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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 935,197 $ 295,983 $ 382,029
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 663,616 673,403 600,375
Amortization of deferred financing costs 17,846 10,406 13,127
Amortization of discounts on investment securities 0 0 (1,661)
Amortization of discounts and premiums on debt (1,478) (471) 5,857
Amortization of deferred settlements on derivative instruments 3,808 2,804 2,228
Impairment 0 45,380 11,124
Write-off of pursuit costs 5,075 5,272 4,838
Income from technology investments (4,537) 0 0
Loss from investments in unconsolidated entities 0 735 2,815
Distributions from unconsolidated entities - return on capital 319 61 153
Net (gain) on sales of investment securities 0 0 (4,943)
Net (gain) on sales of unconsolidated entities 0 (28,101) (10,689)
Net (gain) loss on sales of land parcels (4,217) 1,395 0
Net (gain) on sales of discontinued operations (826,489) (297,956) (335,299)
(Loss) on debt extinguishments 0 2,457 17,525
Unrealized loss (gain) on derivative instruments 186 1 (3)
Compensation paid with Company Common Shares 21,177 18,875 17,843
Changes in assets and liabilities:      
Decrease in deposits - restricted 4,523 3,316 3,117
(Increase) decrease in other assets (2,743) (9,048) 11,768
Increase (decrease) in accounts payable and accrued expenses 332 (5,454) (34,524)
(Decrease) in accrued interest payable (10,510) (4,000) (11,997)
(Decrease) increase in other liabilities (8,245) 9,972 2,220
Increase (decrease) in security deposits 4,474 1,007 (5,091)
Net cash provided by operating activities 798,334 726,037 670,812
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in real estate - acquisitions (1,441,599) (1,189,210) (175,531)
Investment in real estate - development/other (120,741) (131,301) (330,623)
Improvements to real estate (144,452) (138,208) (123,937)
Additions to non-real estate property (7,110) (2,991) (2,028)
Interest capitalized for real estate under development 9,108 13,008 34,859
Proceeds from disposition of real estate, net 1,500,583 672,700 887,055
Investments in unconsolidated entities (2,021) 0 0
Distributions from unconsolidated entities – return of capital 0 26,924 6,521
Purchase of investment securities 0 0 (77,822)
Proceeds from sale of investment securities 0 25,000 215,753
Proceeds from technology investments 4,537 0 0
Decrease (increase) in deposits on real estate acquisitions and investments, net 7,631 137,106 (250,257)
Decrease in mortgage deposits 1,901 4,699 2,437
Consolidation of previously unconsolidated properties 0 (26,854) 0
Deconsolidation of previously consolidated properties 28,360 11,708 0
Acquisition of Noncontrolling Interests - Partially Owned Properties (12,809) (16,023) (11,480)
Net cash (used for) provided by investing activities (194,828) (639,458) 105,229
CASH FLOWS FROM FINANCING ACTIVITIES:      
Loan and bond acquisition costs (20,421) (8,811) (9,291)
Mortgage notes payable:      
Proceeds 190,905 173,561 738,798
Restricted cash 16,596 73,232 46,664
Lump sum payoffs (974,956) (635,285) (939,022)
Scheduled principal repayments (16,726) (16,769) (17,763)
(Loss) gain on debt extinguishments 0 (2,457) 2,400
Notes, net:      
Proceeds 996,190 595,422 0
Lump sum payoffs (575,641) 0 (850,115)
(Loss) gain on debt extinguishments 0 0 (19,925)
Lines of credit:      
Proceeds 1,455,000 5,513,125 0
Repayments (1,455,000) (5,513,125) 0
(Payments on) proceeds from settlement of derivative instruments (147,306) (10,040) 11,253
Proceeds from sale of Common Shares 173,484 329,452 86,184
Proceeds from Employee Share Purchase Plan (ESPP) 5,262 5,112 5,292
Proceeds from exercise of options 95,322 71,596 9,136
Common Shares repurchased and retired 0 (1,887) (1,124)
Redemption of Preferred Shares 0 (877) 0
Payment of offering costs (3,596) (4,657) (2,536)
Other financing activities, net (48) (48) (16)
Contributions - Noncontrolling Interests - Partially Owned Properties 75,911 222 893
Contributions - Noncontrolling Interests - Operating Partnership 0 0 78
Distributions:      
Common Shares (432,023) (379,969) (488,604)
Preferred Shares (12,829) (14,471) (14,479)
Preference Interests and Units 0 0 (12)
Noncontrolling Interests – Operating Partnership (20,002) (18,867) (28,935)
Noncontrolling Interests - Partially Owned Properties (1,115) (2,918) (2,423)
Net cash (used for) provided by financing activities (650,993) 151,541 (1,473,547)
Net (decrease) increase in cash and cash equivalents (47,487) 238,120 (697,506)
Cash and cash equivalents, beginning of year 431,408 193,288 890,794
Cash and cash equivalents, end of year 383,921 431,408 193,288
SUPPLEMENTAL INFORMATION:      
Cash paid for interest, net of amounts capitalized 477,434 475,374 508,847
Net cash (received) paid for income and other taxes 645 (2,740) 3,968
Real estate acquisitions/dispositions/other:      
Mortgage loans assumed 158,240 359,082 0
Valuation of OP Units issued 0 8,245 1,034
Mortgage loans (assumed) by purchaser 0 (39,999) (17,313)
Amortization of deferred financing costs:      
Investment in real estate, net 0 (2,768) (3,585)
Deferred financing costs, net 17,846 13,174 16,712
Amortization of discounts and premiums on debt:      
Investment in real estate, net 0 0 (3)
Mortgage notes payable (8,260) (9,208) (6,097)
Notes, net 6,782 8,737 11,957
Amortization of deferred settlements on derivative instruments:      
Other liabilities (535) (534) (1,496)
Losses reclassified into earnings from other comprehensive income 4,343 3,338 3,724
Unrealized loss (gain) on derivative instruments:      
Other assets 6,826 13,019 (33,261)
Mortgage notes payable (612) (163) (1,887)
Notes, net (2,937) 7,497 719
Other liabilities 140,507 45,542 (3,250)
Accumulated other comprehensive (loss) income (143,598) (65,894) 37,676
Interest capitalized for real estate and unconsolidated entities under development:      
Investment in real estate, net (8,785) (13,008) (34,859)
Investment in unconsolidated entities (323) 0 0
Consolidation of previously unconsolidated properties:      
Investment in real estate, net 0 (105,065) 0
Investments in unconsolidated entities 0 7,376 0
Deposits - restricted 0 (42,633) 0
Mortgage notes payable 0 112,631 0
Net other assets recorded 0 837 0
Deconsolidation of previously consolidated properties:      
Investments in unconsolidated entities (7,135) (3,167) 0
Investment in real estate, net 35,495 14,875 0
(Payments on) proceeds from settlement of derivative instruments:      
Other assets 0 0 11,253
Other liabilities (147,306) (10,040) 0
Other:      
Transfer from notes, net to mortgage notes payable 0 35,600 0
Receivable on sale of Common Shares $ 0 $ 37,550 $ 0