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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net Income $ 105,589 $ 146,318
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 84,606 77,097
Amortization of debt deferred costs and intangibles, net 1,421 1,305
Impairment loss 15,012 43
Equity in earnings of real estate joint ventures and partnerships, net (12,747) (10,738)
Gain on sale and acquisition of real estate joint venture and partnership interests 0 (37,392)
Gain on sale of property (47,987) (46,190)
Distributions of income from real estate joint ventures and partnerships 667 591
Changes in accrued rent and accounts receivable, net 2,838 2,555
Changes in unamortized lease costs and other assets, net (12,241) (10,159)
Changes in accounts payable, accrued expenses and other liabilities, net (7,126) 863
Other, net 2,906 (567)
Net cash provided by operating activities 132,938 123,726
Cash Flows from Investing Activities:    
Acquisition of real estate and land (570) (92,071)
Development and capital improvements (72,908) (53,441)
Proceeds from sale of property and real estate equity investments 109,167 108,782
Change in restricted deposits and mortgage escrows 19,211 (5,348)
Real estate joint ventures and partnerships - Investments (27,875) (42,025)
Real estate joint ventures and partnerships - Distribution of capital 12,467 34,224
Purchase of investments (3,491) (3,247)
Proceeds from investments 4,000 750
Other, net (791) 2,518
Net cash provided by (used in) investing activities 39,210 (49,858)
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 0 2,111
Principal payments of debt (21,308) (58,275)
Changes in unsecured credit facilities (44,440) (51,500)
Proceeds from issuance of common shares of beneficial interest, net 985 127,965
Common share dividends paid (98,844) (91,675)
Debt issuance and extinguishment costs paid (341) (3,114)
Distributions to noncontrolling interests (15,799) (3,493)
Other, net (2,001) (3,526)
Net cash used in financing activities (181,748) (81,507)
Net decrease in cash and cash equivalents (9,600) (7,639)
Cash and cash equivalents at January 1 16,257 [1] 22,168
Cash and cash equivalents at June 30 6,657 [1] 14,529
Interest paid during the period (net of amount capitalized of $1,903 and $1,137, respectively) 40,852 40,413
Income taxes paid during the period $ 1,009 $ 925
[1] Consolidated variable interest entities' assets held as collateral and debt included in the above balances at March 31, 2017 and December 31, 2016 are Property, net of $216,223 and $476,117; Accrued Rent and Accounts Receivable, net of $9,723 and $11,066; Cash and Cash Equivalents of $7,797 and $9,560; Debt, net of $46,902 and $47,112.