XML 38 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flow from operating activities:    
Net income $ 521,432 $ 385,119
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 258,432 199,914
Impairment charges 27,989 107,034
Equity award expense 15,312 14,465
Gain on sale of operating properties (88,497) (130,052)
Gain on sale of marketable securities (38,488)  
Gains on change in control of interests (146,143) (83,773)
Equity in income of joint ventures, net (130,808) (150,073)
Equity in income from other real estate investments, net (31,236) (16,404)
Distributions from joint ventures and other real estate investments 149,141 186,629
Change in accounts and notes receivable (372) 3,168
Change in accounts payable and accrued expenses 38,703 35,289
Change in other operating assets and liabilities (58,181) (41,311)
Net cash flow provided by operating activities 517,284 510,005
Cash flow from investing activities:    
Acquisition of operating real estate and other related net assets (619,622) (382,128)
Improvements to operating real estate (111,740) (93,733)
Acquisition of real estate under development (3,074)  
Improvements to real estate under development (8,922) (154)
Investment in marketable securities (257) (4,556)
Proceeds from sale of marketable securities 71,562 3,780
Investments and advances to real estate joint ventures (87,953) (59,602)
Reimbursements of investments and advances to real estate joint ventures 98,741 144,359
Investment in other real estate investments (545) (3,851)
Reimbursements of investments and advances to other real estate investments 40,556 12,981
Collection of mortgage loans receivable 52,963 7,707
Investment in other investments (190,278)  
Proceeds from sale of operating properties 238,444 303,104
Net cash flow used for investing activities (520,125) (72,093)
Cash flow from financing activities:    
Principal payments on debt, excluding normal amortization of rental property debt (444,150) (298,264)
Principal payments on rental property debt (22,452) (17,098)
Proceeds from mortgage loan financings   15,700
Proceeds under unsecured revolving credit facility, net 325,000 55,646
Proceeds from issuance of unsecured term loan/notes 1,000,000 500,000
Repayments under unsecured term loan/notes (600,000) (370,842)
Financing origination costs (9,132) (11,911)
Contributions from noncontrolling interests 106,154 1,133
Redemption/distribution of noncontrolling interests (33,810) (2,192)
Dividends paid (340,745) (320,749)
Proceeds from issuance of stock 15,567 16,087
Net cash flow provided by/(used for) financing activities (3,568) (432,490)
Change in cash and cash equivalents (6,409) 5,422
Cash and cash equivalents, beginning of period 187,322 148,768
Cash and cash equivalents, end of period 180,913 154,190
Interest paid during the period (net of capitalized interest of $3,784 and $1,288, respectively) 150,625 135,706
Income taxes paid during the period $ 5,985 $ 12,944