XML 84 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities:      
Net Income $ 265,156 $ 152,421 $ 16,739
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 157,665 148,413 157,290
Amortization of debt deferred costs and intangibles, net (7,518) (1,162) 5,215
Impairment loss 2,815 15,436 75,874
Equity in (earnings) losses of real estate joint ventures and partnerships, net (35,112) 1,558 (7,834)
Gain on acquisition 0 (1,869) (4,559)
Gain on sale and acquisition of real estate joint venture and partnership interests (33,670) (14,203) 0
Gain on sale of property (119,965) (69,623) (11,952)
Distributions of income from real estate joint ventures and partnerships, net 3,498 3,141 2,186
Changes in accrued rent and accounts receivable, net (4,606) 82 6,662
Changes in other assets, net (19,587) (19,008) (22,482)
Changes in accounts payable, accrued expenses and other liabilities, net 18,420 (878) (13,525)
Other, net 6,896 13,022 11,117
Net cash provided by operating activities 233,992 227,330 214,731
Cash Flows from Investing Activities:      
Acquisition of real estate and land (105,765) (198,171) (49,880)
Development and capital improvements (76,992) (95,743) (94,108)
Proceeds from sale of property and real estate equity investments, net 282,705 591,091 113,043
Change in restricted deposits and mortgage escrows 39,505 (30,520) (794)
Notes receivable from real estate joint ventures and partnerships and other receivables - Advances (289) (6,614) (2,926)
Notes receivable from real estate joint ventures and partnerships and other receivables - Collections 19,411 75,081 15,687
Real estate joint ventures and partnerships - Investments (26,241) (9,792) (18,583)
Real estate joint ventures and partnerships - Distributions of capital 59,932 44,976 17,271
Proceeds from tax increment revenue bonds 0 0 16,545
Purchase of investments (58,836) 0 0
Other, net 1,224 0 0
Net cash provided by (used in) investing activities 134,654 370,308 (3,745)
Cash Flows from Financing Activities:      
Proceeds from issuance of debt 573,542 300,098 215,750
Principal payments of debt (449,629) (538,438) (336,760)
Changes in unsecured credit facilities (66,000) (100,500) 86,500
Proceeds from issuance of common shares of beneficial interest, net 5,968 8,267 3,999
Repurchase of preferred shares of beneficial interest (275,000) (72,500) 0
Common and preferred dividends paid (165,900) (173,202) (165,721)
Debt issuance costs paid (6,716) (4,250) (4,002)
Distributions to noncontrolling interests (20,151) (12,770) (23,560)
Contributions from noncontrolling interests 106,613 2,123 3,717
Other, net 599 (504) (1,126)
Net cash used in financing activities (296,674) (591,676) (221,203)
Net increase (decrease) in cash and cash equivalents 71,972 5,962 (10,217)
Cash and cash equivalents at January 1 19,604 [1] 13,642 23,859
Cash and cash equivalents at December 31 91,576 [1] 19,604 [1] 13,642
Interest paid during the period (net of amount capitalized of $2,403, $3,125 and $2,329, respectively) 106,918 117,085 137,758
Income taxes paid during the period $ 1,860 $ 1,548 $ 1,578
[1] * Consolidated variable interest entities' assets held as collateral and debt included in the above balances (see Note 22):