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Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities    
Net income $ 643,078 $ 176,632
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 136,355 118,265
Equity in net income from unconsolidated joint ventures (10,390) (25,381)
Distributions of cumulative earnings from unconsolidated joint ventures 7,866 15,965
Equity in net gain on sale of interest in unconsolidated joint venture   (126,769)
Purchase price fair value adjustment (488,890)  
Gain on sale of discontinued operations (46,085)  
Gain on sale of debt securities (19,840)  
Loan loss and other investment reserves, net of recoveries (1,870) 10,985
Loss on investments in marketable securities 133 285
(Gain) loss on early extinguishment of debt (971) 1,389
Deferred rents receivable (44,343) (19,177)
Other non-cash adjustments 3,774 (11,851)
Changes in operating assets and liabilities:    
Restricted cash - operations 15,487 (5,468)
Tenant and other receivables (841) 3,893
Related party receivables 1,157 2,671
Deferred lease costs (14,534) (13,775)
Other assets 5,169 12,109
Accounts payable, accrued expenses and other liabilities (5,323) 16,705
Deferred revenue and land leases payable (3,084) (3,824)
Net cash provided by operating activities 176,848 152,654
Investing Activities    
Acquisitions of real estate property (331,972)  
Additions to land, buildings and improvements (57,442) (34,594)
Escrowed cash - capital improvements/acquisition deposits 46,861 (54,076)
Investments in unconsolidated joint ventures (60,321) (81,903)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 102,089 10,339
Net proceeds from disposition of real estate/joint venture interest 150,893 504,172
Other investments 631 (7,611)
Debt and preferred equity and other investments, net of repayments/participations 84,528 (89,428)
Net cash (used in) provided by investing activities (64,733) 246,899
Financing Activities    
Proceeds from mortgages and other loans payable 690,000 104,100
Repayments of mortgages and other loans payable (744,873) (20,925)
Proceeds from revolving credit facility and senior unsecured notes 725,079 250,000
Repayments of revolving credit facility and senior unsecured notes (962,395) (792,543)
Proceeds from stock options exercised and DRIP issuance 7,097 13,989
Net proceeds from sale of common stock 419,463  
Net proceeds from sale of preferred stock   122,019
Purchase of treasury stock (4,197)  
Distributions to noncontrolling interests in other partnerships (133,712) (6,814)
Redemption of noncontrolling interest in operating partnership   (11,096)
Distributions to noncontrolling interests in operating partnership (382) (262)
Dividends paid on common and preferred stock (31,662) (28,223)
Deferred loan costs and capitalized lease obligation (19,134) (33,936)
Net cash used in financing activities (54,716) (403,691)
Net increase (decrease) in cash and cash equivalents 57,399 (4,138)
Cash and cash equivalents at beginning of period 332,830 343,715
Cash and cash equivalents at end of period $ 390,229 $ 339,577