XML 51 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
2 Months Ended 12 Months Ended 10 Months Ended
Dec. 31, 2010
Dec. 31, 2012
Dec. 31, 2011
Nov. 09, 2010
Predecessor
Cash Flows from Operating Activities:        
Net loss $ (2,866) $ (68,659) $ (26,976) $ (21,030)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Provision for doubtful accounts 378 1,919 601 2,253
Depreciation 10,364 64,550 71,592 46,942
Amortization 655 6,540 6,624 6,471
Amortization/write-off of deferred finance costs   9,926   934
Amortization/write-off of debt market rate adjustments 990 19,346 11,309 29,648
Amortization of above/below market leases 3,793 24,153 25,194 (688)
Straight-line rent amortization (98) (3,608) (6,031) 137
Stock based compensation   1,801    
Reorganization items - finance costs related to emerged entities       11,073
Non-cash reorganization items       (7,066)
Net changes:        
Accounts receivable 3,376 (6,889) (3,742) (1,991)
Prepaid expenses and other assets 1,625 1,195 (2,371) 4,685
Deferred expenses (134) (7,140) (5,793) (2,291)
Restricted cash (13,290) (8,977) 10,536 (6,762)
Accounts payable and accrued expenses 2,572 4,120 (220) (21,212)
Net cash provided by operating activities 7,365 38,277 80,723 41,103
Cash Flows from Investing Activities:        
Acquisition/development of real estate and property additions/improvements (14,271) (64,343) (25,167) (9,204)
Demand deposit from affiliate   (150,000)    
Purchase of short term investment   (29,989)    
Sale of short term investment   29,989    
Restricted cash (29) (22,259) (203) (44)
Net cash used in investing activities (14,300) (236,602) (25,370) (9,248)
Cash Flows from Financing Activities:        
Proceeds received from rights offering   200,000    
Payments for offering costs   (8,392)    
Change in GGP investment, net 4,898 (8,394) 111,494 30,070
Contributions from noncontrolling interests   111    
Purchase of treasury stock   (170)    
Proceeds from refinance/issuance of mortgages, notes and loans payable   616,360    
Borrowing under revolving line of credit   10,000    
Principal payments on mortgages, notes and loans payable (2,565) (558,262) (168,459) (44,783)
Repayment under revolving line of credit   (10,000)    
Dividends paid   (6,943)    
Deferred financing costs   (28,097)    
Reorganization items - finance costs related to emerged entities       (11,073)
Net cash provided by (used in) financing activities 2,333 206,213 (56,965) (25,786)
Net change in cash and cash equivalents (4,602) 7,888 (1,612) 6,069
Cash and cash equivalents at beginning of period   204 1,816 349
Cash and cash equivalents at end of period 1,816 8,092 204 6,418
Supplemental Disclosure of Cash Flow Information:        
Interest paid, net of capitalized interest 7,509 67,822 59,943 58,404
Reorganization items paid       16,581
Non-Cash Transactions:        
Change in accrued capital expenditures included in accounts payable and accrued expenses (6,722) 4,281 50 8,136
Other non-cash GGP investment, net     11,948 (11,147)
Mortgage debt market rate adjustments related to RPI Businesses prior to the Effective Date       36,581
Non-cash changes related to acquisition accounting:        
Land   33,674   59,188
Buildings and equipment, net   109,601   (247,295)
Accounts and notes receivable, net       (23,039)
Deferred expenses, net   1,276   8,253
Prepaid and other assets   6,682   158,990
Mortgages, notes and loans payable   (146,363)   (55,866)
Accounts payable and accrued expenses   (4,870)   38,013
Equity       $ (26,050)