Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 40,678,000 $ 38,866,000
Adjustments to reconcile net income to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 95,735,000 95,289,000
Depreciation and amortization on discontinued operations 428,000 863,000
Amortization of stock compensation 1,635,000 1,594,000
Amortization of deferred financing costs and debt discount 1,272,000 1,168,000
Write off of unamortized discount on senior unsecured notes 370,000  
Equity in earnings of unconsolidated joint venture, net (2,333,000) (635,000)
Realized gains and unrealized losses on disposition of rental property, net (2,378,000)  
Distributions of cumulative earnings from unconsolidated joint ventures 1,494,000 1,471,000
Changes in operating assets and liabilities:    
Increase in unbilled rents receivable, net (1,610,000) (4,066,000)
Increase in deferred charges and other assets, net (7,322,000) (18,468,000)
(Increase) decrease in accounts receivable, net (1,829,000) 3,554,000
Increase in accounts payable, accrued expenses and other liabilities 10,229,000 5,749,000
Increase (decrease) in rents received in advance and security deposits 201,000 (2,327,000)
(Decrease) increase in accrued interest payable (6,000) 706,000
Net cash provided by operating activities 136,564,000 123,764,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property additions and improvements (33,348,000) (43,252,000)
Development of rental property (8,352,000)  
Investment in unconsolidated joint ventures (32,475,000) (201,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 988,000 929,000
Increase in restricted cash (195,000) (3,077,000)
Net cash used in investing activities (73,382,000) (45,601,000)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 302,526,000 139,000,000
Repayment of revolving credit facility (348,026,000) (358,000,000)
Proceeds from senior unsecured notes 299,403,000  
Repayment of senior unsecured notes (221,019,000)  
Proceeds from offering of common stock   227,374,000
Repayment of mortgages, loans payable and other obligations (4,674,000) (4,160,000)
Payment of financing costs (2,635,000) (6,000)
Proceeds from stock options exercised 0 1,463,000
Payment of dividends and distributions (89,950,000) (87,591,000)
Net cash used in financing activities (64,375,000) (81,920,000)
Net decrease in cash and cash equivalents (1,193,000) (3,757,000)
Cash and cash equivalents, beginning of period 20,496,000 21,851,000
Cash and cash equivalents, end of period $ 19,303,000 $ 18,094,000