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
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net income $ 109,292 $ 18,438
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amounts in discontinued operations 71,508 75,489
Provision for losses on accounts receivable 1,335 3,012
Gain on sale of real estate (106,555) (3,195)
Amortization of share grants, net 3,835 3,615
Amortization of debt premiums, discounts and related financing costs 2,730 2,980
Changes in operating other assets 16,255 8,856
Changes in operating other liabilities (3,013) 2,002
Net cash provided by operating activities 62,877 93,485
Cash flows from investing activities    
Real estate acquisitions, net (154,126) 0
Net cash received for sale of real estate 190,864 15,161
Capital improvements to real estate (41,945) (39,348)
Development in progress (28,363) (9,385)
Real estate deposits, net (2,500) (6,800)
Increase (Decrease) in Restricted Cash (550) 0
Non-real estate capital improvements (44) (125)
Net cash used in investing activities (36,664) (40,497)
Cash flows from financing activities    
Line of credit borrowings, net 5,000 85,000
Dividends paid (60,153) (60,132)
Contributions from noncontrolling interests 5 390
Distributions to noncontrolling interests (3,454) 0
Payment of financing costs (660) 0
Principal payments – mortgage notes payable (2,860) (32,461)
Borrowings under construction loan 14,137 3,033
Notes payable repayments (100,000) (60,000)
Net cash used in financing activities (147,985) (64,170)
Net decrease in cash and cash equivalents (121,772) (11,182)
Cash and cash equivalents at beginning of period 130,343 19,105
Cash and cash equivalents at end of period 8,571 7,923
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 36,770 42,075
Cash paid for income taxes, net of refunds 156 0
Decrease in accrued capital improvements and development costs 10,860 2,978
Noncash or Part Noncash Acquisition, Debt Assumed $ 100,861 $ 0