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Consolidated Statements of Cash Flows (USD $)
In Thousands
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (89,624) $ (44,800) $ 627,002
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 421,825 424,913 373,862
Provision for impairment losses on real estate development assets     91,138
Provision for operating real estate impairment losses 352 2,329  
Equity in losses of unconsolidated real estate partnerships 23,112 11,401 4,736
Gain on dispositions of unconsolidated real estate and other (10,675) (21,570) (97,403)
Income tax benefit (18,328) (17,487) (56,574)
Stock-based compensation expense 7,331 6,666 13,833
Amortization of deferred loan costs and other 9,742 10,399 9,432
Distributions of earnings from unconsolidated entities 1,231 4,893 14,619
Discontinued operations:      
Depreciation and amortization 15,008 70,655 141,686
Gain on disposition of real estate (94,901) (221,770) (800,270)
Other adjustments to income from discontinued operations 20,105 52,531 70,585
Changes in operating assets and operating liabilities:      
Accounts receivable 25,561 27,067 4,848
Other assets 16,567 18,954 75,211
Accounts payable, accrued liabilities and other (69,806) (90,369) (32,337)
Total adjustments 347,124 278,612 (186,634)
Net cash provided by operating activities 257,500 233,812 440,368
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate     (112,655)
Capital expenditures (178,929) (300,344) (665,233)
Proceeds from dispositions of real estate 218,571 875,931 2,060,344
Proceeds from sale of interests and distributions from real estate partnerships 19,707 25,067 94,277
Purchases of partnership interests and other assets (9,399) (6,842) (28,121)
Originations of notes receivable (1,190) (5,778) (6,911)
Proceeds from repayment of notes receivable 5,699 5,264 8,929
Net increase in cash from consolidation and deconsolidation of entities 13,128 98 241
Other investing activities 18,788 36,858 (6,002)
Net cash provided by investing activities 86,375 630,254 1,344,869
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from property loans 449,384 772,443 949,549
Principal repayments on property loans (426,662) (1,076,318) (1,291,543)
Proceeds from tax-exempt bond financing   15,727 50,100
Principal repayments on tax-exempt bond financing (66,466) (157,862) (217,361)
Payments on term loans (90,000) (310,000) (75,000)
(Payments on) proceeds from other borrowings (13,469) (40,085) 21,367
Proceeds from issuance of preferred stock 96,110    
Proceeds from issuance of Common Stock 14,350    
Repurchases and redemptions of preferred stock (108,000) (4,200) (24,840)
Repurchases of Class A Common Stock     (502,296)
Proceeds from Class A Common Stock option exercises 1,806   481
Payment of Class A Common Stock dividends (46,729) (95,335) (212,286)
Payment of preferred stock dividends (53,435) (52,215) (55,215)
Payment of distributions to noncontrolling interests (54,557) (120,361) (330,582)
Other financing activities (16,142) (14,276) (8,396)
Net cash used in financing activities (313,810) (1,082,482) (1,696,022)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 30,065 (218,416) 89,215
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 81,260 299,676 210,461
CASH AND CASH EQUIVALENTS AT END OF YEAR 111,325 81,260 299,676
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest paid 311,432 348,341 434,645
Cash paid for income taxes 1,899 4,560 13,780
Non-cash transactions associated with the disposition of real estate:      
Secured debt assumed in connection with the disposition of real estate 157,629 314,265 157,394
Issuance of notes receivable in connection with the disposition of real estate 4,544 3,605 10,372
Non-cash transactions associated with consolidation and deconsolidation of real estate partnerships:      
Real estate, net 80,629 6,058 25,830
Investments in and notes receivable primarily from affiliated entities 41,903 4,326 4,497
Restricted cash and other assets 3,290 (1,682) 5,483
Non-recourse debt 61,211 2,031 22,036
Noncontrolling interests in consolidated real estate partnerships 57,099 2,225 11,896
Accounts payable, accrued and other liabilities 20,640 4,544 2,124
Other non-cash transactions:      
Redemption of common OP Units for Class A Common Stock   7,085 4,182
Cancellation of notes receivable from officers for Class A Common Stock purchases (251) (1,452) (385)
Common Stock issued pursuant to special dividends (Note 11)   (148,746) (487,477)
Issuance of common OP Units for acquisition of noncontrolling interests in consolidated real estate partnerships (Note 3) $ 6,854