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Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Apr. 30, 2012
Apr. 30, 2011
Cash Flows from Operating Activities    
Net earnings $ 23,773,000 $ 47,473,000
Depreciation and amortization 52,833,000 55,853,000
Amortization of mortgage procurement costs 2,869,000 2,882,000
Impairment of real estate 1,381,000 4,835,000
Write-off of abandoned development projects 447,000 157,000
Loss on extinguishment of debt 719,000 296,000
Net gain on disposition of partial interests in rental properties 0 (9,561,000)
Deferred income tax expense 8,444,000 116,000
Equity in earnings of unconsolidated entities (3,773,000) (19,994,000)
Stock-based compensation expense 2,528,000 2,811,000
Amortization and mark-to-market adjustments of derivative instruments (3,133,000) (153,000)
Non-cash interest expense related to Senior Notes 81,000 557,000
Cash distributions from operations of unconsolidated entities 16,014,000 9,459,000
Cost of sales of land included in projects under construction and development and completed rental properties 2,825,000 1,535,000
Increase in land held for development and sale (5,337,000) (9,957,000)
Decrease (increase) in notes and accounts receivable 22,527,000 (10,326,000)
Decrease (increase) in other assets 4,098,000 (9,794,000)
Increase in restricted cash and escrowed funds used for operating purposes (1,392,000) (536,000)
Decrease in accounts payable, accrued expenses and other liabilities (42,338,000) (14,802,000)
Net cash provided by operating activities 76,706,000 47,446,000
Cash Flows from Investing Activities    
Capital expenditures (196,354,000) (167,698,000)
Payment of lease procurement costs (2,049,000) (2,932,000)
Decrease (increase) in other assets 4,662,000 (13,082,000)
Decrease in restricted cash and escrowed funds used for investing purposes 158,794,000 87,233,000
Proceeds from disposition of full or partial interests in rental properties 8,642,000 193,338,000
(Increase) decrease in investments in and advances to unconsolidated entities (21,645,000) 7,563,000
Net cash (used in) provided by investing activities (47,950,000) 104,422,000
Cash Flows from Financing Activities    
Proceeds from nonrecourse mortgage debt and notes payable 210,957,000 101,444,000
Principal payments on nonrecourse mortgage debt and notes payable (157,733,000) (147,313,000)
Borrowings on bank revolving credit facility 75,000,000 250,075,000
Payments on bank revolving credit facility (75,000,000) (305,800,000)
Payment of transaction costs related to exchanges of Convertible Senior Notes due 2016 for Class A common stock   (2,200,000)
Payment of deferred financing costs (4,132,000) (8,334,000)
Change in restricted cash and escrowed funds and book overdrafts   (10,590,000)
Purchase of treasury stock (1,182,000) (1,339,000)
Exercise of stock options 6,000 169,000
Dividends paid to preferred shareholders (3,850,000) (3,850,000)
Contributions from noncontrolling interests 64,000 38,000
Distributions to noncontrolling interests (2,694,000) (12,899,000)
Net cash provided by (used in) financing activities 41,436,000 (140,599,000)
Net increase in cash and equivalents 70,192,000 11,269,000
Cash and equivalents at beginning of period 217,486,000 193,372,000
Cash and equivalents at end of period 287,678,000 204,641,000
Operating Activities    
Increase in land held for development and sale (1,350,000) (5,690,000)
Decrease in notes and accounts receivable 2,535,000 29,345,000
Decrease in other assets 1,869,000 62,234,000
Decrease in restricted cash and escrowed funds 49,000 9,127,000
Increase in accounts payable and accrued expenses 7,533,000 20,645,000
Total effect on operating activities 10,636,000 115,661,000
Investing Activities    
Increase in projects under construction and development (14,713,000) (14,628,000)
Decrease in completed rental properties 26,995,000 469,948,000
Increase in investments in and advances to affiliates (809,000) (42,659,000)
Total effect on investing activities 11,473,000 412,661,000
Financing Activities    
Decrease in nonrecourse mortgage debt and notes payable (22,871,000) (532,841,000)
(Decrease) increase in additional paid-in capital (1,116,000) 4,054,000
Increase in redeemable noncontrolling interest 2,980,000 619,000
Decrease in noncontrolling interest (1,102,000) (154,000)
Total effect on financing activities (22,109,000) (528,322,000)
Segment Discontinued Operations
   
Cash Flows from Operating Activities    
Depreciation and amortization   2,538,000
Amortization of mortgage procurement costs   567,000
Deferred income tax expense 3,019,000 3,921,000
Gain on disposition of rental properties $ (8,879,000) $ (10,431,000)