7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-06-30 2014-03-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2006-03-31 
      
    		                                               
      cash flows from operating activities:
    		                                               
      net income
    		296,868,000 198,785,000 264,798,000 433,871,000 148,517,000 183,555,000 305,032,000 322,269,000 181,286,000 144,862,000 220,071,000 165,354,000 335,165,000 232,678,000 73,798,000 560,978,000 447,332,000 328,040,000 60,364,000 262,984,000 95,365,000 271,481,000 332,671,000 118,410,000 220,548,000 130,084,000 144,196,000 204,160,000 149,941,000 302,381,000 217,492,000 228,400,000 3,731,831,000 213,720,000 205,456,000 298,618,000 190,224,000 117,720,000 82,732,000 112,977,000 581,753,000 133,066,000 198,212,000 29,826,000 10,089,000 57,856,000 377,815,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                               
      depreciation
    		254,657,000 240,889,000 256,746,000 264,150,000 237,948,000 224,398,000 225,695,000 226,788,000 224,736,000 221,355,000 215,830,000 214,272,000 214,129,000 223,806,000 229,961,000 222,240,000 215,397,000 200,673,000 199,962,000 201,829,000 200,605,000 205,976,000 212,422,000 192,942,000 196,309,000 200,785,000 184,100,000 179,896,000 178,968,000 177,407,000 179,230,000 176,127,000 172,885,000 181,033,000 196,059,000 194,282,000 194,521,000 190,136,000 185,167,000 165,453,000 161,567,000 169,363,000 171,708,000 174,019,000 174,942,000 152,734,000 146,771,000 
      amortization of deferred financing costs
    		2,122,000 2,103,000 2,144,000 2,050,000 1,948,000 1,918,000 1,918,000 1,918,000 3,027,000 2,017,000 1,979,000 2,308,000 2,220,000 2,124,000 2,077,000 2,565,000 2,048,000 1,939,000 2,185,000 2,686,000 2,101,000 2,111,000 2,041,000 2,099,000 3,679,000 2,079,000 2,064,000 2,087,000 2,296,000 2,633,000 2,261,000 2,345,000 5,394,000 3,067,000 2,607,000 2,538,000 2,589,000 3,134,000 2,792,000 4,721,000 4,974,000 3,074,000 2,425,000 2,465,000 2,319,000 3,197,000 2,790,000 
      amortization of discounts and premiums on debt
    		1,316,000 1,326,000 1,311,000 1,328,000 1,287,000 1,269,000 1,267,000 1,276,000 1,075,000 872,000 868,000 881,000 1,232,000 1,533,000 1,358,000 1,368,000 1,341,000 1,299,000 1,294,000 1,397,000 1,281,000 1,277,000 1,276,000 1,731,000 1,532,000 -1,403,000 1,580,000 1,722,000 1,637,000 950,000 682,000 553,000 -19,563,000 -1,774,000 -2,107,000 -1,860,000 -3,751,000 -2,938,000 -2,938,000 -707,000 478,000 373,000 -1,925,000 331,000 558,000 565,000  
      amortization of deferred settlements on derivative instruments
    		275,000 262,000 683,000 677,000 607,000 596,000 608,000 602,000 928,000 1,103,000 1,092,000 1,081,000 5,103,000 2,453,000 2,422,000 2,391,000 2,360,000 2,330,000 2,301,000 17,809,000 5,874,000 5,761,000 5,631,000 4,514,000 4,788,000 4,837,000 4,764,000 4,666,000 4,580,000 4,493,000 4,337,000 4,265,000 28,585,000 4,592,000 4,732,000 4,546,000 4,205,000 4,072,000 3,996,000 817,000 802,000 822,000 826,000 780,000 605,000 593,000 244,000 
      amortization of right-of-use assets
    		3,170,000 3,206,000 3,189,000 3,228,000 4,850,000 3,239,000 3,231,000 3,223,000 3,215,000 3,207,000 3,150,000 3,034,000 3,020,000 3,057,000 3,046,000 2,980,000 2,978,000 4,328,000 2,980,000 2,897,000 2,893,000 2,885,000 3,007,000                         
      write-off of pursuit costs
    		4,074,000 727,000 1,321,000 3,250,000 536,000 821,000 548,000 908,000 746,000 661,000 1,332,000 1,484,000 781,000 1,052,000 1,463,000 2,969,000 910,000 1,316,000 1,331,000 2,005,000 1,586,000 1,651,000 1,627,000 1,135,000 931,000 777,000 783,000 831,000 715,000 713,000 816,000 1,115,000 1,448,000 886,000 671,000 1,158,000 493,000 1,040,000 452,000 1,014,000 1,355,000 1,683,000 1,760,000 1,450,000 1,016,000 1,046,000  
      (income) income from investments in unconsolidated entities
    		3,981,000 4,996,000 6,411,000 4,109,000 1,493,000 1,674,000 1,698,000 1,531,000 1,242,000 1,223,000 1,382,000 1,575,000 1,027,000 1,168,000 1,261,000 370,000 1,156,000 261,000 1,611,000 839,000 246,000 1,042,000 1,157,000 1,031,000 977,000         -637,000 1,041,000 -12,466,000 -2,963,000           
      distributions from unconsolidated entities – return on capital
    		2,465,000 93,000 150,000 109,000 165,000 122,000 159,000 123,000 146,000 139,000 151,000 147,000 87,000 85,000 79,000     0 0 0 100,000 573,000 615,000 601,000 686,000 697,000 648,000 698,000 683,000 827,000 655,000 1,177,000 1,371,000 1,677,000 516,000 1,476,000 914,000 276,000     0 61,000  
      net (gain) loss on sales of real estate properties
    		-142,685,000 -58,280,000 -154,152,000 -318,968,000 165,000 -39,809,000 -188,185,000 -155,505,000 -26,912,000 87,000 -100,209,000 21,000 -196,551,000 -107,897,000 102,000 -484,560,000 -363,928,000 -223,738,000 43,000 -179,589,000 25,000 -144,266,000 -207,977,000 51,000 -142,213,000                       
      net (gain) loss on sales of land parcels
    		2,000 11,000 67,000             0 0 0 -5,000           28,000 -4,037,000 0 -11,722,000               
      realized (gain) loss on investment securities
    		2,000 9,000 40,000 676,000 0   7,000                                        
      unrealized (gain) loss on investment securities
    		   0 -14,135,000 1,316,000 -7,061,000 -9,005,000                                        
      compensation paid with company common shares
    		5,403,000 11,194,000 10,370,000 4,506,000 5,431,000 11,881,000 9,469,000 4,867,000 6,103,000 11,801,000 9,044,000 4,954,000 5,959,000 9,397,000 9,203,000 5,891,000 5,842,000 7,399,000 8,678,000 4,899,000 4,800,000 5,631,000 7,844,000 6,754,000 10,278,000 4,998,000 4,972,000 7,154,000 7,873,000 4,990,000 4,811,000 10,762,000 9,967,000 5,338,000 5,252,000 10,407,000 13,610,000 8,924,000 12,981,000 4,333,000 5,865,000 6,524,000 4,159,000 3,790,000 5,169,000 5,757,000 6,294,000 
      changes in assets and liabilities:
    		                                               
