XML 20 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flow from operating activities:    
Net income (loss) $ 45,873 $ (242,914)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:    
Depreciation and amortization 96,902 103,015
Stock-based compensation 1,633 2,177
Amortization and write-off of deferred finance charges and fair market value of debt adjustments 661 (1,052)
Accretion of convertible debt discount 0 2,940
Equity in net income of joint ventures (14,421) (61)
Net gain on change in control of interests 0 (14,279)
Operating cash distributions from joint ventures 1,724 2,003
Gain on disposition of real estate (12,381) (25,094)
Impairment charges 0 279,021
Change in notes receivable accrued interest (3,437) (2,347)
Change in restricted cash 95 2,102
Net change in accounts receivable 2,659 (4,584)
Net change in accounts payable and accrued expenses (24,877) (14,680)
Net change in other operating assets and liabilities (12,538) (23,546)
Total adjustments 36,020 305,615
Net cash flow provided by operating activities 81,893 62,701
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (59,886) 0
Real estate developed and improvements to operating real estate (46,946) (59,281)
Proceeds from disposition of real estate and joint venture interests 186,736 102,909
Distributions from unconsolidated joint ventures 17,056 3,496
Repayment of notes receivable 126 9,155
Change in restricted cash (506) 1,320
Net cash flow provided by investing activities 96,580 57,599
Cash flow from financing activities:    
Proceeds from (repayments of) revolving credit facilities, net 140,000 (21,494)
Proceeds from issuance of senior notes, net of underwriting commissions and offering expenses 0 491,972
Repayment of senior notes (240,000) 0
Repayment of term loans and mortgage debt (7,979) (492,076)
(Repurchase) issuance of common shares in conjunction with equity award plans and dividend reinvestment plan (232) 2,734
Distributions to non-controlling interests and redeemable operating partnership units (321) (5,070)
Dividends paid (68,639) (61,468)
Net cash flow used for financing activities (177,171) (85,402)
Cash and cash equivalents:    
Increase in cash and cash equivalents 1,302 34,898
Effect of exchange rate changes on cash and cash equivalents 2 158
Cash and cash equivalents, beginning of year 22,416 20,937
Cash and cash equivalents, end of period $ 23,720 $ 55,993