Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands)	2016 Y 10-K 12/31/2016 USD	2017 Y 10-K 12/31/2017 USD	2018 Y 10-K 12/31/2018 USD	2019 Y 10-K 12/31/2019 USD	2020 Q3 YTD 10-Q 9/30/2020 USD
Document Name As Of Date Currency Code	2016 Y 10-K 12/31/2016 USD	2017 Y 10-K 12/31/2017 USD	2018 Y 10-K 12/31/2018 USD	2019 Y 10-K 12/31/2019 USD	2020 Q3 YTD 10-Q 9/30/2020 USD
Cash flows from operating activities
Net income (loss)	(200,824)	32,378	(88,030)	(307,106)	239,085	Column Line
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Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	806,548	745,499	659,948	495,232	353,400	Column Line
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Gain on real estate assets, net	(55,722)	(61,536)	(96,068)	(296,447)	(77,117)	Column Line
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Impairments from held for sale	0	20,027	0	0	NA	Column Line
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Impairments	303,751	50,548	54,647	47,091	36,871	Column Line
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Equity-based compensation	10,728	16,751	13,314	13,101	10,137	Column Line
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Equity in income of unconsolidated entities	415	(2,726)	(1,869)	(2,618)	(2,406)	Column Line
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Distributions from unconsolidated entities	1,433	3,646	1,366	284	1,753	Column Line
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Loss on investments	0	(65)	(4,092)	492	607	Column Line
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Loss on derivative instruments	1,191	(2,976)	(355)	58	0	Column Line
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Non-cash restructuring expense	NA	0	0	3,951	0	Column Line
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Loss on extinguishment and forgiveness of debt, net	771	(18,373)	(5,360)	17,910	1,419	Column Line
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Surrender of Limited Partner OP Units	NA	0	0	(26,536)	0	Column Line
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Changes in assets and liabilities
Investment in direct financing leases	3,976	2,097	2,078	1,622	1,117	Column Line
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Rent and tenant receivables, operating lease right-of-use and other assets, net	(52,626)	(21,394)	(34,096)	(18,367)	(38,277)	Column Line
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Due from affiliates	(416)	1,163	0	0	NA	Column Line
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Assets held for sale classified as discontinued operations	0	13,812	(2,492)	0	NA	Column Line
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Accounts payable and accrued expenses	(3,323)	10,742	1,688	(16,719)	(9,645)	Column Line
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Deferred rent, operating lease and other liabilities	(17,740)	(395)	7,162	(19,551)	(2,936)	Column Line
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Due to affiliates	(214)	50	(66)	0	NA	Column Line
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Liabilities related to discontinued operations	0	4,019	(13,861)	0	NA	Column Line
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Net cash provided by operating activities	797,948	793,267	493,914	(107,603)	514,008	Column Line
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Cash flows from investing activities
Investments in real estate assets	(100,194)	(699,004)	(500,625)	(394,662)	(147,121)	Column Line
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Capital expenditures and leasing costs	(16,568)	(21,694)	(22,291)	(37,957)	(21,102)	Column Line
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Real estate developments	(17,411)	(14,850)	(9,221)	(28,125)	(16,592)	Column Line
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Principal repayments received on mortgage notes receivable	5,417	6,796	5,761	106	0	Column Line
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Investments in unconsolidated entities	(25,777)	0	(771)	(2,767)	(21,348)	Column Line
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Return of investment from unconsolidated entities	2,580	1,972	48	1,138	1,961	Column Line
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Proceeds from disposition of real estate	1,000,700	445,525	502,289	1,067,532	346,675	Column Line
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Proceeds from disposition of discontinued operations	0	0	122,915	0	NA	Column Line
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Investment in leasehold improvements and other assets	(2,259)	(1,191)	(841)	(1,716)	(612)	Column Line
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Deposits for real estate assets	(17,856)	(37,226)	(13,412)	(8,453)	(1,973)	Column Line
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Investments in mezzanine position	NA	NA	NA	NA	(9,959)	Column Line
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Proceeds from sale of investments and other assets	0	400	46,966	9,837	0	Column Line
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Uses and refunds of deposits for real estate assets	13,305	36,111	17,267	6,328	4,036	Column Line
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Proceeds from the settlement of property-related insurance claims	0	355	1,434	1,957	654	Column Line
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Line of credit advances to Cole REITs	(10,300)	(16,400)	(2,200)	0	NA	Column Line
