XML 25 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (53,812) $ (26,504)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 193,117 206,092
Equity in losses (earnings) of unconsolidated real estate partnerships 3,446 (3,853)
Gain on dispositions of unconsolidated real estate and other (2,021) (4,485)
Discontinued operations (16,641) (33,424)
Other adjustments 9,063 2,090
Net changes in operating assets and operating liabilities (37,944) (28,953)
Net cash provided by operating activities 95,208 110,963
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (61,849) (79,023)
Proceeds from dispositions of real estate 87,313 107,163
Purchases of interests in unconsolidated real estate and corporate assets (28,714) (3,291)
Purchase of investment in debt securities (Note 4) (51,534)  
Originations of notes receivable from unconsolidated real estate partnerships (411) (733)
Proceeds from repayment of notes receivable 6,264 1,650
Proceeds from sale of interests in and distributions from real estate partnerships 3,303 9,132
Net increase in cash from consolidation and deconsolidation of entities   13,118
Distributions received from Aimco 134 112
Other investing activities 12,090 8,341
Net cash (used in) provided by investing activities (33,404) 56,469
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from property loans 662,601 125,491
Principal repayments on property loans (647,719) (124,794)
Principal repayments on tax-exempt bond financing (98,447) (31,061)
Payments on term loans   (65,000)
Net borrowings on revolving credit facility 21,500  
Repurchases of preferred units from Aimco (7,000) (7,000)
Proceeds from issuance of common OP Units to Aimco 60,973  
Proceeds from Aimco Class A Common Stock option exercises 1,806 1,806
Payment of distributions to preferred units (28,219) (29,204)
Payment of distributions to General Partner and Special Limited Partner (28,711) (23,446)
Payment of distributions to Limited Partners (1,461) (1,212)
Payment of distributions to High Performance Units (564) (468)
Payment of distributions to noncontrolling interests (16,606) (23,568)
Other financing activities (5,958) 8,082
Net cash used in financing activities (87,805) (170,374)
NET DECREASE IN CASH AND CASH EQUIVALENTS (26,001) (2,942)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 111,325 81,260
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 85,324 $ 78,318