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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 123,995 $ 30,983
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 27,561 23,171
Amortization of financing costs 1,546 1,468
Gain on disposition of properties (88,984) (13,508)
Impairment of asset 5,000 0
Share compensation expense 3,746 3,833
Equity in earnings of unconsolidated affiliates (9,999) (4,459)
Gain on disposition of property of unconsolidated affiliates (17,105) 0
Distributions of operating income from unconsolidated affiliates 10,035 5,550
Other, net (2,645) (1,737)
Changes in assets and liabilities    
Cash in escrow (11,505) (5,691)
Rents receivable, net (2,401) (834)
Prepaid expenses and other assets 7,928 7,570
Accounts payable and accrued expenses 3,828 597
Other liabilities 2,751 (941)
Net cash provided by operating activities 53,751 46,002
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of real estate (273,071) (107,600)
Redevelopment and property improvement costs (105,245) (68,311)
Deferred leasing costs (4,274) (1,224)
Investments in and advances to unconsolidated affiliates (6,505) (28,100)
Return of capital from unconsolidated affiliates 5,660 24,326
Proceeds from disposition of property of unconsolidated affiliates 25,604 0
Proceeds from notes receivable 0 11,990
Issuance of notes receivable (48,200) (19,362)
Proceeds from sale of properties, net 197,882 19,158
Net cash used in investing activities (208,149) (169,123)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgage and other notes (188,166) (132,452)
Proceeds received from mortgage and other notes 268,761 189,700
Loan proceeds held as restricted cash 30,324 38,513
Deferred financing and other costs (2,746) (2,033)
Capital contributions from noncontrolling interests 30,134 31,046
Distributions to noncontrolling interests (64,648) (56,730)
Dividends paid to Common Shareholders (53,270) (25,814)
Proceeds from issuance of Common Shares, net of issuance costs of $522 and $1,495, respectively 21,080 88,499
Net cash provided by financing activities 41,469 130,729
(Decrease) increase in cash and cash equivalents (112,929) 7,608
Cash and cash equivalents, beginning of period 217,580 79,189
Cash and cash equivalents, end of period 104,651 86,797
Supplemental disclosure of cash flow information    
Cash paid during the period for interest, net of capitalized interest of $7,465 and $6,095, respectively 22,735 23,486
Cash paid for income taxes 1,573 316
Supplemental disclosure of non-cash investing activities    
Acquisition of real estate through assumption of debt 90,765 0
Disposition of real estate through cancellation of debt 0 (22,865)
Acquisition of real estate through conversion of notes receivable 6,886 38,000
Acquisition of real estate through assumption of restricted cash 28,192 0
Disposition of air rights through issuance of notes receivable $ (29,793) $ 0