Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
OPERATING ACTIVITIES: | ' | ' |
Net income | $51,875 | $76,519 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Straight-line rent adjustment | -2,794 | -1,827 |
Accretion of below market lease intangibles, net | -15,654 | -9,339 |
Amortization of below market ground lease intangibles | 450 | 450 |
Equity in income of unconsolidated joint ventures | -10,318 | -1,766 |
Gain on change in control of interests | -2,807 | 0 |
Income tax provision of taxable REIT subsidiaries | 803 | 287 |
(Decrease) increase in allowance for losses on accounts receivable | -531 | 1,922 |
Amortization of premium on notes payable, net | -1,887 | -1,882 |
Amortization of deferred financing fees | -1,803 | -1,815 |
Depreciation and amortization | 81,548 | 70,312 |
Share-based compensation expense | 5,350 | 4,652 |
Amortization of derivatives | 47 | 47 |
Gain on sale of real estate | -13,892 | -36,672 |
(Gain) loss on extinguishment of debt | -1,074 | 575 |
Operating distributions from joint ventures | 2,385 | 53 |
Impairment loss | -13,892 | -6,579 |
Changes in assets and liabilities, net of effects of acquisitions and disposals: | ' | ' |
Accounts and other receivables | 1,170 | -2,839 |
Other assets | -5,163 | -8,613 |
Accounts payable and accrued expenses | 10,394 | 5,244 |
Tenant security deposits | -316 | -850 |
Other liabilities | 49 | -1,056 |
Net cash provided by operating activities | 115,330 | 103,611 |
INVESTING ACTIVITIES: | ' | ' |
Acquisition of income producing properties | -91,147 | -60,000 |
Additions to income producing properties | -14,883 | -10,694 |
Additions to construction in progress | -53,498 | -33,593 |
Deposits for the acquisition of income producing properties | -225 | -4,918 |
Proceeds from sale of real estate and rental properties | 119,043 | 216,652 |
Decrease (increase) in cash held in escrow | 10,662 | -40,892 |
Purchase of Below Market Leasehold Interest | 0 | 25,000 |
Increase in deferred leasing costs and lease intangibles | -5,887 | -5,998 |
Investment in joint ventures | -2,129 | -9,770 |
(Advances to) repayments of advances to joint ventures | -177 | 135 |
Distributions from joint ventures | 15,537 | 3,077 |
Investment in loans receivable | ' | -12,000 |
Repayment of loans receivable | 60,526 | 91,586 |
Net cash provided by investing activities | 37,822 | 108,585 |
FINANCING ACTIVITIES: | ' | ' |
Repayments of mortgage notes payable | -33,929 | -33,099 |
Net repayments under revolving credit facilities | -91,000 | -82,000 |
Proceeds from issuance of common stock | 112,870 | 8,217 |
Repurchase of common stock | -1,076 | -358 |
Stock issuance costs | -294 | -93 |
Dividends paid to stockholders | -79,355 | -78,187 |
Purchase of noncontrolling interest | -2,954 | -18,917 |
Distributions to redeemable noncontrolling interests | 0 | -911 |
Distributions to noncontrolling interests | -9,426 | -7,540 |
Net cash used in financing activities | -105,164 | -212,888 |
Net increase (decrease) in cash and cash equivalents | 47,988 | -692 |
Cash and cash equivalents at beginning of the period | 25,583 | 27,416 |
Cash and cash equivalents at end of the period | 73,571 | 26,724 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION: | ' | ' |
Cash paid for interest (net of capitalized interest of $3,624 and $2,236 in 2014 and 2013, respectively) | 51,967 | 55,160 |
We acquired upon acquisition of certain income producing properties: | ' | ' |
Income producing properties | 113,358 | 61,709 |
Intangible and other assets | 7,257 | 7,270 |
Intangible and other liabilities | -12,180 | -8,979 |
Noncash or Part Noncash Acquisition, Net Assets Acquired (Excluding Debt Assumed) | 108,435 | 60,000 |
Noncash or Part Noncash Acquisition, Debt Assumed | 11,353 | 0 |
Noncash or Part Noncash Acquisition, Existing Equity Interest in Acquiree | -5,935 | 0 |
Cash paid for income producing properties | 91,147 | 60,000 |
Non-cash investing information: | ' | ' |
Investment in loan receivable | 0 | 12,790 |
Equity One, Inc. [Member] | ' | ' |
FINANCING ACTIVITIES: | ' | ' |
Stock issuance costs | -294 | ' |
Guarantor Subsidiaries [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net income | 65,355 | 84,287 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Gain on sale of real estate | -3,989 | ' |
Changes in assets and liabilities, net of effects of acquisitions and disposals: | ' | ' |
Net cash provided by operating activities | 97,706 | 83,552 |
INVESTING ACTIVITIES: | ' | ' |
Acquisition of income producing properties | -80,350 | ' |
Additions to income producing properties | -7,005 | -5,977 |
Additions to construction in progress | -40,176 | -24,712 |
Deposits for the acquisition of income producing properties | 0 | 0 |
Proceeds from sale of real estate and rental properties | 56,609 | 143,597 |
Decrease (increase) in cash held in escrow | ' | ' |
Purchase of Below Market Leasehold Interest | ' | 25,000 |
Increase in deferred leasing costs and lease intangibles | -2,704 | -3,260 |
Investment in joint ventures | ' | ' |
(Advances to) repayments of advances to joint ventures | ' | ' |
Distributions from joint ventures | ' | ' |
Investment in loans receivable | ' | ' |
