Three Months Ended March 31,

2012

2011

Supplemental cash flow information:

Interest paid, net of capitalized interest

$

137,001

$

84,789

Income taxes paid

142

168

Supplemental schedule of non-cash investing activities:

Capitalized interest

6,683

5,988

Accrued construction costs

14,589

3,784

Supplemental schedule of non-cash financing activities:

Preferred stock redemption accrual

296,896

—

Vesting of restricted stock units

314

207

Cancellation of restricted stock

(1

)

(4

)

Conversion of non-managing member units into common stock

1,034

—

Mortgages included in the consolidation of HCP Ventures II

—

635,182

Mortgages assumed with other real estate acquisitions

—

48,252

Unrealized losses on available-for-sale securities and derivatives designated as cash flow hedges, net

1,580

327