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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Net Income (Loss) Available to Common Stockholders, Diluted $ 79,683 $ 72,388
Operating activities:    
Net income 91,587 84,292
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Income from discontinued operations (58) (3,387)
Gain on sale of real estate (23,924) (330)
Deferred income tax expense 177 1,249
gain on sale of investment in a direct financing lease 0 220
Costs associated with loan refinancing 243 0
Equity in income from joint ventures 362 578
Depreciation and amortization 41,204 31,329
Amortization of deferred financing costs 2,269 2,076
Amortization of above and below Market Leases 97 96
Share-based compensation expense to management and trustees 4,057 4,671
Share-based compensation expense included in retirement severance expense 6,377 0
Decrease (increase) in restricted cash 464 (2,671)
Increase in mortgage notes accrued interest receivable (3,009) (236)
Increase in accounts receivable, net (9,314) (533)
Increase in direct financing lease receivable (1,882) (1,682)
Increase in other assets (2,057) (4,641)
Increase (decrease) in accounts payable and accrued liabilities 6,035 (2)
Increase in unearned rents and interest 7,977 4,801
Net operating cash provided by continuing operations 119,881 114,234
Net operating cash provided by discontinued operations 526 120
Net cash provided by operating activities 120,407 114,354
Investing activities:    
Acquisition of rental properties and other assets 93,221 44,340
Proceeds from sale of real estate 43,790 3,293
Proceeds from settlement of derivative 0 (5,725)
Investment in mortgage notes receivable (35,589) (22,293)
Proceeds from mortgage note receivable paydown 308 176
Investment in promissory notes receivable 0 3,957
Proceeds from Sale of Lease Receivables 4,741 46,092
Additions to properties under development (206,955) (151,343)
Net cash used by investing activities (286,926) (166,647)
Financing activities:    
Proceeds from long-term debt facilities 558,914 126,000
Principal payments on long-term debt (259,659) (42,976)
Deferred financing fees paid (6,854) (634)
Net proceeds from issuance of common shares 240 79,669
Impact of stock option exercises, net (35) (24)
Purchase of common shares for treasury (8,223) (2,892)
Dividends paid to shareholders (114,600) (101,249)
Net cash provided by financing activities 169,783 57,894
Effect of exchange rate changes on cash (454) 30
Net increase in cash and cash equivalents 2,810 5,631
Cash and cash equivalents at beginning of the year 3,336 7,958
Cash and cash equivalents at end of the year 6,146 13,589
Supplemental schedule of non-cash activity:    
Transfer of property under development to rental property 62,028 57,638
Transfer of land held for development to property under development 167,600 0
Acquisition of real estate in exchange for assumption of debt at fair value 0 101,441
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses 13,682 15,525
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest 42,143 42,060
Cash paid during the period for income taxes 748 750
Interest cost capitalized 9,493 2,897
Increase (decrease) in accrued capital expenditures $ (5,967) $ 44