XML 21 R6.htm IDEA: XBRL DOCUMENT v2.3.0.15
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income (loss)$ 759$ (7,064)
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:  
Gain on sale of investment properties, net(2,614)(8,447)
Loss on extinguishment of debt74592
Impairment loss3,508586
Losses on abandoned predevelopment projects 1,949
Depreciation and amortization40,28342,455
Amortization of deferred financing costs1,4801,495
Stock-based compensation1,6831,771
Effect of recognizing rental revenues on a straight-line or market basis(5,302)(3,635)
Income from unconsolidated joint ventures(7,468)(7,493)
Operating distributions from unconsolidated joint ventures7,4167,814
Residential lot, outparcel and multi-family cost of sales, net of closing costs paid2,54726,817
Residential lot acquisition and development expenditures(818)(1,663)
Changes in other operating assets and liabilities:  
Change in other receivables and other assets(1,015)1,536
Change in accounts payable and accrued liabilities(2,052)4,628
Net cash provided by operating activities38,48161,341
CASH FLOWS FROM INVESTING ACTIVITIES:  
Proceeds from investment property sales69,61598,694
Property acquisition and development and tenant asset expenditures(34,700)(26,355)
Investment in unconsolidated joint ventures(13,885)(8,344)
Distributions from unconsolidated joint ventures5,4033,654
Payment of debt guarantee of unconsolidated joint venture (17,250)
Collection of notes receivable348132
Change in other assets(3,210)(1,852)
Change in restricted cash10,007(14,047)
Net cash provided by investing activities33,57834,632
CASH FLOWS FROM FINANCING ACTIVITIES:  
Proceeds from credit facility98,85043,400
Repayment of credit and term facilities(84,450)(113,800)
Proceeds from other notes payable 27,034
Repayment of notes payable(58,401)(32,479)
Payment of loan issuance costs(442)(1,997)
Common stock issued, net of expenses18173
Cash common dividends paid(13,982)(9,091)
Cash preferred dividends paid(9,680)(9,680)
Contributions from noncontrolling interests1,3002,113
Distributions to noncontrolling interests(7,237)(1,899)
Net cash used in financing activities(74,024)(96,226)
NET DECREASE IN CASH AND CASH EQUIVALENTS(1,965)(253)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD7,5999,464
CASH AND CASH EQUIVALENTS AT END OF PERIOD5,6349,211
INTEREST PAID, NET OF AMOUNTS CAPITALIZED19,67927,063
INCOME TAXES REFUNDED, NET OF AMOUNTS PAID3773,288
SIGNIFICANT NON-CASH TRANSACTIONS:  
Transfer from other assets to investment in unconsolidated joint ventures6,050 
Transfer from investment in joint venture to deposits and deferred income 12,713
Land received on note receivable default $ 5,030