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Consolidated Statements of Cash Flows (USD $)
11 Months Ended 12 Months Ended
Dec. 31, 2013
Jan. 31, 2013
Jan. 31, 2012
Net earnings (loss) $ (70,790,000) $ 36,271,000 $ (568,000)
Depreciation and amortization – Real Estate Groups 279,189,000 218,695,000 198,290,000
Amortization of mortgage procurement costs 8,561,000 11,182,000 10,997,000
Impairment of real estate 475,555,000 30,660,000 235,000
Impairment of unconsolidated entities 0 390,000 40,284,000
Write-off of abandoned development projects 30,214,000 26,850,000 8,838,000
Gain on extinguishment of debt (4,549,000) (7,096,000) (9,590,000)
Other income - net gain on sale of a fiber optics network (6,734,000) 0 0
Net (gain) loss on land held for divestiture activity 7,382,000 (6,480,000) 115,654,000
Net gain on disposition of partial interests in rental properties (496,092,000) 0 (17,665,000)
Net gain on change in control of interests (2,762,000) (6,766,000) 0
Deferred income tax expense (benefit) (9,008,000) 46,559,000 (50,746,000)
Equity in earnings (107,825,000) (85,798,000) (21,147,000)
Net (gain) loss on land held for divestiture activity of unconsolidated entities (1,338,000) 40,777,000 41,902,000
Stock-based compensation expense 10,371,000 9,355,000 7,650,000
Amortization and mark-to-market adjustments of derivative instruments 7,661,000 (7,738,000) 2,279,000
Non-cash interest expense related to Senior Notes 290,000 489,000 1,737,000
Cash distributions from operations of unconsolidated entities 64,346,000 80,027,000 59,399,000
Non-cash operating expenses included in discontinued operations 33,119,000 5,929,000 42,157,000
Gain on disposition included in discontinued operations (41,831,000) (100,900,000) (133,554,000)
Decrease (increase) in land inventory 8,966,000 11,401,000 (1,040,000)
Decrease in land held for divestiture 199,000 55,650,000 0
(Increase) decrease in notes and accounts receivable (12,684,000) (2,228,000) 3,575,000
Decrease (increase) in other assets 38,612,000 4,888,000 (11,433,000)
(Decrease) increase in accounts payable, accrued expenses and other liabilities (48,047,000) 55,328,000 15,863,000
Net cash provided by operating activities 162,805,000 417,445,000 303,117,000
Cash Flows from Investing Activities      
Capital expenditures (461,628,000) (803,865,000) (760,381,000)
Payment of lease procurement costs (8,308,000) (11,992,000) (22,907,000)
Increase in notes receivable (42,158,000) (37,583,000) (14,489,000)
Decrease in restricted cash and escrowed funds used for investing purposes 58,555,000 117,690,000 94,596,000
Proceeds from disposition of full or partial interests in rental properties and other investment 625,027,000 113,842,000 353,243,000
Decrease in investments in and advances to unconsolidated entities 97,602,000 167,607,000 37,249,000
Increase in investments in and advances to unconsolidated entities (41,093,000) (56,977,000) (123,069,000)
Net cash provided by (used in) investing activities 227,997,000 (511,278,000) (435,758,000)
Cash Flows from Financing Activities      
Proceeds from nonrecourse mortgage debt and notes payable 629,714,000 907,608,000 695,449,000
Principal payments on nonrecourse mortgage debt and notes payable (889,566,000) (593,810,000) (572,584,000)
Borrowings on bank revolving credit facility 899,794,000 458,700,000 464,575,000
Payments on bank revolving credit facility (899,794,000) (458,700,000) (601,727,000)
Proceeds from issuance of Convertible Senior Notes due 2020, net of $8,750 of issuance costs 291,250,000 0 0
Proceeds from issuance of Convertible Senior Notes due 2018, net of $10,625 of issuance costs 0 0 339,375,000
