| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||||||
69,018 | 279,115 | 158,365 | 70,205 | 79,383 | 46,909 | 33,715 | 19,513 | 12,842 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
181,549 | 191,379 | 113,882 | 68,472 | 63,079 | 43,332 | 33,281 | 30,263 | 26,591 |
Non-cash rental and related revenues | ||||||||
-19,449 | -36,443 | -30,352 | - | - | - | - | - | - |
Amortization of above and below market lease intangibles, net | ||||||||
- | - | - | 0 | 0 | - | - | - | - |
Non-cash interest income | ||||||||
2,212 | 2,300 | 769 | -582 | -626 | -325 | -79 | -24 | 0 |
Non-cash interest expense | ||||||||
10,100 | 10,100 | 7,800 | 5,678 | 5,279 | - | - | - | - |
Amortization of deferred financing costs | ||||||||
- | - | - | - | - | 4,045 | 3,280 | 2,685 | 1,998 |
Stock-based compensation expense | ||||||||
9,819 | 7,648 | 8,359 | 7,496 | 6,123 | 9,851 | 7,819 | 8,279 | 4,600 |
Gain (Loss) on Termination of Lease | ||||||||
10,579 | 0 | 0 | - | - | - | - | - | - |
Gain (Loss) on Extinguishment of Debt | ||||||||
-16,340 | -2,917 | -553 | -556 | 0 | -1,576 | -859 | -628 | 0 |
Amortization of debt premium/discount | ||||||||
- | - | - | - | - | -10 | -671 | -347 | -15 |
Straight-line rental income adjustments | ||||||||
- | - | - | 21,984 | 24,320 | 19,821 | 14,709 | 4,893 | 2,092 |
Provision for loan losses and other reserves | ||||||||
1,238 | 39,075 | 17,113 | 5,543 | 12,842 | 3,594 | 0 | 0 | - |
Write-off of straight-line rental income | ||||||||
- | - | - | - | - | - | - | 0 | - |
Change in fair value of contingent consideration | ||||||||
0 | 0 | 426 | 1,526 | 1,550 | 1,560 | -200 | 0 | 0 |
Net loss on sales of real estate | ||||||||
2,300 | 128,198 | 52,029 | -6,122 | -161 | 3,914 | 0 | 0 | - |
Gain on consolidation | ||||||||
- | - | - | - | 710 | 0 | 0 | - | - |
Impairment of real estate | ||||||||
121,819 | 1,413 | 1,326 | 29,811 | 0 | 0 | - | 2,481 | 0 |
Loss from unconsolidated joint venture | ||||||||
-6,796 | -5,431 | 0 | 0 | - | - | - | - | - |
Distributions of earnings from unconsolidated joint venture | ||||||||
13,865 | 8,910 | 0 | 0 | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, prepaid expenses and other assets, net | ||||||||
9,639 | 6,753 | 16,811 | 2,339 | 22,827 | 7,993 | 3,459 | 82 | 1,035 |
Accounts payable and accrued liabilities | ||||||||
-13,870 | -11,745 | -71,198 | 7,312 | 6,977 | 12,635 | 5,430 | 1,321 | 5,695 |
Restricted cash | ||||||||
- | - | - | - | 3,962 | 3,632 | 3,725 | 3,620 | 3,879 |
Net cash provided by operating activities | ||||||||
372,475 | 360,586 | 135,789 | 175,928 | 121,101 | 85,337 | 62,099 | 56,252 | 44,705 |
Cash flows from investing activities: | ||||||||
Acquisition of real estate | ||||||||
51,136 | 261,511 | 419,905 | 153,579 | 461,330 | 771,479 | 125,955 | 205,424 | 204,500 |
Cash Acquired from Acquisition | ||||||||
0 | 0 | 77,859 | 0 | 0 | - | - | - | - |
Origination and fundings of loans receivable | ||||||||
13,065 | 50,731 | 17,239 | 9,675 | 49,687 | 66,397 | 165,960 | 22,180 | 5,348 |
Origination of loans receivable | ||||||||
- | - | - | - | - | - | - | 22,180 | 0 |
Payments to Acquire Investments | ||||||||
0 | 5,313 | 2,749 | 7,348 | 12,804 | 15,486 | 7,038 | 0 | 0 |
Additions to real estate | ||||||||
25,451 | 27,697 | 6,954 | 1,003 | 3,689 | 1,471 | 764 | 1,046 | 86 |
Repayments of loans receivable | ||||||||
18,367 | 51,789 | 32,430 | 215,962 | 5,803 | 1,097 | 0 | 10,000 | 5,348 |
Notes Assumed | ||||||||
- | - | - | - | - | - | - | 0 | - |
Repayments of preferred equity investments | ||||||||
-5,079 | -6,870 | -3,755 | 0 | 0 | 6,949 | 0 | 0 | - |
Investment in unconsolidated joint venture | ||||||||
0 | 354,461 | 0 | 0 | - | - | - | - | - |
Release of contingent consideration held in escrow | ||||||||
- | - | - | - | 5,240 | 0 | 0 | - | - |
Net proceeds from the sales of real estate | ||||||||
329,050 | 382,560 | 150,243 | 98,006 | 27,241 | 27,264 | 2,208 | - | - |
Proceeds from sale of real estate | ||||||||
- | - | - | - | - | - | - | 0 | 0 |
