XML 22 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 200,860 $ 838,226 $ 258,262
Net income from discontinued operations, including gain on sale 0 (382,842) (19,750)
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 263,974 250,146 240,944
Loss on early retirement of debt 323 0 0
Gain on sale of operating properties, including land (43,231) (295,397) (104,288)
Distributions of income from joint ventures 6,851 7,057 6,387
Equity in income of joint ventures [1] (6,822) [2] (7,125) (6,168)
Share-based compensation 17,547 20,123 17,674
Net change in operating accounts and other (4,846) 281 (5,761)
Net cash from continuing operating activities 434,656 430,469 387,300
Net cash from discontinued operating activities 0 12,594 35,938
Net cash from operating activities 434,656 443,063 423,238
Cash flows from investing activities      
Development and capital improvements (299,086) (342,952) (411,799)
Acquisition of operating property (58,267) 0 0
Proceeds from sales of operating properties, including land 76,902 515,754 145,044
Purchase of short-term investments 0 (100,000) 0
Maturity of short-term investments 100,000 0 0
Other (9,303) (3,482) (12,705)
Net cash from continuing investing activities (189,754) 69,320 (279,460)
Proceeds from discontinued operations, including land 0 622,982 0
Net cash from discontinued investing activities 0 (1,890) (13,775)
Net cash from investing activities (189,754) 690,412 (293,235)
Cash flows from financing activities      
Borrowings on unsecured credit facility and other short-term borrowings 465,000 1,305,000 1,466,000
Repayments on unsecured credit facility and other short-term borrowings (465,000) (1,549,000) (1,222,000)
Repayment of notes payable (278,999) (3,077) (253,043)
Distributions to common shareholders and non-controlling interests (280,761) (663,363) (253,129)
Purchase of non-controlling interest 0 0 (9,500)
Proceeds from issuance of common shares 445,038 0 0
Other 1,799 6,203 (1,559)
Net cash from financing activities (112,923) (904,237) (273,231)
Net increase (decrease) in cash, cash equivalents, and restricted cash 131,979 229,238 (143,228)
Cash, cash equivalents, and restricted cash, beginning of year 245,826 16,588 159,816
Cash, cash equivalents, and restricted cash, end of year 377,805 245,826 16,588
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets [Abstract]      
Total cash, cash equivalents, and restricted cash 245,826 16,588 159,816
Supplemental information      
Cash paid for interest, net of interest capitalized 88,654 93,302 96,179
Cash paid for income taxes 1,705 2,424 1,889
Supplemental schedule of noncash investing and financing activities      
Distributions declared but not paid 72,943 69,161 64,275
Value of shares issued under benefit plans, net of cancellations 18,061 19,006 18,336
Accrual associated with construction and capital expenditures $ 19,016 $ 22,762 $ 24,175
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the Funds
[2] Equity in income for the year ended December 31, 2017 includes our ownership interest of the hurricane related expenses of approximately $0.4 million.