XML 39 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flow from operating activities:    
Net income $ 95,860 $ 70,508
Depreciation and amortization 61,666 62,773
Impairment charges 6,893 3,229
Gain on sale of operating properties (9,337) (3,577)
Equity in income of joint ventures, net (53,261) (24,111)
Gains on change in control of interests (3,744) (23,170)
Equity in income from other real estate investments, net (3,353) (11,163)
Distributions from joint ventures and other real estate investments 68,691 43,321
Change in accounts and notes receivable 5,799 7,030
Change in accounts payable and accrued expenses 12,340 18,277
Change in other operating assets and liabilities (41) 6,768
Net cash flow provided by operating activities 181,513 149,885
Cash flow from investing activities:    
Acquisition of operating real estate (95,321) (64,717)
Improvements to operating real estate (21,990) (18,559)
Improvements to real estate under development (62) (110)
Investment in marketable securities (4,556) (33,588)
Proceeds from sale/repayments of marketable securities 219 164
Investments and advances to real estate joint ventures (18,988) (41,153)
Reimbursements of investments and advances to real estate joint ventures 53,660 20,958
Investment in other real estate investments (318) (22,818)
Reimbursements of investments and advances to other real estate investments 3,245 1,050
Investment in mortgage loans receivable   (5,057)
Collection of mortgage loans receivable 6,949 6,022
Investment in other investments   (21,366)
Reimbursements of other investments   463
Proceeds from sale of operating properties 71,336 17,114
Net cash flow used for investing activities (5,826) (161,597)
Cash flow from financing activities:    
Principal payments on debt, excluding normal amortization of rental property debt (72,839) (16,538)
Principal payments on rental property debt (5,690) (6,281)
Proceeds from mortgage loan financings   5,374
Proceeds under unsecured revolving credit facility, net 132,288 250,000
Proceeds from issuance of unsecured term loan/notes   78,118
Repayments under unsecured term loan/notes   (178,309)
Financing origination costs (5,844) (1,159)
Redemption of/distributions to noncontrolling interests   (2,502)
Dividends paid (106,762) (97,744)
Proceeds from issuance of stock 3,303 5,772
Net cash flow (used for) provided by financing activities (55,544) 36,731
Change in cash and cash equivalents 120,143 25,019
Cash and cash equivalents, beginning of period 148,768 141,875
Cash and cash equivalents, end of period 268,911 166,894
Interest paid during the period (net of capitalized interest of $297 and $219, respectively) 30,979 37,425
Income taxes paid during the period $ 9,567 $ 111