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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 34,693 $ 39,004
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 16,689 16,119
Amortization of financing costs 1,817 2,086
Gain from bargain purchase 0 (33,805)
Gain on sale of property (32,498) 0
Gain on debt extinguishment (1,571) 0
Impairment of asset 6,925 0
Non-cash accretion of notes receivable (504) (2,961)
Share compensation expense 2,304 2,141
Equity in losses (earnings) of unconsolidated affiliates 85 (467)
Other, net 2,303 2,107
Changes in assets and liabilities    
Cash in escrow (2,543) 484
Rents receivable, net (4,252) (1,441)
Prepaid expenses and other assets, net (1,223) (1,094)
Accounts payable and accrued expenses 1,077 (2,216)
Other liabilities (3,053) 280
Net cash provided by operating activities 20,249 20,237
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in real estate (91,918) (36,934)
Deferred acquisition and leasing costs (2,554) (1,802)
Investments in and advances to unconsolidated affiliates (41,572) (2,182)
Return of capital from unconsolidated affiliates 3,141 617
Repayments of notes receivable 47,932 2,011
Increase in notes receivable (3,834) 0
Proceeds from sale of property 43,791 0
Net cash used in investing activities (45,014) (38,290)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgage notes (24,260) (26,254)
Proceeds received on mortgage notes 51,223 29,035
Increase in deferred financing and other costs (1,268) (2,945)
Capital contributions from noncontrolling interests 43,646 19,476
Distributions to noncontrolling interests (1,123) (903)
Dividends paid to Common Shareholders (14,513) (14,419)
Repurchase and cancellation of Common Shares (725) (966)
Common Shares issued under Employee Share Purchase Plan 45 50
Exercise of options to purchase Common Shares 7 101
Net cash provided by financing activities 53,032 3,175
Increase (decrease) in cash and cash equivalents 28,267 (14,878)
Cash and cash equivalents, beginning of period 120,592 93,808
Cash and cash equivalents, end of period 148,859 78,930
Supplemental disclosure of cash flow information    
Cash paid during the period for interest, net of capitalized interest of $2,464 and $876, respectively 16,683 15,597
Cash paid for income taxes 3,701 1,095
Acquisition of interest in unconsolidated affiliate:    
Real estate, net 0 (108,000)
Assumption of mortgage debt 0 25,990
Gain on bargain purchase 0 33,805
Other assets and liabilities 0 7,532
Investment in unconsolidated affiliates 0 37,824
Cash included in investment in real estate $ 0 $ (2,849)