      increase in other assets
    		22,041,000 -44,111,000 25,405,000 -17,364,000 -24,746,000 7,560,000 22,737,000 -22,090,000 25,145,000 -39,515,000 26,257,000 -9,841,000 22,830,000 -32,270,000 30,174,000 -10,363,000 20,731,000 -25,208,000 20,746,000 -22,824,000 31,225,000 -43,036,000 -18,386,000 15,813,000 -15,396,000 22,575,000 16,821,000 -28,786,000 -11,059,000     -16,375,000   -4,237,000      -2,663,000     
      increase in accounts payable and accrued expenses
    		44,875,000 -40,405,000 51,306,000 -68,111,000 52,580,000 -35,509,000 54,289,000 -62,423,000 45,910,000 -19,933,000 45,357,000 -76,540,000 53,659,000 -31,938,000 54,553,000 -53,789,000 62,656,000 -52,602,000 59,116,000 -53,948,000 48,464,000 -56,619,000 62,573,000 -23,601,000 48,997,000 -51,103,000 38,132,000 -17,969,000 42,472,000 -47,432,000 33,534,000 -25,127,000 32,964,000 -65,052,000 41,035,000 -23,100,000 45,450,000 -16,312,000 55,263,000 25,443,000 -9,366,000 44,531,000  34,710,000 -7,788,000 39,148,000 4,627,000 
      increase in accrued interest payable
    		-21,050,000 25,378,000 -23,860,000 23,543,000 -14,952,000 16,395,000 -16,526,000 18,197,000 -18,719,000 16,462,000 -16,534,000 16,658,000 -19,385,000 12,161,000 -12,634,000 12,733,000 -9,037,000 10,325,000 -10,407,000 227,000 -1,920,000 1,664,000 -927,000 -6,412,000 11,718,000 -14,776,000   13,437,000     -862,000 -1,048,000   249,000 -169,000         
      increase in lease liabilities
    		-560,000 -565,000 -541,000 -500,000 -2,343,000 -521,000 -499,000 -474,000 -419,000 -324,000 -334,000 -358,000 -349,000 85,000 -902,000 -1,010,000 -901,000 -2,343,000 -868,000 -554,000 -451,000 -578,000 -621,000                         
      increase in other liabilities
    		23,706,000 10,157,000 -21,564,000 16,410,000 -2,439,000 15,686,000 7,011,000 12,382,000 1,023,000 7,985,000 -16,032,000 9,805,000 786,000 3,228,000 -27,213,000 -1,141,000 10,814,000 -1,535,000 -3,852,000 -370,000 9,689,000 2,741,000 -20,811,000 7,241,000 -4,692,000     -1,673,000    7,149,000              
      increase in security deposits
    		1,398,000 3,770,000 1,701,000 1,261,000 4,502,000 1,030,000 -360,000 -320,000 71,000 699,000 -212,000 -307,000 -362,000 2,094,000 1,374,000 1,524,000 2,389,000 1,289,000 459,000 -973,000 -2,552,000 -5,069,000 -988,000 2,052,000 -261,000 -221,000 1,582,000 524,000 500,000 -1,436,000 -182,000   648,000 822,000 818,000 -339,000 1,773,000 1,143,000 1,294,000 -5,000 -28,000 -1,737,000 -19,000 -610,000 3,373,000 1,559,000 
      net cash from operating activities
    		476,661,000 359,545,000 425,525,000 354,225,000 401,414,000 396,937,000 421,031,000 344,274,000 442,544,000 352,701,000 393,279,000 334,528,000 429,354,000 322,818,000 368,056,000 281,971,000 402,088,000 230,072,000 346,053,000 231,212,000 399,238,000 252,635,000 382,451,000 324,436,000 361,018,000 302,754,000 413,001,000 256,749,000 293,284,000 292,168,000 344,245,000 273,694,000 201,382,000 293,153,000 388,299,000 327,152,000 347,895,000 282,633,000 336,903,000 221,574,000 204,949,000 187,528,000 166,011,000 205,971,000 205,254,000 155,457,000 161,077,000 
      cash flows from investing activities:
    		                                               
