XML 32 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (USD $)
In Thousands
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Cash flows from operating activities:   
Net income (loss)$ 65,262$ (271,490)$ 110,408
Adjustments to reconcile net income (loss) to net cash provided by operating activities:   
Depreciation of buildings and tenant improvements271,058266,803246,441
Amortization of deferred leasing and other costs89,12673,32368,511
Amortization of deferred financing costs13,89713,67913,640
Straight-line rent adjustment(15,233)(18,832)(15,118)
Impairment charges9,834302,56711,431
(Gain) loss on debt extinguishment16,349(20,700)(1,953)
(Gain) loss on acquisitions(57,715)1,062 
Deferred tax asset valuation allowance 7,278 
Earnings from land and depreciated property sales(72,716)(19,480)(29,612)
Build-for-Sale operations, net 14,48280,751
Third-party construction contracts, net(6,449)(4,583)125,855
Other accrued revenues and expenses, net68,89247,83026,875
Operating distributions received in excess of equity in earnings from unconsolidated companies8,8518,5335,618
Net cash provided by operating activities391,156400,472642,847
Cash flows from investing activities:   
Development of real estate investments(119,404)(268,890)(436,256)
Acquisition of real estate investments and related intangible assets, net of cash acquired(488,539)(31,658)(20,123)
Acquisition of undeveloped land(14,404)(5,474)(40,893)
Second generation tenant improvements, leasing costs and building improvements(88,723)(79,054)(74,814)
Other deferred leasing costs(38,905)(23,329)(30,498)
Other assets(7,260)(392)281
Proceeds from land and depreciated property sales, net499,520256,330116,563
Capital distributions from unconsolidated companies22,119095,392
Capital contributions and advances to unconsolidated companies, net(53,194)(23,481)(132,244)
Net cash used for investing activities(288,790)(175,948)(522,592)
Cash flows from financing activities:   
Proceeds from issuance of common shares, net298,004551,13617,100
Proceeds from issuance of preferred shares, net  290,014
Payments for repurchases of preferred shares(118,787) (12,405)
Proceeds from unsecured debt issuance250,000500,000325,000
Payments on and repurchases of unsecured debt(392,597)(707,016)(261,479)
Proceeds from secured debt financings4,158290,418 
Payments on secured indebtedness including principal amortization(207,060)(11,396)(55,600)
Borrowings (payments) on lines of credit, net177,276(467,889)(62,408)
Distributions to common shareholders(162,015)(151,333)(283,375)
Distributions to preferred shareholders(69,468)(73,451)(71,439)
Contributions from (distributions to) noncontrolling interests, net(5,741)(1,524)(12,837)
Cash settlement of interest rate swaps  (14,625)
Deferred financing costs(5,074)(28,679)(3,681)
Net cash used for financing activities(231,304)(99,734)(145,735)
Net increase (decrease) in cash and cash equivalents(128,938)124,790(25,480)
Cash and cash equivalents at beginning of year147,32222,53248,012
Cash and cash equivalents at end of year18,384147,32222,532
Non-cash investing and financing activities:   
Assumption of indebtedness and other liabilities for real estate acquisitions527,464 39,480
Contribution of properties to, net of debt assumed by, unconsolidated companies41,60920,663133,312
Investments and advances related to acquisition of previously unconsolidated companies184,140206,852 
Distribution of property from unconsolidated company  76,449
Conversion of Limited Partner Units to common shares$ (8,055)$ 592$ 13,149