XML 66 R9.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
11 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2014
Jan. 31, 2013
Net earnings (loss) $ (70,790,000)us-gaap_ProfitLoss $ (21,020,000)us-gaap_ProfitLoss $ 36,271,000us-gaap_ProfitLoss
Depreciation and amortization 273,054,000us-gaap_DepreciationAndAmortization 230,466,000us-gaap_DepreciationAndAmortization 212,254,000us-gaap_DepreciationAndAmortization
Amortization of mortgage procurement costs 8,375,000us-gaap_AmortizationOfFinancingCosts 8,518,000us-gaap_AmortizationOfFinancingCosts 10,966,000us-gaap_AmortizationOfFinancingCosts
Impairment of real estate 421,361,000us-gaap_ImpairmentOfRealEstate 277,095,000us-gaap_ImpairmentOfRealEstate 30,660,000us-gaap_ImpairmentOfRealEstate
Impairment of unconsolidated entities 0fce_ImpairmentOfUnconsolidatedEntities 3,124,000fce_ImpairmentOfUnconsolidatedEntities 390,000fce_ImpairmentOfUnconsolidatedEntities
Write-offs of abandoned development projects 30,214,000us-gaap_NoncashProjectAbandonmentCosts 283,000us-gaap_NoncashProjectAbandonmentCosts 26,850,000us-gaap_NoncashProjectAbandonmentCosts
(Gain) loss on extinguishment of debt (4,549,000)us-gaap_GainsLossesOnExtinguishmentOfDebt 1,179,000us-gaap_GainsLossesOnExtinguishmentOfDebt (7,096,000)us-gaap_GainsLossesOnExtinguishmentOfDebt
Other income - net gain on sale of a fiber optics network (6,734,000)us-gaap_GainLossOnSaleOfInvestments 0us-gaap_GainLossOnSaleOfInvestments 0us-gaap_GainLossOnSaleOfInvestments
Net (gain) loss on land held for divestiture activity 7,382,000fce_NetGainLossOnLandHeldForDivestitureActivity 0fce_NetGainLossOnLandHeldForDivestitureActivity (6,480,000)fce_NetGainLossOnLandHeldForDivestitureActivity
Net loss on disposition of partial interest in development project 0us-gaap_GainLossOnSaleOfInterestInProjects 20,298,000us-gaap_GainLossOnSaleOfInterestInProjects 0us-gaap_GainLossOnSaleOfInterestInProjects
Net gain on disposition of full or partial interest in rental properties (496,092,000)us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal (30,281,000)us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal 0us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
Net gain on change in control of interests (2,762,000)us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss (230,660,000)us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss (8,351,000)us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
Deferred income tax expense (benefit) 11,704,000us-gaap_DeferredIncomeTaxExpenseBenefit (22,127,000)us-gaap_DeferredIncomeTaxExpenseBenefit 46,523,000us-gaap_DeferredIncomeTaxExpenseBenefit
Earnings from unconsolidated entities (107,825,000)us-gaap_IncomeLossFromEquityMethodInvestments (90,032,000)us-gaap_IncomeLossFromEquityMethodInvestments (85,798,000)us-gaap_IncomeLossFromEquityMethodInvestments
Net (gain) loss on land held for divestiture activity of unconsolidated entities (1,338,000)fce_NetGainOnLandHeldForDivestitureActivityOfUnconsolidatedEntities 0fce_NetGainOnLandHeldForDivestitureActivityOfUnconsolidatedEntities 40,777,000fce_NetGainOnLandHeldForDivestitureActivityOfUnconsolidatedEntities
Stock-based compensation expense 10,371,000us-gaap_ShareBasedCompensation 13,729,000us-gaap_ShareBasedCompensation 9,355,000us-gaap_ShareBasedCompensation
Amortization and mark-to-market adjustments of derivative instruments 7,951,000fce_AmortizationAndMarkToMarketAdjustmentsOfDerivativeInstruments 3,889,000fce_AmortizationAndMarkToMarketAdjustmentsOfDerivativeInstruments (7,249,000)fce_AmortizationAndMarkToMarketAdjustmentsOfDerivativeInstruments
Cash distributions from operations of unconsolidated entities 64,346,000us-gaap_EquityMethodInvestmentDividendsOrDistributions 82,725,000us-gaap_EquityMethodInvestmentDividendsOrDistributions 80,027,000us-gaap_EquityMethodInvestmentDividendsOrDistributions
Non-cash operating expenses and deferred taxes included in discontinued operations 72,922,000us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations 8,528,000us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations 14,207,000us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
Gain on disposition of rental properties included in discontinued operations (41,831,000)us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations (28,100,000)us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations (100,900,000)us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations
Decrease in land inventory 8,966,000fce_IncreaseDecreaseinLandInventory 14,170,000fce_IncreaseDecreaseinLandInventory 11,401,000fce_IncreaseDecreaseinLandInventory
