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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,960,231 $ 488,842
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 349,012 388,803
Amortization of deferred financing costs 7,739 5,127
Amortization of above/below market leases 1,708 1,691
Amortization of discounts and premiums on debt (19,010) (5,611)
Amortization of deferred settlements on derivative instruments 32,850 8,751
Write-off of pursuit costs 2,563 1,651
Loss (income) from investments in unconsolidated entities 1,904 (15,429)
Distributions from unconsolidated entities – return on capital 1,482 2,193
Net (gain) on sales of investment securities and other investments (55,156) (387)
Net (gain) on sales of real estate properties (3,780,835) (228,753)
Net (gain) loss on sales of land parcels (11,722) 1
Net (gain) on sales of discontinued operations (15) 0
Realized/unrealized loss on derivative instruments 0 51
Compensation paid with Company Common Shares 20,729 24,017
Changes in assets and liabilities:    
Decrease (increase) in deposits – restricted 9,121 (288)
(Increase) in mortgage deposits (840) (382)
Decrease (increase) in other assets 29,944 (4,553)
Increase in accounts payable and accrued expenses 7,837 22,350
(Decrease) in accrued interest payable (27,046) (2,409)
(Decrease) in other liabilities (42,080) (11,097)
(Decrease) increase in security deposits (13,340) 479
Net cash provided by operating activities 475,076 675,047
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (160,680) (136,995)
Investment in real estate – development/other (312,853) (324,343)
Capital expenditures to real estate (74,450) (81,962)
Non-real estate capital additions (3,259) (1,955)
Interest capitalized for real estate under development (28,386) (30,432)
Proceeds from disposition of real estate, net 6,415,181 379,863
Investments in unconsolidated entities (1,829) (4,786)
Distributions from unconsolidated entities – return of capital 524 26,147
Proceeds from sale of investment securities and other investments 68,528 387
(Increase) in deposits on real estate acquisitions and investments, net (30,815) (31,247)
Decrease (increase) in mortgage deposits 46 (226)
Net cash provided by (used for) investing activities 5,872,007 (205,549)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (437) (6,352)
Mortgage deposits (3,971) (4,169)
Mortgage notes payable, net:    
Lump sum payoffs (556,499) (121,488)
Scheduled principal repayments (4,740) (5,028)
Notes, net:    
Proceeds 0 746,391
Lump sum payoffs (1,500,000) (300,000)
Line of credit and commercial paper:    
Line of credit proceeds 246,000 3,553,000
Line of credit repayments (246,000) (3,886,000)
Commercial paper proceeds 1,324,784 2,266,924
Commercial paper repayments (1,712,472) (2,267,500)
(Payments on) settlement of derivative instruments 0 (13,938)
Proceeds from Employee Share Purchase Plan (ESPP) 2,023 2,610
Proceeds from exercise of options 26,141 33,984
Redemption of Preferred Shares 0 (9,820)
Premium on redemption of Preferred Shares 0 (2,789)
Payment of offering costs 0 (40)
Other financing activities, net (33) (33)
Contributions – Noncontrolling Interests – Operating Partnership 1 1
Distributions:    
Common Shares (3,306,704) (382,441)
Preferred Shares (1,545) (1,724)
Noncontrolling Interests – Operating Partnership (130,383) (15,062)
Noncontrolling Interests – Partially Owned Properties (27,681) (3,995)
Net cash (used for) financing activities (5,891,516) (417,469)
Net increase in cash and cash equivalents 455,567 52,029
Cash and cash equivalents, beginning of period 42,276 40,080
Cash and cash equivalents, end of period 497,843 92,109
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 313,480 218,965
Net cash paid for income and other taxes 1,166 895
Real estate acquisitions/dispositions/other:    
Mortgage loans assumed 43,400 0
Amortization of deferred financing costs:    
Other assets 1,527 1,527
Mortgage notes payable, net 2,617 1,607
Notes, net 3,595 1,993
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net (21,476) (7,420)
Notes, net 2,054 1,233
Line of credit and commercial paper 412 576
Amortization of deferred settlements on derivative instruments:    
Other liabilities (72) (160)
Accumulated other comprehensive income 32,922 8,911
Write-off of pursuit costs:    
Investment in real estate, net 2,072 1,260
Deposits – restricted 0 330
Other assets 390 61
Accounts payable and accrued expenses 101 0
Loss (income) from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,122 (16,767)
Other liabilities 782 1,338
Distributions from unconsolidated entities – return on capital:    
Investments in unconsolidated entities 1,482 2,125
Other liabilities 0 68
Realized/unrealized loss on derivative instruments:    
Other assets (8,390) (3,873)
Notes, net 8,390 2,358
Other liabilities 4,467 1,678
Unrealized holding (losses) gains arising during the period (4,467) (112)
Investments in unconsolidated entities:    
Investments in unconsolidated entities (929) (1,291)
Other liabilities (900) (3,495)
Debt financing costs:    
Mortgage notes payable, net (437) 0
Notes, net 0 (6,352)
Other:    
Foreign currency translation adjustments $ (50) $ 502