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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Net cash flow provided by operating activities:    
Net income (loss) $ 124,997 $ (16,829)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:    
Depreciation and amortization 310,984 214,141
Stock-based compensation 6,706 6,524
Amortization of deferred finance costs 9,597 11,065
Accretion of convertible debt discount 8,476 8,038
Equity in net income of joint ventures (10,241) (5,543)
Impairment of joint venture investments 9,100 0
Net gain on sale and change in control of interests (87,814) (1,066)
Operating cash distributions from joint ventures 6,358 10,533
Realized gain on sale of available-for-sale securities (840) 0
Gain on disposition of real estate (76,932) (7,587)
Impairment charges 26,996 66,795
Change in notes receivable accrued interest (2,583) (3,797)
Change in restricted cash 9,440 530
Net change in accounts receivable 319 3,238
Net change in accounts payable and accrued expenses 14,387 (1,540)
Net change in other operating assets and liabilities (33,525) (7,824)
Total adjustments 190,428 293,507
Net cash flow provided by operating activities 315,425 276,678
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (315,329) (326,661)
Real estate developed and improvements to operating real estate (183,999) (158,909)
Proceeds from disposition of real estate and joint venture interest 773,445 156,654
Equity contributions to joint ventures (4,221) (20,143)
Repayment (issuance) of joint venture advances, net 2,946 (41,000)
Distributions of proceeds from sale and refinancing of joint venture interests 9,600 1,696
Return of investments in joint ventures 7,649 5,479
Purchase of available-for-sale securities 0 (1,800)
Proceeds from sale of available-for-sale securities 1,740 0
Issuance of notes receivable 0 (22,014)
Repayment of notes receivable 341 13,715
Change in restricted cash – capital improvements 18,235 (2,526)
Net cash flow provided by (used for) investing activities 310,407 (395,509)
Cash flow from financing activities:    
Repayments of revolving credit facilities, net (4,390) (104,340)
Proceeds from issuance of senior notes, net of underwriting commissions and offering expenses of $650 in 2013 0 295,591
Proceeds from mortgages and other secured debt 92,063 45,042
Repayment of term loans and mortgage debt (434,074) (112,835)
Payment of debt issuance costs (699) (3,921)
Redemption of preferred shares (55,000) (150,000)
Proceeds from issuance of common shares, net of underwriting commissions and offering expenses of $123 and $473 in 2014 and 2013, respectively 11,698 158,048
Proceeds from issuance of preferred shares, net of underwriting commissions and offering expenses of $412 in 2013 0 144,863
Repurchase of common shares in conjunction with equity award plans (4,161) (4,060)
Contributions from non-controlling interests 93 281
Distributions to non-controlling interests and redeemable operating partnership units (3,982) (1,057)
Dividends paid (179,229) (144,671)
Net cash flow (used for) provided by financing activities (577,681) 122,941
Cash and cash equivalents    
Increase in cash and cash equivalents 48,151 4,110
Effect of exchange rate changes on cash and cash equivalents (495) 67
Cash and cash equivalents, beginning of period 86,664 31,174
Cash and cash equivalents, end of period $ 134,320 $ 35,351