Repayment of loans receivable | ' | ' |
Net cash provided by investing activities | -89,567 | -81,470 |
FINANCING ACTIVITIES: | ' | ' |
Repayments of mortgage notes payable | -8,139 | -2,082 |
Net repayments under revolving credit facilities | ' | ' |
Proceeds from issuance of common stock | 0 | ' |
Repurchase of common stock | 0 | 0 |
Stock issuance costs | 0 | ' |
Dividends paid to stockholders | 0 | ' |
Purchase of noncontrolling interest | ' | ' |
Distributions to redeemable noncontrolling interests | ' | ' |
Distributions to noncontrolling interests | ' | ' |
Net cash used in financing activities | -8,139 | -2,082 |
Net increase (decrease) in cash and cash equivalents | ' | ' |
Cash and cash equivalents at beginning of the period | ' | ' |
Cash and cash equivalents at end of the period | ' | ' |
We acquired upon acquisition of certain income producing properties: | ' | ' |
Cash paid for income producing properties | ' | -60,000 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net income | 69,507 | 51,389 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Gain on sale of real estate | -238 | ' |
Changes in assets and liabilities, net of effects of acquisitions and disposals: | ' | ' |
Net cash provided by operating activities | 93,964 | 73,730 |
INVESTING ACTIVITIES: | ' | ' |
Acquisition of income producing properties | -10,797 | ' |
Additions to income producing properties | -6,456 | -3,568 |
Additions to construction in progress | -10,141 | -8,325 |
Deposits for the acquisition of income producing properties | 0 | 0 |
Proceeds from sale of real estate and rental properties | 27,425 | 5,528 |
Decrease (increase) in cash held in escrow | ' | ' |
Purchase of Below Market Leasehold Interest | ' | ' |
Increase in deferred leasing costs and lease intangibles | -2,695 | -2,240 |
Investment in joint ventures | -2,129 | -9,770 |
(Advances to) repayments of advances to joint ventures | ' | 135 |
Distributions from joint ventures | 15,537 | 3,077 |
Investment in loans receivable | ' | -12,000 |
Repayment of loans receivable | 60,526 | 91,586 |
Net cash provided by investing activities | -55,794 | -18,924 |
FINANCING ACTIVITIES: | ' | ' |
Repayments of mortgage notes payable | -25,790 | -27,438 |
Net repayments under revolving credit facilities | 0 | ' |
Proceeds from issuance of common stock | 0 | ' |
Repurchase of common stock | 0 | 0 |
Stock issuance costs | 0 | ' |
Dividends paid to stockholders | 0 | ' |
Purchase of noncontrolling interest | -2,954 | -18,917 |
Distributions to redeemable noncontrolling interests | ' | -911 |
Distributions to noncontrolling interests | -9,426 | -7,540 |
Net cash used in financing activities | -38,170 | -54,806 |
Net increase (decrease) in cash and cash equivalents | ' | ' |
Cash and cash equivalents at beginning of the period | ' | ' |
Cash and cash equivalents at end of the period | ' | ' |
We acquired upon acquisition of certain income producing properties: | ' | ' |
Cash paid for income producing properties | ' | ' |
Consolidated Entities [Member] | ' | ' |
OPERATING ACTIVITIES: | ' | ' |
Net income | 51,875 | 76,519 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Gain on sale of real estate | -10,658 | ' |
Changes in assets and liabilities, net of effects of acquisitions and disposals: | ' | ' |
Net cash provided by operating activities | 115,330 | 103,611 |
INVESTING ACTIVITIES: | ' | ' |
Acquisition of income producing properties | -91,147 | ' |
Additions to income producing properties | -14,883 | -10,694 |
Additions to construction in progress | -53,498 | -33,593 |
Deposits for the acquisition of income producing properties | -225 | -4,918 |
Proceeds from sale of real estate and rental properties | 119,043 | 216,652 |
Decrease (increase) in cash held in escrow | 10,662 | -40,892 |
Purchase of Below Market Leasehold Interest | ' | 25,000 |
Increase in deferred leasing costs and lease intangibles | -5,887 | -5,998 |
Investment in joint ventures | -2,129 | -9,770 |
(Advances to) repayments of advances to joint ventures | ' | 135 |
Distributions from joint ventures | 15,537 | 3,077 |
Investment in loans receivable | ' | -12,000 |
Repayment of loans receivable | 60,526 | 91,586 |
Net cash provided by investing activities | 37,822 | 108,585 |
FINANCING ACTIVITIES: | ' | ' |
Repayments of mortgage notes payable | -33,929 | -33,099 |
Net repayments under revolving credit facilities | -91,000 | -82,000 |
Proceeds from issuance of common stock | 112,870 | 8,217 |
Repurchase of common stock | -1,076 | -358 |
Stock issuance costs | -294 | -93 |
Dividends paid to stockholders | -79,355 | -78,187 |
Purchase of noncontrolling interest | -2,954 | -18,917 |
Distributions to redeemable noncontrolling interests | ' | -911 |
Distributions to noncontrolling interests | -9,426 | -7,540 |
Net cash used in financing activities | -105,164 | -212,888 |
Net increase (decrease) in cash and cash equivalents | 47,988 | -692 |
Cash and cash equivalents at beginning of the period | 25,583 | 27,416 |
Cash and cash equivalents at end of the period | 73,571 | 26,724 |
We acquired upon acquisition of certain income producing properties: | ' | ' |
Cash paid for income producing properties | ' | ($60,000) |