      investment in real estate – acquisitions
    		-103,077,000   -274,508,000 -1,257,085,000 -62,670,000 -837,000 0 -137,821,000   0 0 0 -113,046,000 -689,856,000 -740,849,000   0    -146,412,000 -54,134,000 1,000 -409,329,000   1,000 -45,201,000 0 -160,680,000 -171,761,000 -22,580,000 -130,275,000 -6,720,000 -116,931,000 -148,535,000 -159,184,000     -186,322,000 -498,272,000  
      investment in real estate – development/other
    		-22,240,000 -28,742,000 -30,971,000 -39,104,000 -35,465,000 -29,762,000 -25,491,000 -18,018,000 -13,364,000 -30,029,000 -16,786,000 -27,456,000 -26,398,000 -31,236,000 -24,255,000 -33,571,000 -47,694,000 -60,557,000 -64,599,000 -72,554,000 -62,563,000 -43,011,000 -52,204,000 -35,822,000 -40,813,000 -49,195,000 -51,300,000 -72,596,000 -103,291,000 -112,323,000 -141,649,000 -162,689,000 -150,164,000 -168,139,000 -161,415,000 -178,149,000 -146,194,000 -123,317,000 -122,340,000 -30,203,000     -35,539,000 -31,347,000  
      capital expenditures to real estate
    		-99,201,000 -82,418,000 -61,950,000 -71,327,000 -76,803,000 -79,784,000 -73,520,000 -89,579,000 -94,516,000 -79,855,000 -55,392,000 -79,379,000 -58,403,000 -48,019,000 -35,285,000 -43,313,000 -41,263,000 -37,764,000 -28,679,000 -43,856,000 -30,858,000 -22,923,000 -38,342,000 -49,240,000 -36,747,000 -59,349,000 -53,961,000 -50,000,000 -39,297,000 -47,626,000 -50,101,000 -40,548,000 -33,902,000 -47,675,000 -52,476,000 -43,792,000 -38,170,000           
      non-real estate capital additions
    		-274,000 -84,000 -935,000 -1,194,000 -651,000 -387,000 -534,000 -394,000 -414,000 -443,000 -600,000 -1,818,000 -1,251,000 -10,000 -971,000 -445,000 -209,000 -453,000 -589,000 -810,000 -3,754,000 -11,020,000 -4,516,000 -954,000 -1,191,000 -730,000 -122,000 -365,000 -289,000 -1,264,000 -1,208,000 -2,054,000 -1,205,000 -1,607,000 -429,000 -1,486,000 -469,000           
      interest capitalized for real estate and unconsolidated entities under development
    		-2,905,000 -2,741,000 -3,922,000 -3,792,000 -3,803,000 -3,744,000 -3,150,000 -2,768,000 -2,600,000 -3,586,000 -3,393,000 -2,924,000 -1,914,000 -1,250,000 -1,017,000 -3,567,000                  -14,035,000 -15,418,000 -15,119,000 -15,313,000 -12,245,000 -12,792,000 -2,248,000 -1,983,000 -1,700,000      
      proceeds from disposition of real estate
    		246,027,000 116,315,000 226,749,000 599,548,000 30,722,000 82,794,000 247,334,000 182,300,000 57,802,000 0 133,916,000 0 464,380,000   693,419,000 607,406,000   366,372,000 0 379,236,000 368,364,000 2,503,000 284,670,000 34,583,000 52,702,000 217,234,000 80,064,000 240,533,000 168,945,000 111,277,000 6,303,904,000 47,249,000 77,636,000 236,932,000 142,931,000   208,470,000 935,793,000 258,212,000 538,097,000 29,531,000 1,000 105,071,000 810,898,000 
      investments in unconsolidated entities – acquisitions
    		   0 0   -1,811,000 0   -525,000                                    
      investments in unconsolidated entities – development/other
    		-21,511,000 -29,730,000 -32,320,000 -30,075,000 -19,567,000 -20,981,000 -7,812,000 -13,104,000 -8,663,000 -10,933,000 -14,480,000 -22,717,000 -38,552,000                                   
      distributions from unconsolidated entities – return of capital
    		687,000 0 331,000 0 1,393,000 0 16,000 27,000 0 9,000 6,000 291,000 0 0 9,000 1,512,000 0 0 4,000 636,000      5,000 216,000 0 113,000 0 13,274,000 188,000 336,000 5,899,000 19,098,000 7,178,000 18,969,000 56,989,000 7,680,000      0 1,303,000  
      proceeds from sale of investment securities
    		681,000 0 359,000 7,584,000 0   90,000 2,500,000 0 452,000 0 150,000 0 3,434,000 0 0                  0        0 0    
      mortgage receivables from unconsolidated entities
    		                                               
