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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net income $ 68,388 $ 104,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 117,160 116,547
Amortization of deferred financing costs 2,168 2,629
Impairment - real estate assets 16,775 0
Equity in earnings of unconsolidated joint ventures (1,652) (5,705)
Distributions from unconsolidated joint ventures 4,441 0
Gain on property dispositions (3,520) (48,152)
Share-based compensation/Non-cash compensation 9,504 8,500
Other (6,750) (2,210)
Changes in operating assets and liabilities:    
Restricted cash 2,541 33,239
Accounts receivable 665 (1,307)
Deferred rent receivable (11,319) (7,548)
Prepaid expenses and other assets (16,540) (29,907)
Accounts payable (5,647) 9,100
Accrued interest 2,663 2,753
Other liabilities (5,780) (34,802)
Net cash provided by operating activities 173,097 147,350
INVESTING ACTIVITIES    
Investment in operating properties - acquisitions (36,714) (90,837)
Investment in operating properties - other (33,585) (39,073)
Investments in and advances to unconsolidated joint ventures (17,182) (12,008)
Distributions from unconsolidated joint ventures 7,979 5,429
Net proceeds from disposition of properties/land 156,891 351,299
Investment in development in progress (78,120) (150,199)
Investment in land held for development (23,150) (12,793)
Investment in deferred leasing costs (23,395) (18,252)
Other 5,154 5,627
Net cash (used in) provided by investing activities (42,122) 39,193
FINANCING ACTIVITIES    
Net proceeds from issuance of common shares 25,227 31,588
Proceeds from unsecured notes 398,576 0
Repayment of unsecured notes (300,000) 0
Repayments of mortgage loans (4,567) (7,013)
Proceeds from credit facility 613,200 0
Repayments on credit facility (710,200) 0
Payment of deferred financing costs (3,551) (3,635)
Distribution paid on common shares (141,395) (139,598)
Distribution paid on units (3,821) (3,814)
Net cash used in financing activities (126,531) (122,472)
Net increase in cash and cash equivalents 4,444 64,071
(Decrease) increase in cash and cash equivalents related to foreign currency translation (737) 1,193
Cash and cash equivalents at beginning of period 69,346 163,414
Cash and cash equivalents at end of period 73,053 228,678
Liberty Property Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 68,388 104,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 117,160 116,547
Amortization of deferred financing costs 2,168 2,629
Impairment - real estate assets 16,775 0
Equity in earnings of unconsolidated joint ventures (1,652) (5,705)
Distributions from unconsolidated joint ventures 4,441 0
Gain on property dispositions (3,520) (48,152)
Share-based compensation/Non-cash compensation 9,504 8,500
Other (6,750) (2,210)
Changes in operating assets and liabilities:    
Restricted cash 2,541 33,239
Accounts receivable 665 (1,307)
Deferred rent receivable (11,319) (7,548)
Prepaid expenses and other assets (16,540) (29,907)
Accounts payable (5,647) 9,100
Accrued interest 2,663 2,753
Other liabilities (5,780) (34,802)
Net cash provided by operating activities 173,097 147,350
INVESTING ACTIVITIES    
Investment in operating properties - acquisitions (36,714) (90,837)
Investment in operating properties - other (33,585) (39,073)
Investments in and advances to unconsolidated joint ventures (17,182) (12,008)
Distributions from unconsolidated joint ventures 7,979 5,429
Net proceeds from disposition of properties/land 156,891 351,299
Investment in development in progress (78,120) (150,199)
Investment in land held for development (23,150) (12,793)
Investment in deferred leasing costs (23,395) (18,252)
Other 5,154 5,627
Net cash (used in) provided by investing activities (42,122) 39,193
FINANCING ACTIVITIES    
Proceeds from unsecured notes 398,576 0
Repayment of unsecured notes (300,000) 0
Repayments of mortgage loans (4,567) (7,013)
Proceeds from credit facility 613,200 0
Repayments on credit facility (710,200) 0
Payment of deferred financing costs (3,551) (3,635)
Capital contributions 25,227 31,588
Distributions to partners (145,216) (143,412)
Net cash used in financing activities (126,531) (122,472)
Net increase in cash and cash equivalents 4,444 64,071
(Decrease) increase in cash and cash equivalents related to foreign currency translation (737) 1,193
Cash and cash equivalents at beginning of period 69,346 163,414
Cash and cash equivalents at end of period $ 73,053 $ 228,678