XML 54 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$ 116,027,000$ 92,907,000
Adjustments to net income:  
Depreciation and amortization87,542,00070,145,000
Income from discontinued operations(4,460,000)(5,276,000)
Gain on sale of land(210,000)0
Amortization of share-based compensation6,098,0004,824,000
Amortization of net premiums on mortgages payable(98,000)0
Provision for impairment on real estate held for investment10,0000
Cash provided by discontinued operations:  
Real estate773,0002,055,000
Collection of principal on notes receivable110,000103,000
Change in assets and liabilities:  
Accounts receivable and other assets8,672,0007,023,000
Accounts payable, accrued expenses and other liabilities(15,217,000)(15,020,000)
Net cash provided by operating activities199,247,000156,761,000
CASH FLOWS FROM INVESTING ACTIVITIES  
Acquisition of income producing investment properties(766,148,000)(304,615,000)
Proceeds from the sales of real estate:  
Continuing operations783,0000
Discontinued operations11,692,00015,294,000
Restricted escrow deposits(2,830,000)(5,687,000)
Net cash used in investing activities(756,503,000)(295,008,000)
CASH FLOWS FROM FINANCING ACTIVITIES  
Cash distributions to common stockholders(161,276,000)(134,700,000)
Cash dividends to preferred stockholders(18,190,000)(18,190,000)
Borrowings under line of credit378,100,000408,700,000
Payments on line of credit(281,500,000)(413,300,000)
Principal payments on mortgages(138,000)0
Proceeds from common stock offerings, net489,236,000196,899,000
Proceeds from bonds issued, net of financing costs of $9,923140,077,0000
Proceeds from notes issued, net of financing costs of $3,8690246,131,000
Proceeds from dividend reinvestment and stock purchase plan, net1,242,0000
Other items(2,359,000)(1,737,000)
Net cash provided by financing activities545,192,000283,803,000
Net increase (decrease) in cash and cash equivalents(12,064,000)145,556,000
Cash and cash equivalents, beginning of period17,607,00010,026,000
Cash and cash equivalents, end of period$ 5,543,000$ 155,582,000