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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net income (loss) $ 103,825 $ (321,855)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 194,225 193,920
Distributions of income from partially owned entities 109,089 79,436
Equity in net (income) loss of partially owned entities (60,499) 272,770
Stock-based compensation expense 27,379 33,468
Net gains on disposition of wholly owned and partially owned assets (25,724) (124,284)
Straight-lining of rents 9,835 15,856
Amortization of below-market leases, net (5,717) (9,406)
Write-off of lease receivables deemed uncollectible 5,239 38,631
Net unrealized loss on real estate fund investments 789 211,196
Gain on extinguishment of 608 Fifth Avenue lease liability 0 (70,260)
Credit losses on loans receivable 0 13,369
Decrease in fair value of marketable securities 0 4,938
Other non-cash adjustments 4,225 4,370
Changes in operating assets and liabilities:    
Real estate fund investments (789) (6,000)
Tenant and other receivables 10,477 (28,864)
Prepaid assets 127,958 3,078
Other assets (26,262) (12,480)
Accounts payable and accrued expenses 2,243 (26,611)
Other liabilities (3,584) (3,557)
Net cash provided by operating activities 472,709 267,715
Cash Flows from Investing Activities:    
Development costs and construction in progress (269,376) (319,294)
Distributions of capital from partially owned entities 106,005 1,090
Additions to real estate (90,138) (85,252)
Proceeds from sale of condominium units at 220 Central Park South 72,216 437,188
Investments in partially owned entities (6,357) (3,157)
Proceeds from sales of real estate 3,521 0
Proceeds from repayments of loans receivable 675 0
Moynihan Train Hall expenditures 0 (183,007)
Proceeds from sales of marketable securities 0 28,375
Net cash used in investing activities (183,454) (124,057)
Cash Flows from Financing Activities:    
Proceeds from borrowings 2,298,007 554,297
Repayments of borrowings (1,573,443) (11,347)
Dividends paid on common shares / Distributions to Vornado (202,989) (624,627)
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (159,926) (54,440)
Dividends paid on preferred shares / Distributions to preferred unitholders (32,934) (37,593)
Debt issuance costs (32,875) (143)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 1,547 98,268
Proceeds received from exercise of employee share options (Vornado stock options) and other 440 5,267
Repurchase of shares / Class A units related to stock compensation agreements and related tax withholdings (114) (137)
Moynihan Train Hall reimbursement from Empire State Development 0 183,007
Net cash provided by financing activities 297,713 112,552
Net increase in cash and cash equivalents and restricted cash 586,968 256,210
Cash and cash equivalents and restricted cash at beginning of period 1,730,369 1,607,131
Cash and cash equivalents and restricted cash at end of period 2,317,337 1,863,341
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 1,624,482 1,515,012
Restricted cash at beginning of period 105,887 92,119
Cash and cash equivalents and restricted cash at beginning of period 1,730,369 1,607,131
Cash and cash equivalents at end of period 2,172,195 1,768,459
Restricted cash at end of period 145,142 94,882
Cash and cash equivalents and restricted cash at end of period 2,317,337 1,863,341
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $21,046 and $21,255 93,376 107,069
Cash payments for income taxes 6,797 9,276
Non-Cash Investing and Financing Activities:    
Redeemable Class A unit measurement adjustment (142,948) 248,879
Reclassification of assets held for sale (included in "other assets") 79,210 0
Accrued capital expenditures included in accounts payable and accrued expenses 80,649 89,036
Write-off of fully depreciated assets (48,190) (66,931)
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale" 9,227 240,707
Vornado Realty L.P.    
Cash Flows from Operating Activities:    
Net income (loss) 103,825 (321,855)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 194,225 193,920
Distributions of income from partially owned entities 109,089 79,436
Equity in net (income) loss of partially owned entities (60,499) 272,770
Stock-based compensation expense 27,379 33,468
Net gains on disposition of wholly owned and partially owned assets (25,724) (124,284)
Straight-lining of rents 9,835 15,856
Amortization of below-market leases, net (5,717) (9,406)
Write-off of lease receivables deemed uncollectible 5,239 38,631
Net unrealized loss on real estate fund investments 789 211,196
Gain on extinguishment of 608 Fifth Avenue lease liability 0 (70,260)
Credit losses on loans receivable 0 13,369
Decrease in fair value of marketable securities 0 4,938
Other non-cash adjustments 4,225 4,370
Changes in operating assets and liabilities:    
Real estate fund investments (789) (6,000)
Tenant and other receivables 10,477 (28,864)
Prepaid assets 127,958 3,078
Other assets (26,262) (12,480)
Accounts payable and accrued expenses 2,243 (26,611)
Other liabilities (3,584) (3,557)
Net cash provided by operating activities 472,709 267,715
Cash Flows from Investing Activities:    
Development costs and construction in progress (269,376) (319,294)
Distributions of capital from partially owned entities 106,005 1,090
Additions to real estate (90,138) (85,252)
Proceeds from sale of condominium units at 220 Central Park South 72,216 437,188
Investments in partially owned entities (6,357) (3,157)
Proceeds from sales of real estate 3,521 0
Proceeds from repayments of loans receivable 675 0
Moynihan Train Hall expenditures 0 (183,007)
Proceeds from sales of marketable securities 0 28,375
Net cash used in investing activities (183,454) (124,057)
Cash Flows from Financing Activities:    
Proceeds from borrowings 2,298,007 554,297
Repayments of borrowings (1,573,443) (11,347)
Dividends paid on common shares / Distributions to Vornado (202,989) (624,627)
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (159,926) (54,440)
Dividends paid on preferred shares / Distributions to preferred unitholders (32,934) (37,593)
Debt issuance costs (32,875) (143)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 1,547 98,268
Proceeds received from exercise of employee share options (Vornado stock options) and other 440 5,267
Repurchase of shares / Class A units related to stock compensation agreements and related tax withholdings (114) (137)
Moynihan Train Hall reimbursement from Empire State Development 0 183,007
Net cash provided by financing activities 297,713 112,552
Net increase in cash and cash equivalents and restricted cash 586,968 256,210
Cash and cash equivalents and restricted cash at beginning of period 1,730,369 1,607,131
Cash and cash equivalents and restricted cash at end of period 2,317,337 1,863,341
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 1,624,482 1,515,012
Restricted cash at beginning of period 105,887 92,119
Cash and cash equivalents and restricted cash at beginning of period 1,730,369 1,607,131
Cash and cash equivalents at end of period 2,172,195 1,768,459
Restricted cash at end of period 145,142 94,882
Cash and cash equivalents and restricted cash at end of period 2,317,337 1,863,341
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $21,046 and $21,255 93,376 107,069
Cash payments for income taxes 6,797 9,276
Non-Cash Investing and Financing Activities:    
Redeemable Class A unit measurement adjustment (142,948) 248,879
Reclassification of assets held for sale (included in "other assets") 79,210 0
Accrued capital expenditures included in accounts payable and accrued expenses 80,649 89,036
Write-off of fully depreciated assets (48,190) (66,931)
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale" $ 9,227 $ 240,707