Decrease in land held for divestiture 199,000fce_IncreaseDecreaseinLandHeldforDivestiture 0fce_IncreaseDecreaseinLandHeldforDivestiture 55,650,000fce_IncreaseDecreaseinLandHeldforDivestiture
Decrease (increase) in notes and accounts receivable (12,684,000)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable 11,928,000us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable (2,228,000)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable
(Increase) decrease in other assets 38,612,000us-gaap_IncreaseDecreaseInOtherOperatingAssets (285,000)us-gaap_IncreaseDecreaseInOtherOperatingAssets 4,888,000us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in accounts payable, accrued expenses and other liabilities (48,047,000)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 8,595,000us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 55,328,000us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net cash provided by operating activities 162,805,000us-gaap_NetCashProvidedByUsedInOperatingActivities 262,022,000us-gaap_NetCashProvidedByUsedInOperatingActivities 417,445,000us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows from Investing Activities      
Capital expenditures (461,628,000)us-gaap_PaymentsToAcquireAndDevelopRealEstate (419,869,000)us-gaap_PaymentsToAcquireAndDevelopRealEstate (803,865,000)us-gaap_PaymentsToAcquireAndDevelopRealEstate
Payment of lease procurement costs (8,308,000)us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements (13,251,000)us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements (11,992,000)us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements
Decrease (increase) in notes receivable (42,158,000)fce_Increasedecreaseinnotesreceivable 39,435,000fce_Increasedecreaseinnotesreceivable (37,583,000)fce_Increasedecreaseinnotesreceivable
Decrease in restricted cash used for investing purposes 58,555,000us-gaap_IncreaseDecreaseInRestrictedCash 82,276,000us-gaap_IncreaseDecreaseInRestrictedCash 117,690,000us-gaap_IncreaseDecreaseInRestrictedCash
Proceeds from disposition of full or partial interests in rental properties or development project 625,027,000fce_ProceedsFromDispositionOfRentalPropertiesAndOtherInvestments 279,012,000fce_ProceedsFromDispositionOfRentalPropertiesAndOtherInvestments 113,842,000fce_ProceedsFromDispositionOfRentalPropertiesAndOtherInvestments
Contributions to investments in and advances to unconsolidated entities (41,093,000)us-gaap_PaymentsToAcquireEquityMethodInvestments (147,698,000)us-gaap_PaymentsToAcquireEquityMethodInvestments (56,977,000)us-gaap_PaymentsToAcquireEquityMethodInvestments
Distributions from investments in and advances to unconsolidated entities 97,602,000us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital 136,338,000us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital 167,607,000us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
Net cash (used in) provided by investing activities 227,997,000us-gaap_NetCashProvidedByUsedInInvestingActivities (43,757,000)us-gaap_NetCashProvidedByUsedInInvestingActivities (511,278,000)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash Flows from Financing Activities      
Proceeds from nonrecourse mortgage debt and notes payable 629,714,000fce_ProceedsFromNonrecourseMortgageDebtAndNotesPayable 602,939,000fce_ProceedsFromNonrecourseMortgageDebtAndNotesPayable 907,608,000fce_ProceedsFromNonrecourseMortgageDebtAndNotesPayable
Principal payments on nonrecourse mortgage debt and notes payable (889,566,000)fce_PrincipalPaymentsOnNonrecourseMortgageDebtAndNotesPayable (796,898,000)fce_PrincipalPaymentsOnNonrecourseMortgageDebtAndNotesPayable (593,810,000)fce_PrincipalPaymentsOnNonrecourseMortgageDebtAndNotesPayable
Borrowings on revolving credit facility 899,794,000us-gaap_ProceedsFromLinesOfCredit 965,925,000us-gaap_ProceedsFromLinesOfCredit 458,700,000us-gaap_ProceedsFromLinesOfCredit
Payments on revolving credit facility (899,794,000)us-gaap_RepaymentsOfLinesOfCredit (965,925,000)us-gaap_RepaymentsOfLinesOfCredit (458,700,000)us-gaap_RepaymentsOfLinesOfCredit
Proceeds from issuance of Convertible Senior Notes due 2020, net of issuance costs 291,250,000us-gaap_ProceedsFromConvertibleDebt 0us-gaap_ProceedsFromConvertibleDebt 0us-gaap_ProceedsFromConvertibleDebt
Redemption of Puttable Equity-Linked Senior Notes due 2014 (1,058,000)fce_RepaymentsofPuttableEquitylinkedseniornotes 0fce_RepaymentsofPuttableEquitylinkedseniornotes 0fce_RepaymentsofPuttableEquitylinkedseniornotes
Redemption of Senior Notes due 2015 (53,253,000)us-gaap_RepaymentsOfSeniorDebt 0us-gaap_RepaymentsOfSeniorDebt 0us-gaap_RepaymentsOfSeniorDebt
