XML 50 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income (loss) $ 50,931 $ (17,992)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 135,809 130,236
Amortization of deferred leasing and other costs 59,285 35,937
Amortization of deferred financing costs 7,351 7,092
Straight-line rent adjustment (11,887) (9,083)
Impairment charges   7,974
Loss on debt extinguishment   16,127
Earnings from land and depreciated property sales (82,664) (19,898)
Third-party construction contracts, net (25,658) (17,407)
Other accrued revenues and expenses, net 263 12,815
Operating distributions received in excess of equity in earnings from unconsolidated companies 10,862 2,597
Net cash provided by operating activities 144,292 148,398
Cash flows from investing activities:    
Development of real estate investments (78,645) (56,762)
Acquisition of real estate investments and related intangible assets, net of cash acquired (99,817) (19,205)
Acquisition of undeveloped land   (4,706)
Second generation tenant improvements, leasing costs and building improvements (41,284) (34,805)
Other deferred leasing costs (13,807) (16,752)
Other assets 3,149 (28,699)
Proceeds from land and depreciated property sales, net 498,249 151,835
Capital distributions from unconsolidated companies 54,730 3,897
Capital contributions and advances to unconsolidated companies, net (16,917) (16,577)
Net cash provided by (used for) investing activities 305,658 (21,774)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net   298,148
Payments for repurchases of preferred shares (2,096) (58,304)
Proceeds from unsecured debt issuance   250,000
Payments on and repurchases of unsecured debt (43,377) (387,860)
Proceeds from secured debt financings   4,160
Payments on secured indebtedness including principal amortization (7,968) (5,317)
Borrowings (payments) on lines of credit, net (174,717) 313
Distributions to common shareholders (85,843) (76,259)
Distributions to preferred shareholders (31,948) (36,726)
Distributions to noncontrolling interests (2,398) (3,866)
Deferred financing costs (2,342) (1,970)
Net cash used for financing activities (350,689) (17,681)
Net increase in cash and cash equivalents 99,261 108,943
Cash and cash equivalents at beginning of period 18,384 147,322
Cash and cash equivalents at end of period 117,645 256,265
Non-cash investing and financing activities:    
Assumption of indebtedness for real estate acquisitions 130,474 4,503
Contribution of properties to unconsolidated companies 52,868 7,002
Conversion of Limited Partner Units to common shares 1,235 (4,335)
Issuance of Limited Partner Units for acquisition $ 28,357