XML 67 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities      
Net income $ 293,900 $ 59,961 $ 31,142
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization, including discontinued operations 209,872 181,791 174,465
Gain on acquisition of controlling interest in joint ventures (57,418) 0 0
Gain on sale of discontinued operations, net of tax (115,068) (24,621) (9,614)
Gain on sale of properties, including land 0 (4,748) (236)
Gain on sale of unconsolidated joint venture interests 0 (1,136) 0
Gain on sale of available-for-sale investment 0 (4,301) 0
Loss on discontinuation of hedging relationship 0 29,791 0
Impairment provision on technology investment 0 0 1,000
Distributions of income from joint ventures 6,321 5,329 6,524
Equity in (income) loss of joint ventures (20,175) [1] (5,679) [1] 839 [1]
Share-based compensation 13,086 12,039 11,306
Amortization of deferred financing costs 3,608 5,877 4,102
Net change in operating accounts (9,859) (9,469) 4,508
Net cash from operating activities 324,267 244,834 224,036
Cash flows from investing activities      
Development and capital improvements (290,728) (227,755) (63,739)
Acquisition of operating properties, including joint venture interests, net of cash acquired (465,400) 0 0
Proceeds from sale of properties, including land and discontinued operations 226,869 57,312 102,819
Proceeds from sale of joint venture interests 0 19,310 0
Proceeds from sale of available-for-sale investment 0 4,510 0
Decrease in notes receivable - affiliates 0 3,279 637
Investments in joint ventures (7,006) (46,037) (6,467)
Distributions of investments from joint ventures 17,417 6,005 28
Other (8,837) (3,988) 1,872
Net cash from investing activities (527,685) (187,364) 35,150
Cash flows from financing activities      
Borrowings on unsecured line of credit 603,000 8,000 37,000
Repayments on unsecured line of credit (603,000) (8,000) (37,000)
Repayment of notes payable (567,575) (627,623) (306,692)
Proceeds from notes payable 346,308 495,705 57,748
Proceeds from issuance of common shares 693,355 106,571 231,651
Redemption of perpetual preferred units (100,000) 0 0
Distributions to common shareholders, perpetual preferred units, and non-controlling interests (189,018) (152,242) (135,626)
Purchase of non-controlling interests (16,482) 0 0
Payment of deferred financing costs (3,737) (9,288) (6,564)
Common share options exercised 13,038 11,397 1,435
Net (increase) decrease in accounts receivable - affiliates (2,586) 860 4,217
Other 1,625 1,734 1,064
Net cash from financing activities 174,928 (172,886) (152,767)
Net increase (decrease) in cash and cash equivalents (28,490) (115,416) 106,419
Cash and cash equivalents, beginning of period 55,159 170,575 64,156
Cash and cash equivalents, end of period 26,669 55,159 170,575
Supplemental information      
Cash paid for interest, net of interest capitalized 106,405 114,615 128,742
Cash paid for income taxes 1,561 2,664 1,169
Supplemental schedule of non-cash investing and financing activities      
Distributions declared but not paid 49,969 39,364 35,295
Value of shares issued under benefit plans, net of cancellations 20,933 18,629 14,401
Conversion of operating partnership units to common shares 9,143 592 3,536
Accrual associated with construction and capital expenditures 18,993 16,754 6,590
Conversion of mezzanine notes to joint venture equity 0 0 43,279
Change of fair value of available-for-sale investments, net of tax 0 0 3,306
Acquisition of operating properties, including joint venture interests:      
Real estate assets 0 0 238,885
In-place leases 0 0 4,962
Other assets 0 0 1,135
Mortgage debt assumed 298,807 0 188,119
Other liabilities $ 6,976 $ 0 $ 3,197
[1] (3)Equity in income (loss) excludes our ownership interest of fee income from various property management services and interest income from mezzanine loans with our joint ventures.