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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities:    
Net Income $ 87,008 $ 101,765
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 72,602 77,514
Amortization of debt deferred costs and intangibles, net 1,310 1,052
Impairment loss 153 0
Equity in earnings of real estate joint ventures and partnerships, net (8,584) (8,450)
Gain on sale and acquisition of real estate joint venture and partnership interests (879) (1,718)
Gain on sale of property (30,685) (46,493)
Distributions of income from real estate joint ventures and partnerships, net 1,887 1,503
Changes in accrued rent and accounts receivable, net 2,956 1,345
Changes in unamortized debt and lease costs and other assets, net (8,660) (12,935)
Changes in accounts payable, accrued expenses and other liabilities, net (7,526) (2,412)
Other, net 10,161 1,824
Net cash provided by operating activities 119,743 112,995
Cash Flows from Investing Activities:    
Acquisition of real estate and land (124,914) 0
Development and capital improvements (38,505) (35,774)
Proceeds from sale of property and real estate equity investments, net 48,051 66,768
Change in restricted deposits and mortgage escrows 68,520 (2,209)
Notes receivable from real estate joint ventures and partnerships and other receivables - Collections 0 7,633
Real estate joint ventures and partnerships - Investments (30,053) (5,119)
Real estate joint ventures and partnerships - Distribution of capital 22,653 11,001
Purchase of investments 0 (1,250)
Proceeds from investments 1,000 50,788
Other, net (489) (11,826)
Net cash (used in) provided by investing activities (53,737) 80,012
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 448,083 0
Principal payments of debt (201,845) (334,626)
Changes in unsecured credit facilities (116,000) 152,000
Proceeds from issuance of common shares of beneficial interest, net 42,288 1,137
Redemption of preferred shares of beneficial interest (150,000) 0
Common and preferred dividends paid (89,106) (84,303)
Debt issuance and extinguishment costs paid (9,691) (273)
Distributions to noncontrolling interests (3,938) (3,305)
Contributions from noncontrolling interests 0 980
Other, net 4,313 (158)
Net cash used in financing activities (75,896) (268,548)
Net decrease in cash and cash equivalents (9,890) (75,541)
Cash and cash equivalents at January 1 23,189 [1] 91,576
Cash and cash equivalents at June 30 13,299 [1] 16,035
Interest paid during the period (net of amount capitalized of $1,673 and $1,410, respectively) 38,999 45,429
Income taxes paid during the period $ 1,499 $ 1,705
[1] * Consolidated variable interest entities' assets held as collateral and debt included in the above balances (see Note 16):