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Consolidated Statements of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$ 60,275$ 49,572
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization (including amortization of debt issuance costs)27,61425,745
Straight-lining of rental income(9,961)(11,586)
Reversal of income tax liability(2,561)(5,113)
Stock-based compensation expense3000
Changes in operating assets and liabilities:  
Accounts receivable, net1,493(8,066)
Other assets(15,225)(11,945)
Amounts due to Vornado(477)(1,400)
Accounts payable and accrued expenses6,4085,144
Income tax liability of taxable REIT subsidiary80565
Other liabilities(23)(170)
Net cash provided by operating activities67,92342,746
CASH FLOW FROM INVESTING ACTIVITIES  
Proceeds from maturing short-term investments23,00040,000
Construction in progress and real estate additions(10,226)(20,608)
Purchases of short-term investments(5,000)(23,000)
Restricted cash(2,465)2,408
Net cash provided by (used in) investing activities5,309(1,200)
CASH FLOWS FROM FINANCING ACTIVITIES  
Proceeds from borrowings250,00030,254
Debt repayments(160,037)(39,269)
Dividends paid(45,956)(25,530)
Debt issuance costs(4,269)0
Distributions to noncontrolling interests(600)0
Net cash provided by (used in) financing activities39,138(34,545)
Net increase in cash and cash equivalents112,3707,001
Cash and cash equivalents at beginning of period397,220412,734
Cash and cash equivalents at end of period509,590419,735
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION  
Cash payments for interest (of which $1,144 was capitalized in 2010)40,52840,300
Cash payments for income taxes053
NON-CASH TRANSACTIONS  
Non-cash additions to real estate included in accounts payable and accrued expenses3,7890
Write-off of fully amortized and depreciated assets$ 6,510$ 779