XML 29 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash Flows from Operating Activities:    
Net income $ 67,943 $ 55,002
Operating distributions received from unconsolidated joint ventures 1,236 1,753
Adjustments to reconcile net income to net cash provided by operating activities:    
Income attributable to noncontrolling interest- discontinued operations 0 235
Depreciation 55,447 54,769
Amortization of deferred financing costs 1,393 2,687
Other amortization 23,578 27,349
Accretion of notes receivable discount 0 (482)
Stock compensation expense 623 1,864
Equity in income of unconsolidated joint ventures (416) (547)
Gain on sale of real estate assets (27,838) 0
Gain on consolidation of variable interest entity 0 (1,532)
Changes in assets and liabilities:    
Increase in tenant receivables, net (8,255) (3,667)
Increase in restricted cash and escrows (39,007) (3,354)
Decrease (increase) in prepaid expenses and other assets 2,604 (5,381)
Decrease in accounts payable and accrued expenses (5,097) (5,866)
Decrease in deferred income (3,654) (7,603)
Net cash provided by operating activities 68,557 115,227
Cash Flows from Investing Activities:    
Investments in real estate assets and related intangibles (35,215) (76,121)
Cash assumed upon consolidation of variable interest entity 0 5,063
Net sales proceeds from wholly-owned properties 49,245 0
Net sales proceeds from unconsolidated joint ventures 0 321
Investments in unconsolidated joint ventures 0 (158)
Deferred lease costs paid (15,236) (20,149)
Net cash used in investing activities (1,206) (91,044)
Cash Flows from Financing Activities:    
Deferred financing costs paid (12) (83)
Proceeds from line of credit and notes payable 142,000 349,000
Repayments of line of credit and notes payable (214,000) (299,000)
Costs of issuance of common stock (229) 0
Share repurchases as part of an announced program (38,878) 0
Dividends paid and discount on dividend reinvestments (69,053) (109,414)
Net cash used in financing activities (180,172) (59,497)
Net decrease in cash and cash equivalents (112,821) (35,314)
Cash and cash equivalents, beginning of period 139,690 56,718
Cash and cash equivalents, end of period 26,869 21,404
Supplemental Disclosures of Significant Noncash Investing and Financing Activities:    
Change in accrued offering costs related to issuance of common stock 0 479
Change in accrued share repurchases as part of an announced program 4,040 0
Accrued capital expenditures and deferred lease costs 12,493 2,111
Net assets assumed upon consolidation of variable interest entity, net of notes receivable previously recorded 0 188,283
Liabilities assumed upon consolidation of variable interest entity $ 0 $ 191,814