XML 59 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Proceeds from settlement of derivative $ (5,725) $ 0
Net Income (Loss) Available to Common Stockholders, Diluted 37,581 35,254
Net Income Loss From Discontinuing Operation Available To Common Stockholders Diluted 3,391 330
Net Income Loss From Continuing Operation Available To Common Stockholders Diluted 34,190 34,924
Operating activities:    
Net income 43,533 41,206
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain on early extinguishment of debt 0 (4,539)
Income from discontinued operations (3,391) (330)
Gain on sale of land (330) 0
Equity in income from joint ventures 311 351
Distributions from joint ventures 0 223
Depreciation and amortization 15,327 12,822
Amortization of deferred financing costs 1,015 999
Amortization of above and below Market Leases 48 0
Share-based compensation expense to management and trustees 2,328 1,548
Decrease (increase) in restricted cash (3,425) 2,946
Increase in mortgage notes accrued interest receivable (107) (36)
Decrease (increase) in accounts receivable, net 371 (1,309)
Increase in direct financing lease receivable (694) (1,212)
Decrease (increase) in other assets (2,039) 76
Decrease in accounts payable and accrued liabilities (14,712) (10,460)
Increase (decrease) in unearned rents and interest 3,793 (3,072)
Net operating cash provided by continuing operations 41,406 38,511
Net operating cash provided by discontinued operations 124 1,661
Net cash provided by operating activities 41,530 40,172
Investing activities:    
Payments to Acquire Real Estate 12,264 8,174
Proceeds from sale of real estate 915 0
Investment in unconsolidated joint ventures 0 (433)
Investment in mortgage notes receivable (4,472) (12,769)
Proceeds from mortgage note receivable paydown 76 0
Investment in promissory notes receivable 2,207 0
Additions to properties under development (50,621) (17,719)
Net cash used by investing activities of continuing operations (62,848) (39,095)
Net proceeds from sale of real estate from discontinued operations 0 24,146
Net cash used by investing activities (62,848) (14,949)
Financing activities:    
Proceeds from long-term debt facilities 47,000 70,000
Principal payments on long-term debt (39,728) (48,950)
Deferred financing fees paid (449) (67)
Net proceeds from issuance of common shares 79,579 84
Impact of stock option exercises, net (21) (692)
Purchase of common shares for treasury (2,892) (3,245)
Dividends paid to shareholders (49,638) (41,146)
Net cash provided (used) by financing activities 33,851 (24,016)
Effect of exchange rate changes on cash (85) (108)
Net increase in cash and cash equivalents 12,448 1,099
Cash and cash equivalents at beginning of the year 7,958 10,664
Cash and cash equivalents at end of the year 20,406 11,763
Supplemental schedule of non-cash activity:    
Transfer of property under development to rental property 243 7,151
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses 14,470 9,373
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest 34,384 29,352
Cash received during the year for income taxes $ 355 $ 221