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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flow from operating activities:    
Net income (loss) $ 87,241 $ (223,867)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:    
Depreciation and amortization 194,600 202,315
Stock-based compensation 4,051 4,893
Amortization and write-off of deferred finance charges and fair market value of debt adjustments 1,151 (5,529)
Accretion of convertible debt discount 0 5,919
Equity in net income of joint ventures (15,538) (1,703)
Net gain on sale and change in control of interests 0 (7,772)
Operating cash distributions from joint ventures 3,779 4,021
Gain on disposition of real estate (26,102) (36,361)
Impairment charges 0 279,021
Change in notes receivable accrued interest (5,502) (4,175)
Change in restricted cash 1,901 1,591
Net change in accounts receivable 2,619 1,327
Net change in accounts payable and accrued expenses (4,357) 11,763
Net change in other operating assets and liabilities (11,127) (22,570)
Total adjustments 145,475 432,740
Net cash flow provided by operating activities 232,716 208,873
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (59,886) (105,846)
Real estate developed and improvements to operating real estate (91,116) (132,595)
Proceeds from disposition of real estate 243,220 158,122
Distributions from unconsolidated joint ventures 20,510 6,940
Equity contributions to joint ventures (1,406) (134)
Issuance of notes receivable (4,611) 0
Repayment of notes receivable 305 9,275
Change in restricted cash (905) 582
Net cash flow provided by (used for) investing activities 106,111 (63,656)
Cash flow from financing activities:    
Proceeds from revolving credit facilities, net 55,000 213,513
Proceeds from issuance of senior notes, net of underwriting commissions and offering expenses 0 491,972
Repayment of senior notes (240,000) (152,996)
Proceeds from unsecured term loan 0 300,000
Repayment of term loans and mortgage debt (15,750) (857,396)
Payment of debt issuance costs (41) (4,540)
Issuance of common shares in conjunction with equity award plans and dividend reinvestment plan 1,785 3,321
Distributions to non-controlling interests and redeemable operating partnership units (575) (5,591)
Dividends paid (143,684) (129,333)
Net cash flow used for financing activities (343,265) (141,050)
Cash and cash equivalents:    
(Decrease) increase in cash and cash equivalents (4,438) 4,167
Effect of exchange rate changes on cash and cash equivalents 3 164
Cash and cash equivalents, beginning of year 22,416 20,937
Cash and cash equivalents, end of period $ 17,981 $ 25,268