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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities:    
Net Income $ 180,062 $ 207,655
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 126,115 119,161
Amortization of debt deferred costs and intangibles, net 2,105 1,953
Impairment loss 15,012 43
Equity in earnings of real estate joint ventures and partnerships, net (17,966) (15,111)
Gain on sale and acquisition of real estate joint venture and partnership interests 0 (46,407)
Gain on sale of property (86,566) (68,298)
Distributions of income from real estate joint ventures and partnerships 1,012 868
Changes in accrued rent and accounts receivable, net (9,526) (5,869)
Changes in unamortized lease costs and other assets, net (15,237) (12,852)
Changes in accounts payable, accrued expenses and other liabilities, net 10,664 18,160
Other, net 4,529 669
Net cash provided by operating activities 210,204 199,972
Cash Flows from Investing Activities:    
Acquisition of real estate and land (1,862) (438,286)
Development and capital improvements (101,438) (78,675)
Proceeds from sale of property and real estate equity investments 216,149 185,651
Change in restricted deposits and mortgage escrows 20,203 (14,653)
Real estate joint ventures and partnerships - Investments (31,053) (49,877)
Real estate joint ventures and partnerships - Distribution of capital 17,430 41,749
Purchase of investments (4,241) (4,740)
Proceeds from investments 4,250 1,250
Other, net 3,118 566
Net cash provided by (used in) investing activities 122,556 (357,015)
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 0 249,999
Principal payments of debt (23,217) (67,848)
Changes in unsecured credit facilities (120,000) (19,500)
Proceeds from issuance of common shares of beneficial interest, net 1,115 137,487
Common share dividends paid (148,286) (138,354)
Debt issuance and extinguishment costs paid (395) (5,230)
Distributions to noncontrolling interests (16,752) (6,252)
Other, net (2,236) (5,661)
Net cash (used in) provided by financing activities (309,771) 144,641
Net increase (decrease) in cash and cash equivalents 22,989 (12,402)
Cash and cash equivalents at January 1 16,257 [1] 22,168
Cash and cash equivalents at September 30 39,246 [1] 9,766
Interest paid during the period (net of amount capitalized of $3,314 and $1,762, respectively) 63,564 60,379
Income taxes paid during the period $ 1,009 $ 930
[1] Consolidated variable interest entities' assets and debt included in the above balances (see Note 15) at September 30, 2017 and December 31, 2016 are Property, net of $210,184 and $476,117; Accrued Rent and Accounts Receivable, net of $11,385 and $11,066; Cash and Cash Equivalents of $8,457 and $9,560; Debt, net of $46,473 and $47,112.