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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 2,171 $ (68,159)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation 43,665 44,844
Amortization 4,149 4,097
Amortization of deferred financing costs 2,663 2,453
Amortization of intangibles other than in-place leases 819 386
Straight-line rent amortization (1,270) (3,981)
Deferred income taxes (4,000) (21,619)
Restricted stock and stock option amortization 3,837 2,533
Net gain on sale of equity method investments (5,016) 0
(Gain) loss on extinguishment of debt 282 35,915
Impairment charges 0 717
Equity in (earnings) losses from real estate and other affiliates, net of distributions and impairment charges (6,108) (10,633)
Provision for doubtful accounts 515 432
Master Planned Community development expenditures (78,883) (52,980)
Master Planned Community cost of sales 24,686 15,652
Condominium development expenditures (76,350) (81,206)
Condominium rights and units cost of sales 13,603 53,017
Net Changes:    
Accounts and notes receivable 11,996 (3,578)
Prepaid expenses and other assets (5,931) 30,739
Condominium deposits received 37,056 15,528
Deferred expenses (3,800) (1,134)
Accounts payable and accrued expenses (64,844) (47,765)
Cash provided by (used in) operating activities (100,760) (84,742)
CASH FLOWS FROM INVESTING ACTIVITIES    
Property and equipment expenditures (281) (400)
Operating property improvements (8,186) (11,829)
Property development and redevelopment (93,219) (45,188)
Distributions from real estate and other affiliates 205,099 985
Investments in real estate and other affiliates, net (69,554) (553)
Cash provided by (used in) investing activities 33,859 (56,985)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from mortgages, notes and loans payable 175,075 1,402,869
Principal payments on mortgages, notes and loans payable (91,939) (1,283,512)
Repurchases of common shares (179,293) 0
Debt extinguishment costs 0 (29,655)
Special Improvement District bond funds released from (held in) escrow 3,792 2,264
Deferred financing costs and bond issuance costs, net (2,030) (20,253)
Taxes paid on stock options exercised and restricted stock vested (1,996) (2,134)
Stock options exercised 175 3,479
Cash provided by (used in) financing activities (96,216) 73,058
Net change in cash, cash equivalents and restricted cash (163,117) (68,669)
Cash, cash equivalents and restricted cash at beginning of period 1,216,637 1,242,997
Cash, cash equivalents and restricted cash at end of period 1,053,520 1,174,328
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 67,871 64,563
Interest capitalized 19,553 17,138
Income taxes paid (refunded), net 526 0
NON-CASH TRANSACTIONS    
Reclassification of Redeemable noncontrolling interest to Accounts payable and accrued expenses upon sale of 110 North Wacker 22,500 0
Accrued property improvements, developments and redevelopments 7,693 8,467
Accrued repurchase of common shares 6,868 0
Capitalized stock compensation $ 1,971 $ 517