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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 178,113 $ 44,002
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of building and improvements and leasing costs 49,664 50,843
Depreciation of furniture, fixtures and equipment 776 644
Increase in provision for bad debts 0 242
Noncash amortization of share-based compensation awards 4,703 3,571
Noncash amortization of deferred financing costs and debt discounts and premiums 609 454
Noncash amortization of net below market rents (Note 4) (1,603) (1,928)
Gains on sale of depreciable operating properties (Note 3) (145,990) 0
Gains on sale of land 0 (17,268)
Noncash amortization of deferred revenue related to tenant-funded tenant improvements (2,888) (3,013)
Straight-line rents (9,451) (19,692)
Net change in other operating assets 1,561 (8,421)
Net change in other operating liabilities 2,710 5,545
Net cash provided by operating activities 78,204 54,979
CASH FLOWS FROM INVESTING ACTIVITIES:    
Expenditures for development properties and undeveloped land (63,702) (89,810)
Expenditures for acquisition of undeveloped land (Note 2) (33,513) (50,435)
Expenditures for operating properties (25,938) (24,345)
Net proceeds received from dispositions (Note 3) 262,409 25,563
(Increase) decrease in restricted cash (Note 3) (260,904) 58,619
(Increase) decrease in acquisition-related deposits (4,085) 3,099
Increase in note receivable (1,000) 0
Net cash used in investing activities (126,733) (77,309)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock 0 113,097
Borrowings on unsecured revolving credit facility 80,000 150,000
Repayments on unsecured revolving credit facility (5,000) (160,000)
Principal payments on secured debt (Note 6) (2,377) (28,472)
Financing costs (337) (397)
Repurchase of common stock and restricted stock units (5,619) (1,821)
Proceeds from exercise of stock options 256 10,482
Dividends and distributions paid to common stockholders and common unitholders (32,944) (30,846)
Dividends and distributions paid to preferred stockholders and preferred unitholders (3,313) (3,313)
Net cash provided by financing activities 30,666 48,730
Net (decrease) increase in cash and cash equivalents (17,863) 26,400
Cash and cash equivalents, beginning of period 56,508 23,781
Cash and cash equivalents, end of period $ 38,645 $ 50,181