| Dec'18 | Dec'17 | Dec'16 | Dec'15 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||
208,830 | -30,333 | -62,502 | -144,143 | |||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation, Depletion and Amortization | ||||||
45,515 | 54,014 | 64,979 | 56,283 | |||
Amortization of deferred financing costs | ||||||
2,436 | 2,813 | 7,117 | 5,936 | |||
Amortization of equity-based compensation | ||||||
4,544 | 23,731 | 18,239 | 837 | |||
Allowance for uncollectible accounts | ||||||
403 | 1,481 | 1,294 | 115 | |||
Other (gain) loss, net | ||||||
1,339 | -11,878 | -12,044 | -8,669 | |||
Gain on sales, net | ||||||
241,325 | 23,393 | 34,552 | 1,376 | |||
Extinguishment of debt | ||||||
-4,221 | -2,011 | -7,317 | - | |||
Real estate impairment losses | ||||||
828 | 0 | 27,500 | 0 | |||
Goodwill impairment following the sale of operating real estate | ||||||
8,061 | 0 | 0 | 1,710 | |||
Foreign currency loss on deposits included in transaction costs | ||||||
- | - | - | 6,402 | |||
Amortization of capitalized above/below market leases | ||||||
654 | 627 | 2,463 | 1,191 | |||
Straight line rental income | ||||||
7,268 | 6,314 | 6,705 | 5,695 | |||
Deferred income tax (benefit)/expense, net | ||||||
562 | -1,515 | -4,952 | -2,992 | |||
Changes in assets and liabilities: | ||||||
Restricted cash | ||||||
- | - | - | 16,483 | |||
Receivables | ||||||
2,907 | 2,077 | 1,890 | 7,844 | |||
Other assets | ||||||
1,248 | 15 | 3,063 | 1,023 | |||
Accounts payable and accrued expenses | ||||||
4,682 | -6,018 | -4,461 | 28,551 | |||
Due to related party | ||||||
6,046 | -1,401 | 987 | 3,447 | |||
Other liabilities | ||||||
1,440 | -3,516 | 7,064 | 16,235 | |||
Net cash provided by (used in) operating activities | ||||||
34,135 | 21,973 | 30,847 | -50,180 | |||
Cash flows from investing activities: | ||||||
Acquisition of operating real estate | ||||||
- | - | - | 1,921,511 | |||
Improvements of operating real estate | ||||||
15,319 | 17,668 | 10,413 | 3,003 | |||
Origination of preferred equity investments | ||||||
5,722 | 35,347 | 0 | 0 | |||
Proceeds from sale of operating real estate | ||||||
971,658 | 141,360 | 395,226 | 22,623 | |||
Settlement of foreign currency forwards | ||||||
4,784 | 979 | 787 | - | |||
Other assets | ||||||
0 | 141 | 4,432 | 0 | |||
Escrow release | ||||||
4,858 | 0 | 0 | - | |||
Deferred leasing costs | ||||||
1,553 | 3,712 | 0 | 0 | |||
Changes in restricted cash | ||||||
- | - | - | -1,359 | |||
Net cash provided by (used in) investing activities | ||||||
949,138 | 85,471 | 379,594 | -1,900,532 | |||
Cash flows from financing activities: | ||||||
Repayment of mortgage and other notes payable | ||||||
514,988 | 77,804 | 200,666 | 127,280 | |||
Borrowings from credit facility | ||||||
20,000 | 35,000 | 65,000 | 0 | |||
Borrowings from mortgage and other notes payable | ||||||
23,600 | 5,649 | 11,770 | 1,224,327 | |||
Repayment of credit facility | ||||||
20,000 | 35,000 | 65,000 | 0 | |||
Proceeds of issuance of Senior Notes | ||||||
- | - | - | 340,000 | |||
Repurchase of Senior Notes | ||||||
0 | 0 | 273,028 | 0 | |||
Repayment of Senior Notes | ||||||
0 | 0 | 67,200 | 0 | |||
Payment of financing costs | ||||||
866 | 2,020 | 3,938 | 33,470 | |||
Purchase of derivative instruments | ||||||
3,384 | 0 | 414 | 31,069 | |||
Settlement of derivatives | ||||||
3,293 | 0 | 0 | 0 | |||
Issuance and vesting of restricted stock, net of tax withholding | ||||||
0 | 10,994 | 2,546 | 0 | |||
Repurchase of common stock | ||||||
83,444 | 0 | 58,616 | 38,082 | |||
Contribution of NorthStar Realty | ||||||
- | - | - | 250,000 | |||
Dividends | ||||||
31,244 | 33,466 | 35,184 | 9,584 | |||
Redemption of Common Units | ||||||
582 | 0 | 0 | - | |||
Distributions to noncontrolling interest | ||||||
131 | 1,915 | 247 | - | |||
Distributions to non-controlling interest | ||||||
- | - | - | 0 | |||
Net transactions with NorthStar Realty | ||||||
- | - | - | -653,534 | |||
Distributions to noncontrolling interest | ||||||
- | - | - | 3,190 | |||
Net cash provided by (used in) financing activities | ||||||
-607,718 | -120,550 | -630,069 | 2,231,566 | |||
Effect of foreign currency translation on cash and cash equivalents and restricted cash | ||||||
-2,614 | 8,138 | -8,537 | 890 | |||
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||
372,941 | -4,968 | -228,165 | 281,744 | |||
Reconciliation of cash, cash equivalents and restricted cash | ||||||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Reclassification of operating real estate to assets held for sale | ||||||
68,408 | 160,651 | 22,327 | 5,318 | |||
Conversion of Common Units to common stock | ||||||
216 | 3,057 | 0 | 0 | |||
Redemption of Common Units | ||||||
- | - | - | 170,694 | |||
Reclassification related to measurement adjustments and other | ||||||
- | - | - | 5,291 | |||
Reclassification of intangibles to assets and liabilities held for sale | ||||||
234 | 4,467 | 2,045 | 776 | |||
Reclassification of other assets in investing activities to assets held for sale | ||||||
3,205 | 3,316 | 740 | 0 | |||
Formation of Operating Partnership | ||||||
- | - | - | 8,749 | |||
Assumption of mortgage note payable upon acquisition | ||||||
- | - | - | 273,021 | |||
Reclassification of other assets to operating real estate | ||||||
- | - | - | 52,245 | |||
Reclassification of other assets and liabilities to assets held for sale | ||||||
0 | 0 | 2,523 | 0 | |||
Reclassification of other assets and liabilities to assets held for sale | ||||||
3,205 | 3,316 | 740 | - | |||
Reclassification related to measurement adjustments/other | ||||||
0 | 0 | 827 | 5,291 | |||
Retirement of shares of common stock | ||||||
- | - | - | 3,342 | |||
Assumption of working capital items upon acquisition | ||||||
- | - | - | 2,569 | |||
Assumption of deferred tax liabilities and corresponding goodwill | ||||||
- | - | - | 24,491 | |||
Reallocation of interest in Operating Partnership | ||||||
163 | 1,817 | 2,252 | 852 | |||
Amounts payable relating to financing costs | ||||||
- | - | - | 1,808 | |||
Accrued capital expenditures, deferred assets | ||||||
261 | 2,609 | 1,975 | 692 | |||
Payment of interest expense | ||||||
18,916 | 22,251 | 33,483 | 24,273 | |||
Payment of income tax | ||||||
2,941 | 4,433 | 1,928 | 1,298 | |||