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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flow from operating activities:    
Net income $ 440,348 $ 187,810
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 154,724 129,296
Impairment charges 21,931 99,952
Equity award expense 12,154 11,216
Gain on sale of operating properties (58,731) $ (30,907)
Gain on sale of marketable securities (32,435)  
Gains on change in control of interests (139,801) $ (98,286)
Equity in income of joint ventures, net (119,914) (69,342)
Equity in income from other real estate investments, net (19,917) (10,367)
Distributions from joint ventures and other real estate investments 119,526 125,694
Change in accounts and notes receivable (5,383) 2,178
Change in accounts payable and accrued expenses (381) (1,294)
Change in other operating assets and liabilities (32,676) (19,853)
Net cash flow provided by operating activities 339,445 326,097
Cash flow from investing activities:    
Acquisition of operating real estate and other related net assets (586,321) (362,160)
Improvements to operating real estate (72,642) (52,875)
Improvements to real estate under development (4,362) (107)
Investment in marketable securities (257) (4,556)
Proceeds from sale of marketable securities 59,318 219
Investments and advances to real estate joint ventures (57,148) (46,644)
Reimbursements of investments and advances to real estate joint ventures 62,269 113,757
Investment in other real estate investments (458) (1,372)
Reimbursements of investments and advances to other real estate investments 22,887 12,907
Collection of mortgage loans receivable 50,729 $ 7,115
Investment in other investments (190,278)  
Proceeds from sale of operating properties 183,332 $ 161,737
Net cash flow used for investing activities (532,931) (171,979)
Cash flow from financing activities:    
Principal payments on debt, excluding normal amortization of rental property debt (308,728) (233,800)
Principal payments on rental property debt (14,628) (11,060)
Proceeds under unsecured revolving credit facility, net 125,000 143,060
Proceeds from issuance of unsecured term loan/notes 1,000,000 500,000
Repayments under unsecured term loan/notes (500,000) (294,570)
Financing origination costs (8,903) (11,911)
Contributions from noncontrolling interests 106,154  
Redemption/distribution of noncontrolling interests (33,348) (1,059)
Dividends paid (227,023) (213,699)
Proceeds from issuance of stock 13,472 12,336
Net cash flow provided by/(used for) financing activities 151,996 (110,703)
Change in cash and cash equivalents (41,490) 43,415
Cash and cash equivalents, beginning of period 187,322 148,768
Cash and cash equivalents, end of period 145,832 192,183
Interest paid during the period (net of capitalized interest of $2,424 and $737, respectively) 112,582 102,478
Income taxes paid during the period $ 10,829 $ 10,465