XML 24 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Parent Company [Member]    
Cash flows from operating activities:    
Consolidated net income $ 182,344 $ 305,378
Adjustments to reconcile net income to net cash provided by operating activities:    
Retail revenue accretion (130) (952)
Depreciation and amortization 228,073 220,941
Stock compensation expense 5,977 4,438
Redeemable stock issued 412 741
Amortization of debt premium (7,546) (12,755)
(Gain) loss from investments in real estate joint ventures (27) 6
Loss on debt extinguishment 0 2,788
Derivative interest (credit) expense (1,883) (1,567)
Gain on sale of non-depreciable real estate assets (2,170) (172)
Gain on sale of depreciable real estate assets excluded from discontinued operations (48,572) (190,031)
Net casualty loss and other settlement proceeds (738) (485)
Changes in assets and liabilities:    
Restricted cash (4,955) (1,533)
Other assets (501) 5,927
Accounts payable (3,158) 1,211
Accrued expenses and other 35,183 28,877
Security deposits 597 1,146
Net cash provided by operating activities 389,222 361,536
Cash flows from investing activities:    
Net (decrease) increase in cash and cash equivalents (9,742) 18,223
Purchases of real estate and other assets (262,268) (248,668)
Normal capital improvements (65,351) (72,786)
Construction capital and other improvements (5,569) (5,479)
Renovations to existing real estate assets (29,554) (22,470)
Development (42,611) (24,870)
Distributions from real estate joint ventures 1,823 6
Contributions to Real Estate Joint Ventures 0 (29)
Proceeds from disposition of real estate assets 187,425 358,017
(Funding) return of escrow for future acquisitions 0 (59,607)
Net cash (used in) provided by investing activities (216,105) (75,886)
Cash flows from financing activities:    
Net change in credit lines 130,000 8,885
Principal payments on notes payable (114,753) (92,211)
Payment of deferred financing costs (141) (178)
Repurchase of common stock (1,811) (957)
Proceeds from issuances of common shares (216) 326
Proceeds from Stock Options Exercised 0 420
Distributions to noncontrolling interests (10,234) (9,676)
Dividends paid on common shares (185,704) (174,036)
Net cash used in financing activities (182,859) (267,427)
Cash and cash equivalents, beginning of period 37,559 26,653
Cash and cash equivalents, end of period 27,817  
Supplemental disclosure of cash flow information:    
Interest paid 96,271 97,798
Income Taxes Paid 1,571 2,095
Supplemental disclosure of noncash investing and financing activities:    
Conversion of units to shares of common stock 780 236
Accrued construction in progress 8,742 8,333
Interest capitalized 1,095 1,313
Marked-to-market adjustment on derivative instruments 1,402 (4,632)
Limited Partner [Member]    
Cash flows from operating activities:    
Consolidated net income 182,344 305,378
Adjustments to reconcile net income to net cash provided by operating activities:    
Retail revenue accretion (130) (952)
Depreciation and amortization 228,073 220,941
Stock compensation expense 5,977 4,438
Redeemable stock issued 412 741
Amortization of debt premium (7,546) (12,755)
(Gain) loss from investments in real estate joint ventures (27) 6
Loss on debt extinguishment 0 2,788
Derivative interest (credit) expense (1,883) (1,567)
Gain on sale of non-depreciable real estate assets (2,170) (172)
Gain on sale of depreciable real estate assets excluded from discontinued operations (48,572) (190,031)
Net casualty loss and other settlement proceeds (738) (485)
Changes in assets and liabilities:    
Restricted cash (4,955) (1,533)
Other assets (501) 5,927
Accounts payable (3,158) 1,211
Accrued expenses and other 35,183 28,877
Security deposits 597 1,146
Net cash provided by operating activities 389,222 361,536
Cash flows from investing activities:    
Net (decrease) increase in cash and cash equivalents (9,742) 18,223
Purchases of real estate and other assets (262,268) (248,668)
Normal capital improvements (65,351) (72,786)
Construction capital and other improvements (5,569) (5,479)
Renovations to existing real estate assets (29,554) (22,470)
Development (42,611) (24,870)
Distributions from real estate joint ventures 1,823 6
Contributions to Real Estate Joint Ventures 0 (29)
Proceeds from disposition of real estate assets 187,425 358,017
(Funding) return of escrow for future acquisitions 0 (59,607)
Net cash (used in) provided by investing activities (216,105) (75,886)
Cash flows from financing activities:    
Net change in credit lines 130,000 8,885
Principal payments on notes payable (114,753) (92,211)
Payment of deferred financing costs (141) (178)
Repurchase of common units (1,811) (957)
Proceeds from issuances of common units (216) 326
Proceeds from Stock Options Exercised 0 420
Distributions paid on common units (195,938) (183,712)
Net cash used in financing activities (182,859) (267,427)
Cash and cash equivalents, beginning of period 37,559 26,653
Cash and cash equivalents, end of period 27,817  
Supplemental disclosure of cash flow information:    
Interest paid 96,271 97,798
Income Taxes Paid 1,571 2,095
Supplemental disclosure of noncash investing and financing activities:    
Accrued construction in progress 8,742 8,333
Interest capitalized 1,095 1,313
Marked-to-market adjustment on derivative instruments $ 1,402 $ (4,632)