CASH FLOWS FROM OPERATING ACTIVITIES: | |
Net income | 268.38M |
Adjustments to reconcile net income to net cash provided by operating activities: | |
Depreciation and amortization of building and improvements and leasing costs | 157.59M |
Increase in provision for bad debts | |
Depreciation of furniture, fixtures and equipment | 2.87M |
Noncash amortization of share-based compensation awards | 15.26M |
Noncash amortization of deferred financing costs and debt discounts and premiums | 2.02M |
Noncash amortization of above/(below) market rents (Note 3) | |
Loss on early extinguishment of debt | |
Noncash amortization of deferred revenue related to tenant-funded tenant improvements | -9.7M |
Changes in operating assets and liabilities: | |
Marketable securities | |
Current receivables | |
Deferred rent receivables | |
Other deferred leasing costs | |
Prepaid expenses and other assets | |
Accounts payable, accrued expenses and other liabilities | |
Deferred revenue | |
Rents received in advance and tenant security deposits | |
Net cash provided by operating activities | 252.61M |
CASH FLOWS FROM INVESTING ACTIVITIES: | |
Expenditures for acquisition of operating properties (Note 2) | |
Expenditures for operating properties | |
Expenditures for development and redevelopment properties and undeveloped land | -222.72M |
Net increase in escrow deposits | 1.9M |
Decrease in restricted cash | -56.81M |
Receipt of principal payments on note receivable | |
Net cash used in investing activities | -124.21M |
CASH FLOWS FROM FINANCING ACTIVITIES: | |
Net proceeds from issuance of common stock (Note 7) | 0 |
Borrowings on unsecured line of credit | 305M |
Repayments on unsecured line of credit | -305M |
Principal payments on secured debt | |
Repurchase of exchangeable senior notes | |
Proceeds from issuance of secured debt (Note 5) | |
Proceeds from issuance of unsecured debt | 0 |
Financing costs | -1.49M |
Decrease in loan deposits | |
Repurchase of common stock and restricted stock units | -6.87M |
Proceeds from exercise of stock options | 2.17M |
Dividends and distributions paid to common stockholders and common unitholders | -101.54M |
Dividends and distributions paid to preferred stockholders and preferred unitholders | -9.94M |
Net cash provided by financing activities | 65.62M |
Net increase in cash and cash equivalents | 194.02M |
Cash and cash equivalents, beginning of period | 56.51M |
Cash and cash equivalents, end of period | 250.52M |
SUPPLEMENTAL CASH FLOWS INFORMATION: | |
Cash paid for interest, net of capitalized interest of $3,327 and $4,055 as of June 30, 2011 and 2010, respectively | |
NONCASH INVESTING TRANSACTIONS: | |
Accrual for expenditures for operating properties and development and redevelopment properties | |
Tenant improvements funded directly by tenants to third parties | |
Assumption of secured debt with property acquisition (Notes 2 and 5) | |
Assumption of other liabilities with property acquisitions (Note 2) | |
NONCASH FINANCING TRANSACTIONS: | |
Accrual of dividends and distributions payable to common stockholders and common unitholders | |
Accrual of dividends and distributions payable to preferred stockholders and preferred unitholders | |
Issuance of share-based compensation awards (Note 9) | |
Exchange of common units of the Operating Partnership into shares of the Company's common stock |