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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
OPERATING ACTIVITIES      
Net income $ 31,145 $ 22,594 $ 51,601
Results from discontinued operations 0 0 (37,652)
Income from continuing operations 31,145 22,594 13,949
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (4,623) (4,997) (6,967)
Depreciation and amortization 66,568 66,775 61,853
Amortization of debt issuance costs and debt fair value adjustments 4,075 3,932 3,911
Stock-based compensation expense 3,666 2,845 2,852
Settlement of forward interest rate swap agreement 1,617 0 0
Other noncash interest expense (39) 0 0
Other, net (95) 848 2,422
Changes in operating assets and liabilities      
Change in restricted cash 1,198 (755) (1,000)
Change in accounts receivable 279 (45) 63
Change in other assets (107) (88) 143
Change in accounts payable and accrued expenses 1,381 1,167 (1,799)
Change in security deposits payable 358 307 (50)
Change in other liabilities and deferred credits 188 151 186
Net cash provided by operating activities of continuing operations 105,611 92,734 75,563
Net cash provided by operating activities of discontinued operations 0 0 382
Net cash provided by operating activities 105,611 92,734 75,945
INVESTING ACTIVITIES      
Acquisition of real estate, net of cash acquired 0 0 (273,990)
Capital expenditures (144,674) (55,675) (34,582)
Change in restricted cash, reserves for capital improvements (3,068) 453 2,557
Leasing commissions (5,098) (3,032) (3,456)
Maturity of marketable securities 0 0 4,384
Sale of marketable securities 0 0 23,191
Net cash used in investing activities of continuing operations (152,840) (58,254) (281,896)
Net cash provided by investing activities of discontinued operations 0 0 87,601
Net cash used in investing activities (152,840) (58,254) (194,295)
FINANCING ACTIVITIES      
Change in restricted cash 0 (1,400) 0
Issuance of secured notes payable 0 0 132,900
Repayment of secured notes payable (142,276) (95,420) (34,626)
Proceeds from term loan 100,000 0 0
Proceeds from unsecured line of credit 0 93,000 164,000
Repayment of unsecured line of credit 93,000 0 164,000
Proceeds from issuance of senior guaranteed notes payable 150,000 0 0
Debt issuance costs (2,141) 0 (1,355)
Proceeds from issuance of common stock, net 104,107 25,348 0
Dividends paid to common stock and unitholders (54,311) (49,500) (48,452)
Deferred offering costs 0 0 (361)
Shares withheld for employee taxes (4,780) 0 0
Net cash provided by (used in) financing activities 57,599 (27,972) 48,106
Net (decrease) increase in cash and cash equivalents 10,370 6,508 (70,244)
Cash and cash equivalents, beginning of period 48,987 42,479 112,723
Cash and cash equivalents, end of period 59,357 48,987 42,479
American Assets Trust, L.P.      
OPERATING ACTIVITIES      
Net income 31,145 22,594 51,601
Results from discontinued operations 0 0 (37,652)
Income from continuing operations 31,145 22,594 13,949
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (4,623) (4,997) (6,967)
Depreciation and amortization 66,568 66,775 61,853
Amortization of debt issuance costs and debt fair value adjustments 4,075 3,932 3,911
Stock-based compensation expense 3,666 2,845 2,852
Settlement of forward interest rate swap agreement 1,617 0 0
Other noncash interest expense (39) 0 0
Other, net (95) 848 2,422
Changes in operating assets and liabilities      
Change in restricted cash 1,198 (755) (1,000)
Change in accounts receivable 279 (45) 63
Change in other assets (107) (88) 143
Change in accounts payable and accrued expenses 1,381 1,167 (1,799)
Change in security deposits payable 358 307 (50)
Change in other liabilities and deferred credits 188 151 186
Net cash provided by operating activities of continuing operations 105,611 92,734 75,563
Net cash provided by operating activities of discontinued operations 0 0 382
Net cash provided by operating activities 105,611 92,734 75,945
INVESTING ACTIVITIES      
Acquisition of real estate, net of cash acquired 0 0 (273,990)
Capital expenditures (144,674) (55,675) (34,582)
Change in restricted cash, reserves for capital improvements (3,068) 453 2,557
Leasing commissions (5,098) (3,032) (3,456)
Maturity of marketable securities 0 0 4,384
Sale of marketable securities 0 0 23,191
Net cash used in investing activities of continuing operations (152,840) (58,254) (281,896)
Net cash provided by investing activities of discontinued operations 0 0 87,601
Net cash used in investing activities (152,840) (58,254) (194,295)
FINANCING ACTIVITIES      
Change in restricted cash 0 (1,400) 0
Issuance of secured notes payable 0 0 132,900
Repayment of secured notes payable (142,276) (95,420) (34,626)
Proceeds from term loan 100,000 0 0
Proceeds from unsecured line of credit 0 93,000 164,000
Repayment of unsecured line of credit 93,000 0 164,000
Proceeds from issuance of senior guaranteed notes payable 150,000 0 0
Debt issuance costs (2,141) 0 (1,355)
Proceeds from issuance of common stock, net 104,107 25,348 0
Dividends paid to common stock and unitholders (54,311) (49,500) (48,452)
Deferred offering costs 0 0 (361)
Shares withheld for employee taxes (4,780) 0 0
Net cash provided by (used in) financing activities 57,599 (27,972) 48,106
Net (decrease) increase in cash and cash equivalents 10,370 6,508 (70,244)
Cash and cash equivalents, beginning of period 48,987 42,479 112,723
Cash and cash equivalents, end of period $ 59,357 $ 48,987 $ 42,479