XML 63 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
OPERATING ACTIVITIES      
Net income $ 167,608 $ 156,232 $ 149,612
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization, including discontinued operations 161,099 142,039 126,568
Gain on sale of real estate (28,855) (11,860) (15,075)
Gain on deconsolidation of VIE 0 0 (2,026)
Early extinguishment of debt 13,304 0 (296)
Income from real estate partnerships (1,498) (1,757) (1,808)
Other, net 2,704 4,348 3,871
Changes in assets and liabilities, net of effects of acquisitions and dispositions      
Increase (decrease) in accounts receivable (6,321) 7,332 1,888
Decrease (increase) in prepaid expenses and other assets 69 (7,793) 2,613
Increase (decrease) in accounts payable and accrued expenses 5,325 3,259 (14,994)
Increase (decrease) in security deposits and other liabilities 1,063 4,833 (5,642)
Net cash provided by operating activities 314,498 296,633 244,711
INVESTING ACTIVITIES      
Acquisition of real estate (87,276) (80,865) (103,557)
Capital expenditures - development and redevelopment (243,073) (129,346) (91,922)
Capital expenditures - other (47,069) (51,325) (50,540)
Proceeds from sale of real estate 42,866 0 23,695
Investment in real estate partnerships 0 0 (6,947)
Distribution from real estate partnership in excess of earnings 790 1,116 1,070
Distribution from sale of real estate partnership properties 0 0 34,617
Leasing costs (12,393) (14,233) (12,415)
Repayment of mortgage and other notes receivable, net 957 1,095 9,630
Net cash used in investing activities (345,198) (273,558) (196,369)
FINANCING ACTIVITIES      
Net repayments under revolving credit facility, net of costs (1,929) 0 (81,159)
Issuance of senior notes, net of costs 564,389 244,807 0
Purchase and retirement of senior notes/debentures (293,360) (175,000) (75,000)
Issuance of mortgages, capital leases and notes payable, net of costs 860 5,399 272,193
Repayment of mortgages, capital leases and notes payable (173,735) (53,414) (91,952)
Issuance of common shares 186,548 112,270 154,921
Dividends paid to common and preferred shareholders (193,016) (178,020) (167,313)
Distributions to and redemptions of noncontrolling interests (7,118) (9,935) (8,023)
Net cash provided by (used in) financing activities 82,639 (53,893) 3,667
Increase (decrease) in cash and cash equivalents 51,939 (30,818) 52,009
Cash and cash equivalents at beginning of year 36,988 67,806 15,797
Cash and cash equivalents at end of period $ 88,927 $ 36,988 $ 67,806