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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net income $ 43,703 $ 17,993
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (3,652) 153
Depreciation and amortization 69,733 86,033
Amortization of debt issuance costs and debt fair value adjustments 1,096 1,165
Gain on sale of real estate 633 0
Stock-based compensation expense 3,359 2,180
Settlement of Forward Interest Rate Swap Agreement 513 0
Lease termination income (4,518) 0
Other noncash interest expense (972) (959)
Other, net 1,728 4
Changes in operating assets and liabilities    
Change in accounts receivable 732 1,001
Change in other assets (22) (12)
Change in accounts payable and accrued expenses 16,461 8,292
Change in security deposits payable (1,433) 2,178
Change in other liabilities and deferred credits (3,983) 885
Net cash provided by operating activities 122,112 118,913
INVESTING ACTIVITIES    
Acquisition of real estate (507,780) 0
Capital expenditures (65,549) (31,666)
Proceeds from sale of real estate, net of selling costs 8,191 0
Leasing commissions (8,892) (5,127)
Net cash used in investing activities (574,030) (36,793)
FINANCING ACTIVITIES    
Repayment of secured notes payable (20,468) (74,843)
Proceeds from unsecured line of credit 59,000 35,000
Repayment of unsecured line of credit (123,000) (13,000)
Proceeds from unsecured notes payable 150,000 0
Debt issuance costs (1,091) (2,687)
Proceeds from issuance of common stock, net 513,934 (236)
Dividends paid to common stock and unitholders (57,667) (52,164)
Shares withheld for employee taxes 0 6
Net cash provided by (used in) financing activities 520,708 (107,936)
Net increase (decrease) in cash and cash equivalents 68,790 (25,816)
Cash, cash equivalents and restricted cash, beginning of period 57,272 91,954
Cash, cash equivalents and restricted cash, end of period 126,062 66,138
Cash and cash equivalents 115,568 56,220
Restricted cash 10,494 9,918
American Assets Trust, L.P.    
OPERATING ACTIVITIES    
Net income 43,703 17,993
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (3,652) 153
Depreciation and amortization 69,733 86,033
Amortization of debt issuance costs and debt fair value adjustments 1,096 1,165
Gain on sale of real estate 633 0
Stock-based compensation expense 3,359 2,180
Settlement of Forward Interest Rate Swap Agreement 513 0
Lease termination income (4,518) 0
Other noncash interest expense (972) (959)
Other, net 1,728 4
Changes in operating assets and liabilities    
Change in accounts receivable 732 1,001
Change in other assets (22) (12)
Change in accounts payable and accrued expenses 16,461 8,292
Change in security deposits payable (1,433) 2,178
Change in other liabilities and deferred credits (3,983) 885
Net cash provided by operating activities 122,112 118,913
INVESTING ACTIVITIES    
Acquisition of real estate (507,780) 0
Capital expenditures (65,549) (31,666)
Proceeds from sale of real estate, net of selling costs 8,191 0
Leasing commissions (8,892) (5,127)
Net cash used in investing activities (574,030) (36,793)
FINANCING ACTIVITIES    
Repayment of secured notes payable (20,468) (74,843)
Proceeds from unsecured line of credit 59,000 35,000
Repayment of unsecured line of credit (123,000) (13,000)
Proceeds from unsecured notes payable 150,000 0
Debt issuance costs (1,091) (2,687)
Contributions from American Assets Trust, Inc. 513,934 (236)
Dividends paid to common stock and unitholders (57,667) (52,164)
Shares withheld for employee taxes 0 6
Net cash provided by (used in) financing activities 520,708 (107,936)
Net increase (decrease) in cash and cash equivalents 68,790 (25,816)
Cash, cash equivalents and restricted cash, beginning of period 57,272 91,954
Cash, cash equivalents and restricted cash, end of period 126,062 66,138
Cash and cash equivalents 115,568 56,220
Restricted cash $ 10,494 $ 9,918