XML 21 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
OPERATING ACTIVITIES    
Net income (loss) $ (1,018) $ 3,134
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization 25,868 24,732
Stock-based compensation 1,848 932
Straight-line rent receivable (1,680) (1,900)
Straight-line rent liability 102 90
Gain on sales of real estate properties 0 (3,428)
Impairments 3,630 4,170
Provision for bad debt, net of recoveries (12) (42)
Changes in operating assets and liabilities:    
Other assets (1,736) 1,290
Accounts payable and accrued liabilities (21,485) (20,628)
Other liabilities (2,384) 2,587
Net cash provided by operating activities 3,133 10,937
INVESTING ACTIVITIES    
Acquisition of real estate (16,967) (22,503)
Development of real estate 0 (4,400)
Tenant improvements and capital additions (8,001) (17,559)
Funding of mortgages (24,304) (12,642)
Proceeds from sales of real estate 1,112 6,624
Proceeds from mortgage repayment by previously consolidated VIE 0 35,057
Proceeds from mortgages and notes receivable repayments 39 4,725
Net cash used in investing activities (48,121) (10,698)
FINANCING ACTIVITIES    
Net borrowings (repayments) on unsecured credit facility (110,000) 26,000
Borrowings on notes and bonds payable 247,948 0
Repayments on notes and bonds payable (16,110) (1,213)
Dividends paid (26,746) (23,387)
Net proceeds from issuance of common stock 40,424 281
Common stock redemptions (156) (45)
Capital contributions received from noncontrolling interest holders 1,373 0
Distributions to noncontrolling interest holders (29) 0
Debt issuance and assumption costs (4,321) (3)
Net cash provided by financing activities 132,383 1,633
Increase in cash and cash equivalents 87,395 1,872
Cash and cash equivalents, beginning of period 6,776 4,738
Cash and cash equivalents, end of period 94,171 6,610
Supplemental Cash Flow Information:    
Interest paid 26,271 26,389
Capitalized interest 107 1,835
Company-financed real estate property sales 3,666 7,450
Invoices accrued for construction, tenant improvement and other capitalized costs 5,049 7,129
Construction liabilities transferred upon deconsolidation of VIE $ 0 $ 3,450