      consolidation of previously unconsolidated entities
    		0                                               
      net cash from investing activities
    		-104,103,000 -616,336,000 97,341,000 187,132,000 -1,361,259,000 -138,363,000 136,006,000 58,851,000 -197,076,000 -315,002,000 43,723,000 -135,544,000 288,671,000 151,702,000 -197,037,000 -125,031,000 -254,234,000 70,990,000 -126,345,000 247,128,000 -148,889,000 299,338,000 266,009,000 -231,474,000 147,298,000 -113,499,000 -254,340,000 -153,422,000 -73,035,000 119,808,000 -119,842,000 120,771,000 5,751,236,000       -35,844,000   272,416,000 -427,925,000   232,269,000 
      cash flows from financing activities:
    		                                               
      debt financing costs
    		0   0    0    -9,521,000            -9,000 -4,345,000 -17,000 -6,270,000   -12,798,000 -70,000 -40,000 -397,000 -70,000 -3,000             
      mortgage notes payable, net:
    		                                               
      lump sum payoffs
    		0 0 -37,940,000     0 -867,876,000   -25,587,000            0 -725,639,000 0 -123,000,000 -18,646,000 -351,774,000 -18,038,000 -8,585,000 -73,898,000 -482,601,000 -181,680,000 -56,076,000 -162,000 -121,326,000   -226,589,000 -431,744,000 -200,733,000 -144,185,000 -91,067,000 -250,624,000 -149,409,000  
      scheduled principal repayments
    		   -3,700,000    -2,800,000 -500,000 -14,000 -40,000 -206,000            -1,553,000 -1,720,000 -1,933,000 -1,800,000 -5,007,000 -1,964,000 -1,900,000 -1,904,000 -2,532,000 -2,208,000 -2,114,000 -2,133,000 -2,282,000 -2,746,000 -2,966,000 -3,034,000 -4,097,000 -4,143,000 -4,223,000 -4,261,000 -4,185,000 -4,264,000 -4,059,000  
      notes, net:
    		                                               
      proceeds
    		0       0 550,000,000 8,806,000 14,090,000 10,625,000            0 497,010,000 0         0     17,700,000 134,523,000 707,000 49,541,000 19,026,000 49,330,000 55,664,000 168,787,000 
      line of credit and commercial paper:
    		                                               
