Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (19,058,000) $ 46,269,000 $ 81,387,000
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:      
Depreciation and amortization, including related intangible assets 183,303,000 174,397,000 174,589,000
Depreciation and amortization on discontinued operations 8,218,000 17,765,000 18,416,000
Amortization of deferred stock units 529,000 490,000 433,000
Amortization of stock compensation 2,387,000 3,642,000 4,123,000
Amortization of deferred financing costs and debt discount 3,172,000 2,669,000 2,370,000
Write off of unamortized deferred financing costs related to early extinguishment of debt 156,000 593,000 0
Equity in loss (earnings) of unconsolidated joint venture, net 2,327,000 (4,089,000) (2,022,000)
Distributions of cumulative earnings from unconsolidated joint ventures 8,485,000 3,990,000 3,301,000
Realized (gains) and unrealized losses on disposition of rental property and impairments, net (59,520,000) 13,175,000  
Impairments 110,853,000 9,845,000  
Changes in operating assets and liabilities:      
Increase in unbilled rents receivable, net (10,105,000) (6,488,000) (7,352,000)
Increase in deferred charges, goodwill and other assets (24,623,000) (17,224,000) (27,397,000)
Decrease (increase) in accounts receivable, net 248,000 (2,065,000) 5,241,000
(Decrease) increase in accounts payable, accrued expenses and other liabilities (7,090,000) (1,816,000) 1,827,000
(Decrease) increase in rents received in advance and security deposits (2,187,000) 2,898,000 (4,859,000)
Increase in accrued interest payable 1,598,000 655,000 2,008,000
Net cash provided by operating activities 198,693,000 244,706,000 252,065,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Rental property acquisitions and related intangibles (178,294,000) (115,460,000)  
Rental property additions and improvements (89,869,000) (47,191,000) (74,888,000)
Development of rental property (13,772,000) (60,354,000) (16,841,000)
Proceeds from the sale of rental property 332,102,000 23,429,000  
Issuance of notes and mortgage receivable (16,425,000)    
Repayment of notes receivable 333,000    
Investment in unconsolidated joint ventures (86,504,000) (36,051,000) (501,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 23,907,000 1,547,000 1,460,000
(Increase) decrease in restricted cash (455,000) 1,724,000 (3,407,000)
Net cash used in investing activities (28,977,000) (232,356,000) (94,177,000)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowings from revolving credit facility 289,000,000 591,026,000 299,500,000
Repayment of revolving credit facility (289,000,000) (646,526,000) (472,000,000)
Proceeds from senior unsecured notes 268,928,000 547,926,000  
Repayment of senior unsecured notes (100,000,000) (221,019,000)  
Proceeds from mortgages and loans payable 3,170,000 1,937,000  
Proceeds from offering of common stock     227,374,000
Redemption of preferred stock     (25,000,000)
Repayment of mortgages, loans payable and other obligations (20,715,000) (52,318,000) (8,684,000)
Payment of contingent consideration (2,755,000)    
Payment of financing costs (5,429,000) (4,711,000) (4,993,000)
Repurchase of common stock   (11,011,000)  
Proceeds from stock options exercised 0 0 3,048,000
Payment of dividends and distributions (149,454,000) (179,905,000) (178,488,000)
Net cash (used in) provided by financing activities (6,255,000) 25,399,000 (159,243,000)
Net increase in cash and cash equivalents 163,461,000 37,749,000 (1,355,000)
Cash and cash equivalents, beginning of period 58,245,000 20,496,000 21,851,000
Cash and cash equivalents, end of period $ 221,706,000 $ 58,245,000 $ 20,496,000