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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flow from operating activities:      
Net income $ 386,138 $ 900,143 $ 435,880
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 355,320 344,527 273,093
Impairment charges 93,266 45,464 217,858
Deferred taxes 55,068 4,498 15,128
Early extinguishment of debt charges 45,674
Equity award expense 19,071 18,465 17,879
Gain on sale of operating properties (92,823) (132,907) (203,889)
Gain on sale of marketable securities (39,852)
Gain on change in control of interests, net (57,386) (149,234) (107,235)
Equity in income of joint ventures, net (218,714) (480,395) (159,560)
Equity in income from other real estate investments, net (27,773) (36,090) (38,042)
Distributions from joint ventures and other real estate investments 90,589 126,263 255,532
Change in accounts and notes receivable (6,571) (2,867) (8,060)
Change in accounts payable and accrued expenses (7,886) 164 (1,095)
Change in Canadian withholding tax receivable 23,571 (37,040)
Change in other operating assets and liabilities (65,448) (67,438) (68,146)
Net cash flow provided by operating activities 592,096 493,701 629,343
Cash flow from investing activities:      
Acquisition of operating real estate and other related net assets (203,190) (661,423) (384,828)
Improvements to operating real estate (143,489) (166,670) (131,795)
Acquisition of real estate under development (51,588) (16,355) (65,724)
Improvements to real estate under development (72,759) (16,861) (418)
Investment in marketable securities (2,466) (257) (11,445)
Proceeds from sale/repayments of marketable securities 1,937 76,170 3,780
Investments and advances to real estate joint ventures (86,453) (91,609) (93,845)
Reimbursements of investments and advances to real estate joint ventures 71,656 94,053 222,590
Distributions from liquidation of real estate joint ventures 138,475 373,833
Return of investment from liquidation of real estate joint ventures 191,902 88,672
Investment in other real estate investments (233) (641) (4,338)
Reimbursements of investments and advances to other real estate investments 11,019 40,556 16,312
Investment in mortgage loans receivable (50,000)
Collection of mortgage loans receivable 921 55,145 8,302
Investment in other investments (190,278)
Reimbursements of other investments 500
Proceeds from sale of operating properties 304,600 437,030 612,748
Proceeds from sale of development properties 4,551 5,366
Net cash flow provided by investing activities 165,383 21,365 126,705
Cash flow from financing activities:      
Principal payments on debt, excluding normal amortization (700,853) (555,627) (327,963)
Principal payments on rental property debt (19,039) (28,632) (22,841)
Proceeds from mortgage loan financings 15,700
Proceeds/(repayments) under the unsecured revolving credit facility, net 26,445 (100,000) (94,354)
Proceeds from issuance of unsecured term loan/notes 1,400,000 1,500,030 500,000
Repayments under unsecured term loan/notes (1,261,850) (750,000) (370,842)
Financing origination costs (25,679) (19,017) (11,911)
Payment of early extinguishment of debt charges (45,674) 0 0
Change in tenants' security deposits 1,367 2,116
Contributions from noncontrolling interests 106,154 1,917
Conversion/distribution of noncontrolling interests (12,594) (55,753) (3,201)
Dividends paid (474,045) (455,833) (427,873)
Proceeds from issuance of stock 307,395 18,708 23,874
Redemption of preferred stock (175,000)
Net cash flow used for financing activities (804,527) (512,854) (717,494)
Change in cash and cash equivalents (47,048) 2,212 38,554
Cash and cash equivalents, beginning of year 189,534 187,322 148,768
Cash and cash equivalents, end of year 142,486 189,534 187,322
Interest paid during the year including payment of early extinguishment of debt charges of $45,674, $0 and $0, respectively (net of capitalized interest of $9,247, $5,618 and $2,383, respectively) 252,482 232,950 207,632
Income taxes paid during the year (net of refunds received of $113,934, $0 and $0, respectively) $ 6,090 $ 100,366 $ 23,292