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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 303,798 $ 238,604 $ 183,808
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations):      
Depreciation and amortization of real estate assets and leasing costs 213,156 201,482 202,108
Depreciation of non-real estate furniture, fixtures and equipment 4,078 2,812 2,370
Increase in provision for bad debts 0 545 58
Non-cash amortization of share-based compensation awards 21,064 15,537 12,095
Non-cash amortization of deferred financing costs and debt discounts and premiums 2,720 1,853 4,315
Non-cash amortization of net below market rents (7,166) (8,449) (8,328)
Gains on sales of depreciable operating properties (164,302) (109,950) 0
Gains on sales of discontinued operations 0 0 (121,922)
Loss (gain) on sales of land (295) 17,116 3,490
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (13,244) (13,338) (10,979)
Straight-line rents (29,629) (44,383) (31,782)
Net change in other operating assets (5,214) (8,085) 367
Net change in other operating liabilities 19,498 12,496 16,633
Net cash provided by operating activities 345,054 272,008 245,253
CASH FLOWS FROM INVESTING ACTIVITIES:      
Expenditures for development properties and undeveloped land 351,012 407,969 417,784
Expenditures for acquisitions of development properties and undeveloped land (33,513) (139,073) (147,182)
Expenditures for acquisitions of operating properties 393,767 0 204,546
Expenditures for operating properties and other capital assets 111,961 99,557 132,080
Net proceeds received from dispositions 325,031 319,639 427,544
Net decrease (increase) in restricted cash (56,015) 65,210 (25,405)
Issuance of notes receivable (16,100) (3,000) 0
Decrease (increase) in acquisition-related deposits 1,902 1,998 (1,983)
Net cash used in investing activities (635,435) (262,752) (501,436)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings on unsecured revolving credit facility 305,000 250,000 505,000
Repayments on unsecured revolving credit facility (305,000) (390,000) (410,000)
Proceeds from the issuance of secured debt 170,000 0 0
Principal payments and repayments of secured debt (74,140) (159,766) (9,845)
Net proceeds from the issuance of unsecured debt 0 397,776 395,528
Repayments of unsecured debt 0 325,000 83,000
Repayments of exchangeable senior notes 0 0 (172,500)
Borrowings on unsecured debt 0 0 39,000
Financing costs (2,159) (4,814) (8,648)
Net proceeds from issuance of common stock 31,117 387,398 102,229
Proceeds from exercise of stock options 12,208 14,573 21,092
Repurchase of common stock and restricted stock units (8,875) (7,081) (3,533)
Contributions from noncontrolling interests in consolidated property partnerships 453,449 474 977
Distributions to noncontrolling interests in consolidated property partnerships (3,615) 0 0
Dividends and distributions paid to common stockholders and common unitholders (137,444) (126,839) (118,463)
Dividends and distributions paid to preferred stockholders and preferred unitholders (13,250) (13,250) (13,250)
Net cash provided by financing activities 427,291 23,471 244,587
Net increase (decrease) in cash and cash equivalents 136,910 32,727 (11,596)
Cash and cash equivalents, beginning of year 56,508 23,781 35,377
Cash and cash equivalents, end of year $ 193,418 $ 56,508 $ 23,781