      line of credit proceeds
    		   194,000,000                    0 415,000,000 0 955,000,000   180,000,000 0 0 246,000,000 201,000,000 16,000,000 1,556,000,000 1,997,000,000           
      line of credit repayments
    		   -194,000,000                    0 -415,000,000 0 -1,220,000,000   -180,000,000 0 0 -246,000,000 -201,000,000 -16,000,000 -1,686,000,000 -2,200,000,000           
      commercial paper proceeds
    		14,639,019,000 7,565,647,000 11,238,316,000 24,505,873,000 5,077,677,000 2,345,963,000 1,186,790,000 1,730,500,000 2,010,949,000 1,059,474,000 1,323,145,000 895,398,000            3,658,489,000 1,107,561,000 1,177,834,000 1,279,780,000 1,299,214,000 1,309,681,000 434,802,000 0 0 1,324,784,000 1,439,379,000 224,924,000 1,111,696,000 1,155,228,000           
      commercial paper repayments
    		-14,575,000,000 -7,087,500,000 -11,477,995,000 -24,748,755,000 -4,462,000,000 -2,401,000,000 -1,370,000,000 -1,819,005,000 -1,697,787,000 -875,000,000 -1,453,100,000 -955,000,000            -3,547,000,000 -1,173,000,000 -1,105,000,000 -1,550,250,000 -1,116,000,000 -1,015,500,000 -415,000,000 0 0 -1,712,472,000 -1,082,528,000 -195,000,000 -1,452,900,000 -814,600,000           
      proceeds from (payments on) settlement of derivative instruments
    		0   0    0                0 1,638,000                       
      finance ground lease principal payments
    		-736,000 -736,000 -735,000 -722,000 -720,000 -719,000 -719,000 -667,000 -666,000 -664,000 -665,000 -618,000                                    
      proceeds from employee share purchase plan
    		550,000 471,000 942,000 692,000 381,000 805,000 1,644,000 926,000 467,000 672,000 1,452,000 898,000            500,000 1,681,000 781,000 852,000 537,000 1,574,000 908,000 755,000 1,041,000 982,000 1,028,000 766,000 683,000 1,927,000 477,000 1,741,000 1,057,000 759,000 2,742,000 861,000 705,000 1,068,000 2,478,000  
      proceeds from exercise of options
    		1,000 997,000 4,360,000 5,685,000 10,835,000 2,079,000 4,401,000 12,158,000 116,000 3,246,000 8,112,000 4,048,000            1,017,000 1,600,000 18,629,000 4,824,000 5,001,000 3,142,000 8,894,000 798,000 5,454,000 20,687,000 22,461,000 3,063,000 1,771,000 32,213,000 9,900,000 15,785,000 10,839,000 50,815,000 32,719,000 13,663,000 14,124,000 24,594,000 19,215,000 22,155,000 
      common shares repurchased and retired
    		   0 0 0 -38,474,000                               0 -1,777,000    0 0 0 -1,887,000  
      redemption of preferred shares
    		   0 0 0 -20,125,000                           -2,900,000 0 0 -9,820,000           
      premium on redemption of preferred shares
    		   0 0 0 -1,444,000                           -697,000 0 0 -2,789,000           
      payment of offering costs
    		-282,000           -44,000            -1,000 -26,000 -15,000 0 -15,000 -21,000 -10,000    -10,000 -29,000     -159,000 -259,000 -2,352,000 -3,927,000 -7,000 -119,000 -604,000  
      other financing activities
    		-7,000 -46,000 -7,000 -42,000 -7,000 -38,000 -7,000 -38,000 -6,000   -32,000              -23,000 0   -16,000 0 105,000 -138,000 -16,000 0     0   -15,000 0    
      contributions – noncontrolling interests – partially owned properties
    		   125,000 0 223,000 235,000 0 0   0            0 125,000 0 0 0 125,000         0 5,684,000      0 222,000  
      contributions – noncontrolling interests – operating partnership
    		1,000 0 4,000 0 0 0 2,000 0 0   0            0 1,000     0 0 0 1,000 0 2,000 0 1,000 0 3,000         
      distributions:
    		                                               
      common shares
    		-263,132,000 -263,036,000 -256,401,000 -256,060,000 -255,879,000 -255,777,000 -251,334,000 -251,564,000 -251,101,000 -250,922,000 -236,561,000 -235,104,000            -198,831,000 -185,484,000 -185,108,000 -185,023,000 -184,942,000 -184,302,000 -1,280,887,000 -184,134,000 -184,052,000 -3,122,652,000 -201,180,000 -201,127,000 -201,033,000 -181,408,000 -180,561,000 -234,282,000 -99,933,000 -99,340,000 -132,655,000 -95,784,000 -95,642,000 -95,226,000 -93,317,000  
      preferred shares
    		-356,000 -355,000 -356,000 -355,000 -711,000 -356,000 -964,000 -771,000 0 -775,000 -1,544,000 0            -772,000 -773,000 -773,000 0 -773,000 -1,545,000 0 -773,000 -772,000 -773,000 -800,000 -833,000 -833,000 -891,000 -1,036,000 -1,036,000 -3,466,000 -3,467,000 -3,466,000 -3,613,000 -3,620,000 -3,618,000 -3,620,000  
      noncontrolling interests – operating partnership
    		-7,559,000 -7,640,000 -8,309,000 -7,361,000 -7,429,000 -7,475,000 -8,154,000 -7,284,000 -7,736,000 -7,853,000 -7,380,000 -7,589,000            -7,188,000 -6,666,000 -6,687,000 -6,691,000 -6,695,000 -7,218,000 -50,474,000 -7,258,000 -7,256,000 -123,127,000 -7,901,000 -7,906,000 -7,913,000 -7,149,000 -7,188,000 -9,217,000 -4,598,000     -4,702,000 -4,794,000  
      noncontrolling interests – partially owned properties
    		-422,000 -631,000 -3,368,000 -1,000 -422,000 -418,000 -2,323,000 -2,207,000 -306,000 -632,000 -2,598,000 -170,000            -3,400,000 -4,220,000 -1,413,000 -929,000 -810,000 -5,134,000 -7,631,000 -907,000 -900,000 -26,781,000 -1,203,000 -1,361,000 -1,104,000 -2,891,000 -1,126,000 -4,113,000 -435,000     -719,000 -625,000  
      net cash from financing activities
    		-305,010,000 247,202,000 -541,489,000 -507,750,000 947,983,000 -316,713,000 -500,472,000 -389,857,000 -243,383,000 -132,142,000 -355,089,000 -183,279,000            -98,796,000 -514,367,000              -48,949,000    -50,679,000     
      net increase in cash and cash equivalents and restricted deposits
    		67,548,000 -9,589,000 -18,623,000 33,607,000 -11,862,000 -58,139,000 56,565,000 13,268,000 2,085,000 -94,443,000 81,913,000 15,705,000            -5,834,000 -6,051,000                       
      cash and cash equivalents and restricted deposits, beginning of period
    		0 0 160,166,000  0 0 139,995,000  0 0 137,172,000             0 100,762,000                       
      cash and cash equivalents and restricted deposits, end of period
    		67,548,000 -9,589,000 141,543,000  -11,862,000 -58,139,000 196,560,000  2,085,000 -94,443,000 219,085,000             -5,834,000 94,711,000                       
      cash and cash equivalents
    		61,816,000 -8,573,000 39,849,000 33,692,000 -9,688,000 -6,237,000 44,535,000 11,493,000 3,549,000 -97,759,000 133,460,000 9,081,000            -9,946,000 44,453,000                       
      restricted deposits
    		5,732,000 -1,016,000 101,694,000 -85,000 -2,174,000 -51,902,000 152,025,000 1,775,000 -1,464,000 3,316,000 85,625,000 6,624,000            4,112,000 50,258,000                       
      total cash and cash equivalents and restricted deposits, end of period
    		67,548,000 -9,589,000 141,543,000  -11,862,000 -58,139,000 196,560,000  2,085,000 -94,443,000 219,085,000             -5,834,000 94,711,000                       
      purchase of investment securities and other investments
    		       0 0   -1,016,000 -11,000 -25,000 -1,009,000 -500,000 -846,000   -264,000 0 -508,000 -1,000                         
      proceeds from sale of common shares
    		                                       0 0 154,508,000 256,096,000 0 0 73,356,000 3,308,000 
      acquisition of noncontrolling interests – partially owned properties
    		       0 0   0                          -3,000,000 -2,501,000 -4,234,000        
      cash and cash equivalents and restricted deposits, beginning of year
    		                                               
