Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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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 $ 81,387 $ 63,439 $ 63,728
Adjustments to reconcile net income to net cash provided by Operating activities:      
Depreciation and amortization, including related intangible assets 193,005 190,260 194,786
Depreciation and amortization on discontinued operations   409 1,811
Amortization of stock compensation 4,557 4,528 2,272
Amortization of deferred financing costs and debt discount 2,370 2,656 2,730
Equity in (earnings) loss of unconsolidated joint venture, net (2,022) (2,276) 5,560
Gain on reduction of other obligations     (1,693)
Realized gains on disposition of rental property   (4,447)  
Impairment charge on rental property   9,521  
Impairment charge on rental property from discontinued operations     16,563
Distributions of cumulative earnings from unconsolidated joint ventures 3,301 2,311 2,637
Changes in operating assets and liabilities:      
Increase in unbilled rents receivable, net (7,352) (7,458) (6,859)
(Increase) decrease in deferred charges and other assets, net (27,398) (24,069) 403
(Increase) decrease in accounts receivable, net 5,241 (4,306) 14,880
Increase (decrease) in accounts payable, accrued expenses and other liabilities 1,827 (424) (4,267)
(Decrease) increase in rents received in advance and security deposits (4,859) 3,184 (1,570)
(Decrease) increase in accrued interest payable 2,008 (10,292) 3,705
Net cash provided by operating activities 252,065 223,036 294,686
CASH FLOWS FROM INVESTING ACTIVITIES      
Additions to rental property and related intangibles (91,729) (92,499) (77,767)
Repayment of notes receivable     11,441
Investment in unconsolidated joint ventures (501) (954) (6,327)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 1,460 2,410 518
(Increase) decrease in restricted cash (3,407) 2,018 (7,962)
Net cash used in investing activities (94,177) (89,025) (80,097)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowings from revolving credit facility 299,500 250,000 337,000
Repayment of revolving credit facility and money market loans (472,000) (22,000) (498,000)
Proceeds from senior unsecured notes     246,238
Repayment of senior unsecured notes   (465,000) (199,724)
Proceeds from mortgages and loans payable   11,000 81,500
Repayment of mortgages, loans payable and other obligations (8,684) (8,154) (11,462)
Payment of financing costs (4,993) (2,074) (2,766)
Proceeds from offering of common stock 227,374   274,826
Redemption of preferred stock (25,000)    
Proceeds from stock options exercised 3,048 1,504 504
Payment of dividends and distributions (178,488) (168,495) (173,267)
Net cash (used in) provided by financing activities (159,243) (403,219) 54,849
Net (decrease) increase in cash and cash equivalents (1,355) (269,208) 269,438
Cash and cash equivalents, beginning of period 21,851 291,059 21,621
Cash and cash equivalents, end of period $ 20,496 $ 21,851 $ 291,059