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Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash Flows From Operating Activities:    
Consolidated net income $ 97,189,000 $ 45,444,000
Adjustments to reconcile consolidated net income to net cash provided by operating activities:    
Gain on sale of property, net of tax (41,544,000) 0
Extinguishment of Debt, Amount 37,911,000 0
Depreciation expense 83,872,000 79,984,000
Amortization of in-place leases 803,000 44,314,000
Amortization of loan costs 4,039,000 4,342,000
Debt premium amortization (5,597,000) (5,274,000)
Equity in income of unconsolidated joint ventures (1,624,000) (2,394,000)
Distributions from unconsolidated joint ventures 1,251,000 1,399,000
Amortization of stock-related compensation 4,332,000 4,465,000
Revenue recognized from right-to-use contract upfront payments (5,453,000) (5,000,000)
Commission expense recognized related to right-to-use contracts 1,933,000 1,701,000
Accrued long term incentive plan compensation 1,431,000 642,000
Provision for uncollectible rents receivable 380,000 471,000
Changes in assets and liabilities:    
Notes receivable activity, net 48,000 346,000
Deferred commission expense (3,757,000) (3,875,000)
Escrow deposits and other assets (1,299,000) 2,150,000
Accrued payroll and other operating expenses, net 14,759,000 12,941,000
Deferred revenue - upfront payments from right-to-use contracts 9,899,000 9,680,000
Deferred revenue - right-to-use annual payments 367,000 223,000
Rents received in advance and security deposits (1,204,000) (2,675,000)
Net cash provided by operating activities 197,736,000 188,884,000
Cash Flows From Investing Activities:    
Real estate acquisition (116,359,000) 0
Proceeds from Sale of Real Estate 157,975,000 0
Payments for (Proceeds from) Delayed Tax Exempt Exchange (13,755,000) 0
Payments to Acquire Interest in Joint Venture (1,149,000) 0
Proceeds from Collection of Notes Receivable 9,270,000 8,451,000
Issuance of Notes Receivable (7,792,000) (4,121,000)
Capital improvements (48,571,000) (53,164,000)
Net cash used in investing activities (20,381,000) (48,834,000)
Cash Flows From Financing Activities:    
Net proceeds from stock options and employee stock purchase plan 774,000 3,682,000
Payments of Ordinary Dividends, Common Stock (39,792,000) (51,538,000)
Payments of Ordinary Dividends, Noncontrolling Interest (5,648,000) (5,014,000)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (6,951,000) (11,462,000)
Stock repurchase and Unit redemption 0 (43,000)
Repayments of Lines of Credit (20,000,000) 0
Proceeds from Lines of Credit 20,000,000 0
Principal payments and mortgage debt payoff (415,977,000) (154,706,000)
New mortgage notes payable financing proceeds 347,060,000 159,500,000
Debt issuance costs (41,919,000) (2,960,000)
Equity issuance costs (502,000) (100,000)
Net cash (used in) provided by financing activities (162,955,000) (62,641,000)
Cash, Period Increase (Decrease) 14,400,000 77,409,000
Cash 51,526,000 147,869,000
Supplemental Information:    
Cash paid during the period for interest 85,248,000 88,922,000
Non-cash activities (increase/(decrease)):    
Capital improvements - used homes acquired by repossessions 1,724,000 3,506,000
Net repayments of notes receivable - used homes acquired by repossessions 1,724,000 3,506,000
Building and other depreciable property - reclassification of rental homes 10,011,000 3,608,000
Escrow deposits and other assets - reclassification of rental homes (10,011,000) (3,608,000)
ExchangeOfStockAmountExchanged1 0 (136,144)
ExchangeOfStockAmountIssued1 0 136,144
Noncash or Part Noncash Acquisition, Fixed Assets Acquired (126,186,000) (6,262,000)
Noncash or Part Noncash Acquisition, Other Assets Acquired (811,000) 6,774,000
Noncash or Part Noncash Acquisition, Payables Assumed 446,000 0
Noncash or Part Noncash Acquisition, Other Liabilities Assumed 506,000 0
Noncash, Issuance of Common OP Units 9,686,000 0
Transfer from Other Real Estate 113,050,000 0
Transfer of Loans Receivable 6,507,000 0
Transfer Deferred Finance Costs 71,000 0
Transfer of Other Assets 378,000 0
Transfer of Payables (664,000) 0
Transfer of Interest Payable (46,000) 0
Transfer of Other Liabilities $ (1,905,000) $ 0