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CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
OPERATING ACTIVITIES    
Net Income $ 23,612 $ 20,502
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization from continuing operations 48,891 46,510
Depreciation and amortization from discontinued operations 0 483
Stock-based compensation expense 3,204 2,781
Gain on sales of land and real estate investments (24) (2,036)
Changes in operating assets and liabilities:    
Accrued income and other assets 2,202 2,832
Accounts payable, accrued expenses and prepaid rent 10,765 1,977
Other (71) 134
NET CASH PROVIDED BY OPERATING ACTIVITIES 88,579 73,183
INVESTING ACTIVITIES    
Real estate development (61,561) (34,834)
Purchases of real estate (72,397) (10,950)
Real estate improvements (16,053) (13,670)
Proceeds from sales of real estate investments 1,313 7,399
Repayments on mortgage loans receivable 78 3
Changes in accrued development costs 2,062 72
Changes in other assets and other liabilities (9,411) (6,429)
NET CASH USED IN INVESTING ACTIVITIES (155,969) (58,409)
FINANCING ACTIVITIES    
Proceeds from unsecured bank credit facilities 307,725 186,072
Repayments on unsecured bank credit facilities (272,218) (294,137)
Proceeds from secured debt 0 54,000
Repayments on secured debt (51,920) (68,282)
Proceeds from unsecured debt 100,000 80,000
Debt issuance costs (1,650) (1,474)
Distributions paid to stockholders (not including dividends accrued on unvested restricted stock) (48,252) (45,035)
Proceeds from common stock offerings 33,490 74,903
Proceeds from exercise of stock options 120 108
Proceeds from dividend reinvestment plan 156 168
Other (1,112) (244)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 66,339 (13,921)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,051) 853
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 1,258 174
CASH AND CASH EQUIVALENTS AT END OF PERIOD 207 1,027
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest, net of amount capitalized of $3,841 and $3,362 for 2013 and 2012, respectively $ 24,852 $ 26,162