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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net Income $ 146,318 $ 87,008
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77,097 72,602
Amortization of debt deferred costs and intangibles, net 1,305 1,310
Impairment loss 43 153
Equity in earnings of real estate joint ventures and partnerships, net (10,738) (8,584)
Gain on sale and acquisition of real estate joint venture and partnership interests (37,392) (879)
Gain on sale of property (46,190) (30,685)
Distributions of income from real estate joint ventures and partnerships 591 1,887
Changes in accrued rent and accounts receivable, net 2,555 2,956
Changes in unamortized lease costs and other assets, net (10,159) (8,660)
Changes in accounts payable, accrued expenses and other liabilities, net (5,090) (7,526)
Other, net (567) 10,161
Net cash provided by operating activities 117,773 119,743
Cash Flows from Investing Activities:    
Acquisition of real estate and land (92,071) (124,914)
Development and capital improvements (53,441) (38,505)
Proceeds from sale of property and real estate equity investments 108,782 48,051
Change in restricted deposits and mortgage escrows (5,348) 68,520
Real estate joint ventures and partnerships - Investments (42,025) (30,053)
Real estate joint ventures and partnerships - Distribution of capital 34,224 22,653
Purchase of investments (3,247) 0
Proceeds from investments 750 1,000
Other, net 2,518 (489)
Net cash used in investing activities (49,858) (53,737)
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 2,111 448,083
Principal payments of debt (58,275) (201,845)
Changes in unsecured credit facilities (51,500) (116,000)
Proceeds from issuance of common shares of beneficial interest, net 127,965 42,288
Redemption of preferred shares of beneficial interest 0 (150,000)
Common and preferred dividends paid (91,675) (89,106)
Debt issuance and extinguishment costs paid (3,114) (9,691)
Distributions to noncontrolling interests (3,493) (3,938)
Other, net 2,427 4,313
Net cash used in financing activities (75,554) (75,896)
Net decrease in cash and cash equivalents (7,639) (9,890)
Cash and cash equivalents at January 1 22,168 [1] 23,189
Cash and cash equivalents at June 30 14,529 [1] 13,299
Interest paid during the period (net of amount capitalized of $1,137 and $1,673, respectively) 40,413 38,999
Income taxes paid during the period $ 925 $ 1,499
[1] * Consolidated variable interest entities' assets and debt included in the above balances (see Note 15):