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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 142,099 $ 142,055
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 45,022 36,055
Amortization of financing costs 2,577 2,214
Gain on disposition of properties (89,063) (13,698)
Impairment of asset 5,000 0
Share compensation expense 5,669 5,542
Equity in earnings of unconsolidated affiliates (12,194) (7,382)
Gain on disposition of property of unconsolidated affiliates (24,043) (102,855)
Distributions of operating income from unconsolidated affiliates 11,747 7,780
Other, net (5,103) (2,106)
Changes in assets and liabilities    
Cash in escrow (6,757) (7,148)
Rents receivable, net (2,454) (3,707)
Prepaid expenses and other assets 1,901 430
Accounts payable and accrued expenses 7,738 4,209
Other liabilities 3,203 295
Net cash provided by operating activities 85,342 61,684
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of real estate (292,671) (136,978)
Redevelopment and property improvement costs (159,360) (105,049)
Deferred leasing costs (5,931) (2,654)
Investments in and advances to unconsolidated affiliates (10,581) (59,529)
Return of capital from unconsolidated affiliates 9,574 30,604
Proceeds from disposition of property of unconsolidated affiliates 38,392 188,870
Proceeds from notes receivable 15,984 18,095
Issuance of notes receivable (48,350) (23,519)
Proceeds from sale of properties, net 198,434 31,188
Net cash used in investing activities (254,509) (58,972)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgage and other notes (92,468) (50,584)
Principal payments on unsecured debt (174,815) (83,750)
Proceeds received from mortgage and other notes 85,859 146,600
Proceeds received from unsecured debt 253,200 82,400
Loan proceeds held as restricted cash 43,315 60,514
Deferred financing and other costs (3,155) (2,120)
Capital contributions from noncontrolling interests 34,895 35,317
Distributions to noncontrolling interests (79,575) (213,496)
Dividends paid to Common Shareholders (69,788) (39,399)
Proceeds from issuance of Common Shares, net of issuance costs of $655 and $1,818, respectively 26,933 113,749
Net cash provided by financing activities 24,401 49,231
(Decrease) increase in cash and cash equivalents (144,766) 51,943
Cash and cash equivalents, beginning of period 217,580 79,189
Cash and cash equivalents, end of period 72,814 131,132
Supplemental disclosure of cash flow information    
Cash paid during the period for interest, net of capitalized interest of $11,847 and $9,250, respectively 34,146 34,935
Cash paid for income taxes 2,543 316
Supplemental disclosure of non-cash investing activities    
Acquisition of real estate through assumption of debt 90,765 29,794
Disposition of real estate through cancellation of debt 0 (22,865)
Acquisition of real estate through issuance of OP Units 0 38,937
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 $ (29,539) $ 0