XML 46 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash Flows - Operating Activities    
Net income $ 15,839,000 $ 11,669,000
Adjustments to net income:    
Depreciation and amortization including intangible assets and deferred financing costs 33,803,000 7,881,000
(Income) loss from equity investments in real estate and the Managed REITs in excess of distributions received (991,000) (1,716,000)
Straight-line rent, financing lease adjustments and amortization of rent-related intangibles 4,459,000 (1,135,000)
Amortization of dererred revenue (2,359,000) (2,359,000)
Loss on sale of real estate 931,000 181,000
Unrealized gain on foreign currency transactions and others (1,002,000) (212,000)
Realized loss (gain) on foreign currency transactions and others 100,000 (75,000)
Management income received in shares of Managed REITs (9,942,000) (6,889,000)
Impairment charges 3,279,000 5,724,000
Stock-based compensation expense 9,149,000 5,261,000
Deferred acquisition revenue received 8,561,000 8,722,000
Increase in structuring revenue receivable (1,437,000) (3,916,000)
(Decrease) increase in income taxes, net (4,144,000) 1,317,000
Increase in prepaid taxes (15,721,000) (6,980,000)
Net changes in other operating assets and liabilities (23,050,000) (21,533,000)
Net cash provided by (used in) operating activities 17,475,000 (4,060,000)
Cash Flows - Investing Activities    
Distributions received from equity investments in real estate and the Managed REITs in excess of equity income 11,955,000 7,370,000
Capital contributions to equity investments (1,418,000) (90,000)
Purchases of real estate (71,131,000)  
Capital expenditures (1,826,000) (1,481,000)
Proceeds from sale of real estate 11,065,000 2,422,000
Other investing activities, net 0 11,000
Funds placed in escrow (27,128,000) (722,000)
Funds released from escrow 50,749,000 1,954,000
Net cash (used in) provided by investing activities (27,734,000) 9,464,000
Cash Flows - Financing Activities    
Distributions paid (45,746,000) (22,792,000)
Contributions from noncontrolling interests 2,463,000 750,000
Distributions paid to noncontrolling interests (9,232,000) (992,000)
Scheduled payments of mortgage principal (102,612,000) (2,357,000)
Proceeds from mortgage financing 99,000,000  
Proceeds from senior credit facility 55,000,000 15,000,000
Repayments of senior credit facility (10,000,000)  
Payment of financing costs and mortgage deposits, net of deposits refunded (570,000) (75,000)
Funds placed in escrow 43,000  
Proceeds from exercise of stock options 25,000 4,249,000
Payment of tax withholding liability related to stock-based compensation awards   2,553,000
Windfall tax benefit associated with stock-based compensation awards 10,764,000 4,597,000
Net cash provided by (used in) financing activities (865,000) (4,173,000)
Change in Cash and Cash Equivalents During the Period    
Effect of exchange rate changes on cash (1,216,000) 185,000
Net (decrease) increase in cash and cash equivalents (12,340,000) 1,416,000
Cash and cash equivalents, beginning of period 123,904,000 29,297,000
Cash and cash equivalents, end of period 111,564,000 30,713,000
Supplemental noncash investing and financing activities    
Reclassifcation To (From) Net Direct Financing Lease 5,600,000  
Dividends Payable Current And Noncurrent $ 57,128,000