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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income (loss) $ 94,723 $ 44,208 $ (12,037)
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation and amortization 190,387 182,955 118,031
Depreciation and amortization-discontinued operations 0 116 4,560
Net amortization of above (below) market leases (16,288) (13,690) 2,210
Net amortization of above market leases-discontinued operations 0 0 33
Amortization of financing costs 3,112 2,845 2,448
Amortization of financing costs-discontinued operations 0 0 17
Amortization of debt premium, net (12,025) (6,374) 0
Non-cash adjustment for interest rate swaps 136 (19) 0
Share-based compensation expense 6,230 7,417 5,730
Deferred income tax expense (benefit) 363 (4,763) (1,960)
Gain on sale of in-substance real estate 0 (6,289) 0
Net gains on sale of real estate (110,732) (76,378) 0
Net gains on sale of real estate-discontinued operations 0 (10,463) (32,493)
Gain on sale of unconsolidated property (9,698) 0 0
Non-cash impairment loss on real estate 5,400 11,700 0
Non-cash impairment loss on real estate-discontinued operations 0 0 10,200
Non-cash impairment loss on management contracts, net of tax 0 4,750 0
Loss on extinguishment of debt 6,062 0 0
Equity in (earnings) losses of unconsolidated joint ventures (2,204) 967 (178)
Distributions of income from unconsolidated joint ventures 4,490 5,338 0
Increase in deferred leasing costs (22,589) (16,742) (16,117)
Changes in operating assets and liabilities:      
Change in condominium units 9,318 10,582 0
Change in receivables and other assets (54,976) (65,846) (25,739)
Change in accounts payable and other liabilities (9,061) (17,310) 10,381
Cash provided by operating activities 82,648 53,004 65,086
Investing activities      
Issuance of mortgage loan receivable 0 0 (3,523)
Proceeds from mortgage loan receivable 86 85 21
Distributions of capital from unconsolidated joint ventures 28,240 251 29,405
Investment in unconsolidated joint ventures (4,705) (3,505) (86,685)
Investment in real estate (219,721) (750,004) (187,442)
Acquisition of TPGI, net of cash received 0 0 (54,031)
Proceeds from sale of in-substance real estate 0 24,923 0
Proceeds from sale of real estate 420,190 382,912 191,485
Real estate development (29,208) (14,282) (745)
Improvements to real estate (89,001) (52,569) (35,373)
Cash provided by (used in) investing activities 105,881 (412,189) (146,888)
Financing activities      
Principal payments on mortgage notes payable and debt extinguishments (180,315) (53,402) (73,385)
Proceeds from mortgage notes payable 30,647 481 178,000
Proceeds from bank borrowings 454,850 398,590 542,234
Payments on bank borrowings (386,350) (220,090) (501,234)
Debt financing costs (2,960) (3,893) (2,749)
Purchase of Company stock 0 0 (49)
Dividends paid on common stock (83,833) (76,734) (41,818)
Dividends paid on common units of Operating Partnership (3,723) (3,848) 0
Dividends paid on preferred stock 0 0 (3,433)
Acquisition of noncontrolling interests 0 (43,502) 0
Contributions from noncontrolling interest partners 2,125 4,175 0
Distributions to noncontrolling interest partners (60,016) (2,713) (113,178)
Redemption of preferred stock 0 0 (135,532)
Proceeds from stock offerings, net of offering costs 0 417,684 209,768
Other (234) 0 0
Cash (used in) provided by financing activities (229,809) 416,748 58,624
Change in cash and cash equivalents (41,280) 57,563 (23,178)
Cash and cash equivalents at beginning of year 116,241 58,678 81,856
Cash and cash equivalents at end of year 74,961 116,241 58,678
Supplemental cash flow information:      
Cash paid for interest 80,744 71,339 43,334
Cash paid for income taxes 2,275 4,792 56
Assets acquired in TPGI merger 0 0 1,202,732
Liabilities assumed in TPGI merger 0 0 122,282
Noncontrolling interests acquired in TPGI merger 0 0 34,230
Shares issued in TPGI merger 0 0 331,260
Issuance of limited voting stock in TPGI merger 0 0 4
Acquisition of Lincoln Place 0 0 68,430
Issuance of Operating Partnership units 0 1,546 96,409
Transfer of assets classified as held for sale 21,373 24,079 16,260
Transfer of liabilities classified as held for sale 1,003 2,035 566
Mortgage loans assumed in purchases 56,140 301,251 727,451
Operating Partnership units converted to common stock 6,337 0 4,302
San Jacinto Center and One Congress Plaza      
Acquisitions 0 311,400 0
One Orlando Centre      
Acquisitions $ 0 $ 54,000 $ 0