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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash $ 58,427 $ 37,126 $ 70,460
Cash Flows From Operating Activities:      
Consolidated net income 125,905 74,459 42,504
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on sale of discontinued real estate and other (41,525) (4,596) 0
Extinguishment of Debt, Amount 37,844 0 0
Depreciation expense 110,505 105,578 85,235
Amortization of in-place leases (1,940) (45,122) (28,479)
Amortization loan cost 5,304 5,754 5,305
Debt premium amortization (6,842) (6,764) (1,817)
Equity in income of unconsolidated joint ventures (2,039) (1,899) (1,948)
Distributions from unconsolidated joint ventures 1,311 1,839 1,841
Amortization of stock-related compensation 5,952 5,797 5,762
Revenue recognized from right-to-use contract upfront payment (7,448) (6,739) (5,920)
Commission expense recognized related to right-to-use contracts 2,601 2,310 1,946
Accrued long term incentive plan compensation 1,907 782 1,813
Increase in provision for uncollectible rents receivable 230 3,243 3,569
Changes in assets and liabilities:      
Notes receivable activity, net (123) 409 477
Deferred commission expense (5,011) (5,465) (6,735)
Escrow deposits and other assets 7,454 5,979 (10,393)
Accrued payroll and other operating expenses 83 (3,041) 6,736
Deferred revenue-upfront payments from right-to-use contracts 13,142 13,433 17,856
Deferred revenue-right-to-use annual payments 48 (789) (765)
Rents received in advance and security deposits 4,111 1,033 1,696
Net cash provided by operating activities 255,349 236,445 175,641
Cash Flows From Investing Activities:      
Acquisition of real estate and other (117,707) (24,213) (651,089)
Acquisition of notes receivable 0 0 (40,362)
Proceeds from disposition of rental properties and other 157,975 7,564 252
Net tax-deferred exchange withdrawal (deposit) (11,976) 0 0
Payments to Acquire Interest in Joint Venture (2,641) 0 0
Proceeds from (purchase of) short-term investments 0 0 52,266
Net (borrowings) repayments of notes receivable (11,552) (11,071) (5,004)
Issuance of notes receivable (10,343) (5,727) (5,887)
Capital improvements (64,714) (75,260) (62,032)
Net cash used in investing activities (37,854) (86,565) (701,848)
Cash Flows From Financing Activities:      
Net proceeds from stock options and employee stock purchase plan 968 4,932 5,484
Net proceeds from issuance of Common Stock 0 0 344,049
Payments of Ordinary Dividends, Common Stock (62,547) (89,489) (49,483)
Payments of Ordinary Dividends, Noncontrolling Interest (5,647) (6,696) (6,313)
Stock repurchase and Unit redemption (1,121) (1,287) (1,682)
Distributions to Preferred Unit Holders 0 0 (2,801)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (9,280) (14,613) (13,823)
Lines of credit:      
Proceeds 20,000 0 50,000
Repayments (20,000) 0 (50,000)
Principal payments and mortgage debt payoff (450,492) (167,552) (75,658)
New mortgage notes payable financing proceeds 375,500 159,500 200,000
Term loan financing proceeds 0 0 200,000
Debt issuance costs (43,031) (3,062) (15,765)
Net cash provided by (used in) financing activities (196,194) (183,214) 584,008
Proceeds from Noncontrolling Interests 0 170 0
Payments for Repurchase of Preferred Stock and Preference Stock 0 (63,856) 0
Net increase (decrease) in cash and cash equivalents 21,301 (33,334) 57,801
Supplemental Information:      
Cash paid during the period for interest 120,497 125,121 96,261
Non-cash activities (increase (decrease)):      
Capital improvements 2,591 5,313 2,685
Net repayments of notes receivable (2,591) (5,313) (2,685)
Series A Cumulative Redeemable Perpetual Preferred Stock 0 0 200,000
Perpetual Preferred OP Units conversion 0 0 (200,000)
Acquisitions      
Escrow deposits and other assets (1,100) (6,774) 0
Accrued payroll and other operating expenses 712 376 2,643
Accrued interest payable 0 0 114
Noncash or Part Noncash Acquisition, Accounts Receivable Acquired 0 29 0
Rents and other customer payments received in advance and security deposits 1,017 440 4,800
Noncash or Part Noncash Acquisition, Fixed Assets Acquired 133,344 18,738 1,431,339
Debt assumed and financed on acquisition 5,382 0 548,410
Noncash or Part Noncash Acquisition, Deferred Finance Costs (59) 0 0
Noncash, Issuance of Common OP Units 9,686 0 0
Dispositions      
Other assets and liabilities, net (2,166) 0 252
Transfer of Loans Receivable 6,507 0 0
Investment in real estate 153,636 (2,968) 0
Equity issuance costs (544) (1,261) 0
Building and other depreciable property – reclassification of rental homes 14,401 4,127 2,371
Escrow deposits and other assets – reclassification of rental homes (14,401) (4,127) (2,371)
Series A Cumulative Redeemable Perpetual Preferred Stock Exchange 0 (136,144) 0
Series C Cumulative Redeemable Perpetual Preferred Stock Exchange 0 136,144 0
Common Stock issued 0 0 110,495
Series B Subordinated Non-Voting Cumulative Redeemable Preferred Stock Issued 0 0 113,788
Fair Value of Assets Acquired 0 0 830
Notes Issued $ 0 $ 0 $ 830