. 30, 2014 |
| Operating activities |
|
|
| Net income (loss) attributable to common stockholders |
$ 103,382
|
$ (67,912)
|
| Adjustments to reconcile net income (loss) attributable to common stockholders to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
195,460
|
184,586
|
| Impairments |
56,256
|
42,061
|
| Amortization of deferred financing costs |
5,893
|
4,084
|
| Derivative net settlements, amortization and other interest rate hedge losses |
(95)
|
(83)
|
| Amortization of debt discounts (premiums) |
1,670
|
(821)
|
| Stock-based compensation expense |
10,757
|
8,503
|
| (Gain) loss on debt extinguishment |
(2,489)
|
64,496
|
| Debt extinguishment costs |
(3,760)
|
(59,069)
|
| Gains on dispositions of real estate and other assets, net |
(82,576)
|
(2,171)
|
| Non-cash revenue |
(15,947)
|
(12,877)
|
| Other |
165
|
274
|
| Changes in operating assets and liabilities: |
|
|
| Deferred costs and other assets, net |
(4,935)
|
(3,111)
|
| Accounts payable, accrued expenses and other liabilities |
7,433
|
(3,248)
|
| Net cash provided by operating activities |
271,214
|
154,712
|
| Investing activities |
|
|
| Acquisitions of real estate |
(703,106)
|
(569,806)
|
| Capitalized real estate expenditures |
(7,449)
|
(3,244)
|
| Investments in loans receivable |
(4,020)
|
0
|
| Collections of principal on loans receivable and real estate assets under direct financing leases |
4,450
|
4,641
|
| Proceeds from dispositions of real estate and other assets |
397,325
|
37,886
|
| Transfers of net sales proceeds (to) from restricted accounts pursuant to 1031 Exchanges |
(2,489)
|
20,784
|
| Transfers of net sales proceeds from (to) Master Trust Release |
40,126
|
(20,240)
|
| Net cash used in investing activities |
(275,163)
|
(529,979)
|
| Financing activities |
|
|
| Borrowings under Revolving Credit Facilities |
535,000
|
515,535
|
| Repayments under Revolving Credit Facilities |
(475,181)
|
(425,219)
|
| Borrowings under Convertible Notes |
0
|
757,500
|
| Repayments under mortgages and notes payable |
(347,242)
|
(562,104)
|
| Deferred financing costs |
(3,782)
|
(20,011)
|
| Proceeds from issuance of common stock, net of offering costs |
347,211
|
287,454
|
| Proceeds from exercise of stock options |
46
|
183
|
| Offering costs paid on equity component of Convertible Notes |
0
|
(1,609)
|
| Purchase of treasury stock |
(1,700)
|
(2,920)
|
| Dividends paid/distributions to equity owners |
(216,231)
|
(189,510)
|
| Transfers from (to) reserve/escrow deposits with lenders |
17,857
|
(490)
|
| Net cash (used in) provided by financing activities |
(144,022)
|
358,809
|
| Net decrease in cash and cash equivalents |
(147,971)
|
(16,458)
|
| Cash and cash equivalents, beginning of period |
176,181
|
66,588
|
| Cash and cash equivalents, end of period |
$ 28,210
|
$ 50,130
|