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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 354,101 $ 3,960,231
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 358,864 349,012
Amortization of deferred financing costs 4,383 7,739
Amortization of above/below market leases 1,717 1,708
Amortization of discounts and premiums on debt 3,359 (19,010)
Amortization of deferred settlements on derivative instruments 9,246 32,850
Write-off of pursuit costs 1,546 2,563
Loss from investments in unconsolidated entities 1,755 1,904
Distributions from unconsolidated entities – return on capital 1,345 1,482
Net (gain) on sales of investment securities and other investments   (55,156)
Net (gain) on sales of real estate properties (124,433) (3,780,835)
Net (gain) on sales of land parcels (19,170) (11,722)
Net (gain) on sales of discontinued operations   (15)
Compensation paid with Company Common Shares 15,027 20,729
Changes in assets and liabilities:    
Decrease in deposits – restricted 310 9,121
Decrease (increase) in mortgage deposits 900 (840)
(Increase) decrease in other assets (39,845) 29,944
Increase in accounts payable and accrued expenses 24,503 7,837
(Decrease) in accrued interest payable (12,123) (27,046)
(Decrease) in other liabilities (32,476) (42,080)
Increase (decrease) in security deposits 1,024 (13,340)
Net cash provided by operating activities 550,033 475,076
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (57,066) (160,680)
Investment in real estate – development/other (175,887) (312,853)
Capital expenditures to real estate (89,297) (74,450)
Non-real estate capital additions (654) (3,259)
Interest capitalized for real estate under development (16,626) (28,386)
Proceeds from disposition of real estate, net 297,298 6,415,181
Investments in unconsolidated entities (2,488) (1,829)
Distributions from unconsolidated entities – return of capital 113 524
Proceeds from sale of investment securities and other investments   68,528
(Increase) in deposits on real estate acquisitions and investments, net (177,742) (30,815)
(Increase) decrease in mortgage deposits (4,108) 46
Net cash (used for) provided by investing activities (226,457) 5,872,007
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (2) (437)
Mortgage deposits 47,127 (3,971)
Mortgage notes payable, net:    
Lump sum payoffs (370,420) (556,499)
Scheduled principal repayments (6,971) (4,740)
Notes, net:    
Lump sum payoffs (394,077) (1,500,000)
Line of credit and commercial paper:    
Line of credit proceeds 890,000 246,000
Line of credit repayments (625,000) (246,000)
Commercial paper proceeds 2,608,895 1,324,784
Commercial paper repayments (2,131,500) (1,712,472)
Proceeds from Employee Share Purchase Plan (ESPP) 2,111 2,023
Proceeds from exercise of options 8,143 26,141
Payment of offering costs (36)  
Other financing activities, net (40) (33)
Contributions – Noncontrolling Interests – Partially Owned Properties 125  
Contributions – Noncontrolling Interests – Operating Partnership   1
Distributions:    
Common Shares (369,244) (3,306,704)
Preferred Shares (2,318) (1,545)
Noncontrolling Interests – Operating Partnership (13,913) (130,383)
Noncontrolling Interests – Partially Owned Properties (5,944) (27,681)
Net cash (used for) financing activities (363,064) (5,891,516)
Net (decrease) increase in cash and cash equivalents (39,488) 455,567
Cash and cash equivalents, beginning of period 77,207 42,276
Cash and cash equivalents, end of period 37,719 497,843
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 197,336 313,480
Net cash paid for income and other taxes 624 1,166
Real estate acquisitions/dispositions/other:    
Mortgage loans assumed   43,400
Amortization of deferred financing costs:    
Other assets 1,206 1,527
Mortgage notes payable, net 1,378 2,617
Notes, net 1,799 3,595
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 195 (21,476)
Notes, net 1,196 2,054
Line of credit and commercial paper 1,968 412
Amortization of deferred settlements on derivative instruments:    
Other liabilities (5) (72)
Accumulated other comprehensive income 9,251 32,922
Write-off of pursuit costs:    
Investment in real estate, net 1,505 2,072
Other assets 21 390
Accounts payable and accrued expenses 20 101
Loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,025 1,122
Other liabilities 730 782
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (2,877) (8,390)
Notes, net (630) 8,390
Other liabilities   4,467
Accumulated other comprehensive income 3,507 (4,467)
Investments in unconsolidated entities:    
Investments in unconsolidated entities (1,588) (929)
Other liabilities (900) (900)
Debt financing costs:    
Mortgage notes payable, net   (437)
Notes, net $ (2)  
Other:    
Foreign currency translation adjustments   $ (50)