      cash and cash equivalents and restricted deposits, end of year
    		                                               
      total cash and cash equivalents and restricted deposits, end of year
    		                                               
      amortization of above/below market lease intangibles
    		               0 0 -136,000 -18,000 -18,000 -18,000 -17,000 -18,000 1,098,000 1,098,000 1,099,000                      
      impairment
    		                                               
      realized (gain) loss on sale of investment securities
    		         0 87,000 0 3,000 2,000 -2,066,000 0 0                               
      net (gain) loss on debt extinguishment
    		                       0 22,110,000                       
      realized/unrealized (gain) loss on derivative instruments
    		                   0 25,000 0 25,000                         
      other operating activities
    		                  133,000 0 0 0 1,805,000                        791,000 
      net gain on debt extinguishment
    		                       0 -22,110,000                       
      table of contents
    		                                               
      investments in unconsolidated entities – other
    		              -24,897,000                                 
      prepaid finance ground lease
    		                                               
      investments in unconsolidated entities
    		                -26,590,000 -2,113,000 -2,378,000 889,000 -1,038,000 -168,000 -5,458,000 -300,000 -2,799,000 -710,000 -2,836,000 -784,000 -1,704,000 -1,440,000 -1,997,000 -929,000 -900,000 -21,000 -18,212,000 -2,376,000 -2,410,000 -3,300,000 -6,254,000 -453,000 -46,000 -366,000      
      interest capitalized for real estate under development
    		                 -4,407,000 -3,769,000 -3,285,000 -2,778,000 -2,268,000 -1,834,000 -1,249,000 -1,688,000 -3,126,000 -6,538,000 -8,388,000 -8,238,000  -13,272,000 -14,140,000 -14,246,000          -2,812,000 -2,256,000 -3,575,000 -4,365,000  
      other investing activities
    		                  -26,335,000                            2,000 
      net (gain) loss on sales of investment securities and other investments
    		                                               
