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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Document Fiscal Year Focus 2015  
Operating Activities    
Net income $ 103,137 $ 112,808
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 189,044 166,123
Loss on early extinguishment of debt 189 525
Gain on sales of real estate – land parcels 0 (805)
Impairment of real estate 14,510 0
Equity in earnings of unconsolidated joint ventures (1,825) 0
Distributions of earnings from unconsolidated joint ventures 740 0
Amortization of loan fees 8,348 8,090
Amortization of debt premiums/discounts (282) 100
Amortization of acquired below-market leases (5,121) (2,191)
Deferred rent (34,421) (35,511)
Stock compensation expense 12,922 9,372
Investment gains (22,368) (9,481)
Investment losses 11,157 8,725
Changes in operating assets and liabilities:    
Restricted cash 24 0
Tenant receivables 380 (939)
Deferred leasing costs (47,725) (25,910)
Other assets (13,721) (12,228)
Accounts payable, accrued expenses, and tenant security deposits 31,423 36,446
Net cash provided by operating activities 246,411 255,124
Investing Activities    
Proceeds from sale of properties 92,455 28,378
Additions to real estate (362,215) (345,074)
Purchase of real estate (248,933) (97,785)
Deposits for investing activities (6,707) (7,292)
Change in restricted cash related to construction projects 0 6,694
Investment in unconsolidated real estate joint ventures (7,979) (67,525)
Additions to investments (67,965) (35,484)
Sales of investments 39,590 13,883
Repayment of notes receivable 4,264 29,866
Net cash used in investing activities (557,490) (474,339)
Financing Activities    
Borrowings from secured notes payable 47,375 108,626
Repayments of borrowings from secured notes payable (12,217) (228,909)
Proceeds from issuance of unsecured senior notes payable 0 698,908
Borrowings from unsecured senior line of credit 1,432,000 890,000
Repayments of borrowings from unsecured senior line of credit (893,000) (952,000)
Repayments of borrowings from unsecured senior bank term loans (25,000) (125,000)
Change in restricted cash related to financing activities (4,737) 375
Payment of loan fees (4,182) (7,989)
Proceeds from the issuance of common stock 5,052 0
Dividends on common stock (162,280) (150,540)
Dividends on preferred stock (18,740) (19,414)
Contributions by noncontrolling interests 340 19,410
Distributions to and purchases of noncontrolling interests (62,973) (3,487)
Net cash provided by financing activities 301,638 229,980
Effect of foreign exchange rate changes on cash and cash equivalents (187) (1,438)
Net (decrease) increase in cash and cash equivalents (9,628) 9,327
Cash and cash equivalents at beginning of period 86,011 57,696
Cash and cash equivalents at end of period 76,383 67,023
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, net of interest capitalized 64,197 33,783
Change in accrued construction 7,305 (36,235)
Non-Cash Investing Activities    
Assumption of secured notes payable in connection with purchase of properties (82,000) (48,329)
Payable for purchase of noncontrolling interest $ (51,887) $ 0