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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 201,744 $ 193,863
Adjustments to net income:    
Depreciation and amortization 303,476 278,124
Income from discontinued operations   (3,097)
Amortization of share-based compensation 7,598 7,653
Non-cash rental adjustments (6,462) (5,390)
Amortization of net premiums on mortgages payable (5,608) (10,843)
Amortization of deferred financing costs 6,806 8,027
Loss on interest rate swaps 7,138 409
Gain on sales of real estate (17,117) (14,211)
Provisions for impairment on real estate 9,182 2,676
Cash provided by discontinued operations   1,310
Change in assets and liabilities    
Accounts receivable and other assets 2,351 11,976
Accounts payable, accrued expenses and other liabilities (36,160) (30,416)
Net cash provided by operating activities 472,948 440,081
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (1,061,871) (1,076,391)
Improvements to real estate, including leasing costs (5,861) (4,538)
Proceeds from sales of real estate:    
Continuing operations 51,958 46,644
Discontinued operations   6,918
Collection of loans receivable   350
Restricted escrow deposits for Section 1031 tax-deferred exchanges and pending acquisitions 20,517 (27,340)
Net cash used in investing activities (995,257) (1,054,357)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash distributions to common stockholders (392,767) (356,735)
Cash dividends to preferred stockholders (20,310) (31,447)
Borrowings on line of credit 1,059,000 1,359,121
Payments on line of credit (843,000) (1,442,121)
Proceeds from notes and bonds payable issued   598,594
Principal payments on mortgages payable (140,825) (77,619)
Proceeds from term loans 250,000  
Proceeds from common stock offerings, net 276,430 528,615
Redemption of preferred units (6,750)  
Distributions to noncontrolling interests (1,267) (1,390)
Debt issuance costs (10,358) (5,609)
Proceeds from dividend reinvestment and stock purchase plan, net 360,941 56,580
Other items, including shares withheld upon vesting (5,563) (7,034)
Net cash provided by financing activities 525,531 620,955
Net increase in cash and cash equivalents 3,222 6,679
Cash and cash equivalents, beginning of period 3,852 10,257
Cash and cash equivalents, end of period $ 7,074 $ 16,936