      net (gain) loss on sales of discontinued operations
    		                                               
      proceeds from sale of investment securities and other investments
    		                             0 4,287,000 67,098,000 1,430,000               
      loss (income) from investments in unconsolidated entities
    		                               800,000 1,104,000               
      net (gain) on sales of investment securities and other investments
    		                             7,000 -3,260,000 -54,600,000 -556,000               
      net (gain) on sales of real estate properties
    		                          -17,328,000 -87,726,000 -36,707,000 -173,184,000 -90,036,000 -57,356,000 -3,723,479,000 -39,442,000 -66,939,000 -148,802,000 -79,951,000           
      net (gain) on sales of land parcels
    		                          0 23,000 -19,193,000                   
      net (gain) on sales of discontinued operations
    		                             0 -28,000 0 -15,000     -153,000 -71,000 -76,864,000 -558,482,000 -123,754,000 -228,418,000 -9,285,000 -217,000 -60,036,000  
      decrease in deposits – restricted
    		                          478,000 54,000 256,000    7,823,000               
      decrease in mortgage deposits
    		                                 -498,000    -188,000 375,000         
      (decrease) in other liabilities
    		                          4,226,000 12,848,000 -45,324,000   -18,377,000 -23,703,000   -2,790,000 -8,307,000 8,957,000 -26,194,000 1,787,000 6,856,000 -28,836,000  2,016,000 13,839,000 -20,005,000  
      decrease (increase) in deposits on real estate acquisitions and investments
    		                            637,000                   
      (increase) in mortgage deposits
    		                              819,000 -385,000 -455,000    -59,000           
      mortgage deposits
    		                          9,930,000 49,508,000 -2,381,000 -2,248,000 -2,278,000 -1,821,000 -2,150,000 -2,253,000 -2,166,000 -2,110,000 -2,059,000 -1,937,000 -1,643,000         
      proceeds from settlement of derivative instruments
    		                                              10,729,000 
      net cash (used for) financing activities
    		                          -149,815,000 -107,747,000 -255,317,000 -852,355,000 -204,660,000 -264,671,000 -5,626,845,000 -20,484,000 -237,879,000 -258,134,000 -159,335,000    -348,329,000 -274,858,000   -5,024,000 -10,388,000  
      net increase in cash and cash equivalents
    		                          8,846,000 -4,420,000 -35,068,000 -440,379,000 19,743,000 129,794,000 325,773,000   42,691,000 9,338,000           
      cash and cash equivalents, beginning of period
    		                          0 0 77,207,000  0 0 42,276,000  0 0 40,080,000 0 53,534,000 0 0 431,408,000  0 0 193,288,000 88,828,000 
      cash and cash equivalents, end of period
    		                          8,846,000 -4,420,000 42,139,000  19,743,000 129,794,000 368,049,000  -54,743,000 42,691,000 49,418,000 38,923,000 37,209,000 -558,778,000 298,692,000 306,072,000  -4,322,000 -12,204,000 60,186,000 86,777,000 
      amortization of above/below market leases
    		                           861,000 856,000 860,000 858,000 857,000 851,000 848,000 843,000 845,000 846,000 701,000 829,000         
      income from investments in unconsolidated entities
    		                           682,000 1,073,000         7,616,000 1,409,000    0 -188,000 459,000 464,000 230,000 
      decrease (increase) in mortgage deposits
    		                           585,000 315,000   -150,000 196,000       228,000 1,182,000 506,000     3,391,000 
      (decrease) in accrued interest payable
    		                              11,266,000 -11,229,000 -15,817,000    -4,870,000   -22,689,000 20,612,000 -26,659,000 27,257,000 -25,899,000 27,596,000 -32,954,000  
      (increase) in deposits on real estate acquisitions and investments
    		                              -52,853,000 162,718,000 -193,533,000               
      increase in mortgage deposits
    		                           -3,078,000 -1,030,000     -124,000 -25,000 74,000 -456,000  -91,000     -1,637,000 2,680,000 -3,383,000  
      realized/unrealized gain on derivative instruments
    		                                 0              
      decrease (increase) in deposits – restricted
    		                             1,458,000 871,000      290,000           
      decrease (increase) in other assets
    		                             26,899,000 -25,696,000 12,769,000 17,175,000              3,233,000 
      increase in deposits on real estate acquisitions and investments
    		                                  -31,186,000 100,540,000 -131,787,000           
      consolidation of previously unconsolidated properties
    		                                          0 0    
      (payments on) settlement of derivative instruments
    		                                 0 0 -13,913,000 -25,000           
      cash and cash equivalents, beginning of year
    		                                               
      cash and cash equivalents, end of year
    		                                               
      (income) from investments in unconsolidated entities
    		                                               
      realized/unrealized loss on derivative instruments
    		                                               
      (decrease) in security deposits
    		                                -13,990,000               
      net gain on sales of land parcels
    		                                 0 0             
      increase in deposits – restricted
    		                                      -418,000      -394,000 -1,000,000  
      acquisition of archstone, net of cash acquired
    		                                               
      decrease in deposits on real estate acquisitions and investments
    		                                     8,075,000 12,904,000         
      net cash (used for) investing activities
    		                                 -267,759,000 -205,163,000 -26,327,000 -179,222,000 -190,899,000 -304,279,000   -38,006,000    -278,171,000  
      mortgage notes payable:
    		                                               
      net (gain) on sale of investment securities
    		                                  0             
      (increase) in deposits – restricted
    		                                  -980,000             
      net (decrease) in cash and cash equivalents
    		                                      -16,325,000   -125,336,000  -4,322,000 -12,204,000 -133,102,000  
      unrealized gain on derivative instruments
    		                                   27,000 24,000      0     
      (increase) in other assets
    		                                               
      net income on sales of land parcels
    		                                    1,000  30,000         
      unrealized (gain) loss on derivative instruments
    		                                               
      improvements to real estate
    		                                     -44,721,000 -32,191,000 -41,207,000 -34,972,000 -29,891,000 -39,249,000 -39,777,000 -33,491,000 -25,691,000  
      additions to non-real estate property
    		                                     -1,659,000 -159,000 -892,000 -1,310,000 -2,677,000 -1,969,000 -410,000 -259,000 -353,000  
      loan and bond acquisition costs
    		                                     -10,821,000 -60,000 -6,604,000 -1,243,000 -223,000 -914,000 -5,704,000 -758,000 -1,435,000 -4,464,000 
      lines of credit:
    		                                               
