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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 464,177 $ 119,745
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of real estate, in-place lease and other intangibles continuing operations 136,554 139,855
Depreciation and amortization of real estate, in-place lease and other intangibles discontinued operations   1,467
Amortization of deferred compensation 3,765 5,345
Amortization of deferred financing costs 3,858 5,280
Straight-line rents (5,007) (7,576)
Equity (income) loss from unconsolidated joint ventures (3,269) 908
Distributions of earnings from unconsolidated joint ventures 7,842 1,589
Gain on sales of real estate, net (317,258)  
Deferred income tax (benefit) expense (8,130) 49,156
Foreign exchange and other gains, net (77) (89)
Gain on sale of marketable securities (50,895)  
Other non-cash items (583) (922)
Changes in:    
Accounts receivable, net 3,467 3,705
Other assets, net (2,331) (6,847)
Accounts payable and accrued liabilities (38,984) (42,999)
Net cash provided by operating activities 193,129 268,617
Cash flows from investing activities:    
Acquisitions of real estate   (94,271)
Development of real estate (75,166) (99,096)
Leasing costs and tenant and capital improvements (22,693) (19,964)
Proceeds from sales of real estate, net 1,166,265  
Contributions to unconsolidated joint ventures (8,109) (10,136)
Distributions in excess of earnings from unconsolidated joint ventures 870 5,336
Net proceeds from the RIDEA II transaction (Note 4) 480,613  
Proceeds from the sales of Four Seasons investments (135,538)  
Principal repayments on loans receivable, direct financing leases and other 49,826 155,320
Investments in loans receivable and other (15,000) (117,282)
Decrease in restricted cash 3,073 14,336
Net cash provided by (used in) investing activities 1,715,217 (165,757)
Cash flows from financing activities:    
Net borrowings under bank line of credit   422,897
Net repayments under bank line of credit (375,812)  
Repayment under bank line of credit (37,032)  
Repayments of term loan (169,113)  
Repayments of senior unsecured notes   (500,000)
Repayments of mortgage and other debt (478,314) (36,918)
Issuance of common stock and exercise of options 3,472 34,122
Repurchase of common stock (3,532) (3,628)
Dividends paid on common stock (173,629) (268,186)
Issuance of noncontrolling interests 650 2,200
Distributions to noncontrolling interests (5,659) (4,889)
Net cash used in financing activities (1,238,969) (354,402)
Effect of foreign exchange on cash and cash equivalents 7 (293)
Net increase (decrease) in cash and cash equivalents 669,384 (251,835)
Cash and cash equivalents, beginning of period 94,730 346,500
Cash and cash equivalents, end of period 764,114 94,665
Less: cash and cash equivalents of discontinued operations   (3,578)
Cash and cash equivalents, end of period $ 764,114 $ 91,087