Redemption of Puttable Equity-Linked Senior Notes due 2014 (1,058,000) 0 0
Redemption of Senior Notes due 2015 (53,253,000) 0 0
Redemption of Senior Notes due 2017 (132,144,000) 0 0
Redemption of Senior Notes due 2034 (218,951,000) 0 0
Payment of Puttable Equity-Linked Senior Notes due 2011 0 0 (39,407,000)
Make-whole premium and inducements related to exchange of Senior Notes due 2014 for Class A common stock (5,490,000) 0 0
Transaction costs related to exchange of Senior Notes for Class A common stock (2,300,000) 0 (3,200,000)
Deferred financing costs (10,239,000) (25,217,000) (14,923,000)
Change in restricted cash and escrowed funds and book overdrafts 0 (8,208,000) (10,371,000)
Purchase of treasury stock (3,167,000) (1,963,000) (1,670,000)
Inducements related to conversion of preferred stock for Class A common stock 0 (19,069,000) 0
Transaction costs related to conversion of preferred stock for Class A common stock 0 (3,301,000) 0
Redemption of Series A preferred stock (5,063,000) 0 0
Proceeds from equity call hedge related to the issuance of Series A preferred stock 10,231,000 0 0
Exercise of stock options 1,153,000 8,368,000 195,000
Dividends paid to preferred shareholders (185,000) (13,060,000) (15,400,000)
Acquisitions of noncontrolling interests (98,687,000) (27,335,000) 0
Contribution from redeemable noncontrolling interest 0 11,348,000 0
Contributions from noncontrolling interests 80,339,000 1,886,000 6,087,000
Distributions to noncontrolling interests (36,400,000) (27,680,000) (89,644,000)
Net cash (used in) provided by financing activities (443,816,000) 209,567,000 156,755,000
Net (decrease) increase in cash and equivalents (53,014,000) 115,734,000 24,114,000
Cash and equivalents at beginning of period 333,220,000 217,486,000 193,372,000
Cash and equivalents at end of period 280,206,000 333,220,000 217,486,000
Operating Activities      
(Increase) decrease in land inventory (59,270,000) (4,201,000) 7,628,000
Decrease (increase) in land held for divestiture 1,717,000 (2,944,000) 0
Decrease in notes and accounts receivable 10,989,000 7,937,000 16,785,000
Decrease in other assets 104,444,000 2,465,000 155,458,000
(Decrease) increase in accounts payable, accrued expenses and other liabilities (47,233,000) (34,991,000) 14,188,000
Total effect on operating activities 10,647,000 (31,734,000) 194,059,000
Investing Activities      
Decrease in projects under construction and development 87,857,000 33,662,000 420,663,000
Decrease in completed rental properties 842,261,000 170,033,000 1,230,710,000
Decrease in restricted cash and escrowed funds 4,326,000 14,463,000 149,586,000
(Increase) decrease in investments in and advances to unconsolidated entities (32,078,000) 21,826,000 (298,492,000)
Total effect on investing activities 902,366,000 239,984,000 1,502,467,000
Financing Activities      
Decrease in nonrecourse mortgage debt and notes payable (903,085,000) (215,008,000) (1,648,245,000)
Decrease in senior and subordinated debt (218,675,000) (6,049,000) (40,000,000)
Decrease in restricted cash and escrowed funds 0 (8,208,000) 0
Decrease in preferred stock (5,489,000) (209,448,000) 0
Increase in Class A common stock 4,680,000 4,617,000 959,000
Increase in additional paid-in capital 241,268,000 200,448,000 36,904,000
Increase in treasury stock (12,868,000) 0 0
(Decrease) increase in redeemable noncontrolling interest (50,546,000) 8,424,000 6,887,000
Increase (decrease) in noncontrolling interest 31,702,000 558,000 (53,031,000)
Total effect on financing activities $ (913,013,000) $ (208,250,000) $ (1,696,526,000)