XML 41 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ (69,755) $ 485,902
Depreciation and amortization of real estate, in-place lease and other intangibles 234,925 220,521
Amortization of market lease intangibles, net (636) (343)
Amortization of deferred compensation 15,724 11,006
Amortization of deferred financing costs, net 9,726 9,474
Straight-line rents (17,748) (26,455)
Loan and direct financing lease interest accretion (46,997) (39,401)
Deferred rental revenues (1,004) (515)
Equity income from unconsolidated joint ventures (25,602) (29,220)
Distributions of earnings from unconsolidated joint ventures 2,493 2,655
Lease termination income, net (1,103)  
Gain on sales of real estate (6,325) (28,010)
Foreign exchange and other (gains) losses, net (9,866) 58
Impairments 523,299  
Changes in:    
Accounts receivable, net (6,464) (5,225)
Other assets (8,473) (6,136)
Accounts payable and other accrued liabilities 1,792 13,394
Net cash provided by operating activities 593,986 607,705
Cash flows from investing activities:    
Acquisition of RIDEA III, net (770,325)  
Acquisitions of other real estate (477,575) (285,429)
Development of real estate (121,510) (72,334)
Leasing costs and tenant and capital improvements (28,302) (27,458)
Proceeds from sales of real estate, net 8,600 36,897
Contributions to unconsolidated joint ventures (31,512)  
Distributions in excess of earnings from unconsolidated joint ventures 1,994 1,113
Principal repayments on loans receivable 53,081 5,547
Investments in loans receivable and other (276,038) (46,434)
(Increase) decrease in restricted cash (3,481) 2,900
Net cash used in investing activities (1,645,068) (385,198)
Cash flows from financing activities:    
Net borrowings under bank line of credit 186,557 310,000
Borrowings under term loan 333,014  
Issuance of senior unsecured notes 1,338,555 350,000
Repayments of senior unsecured notes (400,000) (487,000)
Repayments of mortgage and other secured debt (20,333) (169,843)
Deferred financing costs (13,272) (9,239)
Issuance of common stock and exercise of options 93,118 56,401
Repurchase of common stock (7,690) (11,086)
Dividends paid on common and preferred stock (521,898) (500,364)
Issuance of noncontrolling interests 3,397 113
Distributions to noncontrolling interests (8,406) (7,980)
Net cash provided by (used in) financing activities 983,042 (468,998)
Effect of foreign exchange on cash and cash equivalents   5
Net increase (decrease) in cash and cash equivalents (68,040) (246,486)
Cash and cash equivalents, beginning of year 183,810 300,556
Cash and cash equivalents, end of year $ 115,770 $ 54,070