XML 54 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 37,629 $ 257,345
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss (gain) on extinguishment of debt 358 (1,943)
Loss (gain) on remeasurement, sale or write down of assets, net 11,065 (4,030)
Gain on the disposition of assets, net from discontinued operations 0 (141,912)
Depreciation and amortization 180,374 191,431
Amortization of net premium on mortgage notes payable (2,704) (4,464)
Amortization of share and unit-based plans 20,839 8,780
Straight-line rent adjustment (3,098) (3,851)
Amortization of above and below-market leases (2,719) (3,042)
Provision for doubtful accounts 3,430 2,583
Income tax benefit (3,070) (1,721)
Equity in income of unconsolidated joint ventures (27,672) (110,316)
Distributions of income from unconsolidated joint ventures 177 8,022
Co-venture expense 4,032 4,179
Changes in assets and liabilities, net of acquisitions and dispositions:    
Tenant and other receivables 10,966 8,624
Other assets 487 10,774
Due from affiliates 940 (349)
Accounts payable and accrued expenses (15,085) (3,653)
Other accrued liabilities (25,377) (33,670)
Net cash provided by operating activities 190,572 182,787
Cash flows from investing activities:    
Acquisitions of property (15,233) (492,577)
Development, redevelopment, expansion and renovation of properties (82,457) (86,982)
Property improvements (14,597) (11,049)
Issuance of notes receivable 0 (13,330)
Proceeds from maturities of marketable securities 0 689
Deferred leasing costs (13,772) (16,769)
Distributions from unconsolidated joint ventures 33,382 220,102
Contributions to unconsolidated joint ventures (108,316) (42,616)
Collection of/loans to unconsolidated joint ventures, net (640) 596
Proceeds from sale of assets 25,414 315,059
Restricted cash 1,420 6,398
Net cash used in investing activities (174,799) (120,479)
Cash flows from financing activities:    
Proceeds from mortgages, bank and other notes payable 301,655 2,093,503
Payments on mortgages, bank and other notes payable (121,571) (2,156,635)
Deferred financing costs (603) (5,503)
Net proceeds from stock offerings 0 171,174
Proceeds from share and unit-based plans 645 459
Redemption of noncontrolling interests (221) (1,022)
Contingent consideration paid (9,000) 0
Dividends and distributions (191,200) (173,417)
Distributions to co-venture partner (8,693) (9,717)
Net cash used in financing activities (28,988) (81,158)
Net decrease in cash and cash equivalents (13,215) (18,850)
Cash and cash equivalents, beginning of period 69,715 65,793
Cash and cash equivalents, end of period 56,500 46,943
Supplemental cash flow information:    
Cash payments for interest, net of amounts capitalized 97,083 113,201
Non-cash transactions:    
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities 24,933 23,063
Acquisition of property in exchange for investment in unconsolidated joint venture 15,767 0
Notes receivable issued in connection with sale of property 9,603 0
Application of deposit to acquire property 0 30,000
Conversion of noncontrolling interests to common shares $ 984 $ 12,984