XML 48 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
OPERATING ACTIVITIES      
Net income (loss) $ (184) $ 8,247 $ 51,148
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation and amortization 92,388 77,894 70,921
Stock-based compensation 2,922 2,411 3,711
Straight-line rent receivable (4,630) (2,472) (1,925)
Straight-line rent liability 488 92 444
Gain on sales of real estate properties (7,035) (8,352) (20,136)
Loss on extinguishment of debt 1,986 480  
Re-measurement gain of equity interest upon acquisition     (2,701)
Impairments 6,697 1,259 22
Provision for bad debt, net (160) (409) 517
Payment of partial pension settlement   (2,582) (2,300)
Changes in operating assets and liabilities      
Other assets (7,993) (9,137) (1,015)
Accounts payable and accrued liabilities 10,770 5,834 4,453
Other liabilities 9,783 1,318 75
Net cash provided by operating activities 105,032 80,835 103,214
INVESTING ACTIVITIES      
Acquisition and development of real estate properties (230,106) (369,034) (170,520)
Funding of mortgages and notes receivable (101,931) (25,109) (23,391)
Investments in unconsolidated joint venture     (184)
Proceeds from sales of real estate 19,572 34,512 83,441
Proceeds from mortgages and notes receivable repayments 17,797 9,201 12,893
Net cash used in investing activities (294,668) (350,430) (97,761)
FINANCING ACTIVITIES      
Net borrowings (repayments) on unsecured credit facility 212,000 (50,000) (279,000)
Borrowings on notes and bonds payable   396,800 377,969
Repayments on notes and bonds payable (3,703) (2,516) (28,433)
Repurchase of notes payable (280,201) (8,556)  
Dividends paid (89,270) (75,821) (91,385)
Proceeds from issuance of common stock 251,916 118,205 26,464
Common stock redemptions (86)   (8)
Capital contributions received from noncontrolling interests   633 2,228
Distributions to noncontrolling interest holders (284) (481) (282)
Purchase of noncontrolling interests (1,591)    
Debt issuance and assumption costs (7,728) (1,199) (11,293)
Net cash provided by (used in) financing activities 81,053 377,065 (3,740)
Increase (decrease) in cash and cash equivalents (108,583) 107,470 1,713
Cash and cash equivalents, beginning of period 113,321 5,851 4,138
Cash and cash equivalents, end of period 4,738 113,321 5,851
Supplemental Cash Flow Information:      
Interest paid 73,157 62,274 50,052
Capitalized interest 8,531 10,315 10,087
Company-financed real estate property sales 2,700    
Invoices accrued for construction, tenant improvement and other capitalized costs 12,131 13,555 16,266
Mortgage notes payable assumed upon acquisition (adjusted to fair value) 54,392 24,268 11,716
Mortgage note payable disposed of upon sale of joint venture interest     5,425
Foreclosure of mortgage notes receivable 4,371    
Elimination of mortgage note upon consolidation of variable interest entities $ 21,939