Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net income $ 7,335 $ 5,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amounts in discontinued operations 25,524 25,994
Provision for losses on accounts receivable 1,566 1,098
Gain on sale of real estate (3,195) 0
Amortization of share grants, net 1,026 1,429
Amortization of debt premiums, discounts and related financing costs 1,016 968
Changes in operating other assets (628) (3,953)
Changes in operating other liabilities 4,260 4,842
Net cash provided by operating activities 36,904 35,559
Cash flows from investing activities    
Net cash received for sale of real estate 15,161 0
Capital improvements to real estate (10,202) (10,459)
Development in progress (3,788) (780)
Non-real estate capital improvements (7) (210)
Net cash provided by (used in) investing activities 1,164 (11,449)
Cash flows from financing activities    
Line of credit borrowings (repayments), net 70,000 10,000
Dividends paid (20,034) (28,900)
Net contributions from noncontrolling interests 213 22
Proceeds from dividend reinvestment program 0 1,242
Principal payments – mortgage notes payable (30,828) (1,453)
Notes payable repayments (60,000) 0
Net proceeds from exercise of share options 0 23
Net cash used in financing activities (40,649) (19,066)
Net (decrease) increase in cash and cash equivalents (2,581) 5,044
Cash and cash equivalents at beginning of period 19,324 12,765
Cash and cash equivalents at end of period 16,743 17,809
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 10,684 12,215
Cash paid for taxes, net of refund $ 4 $ 0