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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 209,296 $ 152,378
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations):    
Depreciation and amortization of building and improvements and leasing costs 150,531 148,878
Increase in provision for bad debts 289 58
Depreciation of furniture, fixtures and equipment 2,036 1,731
Noncash amortization of share-based compensation awards 11,272 8,817
Noncash amortization of deferred financing costs and debt discounts and premiums 1,412 3,563
Noncash amortization of net below market rents (Note 4) (6,769) (6,216)
Gain on sale of land (Note 3) (17,268) (3,490)
Gains on sales of depreciable operating properties (Note 3) (109,950) 0
Gains on dispositions of discontinued operations (Note 1) 0 (110,391)
Noncash amortization of deferred revenue related to tenant-funded tenant improvements (9,957) (7,695)
Straight-line rents (35,530) (15,245)
Net change in other operating assets (9,356) (795)
Net change in other operating liabilities 16,606 25,671
Net cash provided by operating activities 202,612 197,264
CASH FLOWS FROM INVESTING ACTIVITIES:    
Expenditures for development and redevelopment properties and undeveloped land (311,916) (292,803)
Expenditures for acquisition of development properties (Note 2) (130,609) (97,727)
Expenditures for operating properties (71,756) (93,977)
Expenditures for acquisition of operating properties 0 (106,125)
Net proceeds received from dispositions of land and operating properties (Note 3) 319,639 368,381
Decrease in acquisition-related deposits 3,200 1,000
Issuance of note receivable 3,000 0
Decrease in restricted cash (Note 1) 57,776 32,293
Net cash used in investing activities (136,666) (188,958)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock (Note 8) 387,509 22,136
Borrowings on unsecured revolving credit facility 250,000 365,000
Repayments on unsecured revolving credit facility (390,000) (410,000)
Principal payments on secured debt (Note 6) (67,335) (7,315)
Net proceeds from the issuance of unsecured debt (Note 6) 397,776 395,528
Repayments of unsecured debt (Note 6) 0 83,000
Repayments for early redemption of exchangeable senior notes 0 37,092
Financing costs (4,534) (8,043)
Repurchase of common stock and restricted stock units (3,121) (2,861)
Proceeds from exercise of stock options (Note 10) 11,292 20,537
Contributions from noncontrolling interests in consolidated subsidiary 474 336
Dividends and distributions paid to common stockholders and common unitholders (93,910) (88,540)
Dividends and distributions paid to preferred stockholders and preferred unitholders (9,938) (9,938)
Net cash provided by financing activities 478,213 156,748
Net increase in cash and cash equivalents 544,159 165,054
Cash and cash equivalents, beginning of period 23,781 35,377
Cash and cash equivalents, end of period 567,940 200,431
SUPPLEMENTAL CASH FLOWS INFORMATION:    
Cash paid for interest, net of capitalized interest of $37,010 and $33,533 as of September 30, 2015 and 2014, respectively 45,678 42,633
NONCASH INVESTING TRANSACTIONS:    
Accrual for expenditures for operating properties and development and redevelopment properties 89,009 92,693
Tenant improvements funded directly by tenants 12,944 23,069
Assumption of other liabilities in connection with development acquisitions 5,070 2,300
Release of holdback funds to third party 9,279 0
NONCASH FINANCING TRANSACTIONS:    
Accrual of dividends and distributions payable to common stockholders and common unitholders 33,353 30,258
Accrual of dividends and distributions payable to preferred stockholders and preferred unitholders 1,656 1,656
Exchange of common units of the Operating Partnership into shares of the Company’s common stock $ 467 $ 28