XML 111 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net income (loss) $ (75,868) $ 96,309 $ 65,262
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation of buildings and tenant improvements 262,825 267,222 271,058
Amortization of deferred leasing and other costs 116,594 118,457 89,126
Amortization of deferred financing costs 13,321 14,530 13,897
Straight-line rent adjustment (19,546) (23,877) (15,233)
Impairment charges 0 12,931 9,834
(Gain) loss on debt extinguishment 0 0 16,349
(Gain) loss on acquisitions 0 (1,057) (57,715)
Earnings from land and depreciated property sales (13,811) (169,431) (72,716)
Third-party construction contracts, net (10,837) (17,352) (6,449)
Other accrued revenues and expenses, net 13,300 24,001 68,892
Operating distributions received in excess of equity in earnings from unconsolidated companies 13,179 15,804 8,851
Net cash provided by operating activities 299,157 337,537 391,156
Cash flows from investing activities:      
Development of real estate investments (264,755) (162,070) (119,404)
Acquisition of real estate investments and related intangible assets, net of cash acquired (665,527) (544,816) (488,539)
Acquisition of undeveloped land (64,944) (14,090) (14,404)
Second generation tenant improvements, leasing costs and building improvements (63,884) (99,264) (88,723)
Other deferred leasing costs (27,772) (26,311) (38,905)
Other assets 4,504 747 (7,260)
Proceeds from land and depreciated property sales, net 138,118 1,572,093 499,520
Capital distributions from unconsolidated companies 5,157 59,252 22,119
Capital contributions and advances to unconsolidated companies (28,513) (34,606) (53,194)
Net cash provided by (used for) investing activities (967,616) 750,935 (288,790)
Cash flows from financing activities:      
Proceeds from issuance of common shares, net 315,295 0 298,004
Payments for redemption/repurchase of preferred shares (168,272) (110,726) (118,787)
Proceeds from Issuance of Unsecured Debt 600,000 0 250,000
Payments on and repurchases of unsecured debt (222,846) (334,432) (392,597)
Proceeds from Secured Notes Payable 13,336 0 4,158
Payments on secured indebtedness including principal amortization (117,287) (29,025) (207,060)
Proceeds from (Repayments of) Lines of Credit 264,707 (172,753) 177,276
Distributions to common shareholders (181,892) (171,814) (162,015)
Distributions to preferred shareholders (46,438) (60,353) (69,468)
Contributions from (distributions to) noncontrolling interests, net 2,179 (5,292) (5,741)
Buyout of noncontrolling interests (6,208) 0 0
Increase (Decrease) in Book Overdrafts 45,272 0 0
Deferred financing costs (9,307) (8,652) (5,074)
Net cash provided by (used for) financing activities 488,539 (893,047) (231,304)
Net increase (decrease) in cash and cash equivalents (179,920) 195,425 (128,938)
Cash and cash equivalents at beginning of year 213,809 18,384 147,322
Cash and cash equivalents at end of year 33,889 213,809 18,384
Non-cash investing and financing activities:      
Assumption of indebtedness and other liabilities in real estate acquisitions 112,754 177,082 527,464
Contribution of properties to, net of debt assumed by, unconsolidated companies 0 53,293 41,609
Investments and advances related to acquisition of previously unconsolidated companies 0 5,987 184,140
Assumption of indebtedness by buyer in real estate dispositions 0 24,914 0
Conversion of Limited Partner Units to common shares 29,213 3,130 (8,055)
Issuance of Limited Partner Units for acquisition 0 28,357 0
Subsidiary of Common Parent [Member]
     
Cash flows from operating activities:      
Net income (loss) (75,868) 96,309 65,262
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation of buildings and tenant improvements 262,825 267,222 271,058
Amortization of deferred leasing and other costs 116,594 118,457 89,126
Amortization of deferred financing costs 13,321 14,530 13,897
Straight-line rent adjustment (19,546) (23,877) (15,233)
Impairment charges 0 12,931 9,834
(Gain) loss on debt extinguishment 0 0 16,349
(Gain) loss on acquisitions 0 (1,057) (57,715)
Earnings from land and depreciated property sales (13,811) (169,431) (72,716)
Third-party construction contracts, net (10,837) (17,352) (6,449)
Other accrued revenues and expenses, net 13,399 24,036 68,512
Operating distributions received in excess of equity in earnings from unconsolidated companies 13,179 15,804 8,851
Net cash provided by operating activities 299,256 337,572 390,776
Cash flows from investing activities:      
Development of real estate investments (264,755) (162,070) (119,404)
Acquisition of real estate investments and related intangible assets, net of cash acquired (665,527) (544,816) (488,539)
Acquisition of undeveloped land (64,944) (14,090) (14,404)
Second generation tenant improvements, leasing costs and building improvements (63,884) (99,264) (88,723)
Other deferred leasing costs (27,772) (26,311) (38,905)
Other assets 4,504 747 (7,260)
Proceeds from land and depreciated property sales, net 138,118 1,572,093 499,520
Capital distributions from unconsolidated companies 5,157 59,252 22,119
Capital contributions and advances to unconsolidated companies (28,513) (34,606) (53,194)
Net cash provided by (used for) investing activities (967,616) 750,935 (288,790)
Cash flows from financing activities:      
Contributions from the General Partner 315,295 0 298,066
Payments for redemption/repurchase of preferred shares (168,272) (110,726) (118,787)
Proceeds from Issuance of Unsecured Debt 600,000 0 250,000
Payments on and repurchases of unsecured debt (222,846) (334,432) (392,597)
Proceeds from Secured Notes Payable 13,336 0 4,158
Payments on secured indebtedness including principal amortization (117,287) (29,025) (207,060)
Proceeds from (Repayments of) Lines of Credit 264,707 (172,753) 177,276
Distributions to common shareholders (185,299) (176,593) (165,881)
Distributions to preferred shareholders (46,438) (60,353) (69,468)
Contributions from (distributions to) noncontrolling interests, net 5,470 (566) (1,739)
Buyout of noncontrolling interests (6,208) 0 0
Increase (Decrease) in Book Overdrafts 45,272 0 0
Deferred financing costs (9,307) (8,652) (5,074)
Net cash provided by (used for) financing activities 488,423 (893,100) (231,106)
Net increase (decrease) in cash and cash equivalents (179,937) 195,407 (129,120)
Cash and cash equivalents at beginning of year 213,826 18,419 147,539
Cash and cash equivalents at end of year 33,889 213,826 18,419
Non-cash investing and financing activities:      
Assumption of indebtedness and other liabilities in real estate acquisitions 112,754 177,082 527,464
Contribution of properties to, net of debt assumed by, unconsolidated companies 0 53,293 41,609
Investments and advances related to acquisition of previously unconsolidated companies 0 5,987 184,140
Assumption of indebtedness by buyer in real estate dispositions 0 24,914 0
Conversion of Limited Partner Units to common shares 29,213 3,130 (8,055)
Issuance of Limited Partner Units for acquisition $ 0 $ 28,357 $ 0