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Line of credit repayments from Cole REITs	50,000	25,100	3,800	0	NA	Column Line
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Net cash provided by investing activities	881,637	(274,106)	151,119	613,218	134,619	Column Line
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Cash flows from financing activities
Proceeds from mortgage notes payable	3,112	4,652	187	705	1,032	Column Line
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Payments on mortgage notes payable and other debt, including debt extinguishment costs	(337,022)	(424,385)	(137,887)	(374,058)	(197,382)	Column Line
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Proceeds from credit facility	1,033,000	329,000	1,934,000	1,386,000	902,000	Column Line
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Payments on credit facility	(1,993,000)	(645,107)	(1,716,000)	(739,000)	(1,052,000)	Column Line
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Proceeds from corporate bonds	1,000,000	600,000	546,304	593,052	594,864	Column Line
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Redemptions of corporate bonds, including extinguishment costs	(1,311,203)	0	0	(1,160,977)	(26)	Column Line
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Repurchases of convertible notes, including extinguishment costs	0	0	(597,500)	(82,254)	(69,362)	Column Line
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Payments of deferred financing costs	(19,872)	(9,575)	(25,471)	(4,190)	(7,275)	Column Line
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Repurchases of Common Stock under the share repurchase programs	0	(518)	(50,154)	0	NA	Column Line
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Proceeds from 2016 term loan	300,000	NA	NA	NA	NA	Column Line
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Repayment of 2016 term loan	(300,000)	NA	NA	NA	NA	Column Line
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Repurchases of Common Stock to settle tax obligations	(4,652)	(2,148)	(2,326)	(1,618)	(2,386)	Column Line
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Proceeds from the issuance of Common Stock, net of underwriters' discount and offering expenses	702,765	0	0	1,014,215	89,279	Column Line
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Payments of equity issuance costs	(280)	NA	NA	NA	NA	Column Line
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Redemption of Series F Preferred Stock	NA	0	0	(300,122)	(300,104)	Column Line
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Redemption of Limited Partners' Common OP Units	NA	NA	NA	NA	(149)	Column Line
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Contributions from non-controlling interest holders	675	101	120	64	0	Column Line
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Distributions paid	(580,508)	(608,615)	(606,679)	(665,241)	(418,722)	Column Line
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Payment related to the surrender of Limited Partner OP Units	NA	0	0	(191,974)	NA	Column Line
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Net cash used in financing activities	(1,506,985)	(756,595)	(655,406)	(525,398)	(460,231)	Column Line
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Net change in cash and cash equivalents and restricted cash	172,600	(237,434)	(10,373)	(19,783)	188,396	Column Line
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Cash and cash equivalents and restricted cash, beginning of period
Cash and cash equivalents and restricted cash, beginning of period	128,870	301,470	64,036	53,663	33,880	Column Line
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Less - cash and cash equivalents of discontinued operations	(4,968)	(2,973)	(2,198)	0	NA	Column Line
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Cash and cash equivalents and restricted cash from continuing operations, beginning of period	123,902	298,497	61,838	53,663	NA	Column Line
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Cash and cash equivalents and restricted cash, end of period
Cash and cash equivalents and restricted cash, end of period	301,470	64,036	53,663	33,880	222,276	Column Line
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Less - cash and cash equivalents of discontinued operations	(2,973)	(2,198)	0	0	NA	Column Line
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Cash and cash equivalents and restricted cash from continuing operations, end of period	298,497	61,838	53,663	33,880	NA	Column Line
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Reconciliation of Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents at beginning of period	64,135	253,479	34,176	30,758	12,921	Column Line
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Restricted cash at beginning of period	59,767	45,018	27,662	22,905	20,959	Column Line
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Cash and cash equivalents and restricted cash at beginning of period	123,902	298,497	61,838	53,663	33,880	Column Line
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Cash and cash equivalents at end of period	253,479	34,176	30,758	12,921	207,321	Column Line
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Restricted cash at end of period	45,018	27,662	22,905	20,959	14,955	Column Line
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Cash and cash equivalents and restricted cash at end of period	298,497	61,838	53,663	33,880	222,276	Column Line
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Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.