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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 100,356 $ 142,099
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 46,744 45,022
Amortization of financing costs 2,025 2,577
Gain on disposition of properties (81,965) (89,063)
Impairment of asset 0 5,000
Stock compensation expense 9,729 5,669
Equity in earnings of unconsolidated affiliates (3,592) (12,194)
Gain on disposition of property of unconsolidated affiliates 0 (24,043)
Distributions of operating income from unconsolidated affiliates 4,917 11,747
Other, net (5,577) (5,103)
Changes in assets and liabilities    
Cash in escrow 1,733 (6,757)
Rents receivable, net (4,858) (2,454)
Prepaid expenses and other assets (11,642) 1,901
Accounts payable and accrued expenses (1,511) 7,738
Other liabilities 134 3,203
Net cash provided by operating activities 56,493 85,342
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of real estate (292,136) (292,671)
Deposits for properties under contract (8,576) 0
Redevelopment and property improvement costs (94,459) (159,360)
Deferred leasing costs (5,451) (5,931)
Investments in and advances to unconsolidated affiliates (68,153) (10,581)
Return of capital from unconsolidated affiliates 50,622 9,574
Proceeds from disposition of property of unconsolidated affiliates 0 38,392
Change in control of previously consolidated investment (2,578) 0
Proceeds from notes receivable 42,819 15,984
Issuance of notes receivable (148,203) (48,350)
Proceeds from sale of properties, net 150,379 198,434
Net cash used in investing activities (375,736) (254,509)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgage and other notes (292,815) (92,468)
Principal payments on unsecured debt (516,790) (174,815)
Proceeds received from mortgage and other notes 70,437 85,859
Proceeds received from unsecured debt 616,315 253,200
Loan proceeds held as restricted cash 8,462 43,315
Deferred financing and other costs (5,288) (3,155)
Capital contributions from noncontrolling interests 204,412 34,895
Distributions to noncontrolling interests (74,612) (79,575)
Dividends paid to Common Shareholders (71,674) (69,788)
Proceeds from issuance of Common Shares, net of issuance costs of $7,317 and $655, respectively 357,262 26,933
Net cash provided by financing activities 295,709 24,401
Decrease in cash and cash equivalents (23,534) (144,766)
Cash and cash equivalents, beginning of period 72,776 217,580
Cash and cash equivalents, end of period 49,242 72,814
Supplemental disclosure of cash flow information    
Cash paid during the period for interest, net of capitalized interest of $14,936 and $11,847, respectively 28,116 34,146
Cash paid for income taxes 1,267 2,543
Supplemental disclosure of non-cash investing activities    
Acquisition of real estate through assumption of debt 60,668 90,765
Acquisition of capital lease obligation 76,461 0
Acquisition of real estate through issuance of OP Units 29,336 0
Acquisition of real estate through conversion of notes receivable 0 6,886
Acquisition of real estate through assumption of restricted cash 0 28,192
Disposition of air rights through issuance of notes receivable 0 (29,793)
Assumption of accounts payable and accrued expenses through acquisition of real estate 1,809 0
Assumption of prepaid expenses and other assets through acquisition of real estate 1,074 0
Change in control of previously consolidated investment    
Real estate, net 90,559 0
Investment in unconsolidated affiliates (21,421) 0
Other assets and liabilities 3,997 0
Noncontrolling interest (75,713) 0
Change in control of previously consolidated investment $ (2,578) $ 0