Redemption of Senior Notes due 2017 (132,144,000)fce_RepaymentofSeniorNotes 0fce_RepaymentofSeniorNotes 0fce_RepaymentofSeniorNotes
Redemption of Senior Notes due 2034 (218,951,000)us-gaap_EarlyRepaymentOfSeniorDebt 0us-gaap_EarlyRepaymentOfSeniorDebt 0us-gaap_EarlyRepaymentOfSeniorDebt
Make-whole premium and inducements related to exchange of Senior Notes due 2014 for Class A common stock (5,490,000)fce_ConvertibleDebtConversionInducementsNetOfInterest 0fce_ConvertibleDebtConversionInducementsNetOfInterest 0fce_ConvertibleDebtConversionInducementsNetOfInterest
Transaction costs related to exchange of Senior Notes for Class A common stock (2,300,000)us-gaap_PaymentOfFinancingAndStockIssuanceCosts 0us-gaap_PaymentOfFinancingAndStockIssuanceCosts 0us-gaap_PaymentOfFinancingAndStockIssuanceCosts
Payment of deferred financing costs (10,239,000)us-gaap_PaymentsOfFinancingCosts (20,803,000)us-gaap_PaymentsOfFinancingCosts (25,217,000)us-gaap_PaymentsOfFinancingCosts
Change in restricted cash used for financing purposes 0us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities 0us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities (8,208,000)us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
Purchase of treasury stock (3,167,000)us-gaap_PaymentsForRepurchaseOfCommonStock (4,009,000)us-gaap_PaymentsForRepurchaseOfCommonStock (1,963,000)us-gaap_PaymentsForRepurchaseOfCommonStock
Inducements related to conversion of preferred stock for Class A common stock 0us-gaap_PreferredStockConversionsInducements 0us-gaap_PreferredStockConversionsInducements (19,069,000)us-gaap_PreferredStockConversionsInducements
Transaction costs related to conversion of preferred stock for Class A common stock 0fce_PaymentOfTransactionCostsRelatedToConversionOfPreferredStockForClassCommonStock 0fce_PaymentOfTransactionCostsRelatedToConversionOfPreferredStockForClassCommonStock (3,301,000)fce_PaymentOfTransactionCostsRelatedToConversionOfPreferredStockForClassCommonStock
Redemption of Series A preferred stock (5,063,000)us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock 0us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock 0us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
Proceeds from equity call hedge related to the issuance of Series A preferred stock 10,231,000fce_ProceedsFromEquityCallHedgeRelatedToSeriesPreferredStockIssuance 0fce_ProceedsFromEquityCallHedgeRelatedToSeriesPreferredStockIssuance 0fce_ProceedsFromEquityCallHedgeRelatedToSeriesPreferredStockIssuance
Exercise of stock options 1,153,000us-gaap_ProceedsFromStockOptionsExercised 789,000us-gaap_ProceedsFromStockOptionsExercised 8,368,000us-gaap_ProceedsFromStockOptionsExercised
Dividends paid to preferred shareholders (185,000)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock 0us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (13,060,000)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Acquisitions of noncontrolling interests (98,687,000)fce_AcquisitionsofNoncontrollingInterests (94,168,000)fce_AcquisitionsofNoncontrollingInterests (27,335,000)fce_AcquisitionsofNoncontrollingInterests
Contribution from redeemable noncontrolling interest 0fce_ContributionsFromRedeemableNoncontrollingInterest 0fce_ContributionsFromRedeemableNoncontrollingInterest 11,348,000fce_ContributionsFromRedeemableNoncontrollingInterest
Contributions from noncontrolling interests 80,339,000us-gaap_ProceedsFromMinorityShareholders 154,831,000us-gaap_ProceedsFromMinorityShareholders 1,886,000us-gaap_ProceedsFromMinorityShareholders
Distributions to noncontrolling interests (36,400,000)us-gaap_PaymentsToMinorityShareholders (14,634,000)us-gaap_PaymentsToMinorityShareholders (27,680,000)us-gaap_PaymentsToMinorityShareholders
Net cash (used in) provided by financing activities (443,816,000)us-gaap_NetCashProvidedByUsedInFinancingActivities (171,953,000)us-gaap_NetCashProvidedByUsedInFinancingActivities 209,567,000us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and equivalents (53,014,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 46,312,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 115,734,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and equivalents at beginning of period 333,220,000us-gaap_CashAndCashEquivalentsAtCarryingValue 280,206,000us-gaap_CashAndCashEquivalentsAtCarryingValue 217,486,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and equivalents at end of period $ 280,206,000us-gaap_CashAndCashEquivalentsAtCarryingValue $ 326,518,000us-gaap_CashAndCashEquivalentsAtCarryingValue $ 333,220,000us-gaap_CashAndCashEquivalentsAtCarryingValue