Net cash (used in) provided by investing activities | ||||||||
262,844 | -258,494 | -182,560 | 142,363 | -489,226 | -826,472 | -297,509 | -218,650 | -204,586 |
Cash flows from financing activities: | ||||||||
Net repayments of revolving credit facility | ||||||||
-624,000 | -17,000 | 253,000 | 229,000 | 187,000 | 132,500 | 43,000 | 92,500 | 0 |
Proceeds from secured debt | ||||||||
- | - | - | - | 28,735 | 57,703 | 0 | - | - |
Net borrowings from revolving credit facility | ||||||||
- | - | - | - | - | - | - | - | 0 |
Proceeds from issuance of senior unsecured notes | ||||||||
638,779 | 0 | 0 | - | - | 499,250 | 200,000 | 106,000 | 0 |
Principal payments on senior unsecured notes | ||||||||
700,000 | 0 | 0 | - | - | 211,250 | 113,750 | 0 | 0 |
Proceeds from term loans | ||||||||
0 | 0 | 181,000 | 69,360 | 73,242 | 0 | 0 | - | - |
Principal payments on term loans | ||||||||
145,000 | 0 | 0 | - | - | - | - | - | - |
Proceeds from mortgage notes payable | ||||||||
- | - | - | - | - | - | - | 56,651 | 0 |
Principal payments on secured debt | ||||||||
3,436 | 140,338 | 4,145 | 14,768 | 3,132 | 89,110 | 10,994 | 62,226 | 3,027 |
Payments of deferred financing costs | ||||||||
15,598 | 352 | 15,337 | 5,937 | 1,452 | 19,131 | 8,954 | 6,800 | 677 |
Payments related to extinguishment of debt | ||||||||
10,502 | 2,043 | 0 | - | - | - | - | - | - |
Payment for Contingent Consideration Liability, Financing Activities | ||||||||
0 | 0 | 382 | 0 | 0 | - | 1,300 | 0 | 0 |
Distributions to noncontrolling interest | ||||||||
316 | 142 | 30 | 0 | 0 | - | - | - | - |
Preferred stock redemption | ||||||||
0 | 143,750 | 0 | 0 | - | - | - | - | - |
Issuance of common stock, net | ||||||||
549,328 | -499 | 366,800 | -1,289 | 139,403 | 510,147 | 34,517 | 53 | 163,242 |
Contributions by noncontrolling interests | ||||||||
- | - | - | - | 179 | 0 | 0 | - | - |
Issuance of preferred stock | ||||||||
- | - | - | - | - | - | 138,249 | 0 | 0 |
Dividends paid on common stock | ||||||||
335,435 | 325,220 | 182,089 | 119,264 | 109,897 | 81,489 | 58,151 | 48,929 | 31,640 |
Net cash provided by (used in) financing activities | ||||||||
-646,180 | -629,344 | 598,817 | -300,898 | 314,078 | 798,620 | 222,617 | 137,249 | 127,898 |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||||
-10,861 | -527,252 | 552,046 | 17,393 | -54,047 | 57,485 | -12,793 | -25,149 | -31,983 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | ||||||||
346 | -539 | 738 | 25 | -312 | 0 | 0 | - | - |
Supplemental disclosure of cash flow information: | ||||||||
Interest paid | ||||||||
123,854 | 137,668 | 69,686 | 59,234 | 53,875 | 34,468 | 38,541 | 32,613 | 28,557 |
Income taxes paid | ||||||||
3,911 | 1,800 | 714 | 854 | 657 | - | - | - | - |
Supplemental disclosure of non-cash investing activities: | ||||||||
Acquisition of business in CCP Merger | ||||||||
0 | 0 | 3,726,092 | 0 | 0 | - | - | - | - |
Assumption of indebtedness in CCP Merger | ||||||||
0 | 0 | 1,751,373 | 0 | 0 | 14,102 | 0 | - | - |
Stock exchanged in CCP Merger | ||||||||
0 | 0 | 2,052,578 | 0 | 0 | - | - | - | - |
Decrease in loans receivable and other investments due to acquisition of real estate | ||||||||
0 | 0 | 19,096 | 10,100 | 0 | 0 | - | - | - |
Proceeds from sale of real estate held by exchange accommodation titleholder variable interest entities | ||||||||
- | - | - | - | 0 | - | - | - | - |
Decrease in loans receivable and other investments due to acquisition of real estate | ||||||||
0 | 0 | -6,913 | 0 | 0 | - | - | - | - |
Assumption of secured indebtedness | ||||||||
- | - | - | - | 30,456 | - | - | - | - |
Increase in real estate investments due to variable interest consolidation | ||||||||
- | - | - | - | 10,700 | 0 | 0 | - | - |
Decrease in loans receivable and preferred equity due to variable interest consolidation | ||||||||
- | - | - | - | -8,615 | 0 | 0 | - | - |
Decrease in loans receivables/increase in real estate | ||||||||
- | - | - | - | - | 16,832 | 0 | 0 | - |