      repayments
    		                                     -1,921,000,000 -1,568,000,000    -1,284,000,000 -870,000,000 -1,981,000,000 -1,378,125,000  
      unrealized (gain) on derivative instruments
    		                                      -3,000         
      decrease in other assets
    		                                      18,613,000   5,771,000    1,798,000  
      net (gain) on sales of investment securities/technology investments
    		                                               
      net (gain) on sales of unconsolidated entities
    		                                          0 -22,544,000 -5,079,000 -478,000  
      proceeds from sale of investment securities/technology investments
    		                                               
      deconsolidation of previously consolidated properties
    		                                               
      restricted cash
    		                                       28,258,000 10,634,000 -22,297,000 36,821,000 -22,063,000 51,047,000 7,427,000  
      loss on debt extinguishments
    		                                              2,867,000 
      income from technology investments
    		                                               
      unrealized loss on derivative instruments
    		                                            0 1,000  
      proceeds from technology investments
    		                                               
      increase in deposits on real estate acquisitions
    		                                       -39,018,000 -63,274,000 -107,878,000      
      (loss) on debt extinguishments
    		                                               
      distributions from unconsolidated entities — return on capital
    		                                         41,000     68,000 
      decrease (increase) in deposits — restricted
    		                                         1,557,000      
      investment in real estate — acquisitions
    		                                         -123,868,000      
      investment in real estate — development/other
    		                                         -29,840,000      
      distributions from unconsolidated entities — return of capital
    		                                              92,000 
      acquisition of noncontrolling interests — partially owned properties
    		                                         -504,000      
      contributions — noncontrolling interests — partially owned properties
    		                                               
      noncontrolling interests — operating partnership
    		                                         -6,225,000      
      noncontrolling interests — partially owned properties
    		                                         -264,000      
      amortization of discounts on investment securities
    		                                               
      property acquisition costs
    		                                          655,000 2,037,000 627,000 3,337,000  
      net (gain) on sales of investment securities
    		                                               
      gain on debt extinguishments
    		                                          2,299,000     
      (decrease) in accounts payable and accrued expenses
    		                                               
      purchase of investment securities
    		                                               
      decrease (increase) in deposits on real estate acquisitions
    		                                          -111,441,000 19,640,000 46,704,000 182,203,000  
      (payments on) proceeds from settlement of derivative instruments
    		                                          0     
      preference interests and units
    		                                               
      decrease in deposits — restricted
    		                                               
      contributions — noncontrolling interests — operating partnership
    		                                               
      (gain) on debt extinguishments
    		                                               
      transaction costs
    		                                               
      allocation to minority interests:
    		                                               
      operating partnership
    		                                              25,960,000 
      partially owned properties
    		                                              1,521,000 
      premium on redemption of preference interests
    		                                              674,000 
      amortization of discounts on corporate notes
    		                                               
      (income) from technology investments
    		                                               
      (gain) loss on debt extinguishments
    		                                               
      proceeds from disposition of unconsolidated entities
    		                                              333,000 
      investment in corporate notes/other
    		                                               
      cash flows from investing activities
    		                                               
      consolidation of previously unconsolidated properties:
    		                                               
      via eitf 04-5
    		                                               
      acquisition of minority interests – partially owned properties
    		                                               
      prepayment premiums/fees
    		                                               
      redemption of preference interests
    		                                               
      contributions – minority interests – partially owned properties
    		                                               
      minority interests – operating partnership
    		                                               
      minority interests – partially owned properties
    		                                               
      via acquisition
    		                                               
      (increase) in deposits — restricted
    		                                               
      decrease in deposits on real estate acquisitions
    		                                               
      acquisition of minority interests — partially owned properties
    		                                               
      contributions — minority interests — partially owned properties
    		                                              815,000 
      minority interests — operating partnership
    		                                               
      minority interests — partially owned properties
    		                                               
      decrease (increase) in rents receivable
    		                                               
      increase in rents received in advance and other liabilities
    		                                               
      interest capitalized for unconsolidated entities under development
    		                                               
      via eitf 04-5/fin 46
    		                                               
      net increase in cash and cash equivalents nts
    		                                               
      preference interests
    		                                              1,095,000 
      junior preference units
    		                                              4,000 
      increase in rents receivable
    		                                               
      increase in deposits — restricted
    		                                               
      (decrease) in rents received in advance and other liabilities
    		                                               
      (increase) in deposits on real estate acquisitions
    		                                               
      via eitf 04-05
    		                                              1,436,000 
      impairment on technology investments
    		                                               
      proceeds from refinancing of unconsolidated entities
    		                                               
      proceeds from technology and other investments
    		                                               
      distributions from unconsolidated entities
    		                                               
      via fin 46
    		                                               
      proceeds from sale of preferred shares
    		                                               
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.