XML 41 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flow from operating activities:    
Net income $ 188,620 $ 131,931
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 197,964 188,812
Impairment charges 37,740 16,676
Gain on sale of operating properties (44,596) (8,722)
Equity in income of joint ventures, net (103,743) (49,810)
Equity in income from other real estate investments, net (35,340) (35,123)
Distributions from joint ventures and other real estate investments 150,721 108,595
Cash retained from excess tax benefits   (69)
Change in accounts and notes receivable 11,249 (5,182)
Change in accounts payable and accrued expenses 34,915 32,826
Change in other operating assets and liabilities (29,940) (12,019)
Net cash flow provided by operating activities 407,590 367,915
Cash flow from investing activities:    
Acquisition of and improvements to operating real estate (421,849) (169,350)
Acquisition of and improvements to real estate under development (2,423) (26,939)
Proceeds from sale/repayments of marketable securities 156 178,290
Investments and advances to real estate joint ventures (159,121) (90,747)
Reimbursements of investments and advances to real estate joint ventures 135,987 44,894
Other real estate investments (4,215) (5,225)
Reimbursements of investments and advances to other real estate investments 26,637 50,536
Investment in mortgage loans receivable (15,623)  
Collection of mortgage loans receivable 24,613 14,732
Other investments (924) (730)
Reimbursements of other investments 9,538 11,122
Proceeds from sale of operating properties 277,174 65,593
Proceeds from sale of development properties   7,373
Net cash flow (used for) provided by investing activities (130,050) 79,549
Cash flow from financing activities:    
Principal payments on debt, excluding normal amortization of rental property debt (212,105) (24,393)
Principal payments on rental property debt (17,585) (17,130)
Principal payments on construction loan financings (213) (409)
Proceeds from mortgage/construction loan financings 6,276 13,685
(Repayment) proceeds under unsecured revolving credit facilities, net (226,558) 13,326
Proceeds from issuance of unsecured term loan 400,000  
Repayment of unsecured notes (17,000) (88,000)
Financing origination costs (1,904) (855)
Redemption of non-controlling interests (25,868) (23,890)
Dividends paid (285,092) (265,674)
Cash retained from excess tax benefits   69
Proceeds from issuance of stock 625,102 4,832
Redemption of preferred stock (175,000)  
Repurchase of common stock (30,946) (3,981)
Net cash flow provided by (used for) financing activities 39,107 (392,420)
Change in cash and cash equivalents 316,647 55,044
Cash and cash equivalents, beginning of year 112,882 125,154
Cash and cash equivalents, end of year 429,529 180,198
Interest paid during the year (net of capitalized interest of $1,273 and $6,142, respectively) 149,976 145,378
Income taxes paid during the year $ 1,970 $ 2,062