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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flow from operating activities:    
Net income $ 104,621 $ 12,015
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including discontinued operations) 32,180 28,918
Gain on disposition of properties (100,870) (8,796)
Amortization of deferred financing costs and other 549 656
Share-based compensation expense 2,170 2,406
Net change in assets and liabilities:    
Accounts receivable 16 (1,088)
Accounts payable and accrued expenses (4,180) (861)
Other operating assets and liabilities 667 4,292
Total adjustments (69,468) 25,527
Net cash flow provided by operating activities 35,153 37,542
Cash flow from investing activities:    
Recurring fixed asset additions (4,203) (4,564)
Revenue enhancing/non-recurring fixed asset additions (696) (392)
Acquisition fixed asset additions (46,385) (731)
Development fixed asset additions (27,609) (59,237)
Net proceeds from disposition of operating properties 168,756 61,970
Contributions to joint venture (5,636) (1,598)
Deposits on potential future acquisitions 3,193 0
Cash proceeds from sale of equity interest in development property 24,075 0
Escrow deposits related to property sales (72,292) 0
Escrow deposit disbursements related to property acquisition 52,414 0
Costs paid on behalf of joint venture (5,639) 0
Reimbursements of costs paid on behalf of joint venture 4,420 0
Other investing activity (589) (1,985)
Net cash flow provided by (used for) investing activities 89,809 (6,537)
Cash flow from financing activities:    
Principal amortization payments on mortgage notes payable (1,041) (1,593)
Principal repayments of mortgage notes payable (20,038) 0
Payment of debt procurement costs (130) (2,453)
Proceeds from secured construction loans 20,782 0
Proceeds from issuance of unsecured notes 0 150,000
Revolving credit facility borrowings 117,000 115,700
Revolving credit facility repayments (214,500) (272,700)
Common share dividends paid (22,579) (18,747)
Operating partnership distributions paid 0 (28)
Exercise of stock options 714 1,550
Issuance of common shares 0 1,870
Purchase of treasury shares (999) (697)
Purchase of noncontrolling interest in partnership 0 (4,544)
Other financing activities, net 127 116
Net cash flow used for financing activities (120,664) (31,526)
Increase in cash and cash equivalents 4,298 (521)
Cash and cash equivalents, beginning of period 4,586 4,740
Cash and cash equivalents, end of period 8,884 4,219
Supplemental disclosure of non-cash transactions:    
Dividends declared but not paid 11,495 10,489
Net change in accounts payable related to fixed asset additions 5,028 5,105
Net change in accounts payable and security deposits related to the disposition of operating properties (486) (322)
Deconsolidation of net assets $ 26,238 $ 0