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Consolidated Statements of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities:  
Net income$ 643,013$ 425,887
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization (including amortization of deferred financing costs)414,992419,638
Equity in income of partially owned entities including Toys R Us(137,033)(116,109)
Net (gain) loss on early extinguishment of debt(83,907)1,796
Mezzanine loans loss (reversal) and net gain on disposition(82,744)6,900
Distributions of income from partially owned entities75,61236,829
Net gain on sale of real estate(51,623)0
Amortization of below-market leases, net(49,988)(49,144)
Straight-lining of rental income(38,262)(55,581)
Income from the mark-to-market of J.C. Penney derivative position27,136(32,249)
Other non-cash adjustments20,26136,058
Unrealized gain on Real Estate Fund assets(19,209)0
Net gain on disposition of wholly owned and partially owned assets(7,975)(12,759)
Litigation loss accrual and impairment losses015,197
Changes in operating assets and liabilities:  
Real Estate Fund Investments(97,785)(62,500)
Accounts receivable, net11,292(6,468)
Prepaid assets(68,558)(45,104)
Other assets(43,413)(59,614)
Accounts payable and accrued expenses32,22778,153
Other liabilities22,63513,791
Net cash provided by operating activities566,671594,721
Cash Flows from Investing Activities:  
Investments in partially owned entities(440,865)(159,053)
Distributions of capital from partially owned entities274,28345,613
Proceeds from sales of real estate and related investments135,76248,998
Restricted cash121,463125,204
Additions to real estate(109,963)(98,789)
Proceeds from sales and repayments of mezzanine loans100,525109,594
Development costs and construction in progress(52,816)(86,871)
Investments in mezzanine loans receivable and other(44,215)(75,697)
Fund derivative collateral(33,850)0
Return of derivative collateral28,7000
Proceeds from sales of marketable securities19,301126,015
Proceeds from maturing short-term investments040,000
Acquisitions of real estate and other0(10,000)
Proceeds from sales of, and return of investment in, marketable securities0(13,917)
Net cash provided by investing activities(1,675)51,097
Cash Flows from Financing Activities:  
Repayments of borrowings(2,666,610)(1,462,652)
Proceeds from borrowings2,184,1671,603,359
Dividends paid on common shares(381,382)(354,937)
Proceeds from the issuance of Series J preferred shares239,0370
Contributions from noncontrolling interests109,60539,351
Distributions to noncontrolling interests(77,330)(41,055)
Dividends paid on preferred shares(43,675)(42,100)
Debt issuance and other costs(28,614)(14,942)
Purchase of outstanding preferred units and shares(28,000)(48,600)
Proceeds received from exercise of employee share options22,94712,192
Repurchase of shares related to stock compensation agreements and related tax withholdings(747)(25,659)
Net cash used in financing activities(670,602)(335,043)
Net (decrease) increase in cash and cash equivalents(105,606)310,775
Cash and cash equivalents at beginning of period690,789535,479
Cash and cash equivalents at end of period585,183846,254
Supplemental Disclosure of Cash Flow Information:  
Cash payments for interest (including capitalized interest of $0 and $875)388,938409,953
Cash payments for income taxes10,2995,348
Non-Cash Investing and Financing Activities:  
Change in unrealized net (loss) gain on securities available-for-sale(120,334)34,497
Adjustment to carry redeemable Class A units at redemption value114,628(232,099)
Common shares issued upon redemption of Class A units, at redemption value38,22062,606
Contribution During Period Of Mezzanine Loans To Joint Ventures73,7500
Exchange of real estate(45,625)0
Extinguishment of a liability in connection with the acquisition of real estate020,500
Investment in J.C. Penney, Inc.0271,372
Decrease in assets and liabilities resulting from deconsolidation of discontinued operations:  
Assets related to discontinued operations(145,333)0
Liabilities related to discontinued operations(232,502)0
Write-off of fully depreciated assets(58,279)(50,785)
Toys R Us [Member]
  
Adjustments to reconcile net income to net cash provided by operating activities:  
Equity in income of partially owned entities including Toys R Us(80,794)(102,309)
All Equity Method Investees Excluding Toys [Member]
  
Adjustments to reconcile net income to net cash provided by operating activities:  
Equity in income of partially owned entities including Toys R Us$ (56,239)$ (13,800)