XML 68 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, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities      
Net income (loss) $ 59,961 $ 31,142 $ (44,203)
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Depreciation and amortization, including discontinued operations 181,791 174,465 172,415
Gain on sale of discontinued operations, net of tax (24,621) (9,614) (16,887)
Gain on sale of properties, including land (4,748) (236)  
Gain on sale of unconsolidated joint venture interests (1,136)    
Gain on sale of available-for sale investment (4,301)    
Loss on discontinuation of hedging relationship 29,791    
Loss on early retirement of debt     2,550
Impairment associated with land development activities     85,614
Impairment provision on technology investment   1,000  
Distributions of income from joint ventures 5,329 6,524 5,664
Equity in (income) loss of joint ventures (5,679) [1] 839 [1] (695) [1]
Share-based compensation 12,039 11,306 9,053
Amortization of deferred financing costs 5,877 4,102 3,925
Net change in operating accounts (9,469) 4,508 252
Net cash from operating activities 244,834 224,036 217,688
Cash flows from investing activities      
Development and capital improvements (227,755) (63,739) (72,779)
Proceeds from sale of joint venture interests 19,310    
Proceeds from sales of properties, including land and discontinued operations 57,312 102,819 28,078
Proceeds from sale of available-for-sale investment 4,510    
Decrease in notes receivable - affiliates 3,279 637 1,978
Investments in joint ventures (46,037) (6,467) (23,159)
Payments received on notes receivable - other     8,710
Increase in notes receivable - affiliates (129) (511) (7,332)
Distributions of investments from joint ventures 6,005 28 161
Other (3,859) 2,383 (5,173)
Net cash from investing activities (187,364) 35,150 (69,516)
Cash flows from financing activities      
Borrowings on unsecured line of credit 8,000 37,000  
Repayments on unsecured line of credit (8,000) (37,000) (145,000)
Proceeds from issuance of common shares 106,571 231,651 272,112
Proceeds from notes payable 495,705 57,748 440,840
Repayment of notes payable (627,623) (306,692) (503,705)
Distributions to common shareholders, perpetual preferred units, and noncontrolling interests (152,242) (135,626) (152,687)
Payment of deferred financing costs (9,288) (6,564) (5,124)
Common share options exercised 11,397 1,435 620
Net decrease in accounts receivable - affiliates 860 4,217 909
Other 1,734 1,064 612
Net cash from financing activities (172,886) (152,767) (91,423)
Net increase (decrease) in cash and cash equivalents (115,416) 106,419 56,749
Cash and cash equivalents, beginning of year 170,575 64,156 7,407
Cash and cash equivalents, end of year 55,159 170,575 64,156
Supplemental information      
Cash paid for interest, net of interest capitalized 114,615 128,742 134,266
Cash paid for income taxes 2,664 1,169 1,654
Supplemental schedule of non-cash investing and financing activities      
Distributions declared but not paid 39,364 35,295 33,025
Value of shares issued under benefit plans, net of cancellations 18,629 14,401 6,653
Conversion of operating partnership units to common shares 592 3,536 3,753
Accrual associated with construction and capital expenditures 16,754 6,590 5,189
Conversion of mezzanine notes to joint venture equity   43,279 18,496
Change of fair value of available-for-sale investments, net of tax   3,306  
Consolidation of joint venture at fair value, net of cash      
Real estate assets   238,885  
In-place leases   4,962  
Other assets   1,135  
Mortgage debt assumed   188,119  
Other liabilities   $ 3,197  
[1] Equity in income (loss) of unconsolidated joint ventures excludes our ownership interest of fee income from various property management services and interest income from mezzanine loans with our joint ventures.