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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net Income$ 39,648$ 42,154
Adjustments to reconcile net income to net cash provided by operating activities:  
Gain on sale of real estate(5,051)0
Gain on sale of marketable securities(4,543)(9,041)
Loss on early retirement of debt82010
Equity loss in co-investments excluding gain on sales of real estate7,0101,027
Gain on sales of co-investments(919)0
Amortization of discount on exchangeable bonds058
Amortization of discount on marketable securities(3,492)(2,853)
Amortization of deferred interest from settlement of swaps6,5170
Amortization of discount on notes receivables(1,316)(3,435)
Depreciation112,67893,385
Amortization of deferred financing costs2,2012,437
Stock-based compensation1,6182,360
Prepaid expenses and other assets(1,720)1,450
Accounts payable and accrued liabilities18,20519,018
Other liabilities1,1661,714
Net cash provided by used in Operating activities172,822148,284
Additions to real estate:  
Acquisitions(43,328)(96,596)
Improvements to recent acquisitions(14,768)(2,266)
Redevelopment expenditures(26,929)(8,966)
Revenue generating capital expenditures(4,706)(788)
Non-revenue generating capital expenditures(13,946)(19,169)
Dispositions of real estate15,9720
Additions to real estate under development(72,816)(110,972)
Changes in restricted cash and refundable deposits(1,165)(3,046)
Purchases of marketable securities(8,048)(18,294)
Sales and maturities of marketable securities27,99765,889
Purchases of and advances under notes and other receivables0(21,026)
Collections of notes and other receivables6431,832
Contributions to co-investments(121,450)(78,513)
Distributions from co-investments1,90440,397
Net cash used in investing activities(260,640)(251,518)
Cash flows from financing activities:  
Borrowings under mortgage notes payable, lines of credit and bonds872,042616,385
Repayment under mortgage notes payable, lines of credit and bonds(891,734)(487,152)
Additions to deferred charges(4,464)(1,832)
Retirement of exchangeable bonds0(1,842)
Settlement of forward-starting swaps(2,395)(16,667)
Net proceeds from stock options exercised6,7143,108
Net proceeds from issuance of Series H preferred stock71,2090
Redemption of Series F preferred stock(25,000)0
Retirement of Series B preferred units(78,800)0
Net proceeds from issuance of common stock257,008116,641
Equity related issuance costs(765)0
Contributions from noncontrolling interest03,990
Distributions to noncontrolling interest(13,295)(19,694)
Redemptions of noncontrolling interest(4,645)(23,745)
Common and preferred stock dividends paid(102,790)(91,950)
Net cash provided by financing activities83,08597,242
Net decrease in cash and cash equivalents(4,733)(5,992)
Cash and cash equivalents at beginning of period13,75320,660
Cash and cash equivalents at end of period9,02014,668
Supplemental disclosure of cash flow information:  
Cash paid for interest, net of $6.9 million and $7.3 million capitalized in 2011 and 2010, respectively66,62961,595
Supplemental disclosure of noncash investing and financing activities:  
Change in accrual of dividends2,6101,397
Change in value of derivative liabilities1,76024,945
Change in unrealized gain of marketable securities2,2833,208
Mortgage notes assumed in connection with purchase of real estate including the loan premiums recorded20,92787,540
Non-cash contribution from noncontrolling interest8000
Change in construction payable1,566714
Transfer of real estate under development to rental properties86,9950
Transfer of real estate under development to co-investments$ 54,472$ 0