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Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2016
USD ($)
Sep. 30, 2015
USD ($)
Cash Flows from Operating Activities:    
Net income $ 277,378 $ 575,886
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 446,040 420,494
Real estate impairment losses 161,165 256
Net gain on disposition of wholly owned and partially owned assets (160,225) (104,897)
Straight-lining of rental income (118,798) (108,529)
Return of capital from real estate fund investments 71,888 91,036
Distributions of income from partially owned entities 58,692 51,650
Amortization of below-market leases, net (41,676) (45,918)
Other non-cash adjustments 33,971 35,190
Net realized and unrealized gains on real estate fund investments (16,513) (38,781)
Net gains on sale of real estate and other (5,074) (65,396)
Equity in net (income) loss of partially owned entities (529) 7,961
Reversal of allowance for deferred tax assets 0 (90,030)
Changes in operating assets and liabilities:    
Real estate fund investments 0 (95,010)
Tenant and other receivables, net (578) 1,892
Prepaid assets (71,068) (77,899)
Other assets (50,938) (92,413)
Accounts payable and accrued expenses 6,530 (5,799)
Other liabilities (16,018) (16,168)
Net cash provided by operating activities 574,247 443,525
Cash Flows from Investing Activities:    
Development costs and construction in progress (426,641) (339,586)
Additions to real estate (261,971) (207,845)
Proceeds from sales of real estate and related investments 138,034 375,850
Investments in partially owned entities (112,797) (144,890)
Distributions of capital from partially owned entities 100,997 31,822
Acquisitions of real estate and other (46,801) (388,565)
Net deconsolidation of 7 West 34th Street (42,000) 0
Restricted cash (24,796) 201,895
Investments in loans receivable and other (11,700) (25,845)
Purchases of marketable securities (4,379) 0
Proceeds from sales and repayments of mortgage and mezzanine loans receivable and other 33 16,781
Net cash used in investing activities (692,021) (480,383)
Cash Flows from Financing Activities:    
Proceeds from borrowings 2,000,604 2,876,460
Repayments of borrowings (1,591,554) (2,539,677)
Dividends paid on common shares (356,863) (355,945)
Redemption of preferred shares (246,250) 0
Distributions to noncontrolling interests (95,055) (93,738)
Dividends paid on preferred shares (64,006) (60,213)
Debt issuance and other costs (30,846) (37,467)
Contributions from noncontrolling interests 11,900 51,725
Proceeds received from exercise of employee share options 7,020 15,273
Repurchase of shares related to stock compensation agreements and related tax withholdings and other (186) (4,900)
Cash included in the spin-off of Urban Edge Properties 0 (225,000)
Net cash used in financing activities (365,236) (373,482)
Net decrease in cash and cash equivalents (483,010) (410,340)
Cash and cash equivalents at beginning of period 1,835,707 1,198,477
Cash and cash equivalents at end of period 1,352,697 788,137
Supplemental Disclosure Of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $21,297 and $40,924 275,979 256,254
Cash payments for income taxes 7,602 7,640
Non-Cash Investing and Financing Activities:    
Write-off of fully depreciated assets (283,496) (127,788)
Accrued capital expenditures included in accounts payable and accrued expenses 129,704 95,535
Change in unrealized net gain on securities available-for-sale 42,798 (53,396)
Adjustments to carry redeemable Class A units at redemption value (30,260) 295,713
Decrease in assets and liabilities resulting from the deconsolidation of investments that were previously consolidated    
Real estate, net (122,047) 0
Mortgages payable, net (290,418) 0
Non-cash distribution of Urban Edge Properties:    
Assets 0 1,722,263
Liabilities 0 (1,482,660)
Equity 0 (239,603)
Transfer of interest in real estate to Pennsylvania Real Estate Investment Trust 0 (145,313)
Class A units in connection with acquisition   80,000
Financing assumed in acquisitions   62,000
Acquisitions    
Non-cash distribution of Urban Edge Properties:    
Like-kind exchange of real estate 46,698 80,269
Dispositions    
Non-cash distribution of Urban Edge Properties:    
Like-kind exchange of real estate $ (29,639) $ (213,621)